I can't thank you enough for this response of yours. Absolutely everything I need. You're quite welcome, good luck! Please be sure to report back how long the belly laughs go on when you finish your story in front of actual legal council. Perhaps they'll at least have the courtesy to wait until you're out of the building before busting a gut, though. Also, if you don't mind, could you update the OP with the current tally of how much money you've spent on your little tantrum against BFL. By my count it's at least $1700 so far. You are spending way more to drive more and more people into your pre-order scheme. It's comforting to see people with values spending their hard-earned money to warn newbies about this situation. |
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Cool, thats some real bright news amidst all the FUDing.
Yeah, super bright news, BFL started "shipping" 2 weeks ago and in these 2 weeks they shipped a few dozens (and I'm being generous) Jalapeņos to customers who placed their orders during the very first 3 days (22nd, 23rd and 24th June 2012). At this rate customers that ordered in September 2012 or later will get their Jalapeņos in 2016, and customers who preordered Singles and Mini Singles will probably receive their units in 2017 or 2018. Customers that ordered mini-rigs... Well, that's an horror story in itself, no need to beat on a dead horse (I fell your pain, guys). |
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I'm just frosty again. Probably june for batch 2, july for batch 3 but... no bfl still.
There will be no BFL for a long time. Still, there will be other players - many of them. |
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I think that Ripple has the potential to be very big - and I'm sure that many on these forums agree, and that's exactly why we are criticizing it so harshly, because many bitcoiners do not like a future in which Ripple has achieved widespread adoption.
Leaving aside the fatal flaws (trust and debt) inherent also to the conventional financial system, the premine of Ripple's crypto (XRP) it is also a huge drawback.
From one side inflation is built into Bitcoin to pay miners which actively work for the network, and this system has demonstrated to be rock solid in the past 3 years, as it also creates a strong "real" economy related to the core function of the currency, all of which strengthens the network. On the contrary, I can't really get what will be the incentive of validators to participate in the Ripple network if there is no mining whatsoever (never seen a real explanation on this point).
From the other side, the fact that Opencoin controls ALL the XRP feels like a very opportunistic way to profit from Bitcoin's genius idea, while taking out from the equation many of the Bitcoin revolutionary aspects. Joel seems to agree that trust-based system=bad money, and he says he hopes that Ripple will be just a first step towards a "trust-free" monetary future. Unfortunately this is a complete fallacy because they will do whatever suits them best with the whole supply of the "trust-free" currency inside Ripple. What I mean is that you actually need to put a lot of trust in Opencoin to use XRP, because that level of premining and general lack of transparency de facto kills the decentralized and trust-free concepts.
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Oh it seems you are their new scapegoat coinseeker. I'm glad I got rid of that role actually,
No scapegoating here. It's just that most of us in here agree that 99% of Coinseeker's posts are not worth our time, just because they are very low quality. Sometimes I have to listen to the ones I disagree with. It is my judgment to decide whether I can learn something or not from them. If not (eg Jaroslaw) then there's the ignore button. And in fairness last week Coinseeker promoted himself out of my ignore list. The point some others have already highlighted is that the guy alternates a semi-serious alter-ego, which makes bearable his ignorance about the basic aspects of Bitcoin, with a worthless troll that is wasting everybody's time. |
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Oh it seems you are their new scapegoat coinseeker. I'm glad I got rid of that role actually,
No scapegoating here. It's just that most of us in here agree that 99% of Coinseeker's posts are not worth our time, just because they are very low quality. |
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Lol @ Coinseeker's attempt at damage control. "Lol, people don't argue with me because I constantly say dumb shit; they do it because, like, they totally have contrary beliefs and stuff."
Do you realize how silly it is to claim that what you say is "calling it like you see it?" Do you see any people saying "What I predict is just made up" or "I don't really believe what I I predict" or "I don't call it like I see it." It's redundant to say that you believe that what you say is accurate. It's like a restaurant telling me that they think their food tastes good because they know good food and they call it like they see it. Ain't no point to a statement like that.
Coinseeker the Restaurateur to his patrons that don't like his food: "Look, if I see good food, I'm going to call it like I see it, and I will speak on it. Even though my reasons are justified, I'll still get accused of making disgusting food, because my opinion of the food I gave you is just contradictory to what you food-h8ers believe."
Except the main difference is, I am accurate.  You guys just get sensitive because I mock your "revolution". I'm a capitalist, I'm here to make money. The rest you can keep. If you don't like my analysis and speculation, the ignore button works just fine. We mock you because: A) you are not consistent in your analysis: for example, the day after Dwolla you predicted Bitcoin was going to be destroyed by the US, that price was going to plummet, etc... And now you say it's going up up up. Ad BTW: if you got scared by the Dwolla thing, you are a retarded. One month ago there were the same chances of Gox being shut down than today. If the US decides to go after Gox/ Bitcoin there will be no prior warning, their action will be sudden. B) you are clearly uneducated about Bitcoin, you do not understand why it was created and how it works, and you expose these two facts every time you express an opinion... But at the same time you seem to think you are smarter than average, which under the light of the facts is pathetic and ridiculous. C) your trolling is annoying and not fun at all, while your "serious" alter ego has nothing interesting to say. And last but not least, please spare use the pathetic and off topic US nationalism that we have to read in some of your posts. |
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Considering that Ripple is a layer of additional trust and debt over the conventional financial system which is precisely based on trust and debt, it's not strange at all to find much hate for it inside the Bitcoin community. Except you get to choose precisely who you trust. In the conventional financial system, you have no such option and are pretty much stuck with your local currency and your local financial institutions. I acknowledge you are taking the trust problem to another, "distributed" level, but I see too many negative incentives in extending lines of trust and exploiting its vulnerabilities, and this degrades the economy. And honestly, introducing your own 100% premined crypto is the cherry on the cake. Sometimes Im amazed to see so many newbies praising Ripple, I wonder if they understood a) which problems Bitcoin was designed to solve and b) why it works. |
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There are two major and fundamnetal flaws in the Ripple system: trust and debt, and those flaws will be exploited endlessly.
These same flaws exist in the conventional financial system. At least in Ripple, you get to choose precisely who you will trust and, by default, trust no one. If you had to make something perfect to make it better, there would never be any progress. Considering that Ripple is a layer of additional trust and debt over the conventional financial system which is precisely based on trust and debt, it's not strange at all to find much hate for it inside the Bitcoin community. At the end of the day, Bitcoin was designed to put to an end the need to rely on intrinsecally flawed, trust based systems. |
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Do the advertisers pay premium for the anti-ABP code?
Actually, ABP charges money to unblock ads. You have to be considered non intrusive AND pay em. Jeeez, I'm removing that crap from my browser then |
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There are two major and fundamnetal flaws in the Ripple system: trust and debt, and those flaws will be exploited endlessly. |
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Do the advertisers pay premium for the anti-ABP code?
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Insignificant news: we already knew Bitcoin is resilient to the kind of attack that brought down LR
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Goomboo: do you use a bot? Could you share your config and explain it?
Sorry if these questions have been answered before, I couldn't find them.
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Yeah but, 131 is ~1800 coins away. Fundamentally, nothing has really changed.
Yup, true. But slowly up we go... after leaving 131 behind, it should move veery fast. Oh yeah, there is nothing stopping it after that. I've just learned to be a little more patient with BitStamp. You see how long it took to break through 130, right?  Additionally, it would seem to me there is alot of continued upward push. As bearish as I like to be, I still see nothing but "open road" ahead. Obviously one whale could send this whole thing crashing but as it stands, this looks to have some continued power behind it. We are in an interesting phase of price discovery. Clearly a lot of coins are disappearing due to being put in a "savings account" and at the same time we are seeing more coins being used for donations, daily purchases, etc. I wonder how much the price will go up just based on more adoption via actual daily usage??? Really, that is an interesting question as Bitpay and the like are going to be doing the instant conversions so will be creating liquidity at the exchanges. As the price moves up (and at times violently) we are going to see people call tops and sell. Eventually, I imagine there will be a reasonable distribution, but the early adopters will always hold a portion as they believe in the greater purpose. They will further most likely re-"invest" in Bitcoin in a variety of ways - e.g., legal fund, VC, etc. Just considering the current float of 11 million or so and the fact that the actual float is probably less than half that, I really would not be shocked at any price this year between what we are at currently and even $1000. I don't care so much about the price, but it is still a very interesting thing to consider as we are still trying to understand what this is... Kinda hard to be wrong with a prediction range of 130-1000.  Seriously though, without any really bad news, (major USG type news) I can't really find much fault in this analysis. Speculation of course, but fair. For me it's the same, really too soon to narrow down the "silver bullet" to the rise as so many new things are taking place. It may very well be just a perfect storm building of incoming capital, aftermath of the convention, confidence after Dwolla and Liberty, may well have a positive affect soon. Not sure how well Gyft sales are doing but there is just a ton of little positives that seem to be adding together nicely. For you bulls, I have to admit, there is much to cheer about or at least be optimistic about in the short term. Mid-long term is anyones guess but for now, enjoy the fact that I can find no legitamate FUD to spread around. What happened with "the US will go after Bitcoin and will kill it, Ripple will take over" and other FUD you spread non stop after the Dwolla situation? What made you to change your mind? Maybe you sold your useless XRPs and bought some BTC? Or you educated yourself a bit and understood that Bitcoin was designed to be immune to bans/regulation? |
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I have been thinking about the benefits of pre-mining to help get this thing going.
It seems like there is a paradox where no one will invest in this as long as they believe SOMEONE ELSE will and so they can sit back and get no benefit. My goal is to get this out there ASAP so we need to change the market dynamics to help make that happen.
I clearly don't want to pre-mine like Ripple.
I suspect there is some balance here, so the best approach I can think of to making sure that pre-mining is fair and just is to set a price to sell pre-mined shares. Therefore, I propose the following:
1) Anyone who sends Bitcoins to the following address: 18dzTA5JDLrP5bu6spDSqK9wGDLS4sM5bU will be allowed to redeem 10000x as many bitshares from the genisis block of the new chain. Thus the IPO is priced at about $0.01 per bitshare. The gensis block will contain a transaction with outputs that are redeemable with the same private keys.
2) By contributing funds to that address you will recognize that they may be used to fund this project as I see fit to make it a reality.
3) I will pay all contributors who write code, documentation, create promotional / educational videos from this fund, with the caveat that I may request they 're-invest' some or all of their pay by sending the money back to the fund.
4) As a result of this structure EVERYONE gets paid for their time at current market rates and that time is reflected in your initial stake in the bitshare economy. Whether you contribute time or money, it will all be valued at market rates.
5) I believe this gives us an ability to set a price for bitshares *today* based upon how many actually get issued. The market forces will be such that bitshares will be issued in quantity until the expected market-value on launch equals .0001 bitcoin.
6) 'pre-mining' is fair with this system because all pre-mined shares are tied to real proof-of-work represented by the bitcoins contributed.
7) I will create an alternate address for people who want to contribute to the bounty to prove the idea will not work.
Please do not send money to this address until I post a follow up post that CONFIRMS this plan. I will create a more detailed contract and then SIGN it with that bitcoin address.
What does everyone think?
Just my 0.02: if you are preming I will not support your crypto, which seems interesting (but i have to admit I'm not getting many points). I do not think premining is "immoral" or something like that, it's just that premining invalidates the "decentralized" concept from the very beginning. |
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dont know y u would pay these noobs back. If theyre dumb enough to fall for this shit they deserve to get took. Now theres nothing to stop them from doing it again, if someone just pays them back..No lesson learned here.
Pretty much agree. Technically speaking they were not even scammed, they knew very well the final outcome of this "game" (plenty of warnings in this thread), but they hoped the OP had some funds to at least have the scam running for a few rounds. Moved by greed, they wittingly participated in the scam, hoping that OP would have doubled their money to give some legitimacy to its scheme in order to attract greater fools which would have sent him bigger sums. Therefore, they very much deserve losing that money. |
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Im still trying to get my head around your proposal, but for now I was just curious since you mentioned investing $20k+ in it.
Would this end up being a community project that would benefit everyone, or is there some monetization strategy for those developing/investing in your value-tracking-currency?
I monetize it by mining from day 1. Everyone who helps make this a reality can start mining on day 1. So you would premine and then release to the public? |
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Beware noobs, 99% of other players are OP's alt-accounts.
Don't be dumb, there are best ways to use your money than to feed a scammer.
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Old news...
Aaron Barr, blah blah blah, lulzsec, blah blah blah
This. Noobs, please use the search function on these forums. That was just lulzsec trolling Aaron Barr. Google may help too. |
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