So where does his elitism come from? Perhaps from all those people paid attention to and scrutinized whatever he said?  Well, the point here is it was out of place. I even think he is out of place as a whole in this forum but everybody is different, so maybe he finds somebody who shares his interests... But regardless: his "diary" belongs to off-topic. And his "Supernode Summit" belongs to either project development or meetups, depending on what he is trying to accomplish (whatever that is). The other random posts in the wall observer thread and everywhere else do not belong there either, and I would certainly never have bothered him in any way if he did keep things where they belong. |
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No, it's digital coffee. Cuz look how volatile coffee is. Must be the same underlying dynamics:  Not volatile enough. But there is a point here, historically grain was used as a backing asset for the first occurrences of currency. Other than that the similarity ends here since it isn't really limited, it is mainly dependent on fundamental production demand and it is consumed. |
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Bitcoin will become obsolete once there is a cryptocurrency which does exhibit the following properties: - the possibility for split-second confirmed transactions
- logarithmic growth of storage space and network bandwidth for transaction data (Bitcoin is linear to exponential)
- a significant fraction of Network computation consists of useful work
I know the former two can be solved, only the latter one would require some new innovation. By the time this is even possible bitcoin will be a mainstream currency. At that point there will be no reason to switch over. too big to fail? famous last words. The demand for these innovations will not simply go away. Even in a scenario where Bitcoin were to have absolute majority such a significant innovation will consume it. The market cap of bitcoin is over a billion dollars and that number will continue to rise. It will be almost impossible for anything to catch up to that unless there is something really special about it. Even then it won't deter most bitcoin users. That isn't really a coherent chain of arguments. I would think it more likely that Bitcoin evolves little by little, instead of being entirely replaced by an alt. coin.
Hopefully. But some important innovations are architecture dependent and can not be done. It is at this point where Bitcoin is going to be replaced. |
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On a more serious note, both seem to be healthy for bitcoin. Not sure why you have it out for rpietila so bad.
If you ask me, It's a cargo cult. More specifically it real action roleplaying as the monopoly man. This ^ I just found exclusive photos of the Bitcoin Supernode Summit [NSFW] |
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On a more serious note, both seem to be healthy for bitcoin. Not sure why you have it out for rpietila so bad.
If you ask me, It's a cargo cult. More specifically it real action roleplaying as the monopoly man. |
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Hey smoothie
Let's make our own movement with people that own 1 to 10000 BTC.
And what incident with 13 BTC?
He sent 13 BTC to nkspace to prove he had bitcoins (moreso that he had TONS of them)...just to have nkspace run off with his bitcoins. It was a classic fail on this forum. Haha wow, I had a similar discussion with him but I kind of 'lost it' when he didn't know how to sign a message with his wallet. |
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rpietila sufferes from acute USIalso see Reasons for Elitism There are multiple reasons someone may think themselves less pathetic than the rest of the human race. This is usually due to the following reasons:
They are thinner than you
They have larger breasts than you
They are dragons
They hate fags more than you
They are more conservative than you
They are more liberal than you
They are gayer than you
They eat moar placentas than you
They have more artistic talent than you
They have more pageviews on deviantart than you
They know of things you've probably never even heard of before
They are more straight edge than you
They are moar special than you
They are more batshit insane than you (see Insanity Wolf)
They believe in God less than you
They believe in God more than you
They belong to an oppressed fandom that is not a choice
They drink more blood than you
They value The Truth more than being liked
They are cooler than you
They have an older religion than you
They know that nobody's perfect and they've got to work it again and again until they get it right
They know that the above reason is complete faggotry, and you don't.
They have more venereal diseases than you
They use more transitions and special effects than you.
They have more "friends" at Facebook than you do. |
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Like Bitcoins rhodium exhibits three properties: It is very rare, (much) rarer than Gold It is somewhat of a fringe investment It is subject to hypes And most importantly it is one of the few actual assets which exhibit wild price swings.   I find it very interesting how chaotic those are, so if you think to know what bitcoin will do next over any longer period of time: Think again  |
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All this is long term. What about short term, like today, this week, this month.
There are only 3 days left this month  But the long term picture should be decided in the next 20 days or so I think. |
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Anybody who realized just now this is really a bubble and 50 wasn't the bottom.
again, how can the bubble model account for the minibull to $160? nothing like this happened in June '11. --arepo The infamous anatomy of a bubble chart calls this Return to "normal" i don't buy it.  looks more like 'final capitulation' to me, and a really bullish one at that. the market bottom is right now, and everyone's terrified on the sidelines. remember "bitcoin never crashes below its previous high?" that support at $120 is stronger than what's on the order book. Look at the timescales involved. We barely tanked to the point of where hyperbolic growth started. And press interest & Google trends hasn't followed the price this time. But I don't really care not that anybody accuses me of trying to talk the price down, for all I care we can go up past 266 and reach quadruple digits this year. But if that actually happens we are in for a even harder smackdown afterwards. |
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Anybody who realized just now this is really a bubble and 50 wasn't the bottom.
again, how can the bubble model account for the minibull to $160? nothing like this happened in June '11. --arepo The infamous anatomy of a bubble chart calls this Return to "normal" |
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Over time, as competing currencies show their worth, you can gradually acquire the new currencies using your BTC holdings, which by that time, may be worth several thousand US$ each.
That would imply somebody would actually prefer BTC to a superior competitor. |
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Here comes the panic again? Fun times! I'm going to buy a crazy amount of coins at $100 if it gets there.
not nearly as violent as the last time we bounced off $0.12. Nowhere near the volume. I doubt we'll even retest $0.12 Please don't tell me you actually jumped on the "Lets use millibitcoin and pretend this is sustainable" bandwagon? I'm going to start doing this. Ignorance is bliss uh? |
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you guys are fools if you think we're going to break $120 any time soon.
Famous last words?  we'll see. everyone is terrified, talking gloom and doom, while the price simply consolidates, so it looks like a market bottom to me. let me ask you this: who is going to dump now, after a day of quiet consolidation, who didn't dump two days ago? the proportion of weak to strong hands plummeted after the most recent panic sell -- everyone's just on the sidelines. there won't be enough volume to break under $120 on the weekend, and by Monday the buyers are going to be a little less wary. --arepo Anybody who realized just now this is really a bubble and 50 wasn't the bottom. |
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Here comes the panic again? Fun times! I'm going to buy a crazy amount of coins at $100 if it gets there.
not nearly as violent as the last time we bounced off $0.12. Nowhere near the volume. I doubt we'll even retest $0.12 Please don't tell me you actually jumped on the "Lets use millibitcoin and pretend this is sustainable" bandwagon? |
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Aes is encrypting, not hashing.
hmm, so it cant be used in coin generation? It could. Lookup "AES hashing" |
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Bitcoin will become obsolete once there is a cryptocurrency which does exhibit the following properties: - the possibility for split-second confirmed transactions
- logarithmic growth of storage space and network bandwidth for transaction data (Bitcoin is linear to exponential)
- a significant fraction of Network computation consists of useful work
I know the former two can be solved, only the latter one would require some new innovation. By the time this is even possible bitcoin will be a mainstream currency. At that point there will be no reason to switch over. too big to fail? famous last words. The demand for these innovations will not simply go away. Even in a scenario where Bitcoin were to have absolute majority such a significant innovation will consume it. |
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Bitcoin will become obsolete once there is a cryptocurrency which does exhibit the following properties: - the possibility for split-second confirmed transactions
- logarithmic growth of storage space and network bandwidth for transaction data (Bitcoin is linear to exponential)
- a significant fraction of computation consists of useful work
I know the former two can be solved, only the latter one would require some new innovation. |
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I'm glad Kaiser finally came to senses. |
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Yeah, yeah we already had that, you are repeating yourself.
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