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The problem wasn't the lack of a specification. The problem was the new version met the specification and the old version had an unknown bug that limited it to a subset of the specification. When the new version exercised this previously unused area of the specification space, it triggered the bug in the old version.
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Because you described exactly what I've been doing. All the metals I now have and most if my IRA came from bitcoin profits, but keep telling people not to buy. I'm still dollar cost averaging, and will continue to do so until I finish my masters degree and go back to freelance programming. Then, I will work for bitcoin only (or fiat with a 10% surcharge), and continue to diversify when my holdings get too large. The slower the price grows, the more bitcoin I will end up with.
Are you suggesting that I am telling people not to buy bitcoins?  You seemed very anti my message to not go all-in and to diversify bitcoin profits, but in your actions you did exactly that?  Also, how can you diversify away bitcoin profits, and at the same time aquire more bitcoins? I'm confused. I only got to where I am by going all in. Before bitcoin I had no savings. I diversify when my bitcoin holdings get too large due to price increases. I buy the same dollar amount every time I get a paycheck. It's not so complicated. |
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Fuck cities. If you are concerned with living frugally, getting away from other people will save you 10-20% a year. Everything is cheaper in rural areas.
Get a small house in the country, keep the basement full of food, and spend anything left over on bitcoins and other hard assets.
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Crashes coincide with increased volume, no?
If the lag does not exist on high volume moments when it is shooting going up, then maybe you have a point.
Have you ever seen an hour lag on an upswing? In 2 years, I haven't. Yes. I remember severe lag during the first run to 32. This rally has been much slower. |
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So maybe the best strategy is, go a lot in now, so that you can start selling ASAP?
 What do you mean with the wink?  Because you described exactly what I've been doing. All the metals I now have and most if my IRA came from bitcoin profits, but keep telling people not to buy. I'm still dollar cost averaging, and will continue to do so until I finish my masters degree and go back to freelance programming. Then, I will work for bitcoin only (or fiat with a 10% surcharge), and continue to diversify when my holdings get too large. The slower the price grows, the more bitcoin I will end up with. |
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It's not just downtime. It's a clusterfuck due to all transactions that will inevitably be reversed. I guarantee you a bunch of people lose a lot of money from this. Fortunately for me, I was able to sell some LTC at .0115 BTC  No transactions are being reversed at all. Where are you getting this false information from? He doesn't understand, clearly. You don't understand what I meant, clearly. I had to resend a transaction that was reversed post-fork. If you had a little more patience, it would have been reconfirmed in the new chain. There was just a very large backlog that is still being cleared. - The original problem of TX's building up in mempools still exists - if things get crazy, we can expect out of mem errors, and then dare not think of the consequences for the network. - A double spend was achieved, some people argue the "mechant" should have ignored the 2nd spend or similar, but it happened. Whilst, ppl saying all calm down, the fact that the fix did not work is awful long term, and must be addressed asap. And a hard fork happened, is pretty terrible. Cool story. I have no fucking idea what it had to do with my previous comment though. |
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It's not just downtime. It's a clusterfuck due to all transactions that will inevitably be reversed. I guarantee you a bunch of people lose a lot of money from this. Fortunately for me, I was able to sell some LTC at .0115 BTC No transactions are being reversed at all. Where are you getting this false information from? He doesn't understand, clearly. You don't understand what I meant, clearly. I had to resend a transaction that was reversed post-fork. If you had a little more patience, it would have been reconfirmed in the new chain. There was just a very large backlog that is still being cleared. |
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It looks like Bill Gates started selling off Microsoft shares from day 1 that it traded, continually diversifying his assets. Today only 15 billion USD is in Microsoft while his other 35 billion USD sits in his investment company very diversified. He started with, if I remember correctly 65% ownership in Microsoft and today he owns only 9%. http://www.joshuakennon.com/cascade-investment-llc-the-secret-holding-company-of-bill-gates/So maybe the best strategy is, go a lot in now, so that you can start selling ASAP? |
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Every time the BTC price crashes, Mt.Goxs' API goes to shit and trades slow to a crawl (or completely stop like it did for an hour this morning).
I can't be alone in thinking that this is price manipulation meant to prop up the price.
Same happens on big up moves. Quit using Gox until they fix their shitty trading engine. I haven't used Gox in over a year and couldn't be happier with my ability to convert to/from fiat. There are a lot more options these days. |
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IN 3 hours the price of bitcoins will be around 14 bucks. Mark my words
Words marked. I hope you didn't trade on your own advice . |
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lol.
BTC almost lost 20% in just minutes and you are telling people not to sell?
Shit man.. they cannot sell if they wanted to. bitcoin done broke for the next few hours.
The worst possible thing just happened. Your btc is literally a bunch of 0s and 1s until this all gets ironed out.
Nothing could be worse.
In fact, selling AFTER a 20% drop usually doesn't work out too well. The time to sell would have been back when we were still above 46. Also, this will be resolved within hours. Much quicker than the nightly downtime of fiat banks. |
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I was panicking a few minutes ago but asked around. The issue will be over in a few hours, and any crash will be momentary. Only 11 blocks or so were affected and it'll all be over very quickly. By tomorrow morning, we are back to business as usual.
Maybe we see a temporary dip, but that'll resolve eventually, because this issue is not really a big deal except for now. We don't see many hard forks and I'm sure the devs will be much more cautious in the future after this has happened.
This. Seriously, I'm just kicking myself for not having any standby cash in MTGOX. I'm kicking myself for not having funds in BTC-e! By the way, I see this as a huge, enormous, unbelievably fucking huge deal. This is completely different from a scam or a hack, this is an "accident" that just froze the whole fucking economy. To demonstrate why this is a huge fucking deal, consider yourself in two scenarios: 1) You are a Bitcoin "Big Dog" holding onto >10,000 BTC and you see, "URGENT: Chain fork" on your client. When the network reorganizes itself, how do you respond? 2) You are a wealthy investor and trader. You've heard about this Bitcoin thing and are amazed at its performance over the past few years, and you've become excited upon hearing that soon, exchanges such as CoinLab will allow you to purchase BTC in very large chunks and store them securely (i.e. safe from hacks/theft, etc.). But, after hearing about the recent Bitcoin fork, how confident would you be in the safety of your future investment? Bitcoin will still have far less downtime than fiat banks. |
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BREAKING:
MT.GOX KEEPING BITCOIN VALUE ARTIFICIALLY HIGH WITH OWN FUNDS
Wow, what the actual fuck is wrong with you? You were posting all day about how bitcoins are going to 1000, now you're posting this shit. Fuck you. ... you think i like this ?? i wanna get out as fast as possible but im blocked by mtgox using their centralized power to block me to get back in USD.. mt.gox is forcing their power upon the bitcoin network while the protocol promises such a thing is not possible in the least i should be able to speculate that mt.gox is also forcing the prices up so to make it look like its not some big issue while it is.. and i'm the one being 'fuck you-ed'? it should be the central powers here of bitcoin If you believe MtGox is the only way to sell bitcoins, you are blind or stupid. |
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Will it ever be possible to upgrade to a client which can support these large blocks? Seems to me we're going to be stuck like this.
Yeah, through a coordinated process. Most likely it will go like this: 1) We'll pick a block number on which to switch. 2) A new .8 version will be released the switches as of that block number. 3) It will be announced that everyone must update before that block number. 4) The switch will take place automatically. what happens to users who do not upgrade? and if bitcoin requires such drastic hand holding shouldn't this be programmed into the client? some type of ksplice like update? That would destroy any semblance of decentralization that remains. |
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PANIC SELL!! Price has just dropped to $30... Im buying at $29  On which exchange? He's bullshitting. There really isn't a big issue. In fact, I usually don't upgrade my software until there are other versions out after the one I upgrade to, so that I can avoid any issues like this. So everyone just relax. The issue isn't with 0.8, it's with 0.7 and lower. Because people like you didn't upgrade, we had to endure this chain fork. Yep, my 600mhash is really fucking the network. If all the pools, miners, merchants, and users upgraded, this would have been a non-issue. And that is true. But I am on 0.7.2, and like I said in my post, I refuse to upgrade software to 0.8 until something newer comes out, or unless my transactions will cease to work properly because I'm on 0.7.2. Trying to pin this on me is comical at best. There are hundreds of thousands of users who haven't even upgraded to 0.7.2, not to mention the ones who haven't upgraded to 0.8. So I am the least of your troubles. Hundreds of thousands of users? I see less than 10k nodes: http://luke.dashjr.org/programs/bitcoin/files/charts/branches.html |
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So, here's a Q for all you professional wall watchers:
Why/how is the price going up with buy volume lagging sooooo far behind. I don't really see any respectable volume on the buy side until $46ish. That seems like it'd just invite selling down to volume.
Stay classy, 420. Stay classy.
No sellers of any size. Anybody who would panic has done so already unless a really big bear comes along. Then you will see your selling down to volume. |
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I have student loan debt that I would be paying down more quickly if I wasn't dollar cost averaging into bitcoin instead. Does that count?
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repetition doesn't make it any more true, but according to a book I'm currently reading repetition is a reliable way to make people believe it.
Innnntersting. McCorvic is the smartest person alive. McCorvic is the sexist human being ever. McCorvic is in your base, killing your d00ds. McCorvic is the smartest person alive. McCorvic is the sexist human being ever. McCorvic is in your base, killing your d00ds. I now believe all statements of the form "McCorvic is ___________". |
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History shows saving in dollars to be foolish since the creation of the federal reserve.
I'll keep dollar cost averaging into sound money, thanks.
I agree. I did not advise saving into dollars. I advised saving into a Permanent Portfolio. Bitcoin at this point is not sound money. If it works out it will become sound money. Until then it is a speculation. Hence, you are dollar cost averaging into a speculation. 25% bonds, 25% cash sounds pretty dollar-heavy to me. You are advising saving in dollars if you are pushing this allocation. |
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