I hope most people who are interested in namecoin are aware that one mining pool has a majority control over the namecoin network... f2pool now controls 75% of the hashrate of namecoin. The significance of this should be readily apparent.
... this outcome maybe the inevitable result of the economic incentives due to merge-mining. And a lesser degree due to poor code-base maintenance. |
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Silk Road bust was an end/beginning of the last big run up (after sell off purge).
Gox/Karpeles arrest and airing of dirty laundry feels like another acceptance phase end/new beginning.
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Heh ... that graph makes Apple look like a big, fat, ripe bubble getting ready to go POP!
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Wow, this is a very interesting story. Follwing that reddit page from now on, nice to see some insiders presenting facts!
What part of your life history makes you think some guy on an Internet forum is "presenting facts"? |
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I'm sure he will go to prison for something whether it be fraud theft or just gross negligence/incompetence. Would be interesting to find out what actually happened to the bitcoins. Does Mark still have them somewhere?
... seems the prime suspect is now an old lady in a castle in switzerland. |
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It's entirely possible the bubbles were manipulated sadly. Maybe that's a good thing though. Bitcoin needs time to grown and not just shoot up and down on a whim. I don't understand why he would use an account to buy at a surplus rate and not use other accounts to sell at those rates. I.e. why not buy and sell from himself? That way he would not need to include fiat in the equation at all. Buying from his customers would mean having to produce fiat.
Well he needed the fiat coming in and it didn't matter about money going out because he blocked the withdrawls so no money went out eventually and that's how people lost pout because there was no real money or coins. Why even go down that route? No fiat would come in by him buying bitcoins from exchange users. He was only putting himself in debt. It makes no sense. Unless he was trying to accumulate BTC? It was easier for him to inflate the price by buying and selling to himself (using fake accounts) and then to sell the BTC at those inflated prices. I think you are right we wont see another massive bubble. Just a slow grind. If he was only letting fiat come in (stopped fiat withdrawls), and meanwhile sitting on a large stash of BTC, then the way to pay out least total fiat value of redemptions was a higher btc price ... meaning the show could carry on only until the BTC ran out, which would happen much quicker when the BTC price dropped. Sounds like it became just a classic Ponzi scheme by the end, robbing Peter to pay Paul. Then you have to ask yourself if the willy bot was only source for the wave up why did the wave up end before Gox blew up? ... there are other reasons that simplistic explanation doesn't stack up also, like Chinese exchange volumes and price reaction to bitstamp crash on way up etc. |
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Wow, this is crazy. Will this sort of thing also happen in Greece?
And it's scary that this is expected to be the same sort of restructuring that will affect EU banks. Is it safe to keep more than 100K EUR in any European banks at this point?
The EUR 100k limit is a temporary raise from EUR 20k and some countries have started lowering the limit back to EUR 20k I think it is safe to assume that most of the money in most EU bank accounts does not really exist. AFAIK the last BIS Basel III 'accords' was for less than 8% Tier 1 capital backing. I.e. if more than 8% of the money in EU banks was to be withdrawn by the banks' customers they would be insolvent. |
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Top 0.111% own 81% of the wealth  https://en.wikipedia.org/wiki/Distribution_of_wealthIf bitcoin "goes mainstream" it won't make much difference to it's value relative to fiat until the top 0.111% make a move into bitcoin. Unless the mainstream accept only bitcoin in trade forcing some portion of the top 0.111%'s wealth to adopt. |
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what can i do to get connections unstuck from zero? "version" : 110000,
"protocolversion" : 70002,
"walletversion" : 60000,
"balance" : 0.00000000,
"blocks" : 366904,
"timeoffset" : 0,
"connections" : 0,
"proxy" : "",
"difficulty" : 51076366303.48192596,
"testnet" : false,
"keypoololdest" : 1407033834,
"keypoolsize" : 101,
"paytxfee" : 0.00000000,
"relayfee" : 0.00001000,
"errors" : " " Hire a wretchedly expensive consultant who knows what they are doing. Maybe someone who is knowledgeable about bitcoin and gets paid insane amounts of money for endorsing bleeding-edge cryptographic hashing equipment and algorithms. |
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Yeah I think we can handle 2 MB or maybe even a hike to 4 MB, if it was held there for at least 3-4 years.
Doubling every 4 years, i.e. at rate of upload bandwidth limit growth, makes sense for the next 5-10 years ... and then who knows.
Marcus, what you say is very reasonable. Although I have been supporting "increase the limit" all the while I wanted to see a counter-proposal from core dev which was something other than keep 1MB and see what happens. They did not even show much enthusiasm for Jeff's BIP 102, or even reworking it in some way. All the while championing Gavin and Mike's PanoptiCoin on scamming-shill frap.docs's sad old echo-chamber thread ... so w/e you say. Made your bed, time to lie in it. |
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Only the biggest corporations (and TLAs) who can run PanoptiCoin nodes will have privacy ... and an asymetric information advantage over the plebes.
Those that are committed enough to run a full node handling 1MB blocks, will likely retain the same commitment with 2MB blocks. I'm not buying the argument that any increase in throughput automatically leaves us with a handful of nodes run by corporations and governments. I am in favor a small increase, like Jeff's 2MB. Mainly to break the ice that has formed over this polarizing debate and to measure and study the impact in preparation for more long term scaling solutions. Yeah I think we can handle 2 MB or maybe even a hike to 4 MB, if it was held there for at least 3-4 years. Doubling every 4 years, i.e. at rate of upload bandwidth limit growth, makes sense for the next 5-10 years ... and then who knows. Quantum computers or whatever next best cryptocoin is always the unknowable just around the corner anyway. Not sure if we can defend 8MB and growing rapidly though, looks like a slippery slope trap! |
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Every time the big block, big brother, panopticoin bitcoiners come out in full force the price dumps ... any wonder?
The market is just coiling like a spring, ready to explode once all participants realize a maximum of 3 tx per second, forever, is CRITICAL for bitcoin's success 300,000 tx per day is actually not bad for a settlement rail. Growing within upload bandwidth limits puts us at 1.2 million tx per day currently and doubling roughly every 4 years. No need to hand over all our financial histories to the PanoptiCoin mike H. and his Googley-eyed buddies at the NSA. Your complete financial history has been on the public blockchain from the first transaction you made. I don't see how 2MB blocks would change this. Only the biggest corporations (and TLAs) who can run PanoptiCoin nodes will have privacy ... and an asymetric information advantage over the plebes. |
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Every time the big block, big brother, panopticoin bitcoiners come out in full force the price dumps ... any wonder?
The market is just coiling like a spring, ready to explode once all participants realize a maximum of 3 tx per second, forever, is CRITICAL for bitcoin's success 300,000 tx per day is actually not bad for a settlement rail. Growing within upload bandwidth limits puts us at 1.2 million tx per day currently and doubling roughly every 4 years. No need to hand over all our financial histories to the PanoptiCoin mike H. and his Googley-eyed buddies at the NSA. |
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Every time the big block, big brother, panopticoin bitcoiners come out in full force the price dumps ... any wonder?
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we break 300 tomorrow.
a human breaks wind 15 times a day, on average. |
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This is Ladies. Yep, I work in IT and know several ladies who use bitcoins, some of them get paid in bitcoins for their freelance work.
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BTW: Homeland Security was storing all the seized Bitcoins on a Trezor that they either purchased or seized from someone else! Excellent. HS uses Trezor. |
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soon 1 oz of silver will be worth 320+ bitcoins ..
your a fucking MORON but you realy knew that so good night bitch. and 1 bitcoin can buy your brains  problems with bitcoins: A. "dumb people" are going to lose bitcoins if and when more people use them. B. "dumb people" are going to lose bitcoins through malware hacks.. security for bitcoins is gimped for newbs . Bitcoin is not for dumb people, and that's the same for most kinds of money and why banks exist. |
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Well yeah the 2020 halving is also 'priced in'. Everyone knows the economy behind Bitcoin production and inflation. Knowing from the start when halvings in production are taking place and having a cap on the total money supply is why many people are here and why many speculators forsee an increase in price over time as long as new money >= coins wishing to be sold.
Yes, nothing happened after the first halving when the price was $9 because it was priced in. Nothing happened soon after that. Can't fight science. Within 6 months after the last halving bitcoin went up 10 fold, within 12 months it went up 100 fold. Nothing is priced in since monetary good pricing is subject to a huge amount of inertia (stock-to-flow ratio very high) but when that inertia is overcome by pricing at the margin (true demand/supply) the new level can be very much higher and fueled by pricing perceptions and a large amount of speculative psychology. |
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