I hope Adam is enjoying this, wherever he is  |
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in my Twitter conversation with @Truthcoin today, it's so clear that all he wants to do is tap into "mobile Bitcoin" for the value sapping. he doesn't care that the BTC converted to Cashcoin or whatever shitcoin is involved with Truthcoin is put at risk. he sees SC's as a way to exploit Bitcoin.
i suggest every other altcoin will attempt the same bolt on strategy.
I also have the feeling he is using the peg as a "risk-adverse" aspect when in fact he has no plan to peg 1:1. Oh well... fools.. money..parted as contentious as our debates got, you have helped me crystalize my understanding of how SC's are going to play out. i totally agree that the best use of SC's for Bitcoin are as development tools for your "utility" chains as you call them. the only problem with that is they will only be applied and developed for those specific uses that help Bitcoin as Money. and as you have said, this will probably only include those related to fast tx and anonymity and those will be the only SC's that garner BTC use and MM. but that is very limited and highly focused. they will be devved out of the public good as that will increase Bitcoin value even while not paying devs directly. but that won't stop all the thousands, if not billions, of "companies" that will bolt onto the MC via the 2wp in an attempt to suck out BTC value. i no longer conceptualize SC's as blockchains or ledgers running parallel alongside Bitcoin's blockchain. i think of them as circles (for profit companies) with small unique ledgers within them that will have just as many different rules and manipulations that go on in fiat companies. think of the TC diagram. and they all will advertise with over-the-top claims to fame just like TC. whether or not BTC holders can resist speculating in these companies should require exceptional diligence but i don't for a minute believe ppl will be able to resist. in that sense i still don't think SC's are a good idea in that those highly focused utilities should be able to be developed on MC. I think what you tend to forget is open source democratizes that process and bad actors will get weeded out. Can you present an example of such companies that will attach to the mainchain and how they would go about devaluing the units locked into their sidechain? I'm sorry but TC is a pathetic example and an obvious scam that will attract so much suckers before it gets exposed. |
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Huobi has just gone mental
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in my Twitter conversation with @Truthcoin today, it's so clear that all he wants to do is tap into "mobile Bitcoin" for the value sapping. he doesn't care that the BTC converted to Cashcoin or whatever shitcoin is involved with Truthcoin is put at risk. he sees SC's as a way to exploit Bitcoin.
i suggest every other altcoin will attempt the same bolt on strategy.
I also have the feeling he is using the peg as a "risk-adverse" aspect when in fact he has no plan to peg 1:1. Oh well... fools.. money..parted |
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Charlie Songhurst from Katana ended the Bloomberg panel with a fantastic quote I have to share
"Innovation isn't random chance, it's a probabilistic outcome based on labour and capital. If you want to monitor the health of the ecosystem and know where the innovation is at ; look where smartest developers and savyest VCs are putting their labour and capital."
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Isn't she on-board with Ripple? None of those statements are surprising then.
she's a fraud  first question from Q&A is why the classic Bitcoin and not just "blockchain" fintech innovation and she's the first to reply with "Ripple!" it's a shame though cause it does seem like she sees the value proposition when she develops her answer furthermore... |
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I see in that video how they instantly mention the negative of a large currency unit. Do people really want to be fiddling with tiny little bits, ie. roughly why litecoin and possibly also dogecoin are maybe better liked; you can have 10 and its not a great big deal to handle. Simple thing but its factor to the masses imo
Same thing can be argued with gold. Just a gram is more then many people would carry in their back pockets without thinking about it, common currency has to be just that if you really want mainstream
This can easily be fixed and in fact is being worked on. |
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Ugh - looks interesting... I really don't have time for this tonight. I *almost* (not really) miss the days when I could read/watch the past week's worth of mainstream bitcoin coverage in 10 minutes. yeah, me too. had to stop. but i will listen eventually mainly b/c of Susan Athey. she really understands the importance of the SOV aspect of Bitcoin. not too many of those around these days. She actually said "you don't have to hold Bitcoin". And that you should use it to send money around and cashing out to fiat edit : guy from TeraExchange said he imagines a massive derivatives market on top of Bitcoin, likens it to gold a lot. smart man edit2: susan athey is very confused. says you can hold you USD in coinbase. reiterates the notion "you don't have to hold Bitcoin for the system to grow" |
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Dan Pantera didn't defend the "money" position. I'm mad |
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so you've been snooping on our sidechains debate all along heh  Based on the occasional snide comments I see posted in other parts of the 'net, lots of people are watching this thread without commenting. so I'm famous now   |
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How much did David Chaum have solved at Digicash/eCash? Some of the notes on the relevant wikipedia pages suggest he had double-spending solved: ... Depending on the payment transactions, one distinguishes between on-line and off-line electronic cash: If the payee has to contact a third party (e.g., the bank or the credit-card company acting as an acquirer) before accepting a payment, the system is called an on-line system.[2] In 1990, Chaum together with Naor proposed the first off-line e-cash system, which was also based on blind signatures.[3] http://en.wikipedia.org/wiki/EcashAnyone have any more info on this? Was eCash's remaining problem merely initial-coin distribution, or was BGP actually not (practically) 'solved' despite the above? I moved the question and my comments on it into another thread in dev/tech section https://bitcointalk.org/index.php?topic=856069.msg9526439#msg9526439 as its not really to do with speculation nor gold, though an interesting question! Adam so you've been snooping on our sidechains debate all along heh |
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 this is fun it's actually quite quiet in here as everybody is scrambling to get money to exchanges or into Circle/Coinbase. i've seen it in a big way at least 5 times now. yawn. this is my first go at it  does it feel anything like last year? too early to say maybe |
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this is fun
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looks like he was on CNBC Fast Money a couple of an hour or so ago. wondered if he repeated his prediction, would be bullish
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Moon? i lol'ed: "So I said OK well let's assume it's something like gold—There's a finite amount of it," Pal said in an interview with Grant Williams on Real Vision Television. "There's a finite amount that's been mined. The rest is underground. We kind of know how long it's going to take before all the gold is mined or before all the bitcoins. Put them in the same kind of equation we get a value of bitcoin and that value is a million dollars. Now, you'll never hear an analyst say this—but I don't mind this—I could be wrong by 90%, and it's still worth $100,000."http://uk.businessinsider.com/raoul-pal-on-bitcoin-2014-11?r=USI suggest you watch the video at the end of the article if you haven't already. Much more interesting than the article. Only at the end does he drifts into nonsense suggesting gold will be improved to allow for currency use. It seems he hasn't accepted yet that Bitcoin is effectively gold's replacement but he definitely understand its value proposition he even uses the words "gold collapses"! is he here?  ask him for a shoutout on twitter, he'll probably get you even more views than me |
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Moon? i lol'ed: "So I said OK well let's assume it's something like gold—There's a finite amount of it," Pal said in an interview with Grant Williams on Real Vision Television. "There's a finite amount that's been mined. The rest is underground. We kind of know how long it's going to take before all the gold is mined or before all the bitcoins. Put them in the same kind of equation we get a value of bitcoin and that value is a million dollars. Now, you'll never hear an analyst say this—but I don't mind this—I could be wrong by 90%, and it's still worth $100,000."http://uk.businessinsider.com/raoul-pal-on-bitcoin-2014-11?r=USI suggest you watch the video at the end of the article if you haven't already. Much more interesting than the article. Only at the end does he drifts into nonsense suggesting gold will be improved to allow for currency use. It seems he hasn't accepted yet that Bitcoin is effectively gold's replacement but he definitely understand its value proposition |
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also refreshing to see someone dismiss the Bitcoin with the B and concentrate on the bitcoin currency |
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