UASF forkers have zero ground to stand on IMO and is really nothing more than a Sybil attack in practice: UASF activation would prove in practice that full nodes have power over rogue miners again, and thus the latter can no longer hamper or otherwise hinder Bitcoin development as they have been successfully doing for the last few years. The BIP148 proposal means activation of SegWit without miners' prior consent (or even despite their resistance)
Basically, miners are told to pack their things and go home if they disagree (provided this proposal gets accepted, of course)
Nothing you're saying makes any sense because if you believe there are "rogue miners" or a mining cartel who centrally controls the network, there's obviously no Nash equilibrium and bitcoin has no value in the first place. One does not simply remove power from the miners without also proclaiming bitcoin a failure at the same time. You're also claiming a centralized development team should have full control over the chain as well and that the economic incentives that are supposed to make bitcoin work don't work. |
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UASF activation would prove in practice that full nodes have power over rogue miners once again, and thus the latter can no longer hamper or otherwise hinder Bitcoin development as they have been successfully doing for the last few years. The BIP148 proposal means activation of SegWit without miners' prior consent (or even despite their resistance) Basically, miners are told to pack their things and go home if they disagree (provided this proposal gets accepted, of course) Nothing you're saying makes any sense because if you believe there are "rogue miners" or a mining cartel who centrally controls the network, there's obviously no Nash equilibrium and bitcoin has no value in the first place. One does not simply remove power from the miners without also proclaiming bitcoin a failure at the same time. You're also claiming a centralized development team should have full control over the chain as well and that the economic incentives that are supposed to make bitcoin work don't work. |
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^^The master race up in here.  Not yet, but soon.  |
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Scenario:
Apocalypse happens,
So tired of people claiming gold and silver are only useful during a zombie apocalypse. The last time I checked, the percent of time metals are used as money is about 4 billion times higher on normal afternoons than mad max scenarios. As for why everything except silver and gold are trash: The real question is, why would anyone use such a thing over gold and silver? It's blatantly obvious no cryptocurrency is an actual store of value. How could such a thing be that doesn't even exist in the first place? That's why it has the word "currency" in the name cryptocurrency and not "money". All currencies are inherently worthless and go to zero on a long enough timeline, while only gold and silver remains. Since money is a zero sum game, allowing anyone to pretend to be god and act as a central banker issuing currency for profit is a master and slave dynamic. Hence anyone not using gold and silver is a slave.
Bitcoin kind of tricked people into thinking it replicated those dynamics of gold and silver, but in reality it's designed to centralize into a rent seeking usury system controlled by mining cartels, and those are the new central bankers. So the fact still remains, anyone not using gold and silver is a slave.
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With all fixed supply models (bitcoin et al) the price is the variable.
With Radix the supply is the variable. Granted, the attempt isn't to "fix" the price, but to substantially smooth out the high volatility through autonomously generated supply based on the demand.
The real question is, why would anyone use such a thing over gold and silver? It's blatantly obvious no cryptocurrency is an actual store of value. How could such a thing be that doesn't even exist in the first place? That's why it has the word "currency" in the name cryptocurrency and not "money". All currencies are inherently worthless and go to zero on a long enough timeline, while only gold and silver remains. Since money is a zero sum game, allowing anyone to pretend to be god and act as a central banker issuing currency for profit is a master and slave dynamic. Hence anyone not using gold and silver is a slave. Bitcoin kind of tricked people into thinking it replicated those dynamics of gold and silver, but in reality it's designed to centralize into a rent seeking usury system controlled by mining cartels, and those are the new central bankers. So the fact still remains, anyone not using gold and silver is a slave. |
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"Kraken Raises Bitcoin Withdrawal Transaction Fees to $7"
lol, fuck this rent seeking usury system.
It's going to be interesting to see how many blockchain cheerleaders are left when the transaction fees are like $50 and all transactions are faith based off-chain. The Gavinator did once say high fees are a great problem to have but I don't think he had this in mind. Another thing that's always amused me about bitcoin is how they renamed Orwellian police state where all transactions are traced and monitored to "blockchain" and suddenly people thought it was cool. What's up with that?
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That 'market share' isn't coming back. Crypto has diverged for good no matter how shitty or wobbly the different paths are.
It's because the noble metals are the most suitable thing for use as money on earth, and of those noble metals, gold was the best choice since it doesn't react with oxygen. Another noble metal is then needed to increase granularity of gold to prevent counter party risk, and silver is the only good candidate there. This means there is a functional Schelling point for gold and silver as money, while in cryptocurrency there is actually a REVERSE Schelling point where people are incentivized to branch out and create new ones in order to try and get windfall early adopter profit. Nobody is able to just walk out and invent a new noble metal, so this doesn't happen there and the Schelling point of gold and silver is preserved. |
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Luke-Jr has lost his mind: While I don't agree with everything they do/have done, or their approaches, I don't consider Ethereum to be a scam.
Anything claiming to be a "decentralized currency" and then holds an IPO is obviously a scam. You can't have an IPO for something claiming to be decentralized because nobody controls the money supply of something "decentralized" by default. It's literally a 1:1 replica of the movie Wolf of Wall Street and nothing more, or the central banker model who issues currency out of thin air for their own benefit. |
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Without a force of consensus there is no convergence and you get defect-defect divergence.
The "force of consensus" = Schelling point = gold and silver, of which there are only two, not 700 different cryptocurrencies with horrible distribution of which there will never be convergence on anything. Cryptocurrency not only has no Schelling point, it has a...REVERSE Schelling point because you're incentivized to break off from bitcoin, buy a bunch of lower priced coins, then try to pump it higher (like Sidhujag). Nature, "god", whoever, created a very small amount of noble metals so it's not really possible to do this with real money. |
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It is very demotivating for me to come into work when in one day I made more money than almost 2 years salary.
You should re-read what you just typed, because there's probably hundreds of people reading your post who have had the exact same feeling with some altcoin before, then they tried to ride the profits higher and they vaporized taking them back to square one. The fact is, the second any type of life changing profits occur, the price always craters right after. What % bitcoin can rise in a short duration before said action occurs is up for debate though. Having any type of life changing profit occur and then not taking any profit off the table is the definition of insanity. Profit in what? A currency that will likely go away in the next 10 years due to a debt bubble and more wars? I stay at work mainly because it allows me to continue my high risk investment without worry of starving if it goes to zero. If I were to quit I would buy real estate or something that will sustain me for decades. You've already reached the peak of risk in your high risk investment. Anyone can click the 2 year chart and see that. It's an obvious unsustainable bubble and anyone cashing out here will not be missing much. I imagine it will do something like a 50% retrace off it's base, which would take it to something like $2100, but the pumpers may or may not try to take it a few hundred higher first. This is literally a textbook pump and dump and it's easy to see from the non-aggregate market movements. Bitcoin has probably never once behaved as an aggregate market. Every single move is just some entity like Digital Currency Group trying to manipulate it in a certain direction to profit.  |
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It is very demotivating for me to come into work when in one day I made more money than almost 2 years salary.
You should re-read what you just typed, because there's probably hundreds of people reading your post who have had the exact same feeling with some altcoin before, then they tried to ride the profits higher and they vaporized taking them back to square one. The fact is, the second any type of life changing profits occur in any asset, the price always craters right after. What % bitcoin can rise in a short duration before said action occurs is up for debate though. Having any type of life changing profit occur and then not taking any profit off the table is the definition of insanity. |
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Bitcoin is in a bubble when you have Japanese housewives talking about how "grateful they are to find bitcoin scheme because Japanese pensions are failing", but Mark Cuban is a snake that changed his communist Jewish last name (Chabenisky) to pretend to be another race and then shill against white interests while pretending to be white (or implied "cuban"). All you had to do is watch his actions of constant shilling against Trump during the 2016 election to see international organized Jewery in full force shilling against everything they don't control. |
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Guys like you always lose. You will spend your life fruitless i know people like you. Stuck in their ways cant see the market. Dont try to make the market do what you want do what the market wants. Gold is hopeless.. it was left behind for a reason. Commodities are headed back to utility value and under that to test miner resolve. After that we will see black swan which will send it to some nice lows. Then we will see.
What a load of shit. A "black swan" to send metals to "nice lows" HAHA. The only black swan capable of doing anything to metals is a black hole swallowing the earth. Meanwhile, there's about 1 million black swans that can destroy bitcoin. So many liars in this thread claiming bitcoin is a more sound monetary system. Anonymint has also jumped on the lying bandwagon where he used to parrot Armstrong's claim that the purpose of metals are "a hedge against government", then he started claiming cryptocurrency is better than metals except cryptocurrency provides no hedge against government whatsoever. Cryptocurrency is a massive counter party risk to government. You're using the governments infrastructure to even use it for fucks sake. So by his own definition there is no purpose to cryptocurrency. |
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I used to love bitcoin and now i hate it. Its slow, transaction fees are over the roof and it seems there cant be any consensus of future development... Centralised Chinese based mining...Still hold it, but i am disappointed with BTC... very disappointed...
The fact that scalability is low and minining can be cornered by cartels means Bitcoin has been destined to be nothing more than a rent seeking usury system for a LONG TIME NOW. #thegoyimknow |
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I dislike your signature finding it disrespectful to a people and faith I hold in high esteem It's not my fault there's a big mass of brainwashed people who want to be shabbos goy cuckolds to the jews even though almost every single one of their actions through history is hell bent on undermining or usury enslaving civilizations that aren't their own. Jews are basically enemy combatants in a war on humanity. They always form a state within a state to the detriment of their host country in other words, and this is why they are always expelled (over 100 times and counting now). They're roughly the same as having termites get into your house. They're conmen who play the victim while being the aggressor, usually a strategy reserved for demented females, but used constantly by jews. You can now stop with your condescending attitude because any shabbos goy cuckold shilling for their own enslavement and destruction is far lower on the totem pole than I am. I'll be having none of that. This is Sparta. |
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Gonna place this prediction here for sake of posterity to look back in a few years: and now we have sound money with blockchains, so goodbye gold/silver.
This will be the dumbest comment you ever make in your life. Bitcoin is nothing more than a linked list with a get rich quick ponzi scheme built on top of it via halvings. Calling that sound money is a real knee slapper. If any random fool can create a linked list with a get rich quick scheme built on top of it in their basement, how is it "sound money"? It's not. The whole thing is a giant rough consensus attack with no Schelling point. It is NOT solved by "network effect" either due to bitcoin inherently being a highly scalability constrained system from being multiple redundancy and storing everything forever. Fees will skyrocket and people will move to the next thing rather than face extreme usury. If everything goes off-chain instead to try and mitigate the fees, it would be no different from the current US dollar. Yea, you can try and drop the blockchain to lower redundancy and increase scalability like Fuserleer is doing with Emunie, but then it becomes even less sound money (or scale via partial order instead of total order and blackswan the system to death). This is not like the Cambrian explosion of evolution where a lot of new things appear then it drops off. People will continuously create hundreds of these things every year to try and scam money from people as long as there's profit in it until the whole system just dilutes to nothingness and collapses. There will be a million digital scamcoins but still only one gold and silver. The alternative would be the state forcing draconian legislation on creation of cryptocurrency + running mining pools, etc, but at that point it will be a completely centralized "government coin" with no purpose to exist in the first place. In the end, most people working on cryptocurrency are just doing free labor R&D for the US govt and international banking cartel. |
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and now we have sound money with blockchains, so goodbye gold/silver.
This will be the dumbest comment you ever make in your life. Bitcoin is nothing more than a linked list with a get rich quick ponzi scheme built on top of it via halvings. Calling that sound money is a real knee slapper. If any random fool can create a linked list with a get rich quick scheme built on top of it in their basement, how is it "sound money"? It's not. The whole thing is a giant rough consensus attack with no Schelling point. It is NOT solved by "network effect" either due to bitcoin inherently being a highly scalability constrained system from being multiple redundancy and storing everything forever. Fees will skyrocket and people will move to the next thing rather than face extreme usury. If everything goes off-chain instead to try and mitigate the fees, it would be no different from the current US dollar. Yea, you can try and drop the blockchain to lower redundancy and increase scalability like Fuserleer is doing with Emunie, but then it becomes even less sound money (or scale via partial order instead of total order and blackswan the system to death). This is not like the Cambrian explosion of evolution where a lot of new things appear then it drops off. People will continuously create hundreds of these things every year to try and scam money from people as long as there's profit in it until the whole system just dilutes to nothingness and collapses. There will be a million digital scamcoins but still only one gold and silver. The alternative would be the state forcing draconian legislation on creation of cryptocurrency + running mining pools, etc, but at that point it will be a completely centralized "government coin" with no purpose to exist in the first place. In the end, most people working on cryptocurrency are just doing free labor R&D for the US govt and international banking cartel. |
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There is no way to escape these people via the digital domain. The only way out of the debt based and/or usury system is by physical metals used in native coin form.
What if they decide to confiscate or heavily tax possession of gold and silver one day? there is no escape The answer to that question is simple. It's highly cost effective and easy for bankers who have co-opted the government to turn the internet into a police state where all transactions can be tracked, monitored, and gouged for fees, while it takes thousands of orders of magnitude more energy and resources to monitor every square inch of physical space in the real world, as opposed to the digital one. It's just not doable. Real freedom is found where it's not economical to establish a police state, not places where it's cheap and easy. |
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I know that we want to keep on writing off ETH - but there is continued and ongoing pump..
It's a 90,000 BTC volume digibyte day on Poloniex. If there was ever a sign cryptocurrency has reached peak pump and dump, this is it. There is no schelling point for any of this crap. There's also no schelling point for bitcoin because it will always be highly constrained by scalability and thus high fees. "Money" that requires some type of fees solely to exist at all (constant payment to miners 24/7) is also the hallmark trait of a debt based currency. Our current debt based US dollar is a rent seeking usury system that requires a constant interest payment for the money to exist. Bitcoin is basically the same thing, just the whole process is obfuscated so that you don't know who the beneficiaries are. The current beneficiaries are the Chinese mining cartel, but if bitcoin didn't die, they would eventually be replaced by the same international bankers from the BIS who run the US dollar running the mining pools. They'll just toss in some enormous regulatory hurdles where virtually nobody can mine economically without being a criminal, then they'll slip in and run the pools, hike fees to the moon, and censor any transactions or change the protocol at will. There is no way to escape these people via the digital domain. The only way out of the debt based and/or usury system is by physical metals used in native coin form. |
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It's good to have both. I'll be getting myself some bullion soon.
I find it funny that on Zerohedge people argue about whether bitcoin or ethereum is better and the end result of what is "better" is not determined by any characteristics of the cryptocurrency, but whichever one is easiest to convert to silver or gold. The current Zerohedge stance is that Ethereum is 100% useless since no bullion dealers accept it. |
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