The purpose of mining is to create a permanent decentralized exchange, which thus results in a permissionless system.
The only way to achieve this is to make mining unprofitable. You should probably clarify your statement with some kind of exception because you've said you don't think IOTA is a functional system, but that quote in the context of this thread gives the appearance that you endorse it when you obviously don't. Well I didn't mean to remove the tail reward, i.e. retain ongoing issuance of coins in exchange for mining even though mining is unprofitable. Btw, Bitcoin has no tail reward but that isn't a problem for another 10 years or so. |
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Dont trust anyone who claims to know the exact date the market will crash.
Except the person who has done it so many times. Again it is never "the market will crash on this date". It is always an "if this, then that". All i now is that his 2015.75 prediction got blown out of the water. Zerohedge has been 'predicting' the great crash ever since 2009. Try reading this thread before you put your foot in your mouth. I already documented that the Baltic Sea index's dead cat bounce peaked exactly on March 13/14 turn date. And the 2015.75 turn date coincided precisely with either the refugee crisis start or Putin entering Syria (I forgot which it was). Armstrong never predicted a market crash on 2015.75. This is the turn date for the major downtrend for the sovereign debt crisis. And we got a major push to destroy Europe on precisely that Sept 30/Oct 1 date. |
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"Scam" doesn't really seem relevant here. Ethereum talked about what they planned on trying to deliver over a year and a half ago in these forums and did exactly that. They came out with prototypes long before release. If they'd run off with all presale money without delivering then "scam" might be appropriate but when someone does exactly what they say they are going to try to do you can't classify it as a scam - doesn't really fit the dictionary definition. Words mean stuff ... save scam for when it applies (and FUD too for that matter).
As to the scaling - ethereum has a roadmap that should lead it into feasable scaling with casper. At Bitcoin's current trajectory even quadrupling the transaction load would be death. At least ethereum acknowledges it as a problem and is taking proactive steps. Not some hellish wallet hack that should be done thru a hardfork WITH a blocksize increase.
FWIW I feel as uneasy with my money in ethereum as bitcoin. But his big picture view of what could happen with a price increase -> volume increase -> clogged transaction -> halving -> price drop -> further hash drop -> further price decrease reflects what I've been thinking for the last few months. I give it some probability of happening and I see it discussed very little.
At $500+, I don't know why anyone in their sane mind would hold Bitcoin. You aren't going to make +100% gain from $500 in 2016. No way Jose! The point of holding Bitcoin is for a long-term bet and with a lot of capital. For your quick 10 baggers, you have to play the bets with altcoins. The dollar will appreciate 30 - 50% from now through end of 2017. Since Bitcoin is a preservation of capital holding, it is a no brainer to sell Bitcoin $500 to $600 and hold dollars until later in the year and get some clarity. Btw, I think a double-top for ETH at $15 is likely. Too much bad news has come out, sentiment is negative, and I had always said it would bounce at $7. There needs to be a GPU mineable alternative to Bitcoin, same as the role Litecoin provided. It doesn't matter that ETH has no adoption. It is purely a store-of-value arbitrage/speculation proposition. P.S. I've removed rdnkjdi from my Ignore list because he only went there because he asked me to, he doesn't deserve to be grouped with the real trolls, and his posts lately are more thought out. |
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"Scam" doesn't really seem relevant here. Ethereum talked about what they planned on trying to deliver over a year and a half ago in these forums and did exactly that. They came out with prototypes long before release. If they'd run off with all presale money without delivering then "scam" might be appropriate but when someone does exactly what they say they are going to try to do you can't classify it as a scam - doesn't really fit the dictionary definition. Words mean stuff ... save scam for when it applies (and FUD too for that matter).
As to the scaling - ethereum has a roadmap that should lead it into feasable scaling with casper. At Bitcoin's current trajectory even quadrupling the transaction load would be death. At least ethereum acknowledges it as a problem and is taking proactive steps. Not some hellish wallet hack that should be done thru a hardfork WITH a blocksize increase.
FWIW I feel as uneasy with my money in ethereum as bitcoin. But his big picture view of what could happen with a price increase -> volume increase -> clogged transaction -> halving -> price drop -> further hash drop -> further price decrease reflects what I've been thinking for the last few months. I give it some probability of happening and I see it discussed very little.
At $500+, I don't know why anyone in their sane mind would hold Bitcoin. You aren't going to make +100% gain from $500 in 2016. No way Jose! The point of holding Bitcoin is for a long-term bet and with a lot of capital. For your quick 10 baggers, you have to play the bets with altcoins. The dollar will appreciate 30 - 50% from now through end of 2017. Since Bitcoin is a preservation of capital holding, it is a no brainer to sell Bitcoin $500 to $600 and hold dollars until later in the year and get some clarity. Btw, I think a double-top for ETH at $15 is likely. Too much bad news has come out, sentiment is negative, and I had always said it would bounce at $7. There needs to be a GPU mineable alternative to Bitcoin, same as the role Litecoin provided. It doesn't matter that ETH has no adoption. It is purely a store-of-value arbitrage/speculation proposition. P.S. I've removed rdnkjdi from my Ignore list because he only went there because he asked me to, he doesn't deserve to be grouped with the real trolls, and his posts lately are more thought out.
Dont trust anyone who claims to know the exact date the market will crash.
Except the person who has done it so many times. Again it is never "the market will crash on this date". It is always an "if this, then that". All i now is that his 2015.75 prediction got blown out of the water. Zerohedge has been 'predicting' the great crash ever since 2009. Try reading this thread before you put your foot in your mouth. I already documented that the Baltic Sea index's dead cat bounce peaked exactly on March 13/14 turn date. And the 2015.75 turn date coincided precisely with either the refugee crisis start or Putin entering Syria (I forgot which it was). Armstrong never predicted a market crash on 2015.75. This is the turn date for the major downtrend for the sovereign debt crisis. And we got a major push to destroy Europe on precisely that Sept 30/Oct 1 date. |
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without looking it up (i'm lazy tonight) gonna state you are wrong about the comparison of man's co2 to volcanoes.
Read what Armstrong wrote as quoted in my prior post. It is the ash, not the CO2 that matters. |
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Dont trust anyone who claims to know the exact date the market will crash.
Except the person who has done it so many times. Again it is never "the market will crash on this date". It is always an "if this, then that". |
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We have even backtested his numbers and you really do better coinflipping.
You are a liar. Publish your spreadsheet with unambiguous footnotes for every number in the spreadsheet. Until then, you are just a troll. Last time dow was taking hit he gave you "13000" support number, he literally had no clue what's going on. November he is telling dow gonna take of in march. In March he tells dow going to take in 2016 etc.
You are reading the same blogs as I am, but you are not comprehending what he is writing. You are looking at it the way you want to read it and not understanding the way his system works. If you gonna give resistance/support you better give the percentages of hitting too, and i want to see the backtested results for those percentages.
The system doesn't work that way. It is a "if this, then that" matrix. Not a "% chance of this and % chance of that". |
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The purpose of mining is to create a permanent decentralized exchange, which thus results in a permissionless system.
And even better than Bitcoin will be the coin where those newly mined coins are mined by the millions and billions of users, not by few 100s of professional miners (which is where Bitcoin is rapidly centralizing to). The only way to achieve this is to make mining unprofitable. I've explained this design, yet so many people remain skeptical. I'll finish the 'plaining in a white paper after it is too late to copy the design. Absent an automatic means in the economy where money naturally moves from the power law distribution wealthy back to the masses, then Socialism erects to do the job, which is then captured by the same power law which ends up in periodic 600 year Dark Ages. It is time for something better. Even better than Bitcoin. At least we have a somewhat decentralized Bitcoin in the meantime. I have work to do. |
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The purpose of mining is to create a permanent decentralized exchange, which thus results in a permissionless system.
And even better than Bitcoin will be the coin where those newly mined coins are mined by the millions and billions of users, not by few 100s of professional miners (which is where Bitcoin is rapidly centralizing to). The only way to achieve this is to make mining unprofitable. I've explained this design, yet so many people remain skeptical. I'll finish the 'plaining in a white paper after it is too late to copy the design. Absent an automatic means in the economy where money naturally moves from the power law distribution wealthy back to the masses, then Socialism erects to do the job, which is then captured by the same power law which ends up in periodic 600 year Dark Ages. It is time for something better. Even better than Bitcoin. At least we have a somewhat decentralized Bitcoin in the meantime. I have work to do.
The purpose of mining is to create a permanent decentralized exchange, which thus results in a permissionless system.
The only way to achieve this is to make mining unprofitable. You should probably clarify your statement with some kind of exception because you've said you don't think IOTA is a functional system, but that quote in the context of this thread gives the appearance that you endorse it when you obviously don't. Well I didn't mean to remove the tail reward, i.e. retain ongoing issuance of coins in exchange for mining even though mining is unprofitable. Btw, Bitcoin has no tail reward but that isn't a problem for another 10 years or so. |
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The purpose of mining is to create a permanent decentralized exchange, which thus results in a permissionless system.
And even better than Bitcoin will be the coin where those newly mined coins are mined by the millions and billions of users, not by few 100s of professional miners (which is where Bitcoin is rapidly centralizing to). The only way to achieve this is to make mining unprofitable. I've explained this design, yet so many people remain skeptical. I'll finish the 'plaining in a white paper after it is too late to copy the design. Absent an automatic means in the economy where money naturally moves from the power law distribution wealthy back to the masses, then Socialism erects to do the job, which is then captured by the same power law which ends up in periodic 600 year Dark Ages. It is time for something better. Even better than Bitcoin. At least we have a somewhat decentralized Bitcoin in the meantime. I have work to do. |
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The criminal allegations have been unarguably proven to be false upthread. I am not going to repeat it again. The mischaracterization of his predictions have been thoroughly refuted upthread as well. I am not going to repeat it again. Just for example, the following: then in 2013, when it was supposed to be taking off: Gold's going to drop below $1000 (Oct 2013) Gold – The Problem We Face | Armstrong Economics That thread is so ignorant of what MA was writing. It just boggles my mind how low the reading comprehension of humans typically is.  Get off our lawn. |
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You need to learn macroeconomics. thanks for your opinions ... if they were rare ( or even correct) they might be worth something, indeed you are prolific. You're welcome to try to refute Michael Pettis (PhD professor in China) who has been consistently correct in his predictions on China while being the skeptic that everyone thought should be ignored. Now he is respected because he was correct all along. Read his blog so you won't be so ignorant...or remain blissfully Dunning-Kruger as it is your prerogative. Try not to be such a tosser ... as from past experience a debate with you is worthless, to both sides concerned, good luck. Michael Pettis is knowledgeable on bitcoin mining? There is no debate, Chinese miners are killing it, that's all you need to know ... nothing in chinese macro-economics is going to change bitcoin mining in the foreseeable future, you're just out-to-lunch crazytalking again, seeking out conflict? Yeah don't bother your wasting his precious time anyway while he "codes" the bitcoin killer... lol Hey you two butthurt trolls, I was addressing the bolded statements as quoted below. I was obviously not refuting anything about China's control over mining. Duh. (that is obvious below even if you hadn't seen the numerous times I have mentioned that China is taking over Bitcoin mining) Smells like a lot of hurt white Western butt in here because they couldn't build computer hardware better, faster, cheaper than the chinese. Western white males measure themselves on technological success and they are getting pasted on the bitcoin hardware stakes so far ... time to up their game if they want to stay competitive. Harden up dudes.
Is this technology or more manufacturing brute force. China is leading as they can turnover and make the cheapest hardware fastest which leads them to immediately use it for mining advantages. But yes the West has lost of its great past in skilled manufacturingSaw this posted, seemed a very well balanced discussion on progression of the bitcoin difficulty vs miners etc https://www.youtube.com/watch?v=ieP8kxaklUk. Who knows bitcoin itself may have originated out of an Asian mind ... not that it matters. You need to learn macroeconomics. Pegging the Yuan to the dollar, they were able to steal from their citizen's savings to subsidize a negative profit manufacturing industry. Read China expert Michael Pettis. China bit off the dying Industrial Age. However there are network effects that come from this, such as moving up to developing software, etc.. But their manufacturing domination and oversupply (making the rest of the world uncompetitive by artificially depressing the international value of their own wages via the peg) was due to corruption and will cause China to have a meltdown until 2020, when they have finished rebalancing. I agree with not whining. Compete. Hard to compete in manufacturing when China was gobbling up debt by repressing savings deposit interest rates and otherwise subsidizing their oversupply in manufacturing capacity. The reason Singapore exists is to hide profits offshore for these well connected fatcats who own the State SOCs (state owned enterprises). |
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You need to learn macroeconomics. thanks for your opinions ... if they were rare ( or even correct) they might be worth something, indeed you are prolific. You're welcome to try to refute Michael Pettis (PhD professor in China) who has been consistently correct in his predictions on China while being the skeptic that everyone thought should be ignored. Now he is respected because he was correct all along. Read his blog so you won't be so ignorant...or remain blissfully Dunning-Kruger as it is your prerogative. Try not to be such a tosser ... as from past experience a debate with you is worthless, to both sides concerned, good luck. Michael Pettis is knowledgeable on bitcoin mining? There is no debate, Chinese miners are killing it, that's all you need to know ... nothing in chinese macro-economics is going to change bitcoin mining in the foreseeable future, you're just out-to-lunch crazytalking again, seeking out conflict? Yeah don't bother your wasting his precious time anyway while he "codes" the bitcoin killer... lol Hey you two butthurt trolls, I was addressing the bolded statements as quoted below. I was obviously not refuting anything about China's control over mining. Duh. (that is obvious below even if you hadn't seen the numerous times I have mentioned that China is taking over Bitcoin mining) Smells like a lot of hurt white Western butt in here because they couldn't build computer hardware better, faster, cheaper than the chinese. Western white males measure themselves on technological success and they are getting pasted on the bitcoin hardware stakes so far ... time to up their game if they want to stay competitive. Harden up dudes.
Is this technology or more manufacturing brute force. China is leading as they can turnover and make the cheapest hardware fastest which leads them to immediately use it for mining advantages. But yes the West has lost of its great past in skilled manufacturingSaw this posted, seemed a very well balanced discussion on progression of the bitcoin difficulty vs miners etc https://www.youtube.com/watch?v=ieP8kxaklUk. Who knows bitcoin itself may have originated out of an Asian mind ... not that it matters. You need to learn macroeconomics. Pegging the Yuan to the dollar, they were able to steal from their citizen's savings to subsidize a negative profit manufacturing industry. Read China expert Michael Pettis. China bit off the dying Industrial Age. However there are network effects that come from this, such as moving up to developing software, etc.. But their manufacturing domination and oversupply (making the rest of the world uncompetitive by artificially depressing the international value of their own wages via the peg) was due to corruption and will cause China to have a meltdown until 2020, when they have finished rebalancing. I agree with not whining. Compete. Hard to compete in manufacturing when China was gobbling up debt by repressing savings deposit interest rates and otherwise subsidizing their oversupply in manufacturing capacity. The reason Singapore exists is to hide profits offshore for these well connected fatcats who own the State SOCs (state owned enterprises). |
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Even without Dash's instamine and later emission cut, Masternodes are trusted third parties and thus a security no-no.
Well summarized. |
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Smart, but a paranoid sociopath would have been my choice.
... Someone has accused me of being Anonymint 3 times, Fontas twice, and Come from Beyond once.
I thought the same by the way. But Anonymint is too much the paranoid sociopath, so although intelligence is on the same high level, I concluded you are not the same person. Please put your comments in the " Shelᖚy (TPTB_need_war) Psychoanalysis. Smartest Man in the Altcoin Discussions?" thread. Any slander you want to post is acceptable there. I'm reporting your post to the moderator. You don't even factually substantiate your vicious ad hominem attack. I was not aware of the existence of such thread, but I now posted my comment there as well. Unlike yourself I am not comfortable writing walls of text and prefer to say things in a few sentences rather than in a few pages. I would leave it to others to decide whether my statement is accurate or not. I never knew that writing a lot is a symptom of sociopathy. |
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