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381  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 08, 2016, 11:06:02 AM
There is nothing theoretically preventing the price from dropping and miners going bankrupt, inducing lower difficulty.  
Theoretically everything is possible but not always!
I think this has actually happened before for brief periods.

Anyways, looks like we are heading up again.  Go BTC  Grin
382  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 08, 2016, 10:38:57 AM
I guess you cant read so I'll repeat it for you:

cost of production forms a soft lower bound for price, an 'elastic' floor if you will.

Cost of production is related to difficulty but not directly or in a definite proportional relation since it is complicated by many other factors like cost of rig development, software development and operational labour overheads, electricity, etc. So now I've opened it up to the total complexity (that really just complicates with enlightening) this is the bit where you try to wriggle out and lead the conversation into the weeds, minutiae, thread-trashing and scatological references to obfuscate the central premise that doesn't fit your permabear, anti-bitcoin case.
I am wildly bullish, but your statements don't seem logical to me.
There is nothing theoretically preventing the price from dropping and miners going bankrupt, inducing lower difficulty.   
I am not saying that is what I expect to happen in the near future, just that it can happen.

Please try reasoning with arguments instead of resorting to aggressive end statements.
383  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 07, 2016, 01:10:34 PM
http://satoshi.nakamotoinstitute.org/posts/bitcointalk/65/
Quote
The price of any commodity tends to gravitate toward the production cost.  If the price is below cost, then production slows down.  If the price is above cost, profit can be made by generating and selling more.  At the same time, the increased production would increase the difficulty, pushing the cost of generating towards the price.

In later years, when new coin generation is a small percentage of the existing supply, market price will dictate the cost of production more than the other way around.

At the moment, generation effort is rapidly increasing, suggesting people are estimating the present value to be higher than the current cost of production.

... does that spell it out clearly enough for you?
Doesn't the fact that supply is fixed suggest that production cost follows the price?

... therein lies the magic, difficulty ratchets up cost and price ratchets up difficulty ... it's a virtuous circle from which the counterfeiters cannot escape.
Yes, but nothing ratches up price, so it is the driving factor, no?

... utility, expectation and speculation all ratchet up price at different times.
Yes, but we were discussing the relationship between price and production costs.
384  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 07, 2016, 10:22:57 AM
http://satoshi.nakamotoinstitute.org/posts/bitcointalk/65/
Quote
The price of any commodity tends to gravitate toward the production cost.  If the price is below cost, then production slows down.  If the price is above cost, profit can be made by generating and selling more.  At the same time, the increased production would increase the difficulty, pushing the cost of generating towards the price.

In later years, when new coin generation is a small percentage of the existing supply, market price will dictate the cost of production more than the other way around.

At the moment, generation effort is rapidly increasing, suggesting people are estimating the present value to be higher than the current cost of production.

... does that spell it out clearly enough for you?
Doesn't the fact that supply is fixed suggest that production cost follows the price?

... therein lies the magic, difficulty ratchets up cost and price ratchets up difficulty ... it's a virtuous circle from which the counterfeiters cannot escape.
Yes, but nothing ratches up price, so it is the driving factor, no?
385  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 07, 2016, 06:26:56 AM
http://satoshi.nakamotoinstitute.org/posts/bitcointalk/65/
Quote
The price of any commodity tends to gravitate toward the production cost.  If the price is below cost, then production slows down.  If the price is above cost, profit can be made by generating and selling more.  At the same time, the increased production would increase the difficulty, pushing the cost of generating towards the price.

In later years, when new coin generation is a small percentage of the existing supply, market price will dictate the cost of production more than the other way around.

At the moment, generation effort is rapidly increasing, suggesting people are estimating the present value to be higher than the current cost of production.

... does that spell it out clearly enough for you?
Doesn't the fact that supply is fixed suggest that production cost follows the price?
386  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 06, 2016, 04:35:14 PM
Segwit RC soon to be deployed -

https://github.com/bitcoin/bitcoin/pull/8149

Get ready for a price boost when Segwit comes out of RC unscathed and miners start accepting it bring to an end one chapter of this drama and sending bitcoin in the right direction for scaling.

Thanks for the update
387  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 04, 2016, 08:34:05 AM
Dr. Strangeprice, or how I stopped worrying about the leverage and love the rocket.
388  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 01, 2016, 05:36:21 PM
pls, everyone, do not quote trolls.
Apologies
389  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 01, 2016, 05:15:20 PM
Chooing ahead slowly but surely


What's it like, having to lie all the time? (original below)


If you look at the inclination of the people, it is clear that the train is heading upwards, but less so than in the first post.  Quite a good analogy for bitcoin I would say, heading up, but slower than the fans expect/ would like.
390  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 29, 2016, 07:36:55 PM
anyone need this too?



Busted your hand hitting a wall?

EDIT: or is it something to stop you from being on the pc?
391  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 28, 2016, 08:54:53 PM
Fuck me, I have been waiting so long for a breakout, even took a big leveraged long a while ago, but just after you close it, this stuff happens...
392  Economy / Gambling discussion / Re: Best way to turn 30 btc into 300 btc? (URGENT) on: May 25, 2016, 02:04:18 PM
Dude, if you are not trolling you need to get a grip.  Listen vuduchyld, From Above and bathrobehero. 
While there can be a fine line between investment, speculation and gambling, you are obviously just gambling with your money.  That would be ok if it was money you could miss, but you decided to gamble away other people's money.  Please stop telling yourself you are a savvy investor. In this thread you are almost asking to be scammed (" am desperate, give me tips to get unrealistic gains quickly" --> seriously dog?  Prepare for the nigerian princes to start sending you personal messages about their favorite little coin).  Stop throwing away the money of the people around you.  The most likely scenario is that you will keep trying to weasel your way out of this mess, but end up completely broke.  The chances of getting back that money are very slim, but since you are a degenerate gambler, you'll probably play those bad odds anyway.  Please don't.  Be a man and face reality before you hit the absolute rock bottom.
393  Bitcoin / Development & Technical Discussion / Re: reducing UTXO growth by having all wallets implement spend all option on: May 21, 2016, 01:36:33 AM
It doesn't apply here because leaving dust in old wallets does not provide any advantage to a user.

Sure it does. By leaving it in place you preserve any potential anonymity. By always combining all your outputs you are linking addresses that don't need to be linked.
Who says you always need to combine your outputs, I am talking about the situation where you want to cash out all of your outputs of a certain wallet anyway.  Leaving a few satoshis behind in that situation doesn't accomplish anything.
394  Bitcoin / Development & Technical Discussion / Re: reducing UTXO growth by having all wallets implement spend all option on: May 20, 2016, 04:36:21 PM
I think it would be a nice feature without even considering the UTXO growth.
It happens quite often that i'd like to empty out a wallet, and now i have to calculate how much i can send by taking the total ammount, calculating an appropriate fee and deducting the two. I think it would be handy to have such a feature in a wallet.

That being said, i do think bitcoin is about freedom. It's up to the wallet developers to either introduce such a feature or not... It's up to the user to use a certain wallet, or a different one Smiley
Exactly, I have been in this situation several times.  Of course every wallet developer is free to do as he pleases, I am just trying to raise awareness that besides being a convenient feature, it improves bitcoin hygiene.  And this has got to be the simplest feature ever to code  Smiley . Just need to provide a bit of space in the UI .  Of course making the calculation yourself isn't super hard, but a slight increase in convenience is important for user experience (and changes behavior).
395  Bitcoin / Development & Technical Discussion / Re: reducing UTXO growth by having all wallets implement spend all option on: May 20, 2016, 04:28:52 PM
My topic was addressed to people who want to make bitcoin a (slightly) more efficient system.
I am tired to post this link https://en.wikipedia.org/wiki/Tragedy_of_the_commons
Nobody wants to make bitcoin "more efficient system". Everyone looks for a profit for himself. Point. No exceptions.

I know about tragedy of the Commons. It doesn't apply here because leaving dust in old wallets does not provide any advantage to a user.  Yes people mostly act in their own self-interest, but they are capable of making agreements when it is mutually beneficial.  Last time I replied to you by the way, go waste someone else's time.
396  Bitcoin / Development & Technical Discussion / Re: reducing UTXO growth by having all wallets implement spend all option on: May 20, 2016, 09:29:09 AM
1) You should if you care about making bitcoin as lean and efficient as possible
Wrong. I shouldn't. Do not speak for anyone. I do not "earn" by hodling.
Please learn to read.

Quote
Quote
2) Why would it reduce anonymity? I am not talking about combining outputs that otherwise wouldn't be combined, I am talking about not leaving behind a few satoshis when you move out of a wallet
Why should I spend even a 0.00001% of my live thinking about a values of $0.0001?
You are missing the point. It is not about the value of the dust. It is about the size of the UTXO that these unspent outputs increase. And no, you don't need to spend time thinking about it, you are free to do as you want.  Does make me wonder why you spend time posting on this topic since you value your time so much? My topic was addressed to people who want to make bitcoin a (slightly) more efficient system.
397  Bitcoin / Development & Technical Discussion / Re: reducing UTXO growth by having all wallets implement spend all option on: May 18, 2016, 06:16:52 PM
Doing so will reduce the UTXO growth a bit by reducing accumulation of dust wallets
1) Who cares about dust?
2) This reduces anonymity
1) You should if you care about making bitcoin as lean and efficient as possible
2) Why would it reduce anonymity? I am not talking about combining outputs that otherwise wouldn't be combined, I am talking about not leaving behind a few satoshis when you move out of a wallet
398  Bitcoin / Development & Technical Discussion / reducing UTXO growth by having all wallets implement spend all option on: May 17, 2016, 07:58:54 PM
I had a brief thought about UTXO growth and decided to post it here.  If this is the millionth time this is mentioned, or irrelevant/incorrect, I will delete the topic again.

Anyways, the idea is super simple.  Some wallets have a button that automatically calculates the max amount you can send from the wallet (deduces the fee ). I think this is a very useful function that should be implemented by all wallet software (I haven't checked a lot of different software but I don't think this is universally present).  Doing so will reduce the UTXO growth a bit by reducing accumulation of dust wallets that are thrown away or never looked at again (when somebody moves to other wallets/software).  Seems like very low-hanging fruit.
399  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 13, 2016, 10:45:44 PM
I know this isn't really the place for it, but can anybody explain this DAO thing to me in simple terms?  I feel like the odds of it being a technobabble hype to obfuscate things (a lousy investment) are too high for me to put in the effort to figure it out.  But I could be wrong.  If the subject is deemed too off-topic, I ll delete this post.

https://www.reddit.com/r/ethereum/comments/4h4xbt/the_dao_eli5_thought_i_would_share/
I know this isn't really the place for it, but can anybody explain this DAO thing to me in simple terms?  I feel like the odds of it being a technobabble hype to obfuscate things (a lousy investment) are too high for me to put in the effort to figure it out.  But I could be wrong.  If the subject is deemed too off-topic, I ll delete this post.

https://bitcointalk.org/index.php?topic=428589.0;topicseen

put your question on this thread, better chance of an answer your looking for, i hope


this might help too

https://daowiki.atlassian.net/wiki/


Thanks for the replies.
400  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 13, 2016, 09:30:29 PM
I know this isn't really the place for it, but can anybody explain this DAO thing to me in simple terms?  I feel like the odds of it being a technobabble hype to obfuscate things (a lousy investment) are too high for me to put in the effort to figure it out.  But I could be wrong.  If the subject is deemed too off-topic, I ll delete this post.
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