I have a fair bit of gold stacked, actually I converted all my BTC in to the yellow shiny stuff.
All of it huh? You don't even want to hedge a bit with BTC? Seems pretty risky. When I swapped out my BTC for gold it wasn't that far off a 1:1 ratio, now its over 5 BTC to an oz of gold, more than happy with my decision. You get to stare and digits on a screen, I get to play pirate with my treasure chest -    Cool looking treasure chest, but it shows how ancient the concept of Gold is. Storing things in huge, unmovable chests vs instantaneous transactions all over the world and weightless storing  Not hating on gold, always good to have some, just hope people aren't crazy enough to dump all of their BTC due the manipulated low price. |
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ETF certainly have a large impact on the markets ( and inevitable large increase in price) renewed interest in bitcoin is that I'm seeing
I still think Gemini may be bigger than expected, there's a lot of people worried with the exchanges we got until now.. then again, I don't leave my bitcoins on exchanges. I have a wallet on my phone for pocket money, and a paper cold storage wallet. As the saying goes, "if you don't have the keys, you don't own the bitcoins". |
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If there is no internet, Bitcoin is the least of your problems.
this is debatable, if you have a big stash of bitcoin, losing the access to it, indefinitely, it will be one of your biggest problem, especially if those are the only money you have He means that in a world where the internet has disappear, it probably means civilization has gone backwards a couple decades to hundred years, which means guns and food rule the world, not even Gold would be useful there. |
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OP, is guys like you that make Bitcoiners seem like whinny cultists.
He's giving ideas to terrorists in how to fund their killings. He would have faced prison if he told them to use Kickstarter. You are stretching this way too much.
But yeah prison is too much, specially for some dumb teen.
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Because you still keep using bitcoin and its snet effect it is spread around the people in the world
you don't need to accept a bunch of altcoins,just accept bitcoin
Pretty much this. Altcoins are just a hindrance, people are creating them as pump and dump in order to earn quick money almost in 100% cases. Most of them are copy paste or existing code without any changes beside name of the coin. Instead on focusing our attention on altcoins why don't we focus and upgrade bitcoin? It would beneficial for us a lot more than creating new altcoin everyday. I think going pro sidechains are also not the way to evolve... Only pure bitcoin is the way. Stop deviations. The fundamentals of the Bitcoin core doesn't need to change for sidechains to have any sort of configurations. I think sidechains have a place. A country that wants to use Bitcoin technology but under their own rules, could create their own coin through a sidechain, and still operate within the safe Bitcoin ecosystem instead of being some weak alt exposed to attacks. |
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This is definitely a blanket statement. Bitcoin awareness/usage is still low in all sections of society, millennials or otherwise. If Bitcoin becomes popular with the younger generation, then the demise of fiat will be hastened. Unfortunately, most people are and the young generation barely hears about bitcoin. Yeah, you`ll get a few kids hyped up about it. But, when I go into twitch which has more of the younger generations, most people havent heard about it at all which is sad to hear. Only the kids that are into geeky shit have heard about BTC, or the smartest ones into drugs because of silk road, the average young guy has absolutely no notions on Bitcoin or anything economical for that matter. They dont even know what fiat currency is. |
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I can't find any news myself, the most recent news are from January. I guess they don't care as much as the first Silk Road. What are they going to do? There will be infinite Silk Roads for life. The headline is shocking only once.
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Only a trivial software change is required to handle 20 MB blocks today, at least from the perspective of storage, which is what your post is discussing.
144 blocks a day, 52596 blocks a year.
At 0.020 GB per block, 1052 GB per year.
I recently bought five 3 TB hard drives for a 12 TB RAID array to store music files. The price was $90 per drive. With the absurd assumption that every block is full, this amounts to an annual expenditure of $30 to keep up with blockchain storage at the 20 MB block size.
You have to factor in bandwidth and syncing into this. Good luck syncing to a 1TB blockchain on a regular PC. I'm not sure where you got those prices from. Usually on Amazon.de it is between 50 to 60 euros for a 1TB drive. You also have to consider that this is a lot of money for quite a number of people. Obviously it is cheap for people with good jobs and people who live in 1st world country. What about the rest? China would definitely have problems if we had 20 MB blocks today. Yeah, 20MB is ridiculous and only viable in the future where 1TB is as cheap as 1GB, otherwise nodes will be limited to a small minority of people that can afford it, this weakens the overall network. |
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Im pretty excited, the good news and interesting projects and personalities keep popping up to support it, even if it doesn't translate into the price just yet. I don't care because there is always lag between this and the price when we are talking brand new tech.
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I remember an interview where Gavin explains that it takes time to implement the block size change so you have to get the process started well in advance. If you need months of lead time then you have to be more careful with calculating block size usage. This is why he wants to push forward in stead of waiting, because if we wait then it might be too late to increase the block size by the time it is needed.
still 20 seems excessive, 8-10 would be a better starting point, then just double it wehn you reach 50% saturation, it should suffice, for not come late for it it is obvious that from 0 to 1 the time was large, but from 1 to 10 expect 2-3 years to saturate it, and from 10 to 20 expect even less, if bitcoin continue to grow at exponential rate so 5 years for 20mb should be about right But the goal should be finding a way to avoid more hard forks. Can we really afford a hard fork in 2-3 years, let alone 10 to 20 years when Bitcoin will be insanely huge? We can do this now because we are on the early days. The further in the future the more of a problem it becomes. |
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Could the answer be that Gavin keeps posing questions on what is the best solution?
And then it is interpreted by everybody and their cousin that Gavin has proclaimed something.
Well, he's making a proposal, after all. The problem is people keep twisting the details, and I would like to know the truth. Well I can't do the research every time and try finding links. As time passes so does the information get buried under a lot of posts. As far as I know someone made a tweet about it; some developer confirmed it on reddit and it is also in the Bitcoin mailing list. There seems to be a lot more consensus to 4 or 8 MB blocks anyway. However you'd have to do your own research as I do not plan on going through 600 mails to find it for you. http://sourceforge.net/p/bitcoin/mailman/bitcoin-development/Wouldn't this mean that we will need another fork sooner than if we went 20?
Why would it mean that? We would need a fork if we planned to increase it to 20 after increasing it to X now. However, the plan of this is just to buy time until some other solutions get's ready such as the Lightning network or side chains. Update: After doing a bit more research I've found the information in this reddit post: https://www.reddit.com/r/Bitcoin/comments/34riua/hard_fork_allow_20mb_blocks_after_1_march_2016/It's also not consistent with the last discussions we had with Gavin over his large block advocacy, where he'd agreed that his 20mb numbers were based on a calculation error.
The point that some are making is, with LN and Sidechains on, we would still need an eventual blocksize increase... so what does it really solve? It would only mean more time between forks if anything. |
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We have heard of the opinion of many bitcoin celebrities. Would like to know what the man behind DarkWallet thinks about it. Especially because I heard DarkWallet is going to be a client written from scratch...
Does it matter if it works under 1MB or 20MB in terms of DarkWallet's anonymity effectiveness? I've tried searching for Taaki's quote on this but there is nothing it seems. |
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I don't think bitcoin is synonymous with mobile payments. Bitcoin is a currency (or asset value), but not an infrastructure to make mobile payments. The proper comparison would be the blockchain. The blockchain is what facilitates mobile payments in the bitcoin world. And to be fair to the leaders in mobile payments, they are still (as in it's possible) to include bitcoin in the currencies they allow to be exchanged using their service. The challenge is that google pay, paypal, etc. would have to engage in the blockchain themselves to facilitate payments. This is much harder than merely transacting in Euros, Dollars, or Yen.
Give it time, bitcoin will either exist as a larger player with the blockchain being the mobile payment infrastructure or major mobile payments providers will find a way to transact in bitcoin. The trigger for the latter is having a significant enough volume of bitcoin transactions for the companies to realize they can make money at it OR leave money on the table by ignoring it.
Everything will run under the blockchain which implies a higher price in Bitcoin. People will be making transactions without being aware they are even using Bitcoin. Bitcoin will be the "brains" under every electronic transaction in the future. Thats why anyone not owning some now is missing the big picture. |
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bitcoin and gold is just the same. highly volatile. a lot of pump and dump no matter how much we try to deny this.
but i think gold is a far better choice than bitcoins due to the physicality of gold. something tangible is always worth a lot more than something intangible. depends on which case we are talking about of course but still.
i feel bitcoins is getting lower day after day.
the sharks just dumped their coins making the market collapse and then buy low making it rise and they will do it again. just like they are doing it every 2weeks if someone can follow the rise and fall chart.
Gold will win the race in the future thats what I believe. It is tangible as well as traditional and we no then it is not going to diminish from the market as its inception is since thousands of years and comparatively bitcoin is only 6 years old so it is difficult to visualise whether bitcoin will exist in future or not. Gold is a deprecating asset in an increasingly electronic and worldwide world. Gold doesn't make much sense in a reality where everything important is done through internet communications. Bitcoin is the natural upgrade. |
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Bitcoin. Full stop. No need to meddle with anything else. Any other coin that makes good technology gains can be adopted by Bitcoin, which is the one and only.
I agree, Bitcoin is the Gold of cryptos, but some technology can't be implemented in Bitcoin, like Monero's ring signatures. they can but in a different way, like zerocoin, or darkweb wallet, i don't know if they will be implemented as a fork(i doubt it) or sidechain(if blockstream will succeed) or again if those two will just be indipendent new altcoin, and not related to bitcoin As far as I know Zerocoin and I think you meant Darkwallet will be integrated within Bitcoin and aren't separate altcoins, but I've heard they aren't as anonymous as Monero even tho is way better than what we have now. I remember hearing something about Zerocoin that I didn't like, which involved trust in someone destroying a masterkey that would have access to the money supply or something nasty along the lines.. |
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other than being used for payments mastercard/visa and bitcoin have nothing in common. who cares if they dont like it. its not going anywhere.
In the future Bitcoin will be a direct competitor with mastercard/visa because it can steal traffic from them. Why would you pay with a credit card when you can do it with Bitcoin at lower fees and worldwide. |
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Interesting post. Its wild how the overflow gave someone the ability to allow a value out that exceed the blockreward at the time.
It's actually pretty funny that someone owned billions of BTC at some point. I wonder if we can afford more hard forks after the next one, it seems like such a big deal every time it happens. |
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Thought this was AMAZING. Today, MasterCard released a report saying that Bitcoin has no future. Also today, MasterCard's former Chief Information Security Officer announced that he has joined a Bitcoin company. qz.com/423739/mastercard-makes-the-case-that-its-safer-and-faster-than-bitcoin/ www.coindesk.com/former-mastercard-exec-joins-bitre…/ LOL  Yeah, some people in VISA said Bitcoin is not something you would trust, and then the founder joined Xapo lol. People is taking places. The smart ones are joining the future winning team while the scared conservatives will keep playing their violins on their sinking ships. |
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Excellent material to work with, but as you mentioned, you can never predict the hivemind which can trigger massive hysteria and mainstream adoption can start in a bubble type ascension, which is why im a proponent of raising the blocksize limit quick, every day with a limited blocksize without a solution is a big risk..
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I have never meet a millennial (millenial is born in 2000+ I guess?) that is into Bitcoin, not in a forum or not in real life. I think the next generations will grow up with an already perfected and mainstream Bitcoin and it will be second nature for them.
There are no precise dates when the generation starts and ends. Researchers and commentators use birth years ranging from the early 1980s to the early 2000s. A generation starts when you can't talk about what you are into to your parents. So basically, I think people being born right now, in 2015, will be the first ones that naturally grow up in a Bitcoin ecosystem and it doesn't feel as some alien money concept. |
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