you only just found this out CryptStorm?
I thought it was just an in-joke when I first heard it. That lasted about a month. |
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We keep taking blows and the price is still not dropping. 900 by end of day.
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Bitcoin has no "inherent value" (or what it does have contributes trivially) and is of limited supply. Thus there is nothing which provides a downward price pressure other than sentiment. What many claim as a weakness is actually a strength (As is the case with the many things that people often criticize about Bitcoin)
*I don't believe in inherent value but am using it here as a shorthand which I hope we all understand.
Also see the south sea bubbleHaha. Appropriate. We shall see. |
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The people who are behaving this way are not going to change because you're complaining. This is the internet and you need to develop a thick skin pretty quickly because there are a-holes everywhere and there's only so much can be done. The mods could be doing a better job but that particular forum moves so quickly, it's would be a never-ending battle. Personally, I could do without the NSFW pictures anyway. Not because I find them particularly offensive, just because they're not really appropriate.
As I often say, if you think you could do better, do so. No one is stopping you.
With these things out of the way, I have to say to Nanobrain that whilst your complaints are not unfounded and looking through your posts, I see nothing too out of line, there does seem to be an aspect that you're looking to be offended. In the environment that you're in here, that's only going to have negative effects on yourself and no one else. Better to choose to let it go by.
Oh, porn and prostitution? There's worse jobs. I've heard stories of men down in ditches in sub-zero temperatures trying to seal up a pipe that's spewing raw sewage amongst others. You'll have a hard time convincing me that letting someone point a camera at you while you take your clothes off on an air-conditioned set or a beach in the tropics is a problem.
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Look, I get that argument. But, it's worth expanding passed the ostensible case. The ledger of Bitcoin *does* have inherent value. Maybe it doesn't seem to, because no one is using it that way. But, as a securities ledger or track of ownership, those *books*, if you will, have inherent value, as data record of ownership-- or, once they start getting used, they will.
True. But I think that is weakly liked to the price. Which is why I used the word "trivially". Bitcoin's price is almost pure demand. It's almost Platonic in its nature. |
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Bitstamp down once again, when there will be an exchange that cares about their long-time brand?
The exchanges that care about their long-term brand aren't touching Bitcoin (yet). Welcome to the Wild West. You know the stock market started out in coffee shops, right? (If I recall correctly) And I do (of course  ) http://en.wikipedia.org/wiki/Jonathan's_Coffee-House |
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All people calling bitcoin a tulip craze don't realize that one of the main differences between both phenomenons is that the tulip craze was not supported by a worldwide digital platform called the internet. I mean the internet seems to be causing a qualitative effect on several phenomenons once they reach a quantitative peak thanks to the ease of interaction the internet provides. Look at the Arab spring, what seemed like a regular discontent or protest that wouldn't achieve much managed to topple whole governments. In my opinion this day and age we are witnessing very nice examples on how quantitative changes lead to qualitative ones thanks to the internet. So trying to predict what will happen to bitcoin using a phenomenon which happened centuries ago without having something like the internet to support it is not very accurate IMO.
Don't overcomplicate things. Tulips are useless. Tulips are not useless, they might not be a good currency but they can be a store of value, nobody has control over your Tulips but you They are not useless. They have an "inherent value"* which will always act to stabilize the price against a price rise (hence the bubble) and it is not difficult to increase the supply. Bitcoin has no "inherent value" (or what it does have contributes trivially) and is of limited supply. Thus there is nothing which provides a downward price pressure other than sentiment. What many claim as a weakness is actually a strength (As is the case with the many things that people often criticize about Bitcoin) *I don't believe in inherent value but am using it here as a shorthand which I hope we all understand. |
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It's probably also worth pointing out that localhost being trustworthy is an assumption also.
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fucking saved  Needed fixing  |
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An exponential function is an exactly straight line on a logarithmic plot - and if the rate slows, it will go from linear to horizontal.
However, an "S-shaped" adoption curve could be a sigmoid function raised to some arbitrary power. If f(x) is a sigmoid function, then f(x)^2 will look like a sigmoid with a steeper vertical, and f(x)^100 will look like a step function (going from 0 adoption to 100% adoption in one day). So, if the power is somewhere between 1 and 2, it will look super-exponential for some period on the log plot.
(e^x)^2 = e^x * e^x = e^(x+x) which is still a straight exponential (This also applies to raising to any abitrary power) Sorry if I wasn't clear. f(x) in my example is not e^x f(x) = 1/(1+e^(-x)) If you raise this function to higher and higher powers, it will look more and more like a step function and have a super-exponential growth phase on a log-chart (in the limit, it will look like a step function on the log chart as well as the linear chart) OK. Gotcha. Though I'm not sure it's good to plot that directly on a log chart as the offsets are wrong for an adoption. Probably want the Gompertz function but I have no idea how that behaves on a log chart.  |
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Anybody know if there are any decent Charities that take Bitcoin yet for donations? Like Greenpeace or WaterAid or Medecin sans frontiere or whatever? I'd like to stick someone else's address in my sig.
The Internet Archive recently suffered from a fire. They take Bitcoins http://archive.org/donate/ |
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An exponential function is an exactly straight line on a logarithmic plot - and if the rate slows, it will go from linear to horizontal.
However, an "S-shaped" adoption curve could be a sigmoid function raised to some arbitrary power. If f(x) is a sigmoid function, then f(x)^2 will look like a sigmoid with a steeper vertical, and f(x)^100 will look like a step function (going from 0 adoption to 100% adoption in one day). So, if the power is somewhere between 1 and 2, it will look super-exponential for some period on the log plot.
(e^x)^2 = e^x * e^x = e^(x+x) which is still a straight exponential (This also applies to raising to any abitrary power) |
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Logarithmic growth can't be the long term fit. Sqrt(x) seems like it would never have the rate-of-increase-is-increasing quality, which we are currently seeing.
Isn't the sigmoid curve an exponential at the start that falls behind with growth? Nowhere is an increase in the rate of increase to be seen in a sigmoid curve. The so called "vertical" phase is exponential-turned-linear on its way to saturation, but I might be wrong. In an exponential, the increase in the rate of increase is proportional to the rate of increase. So yes, you do see that acceleration The rate of increase is defined relative to the value, which makes it constant in an exponential curve. It's like 100$ increase now feels like 10$ increase in May. To sum things up, there is nothing over-exponential in a sigmoid curve, so in a logarithmic chart you would never expect anything faster than a straight line. However, some physical effects can be over-exponential, like the factorial numbers that appeared in rpietila's model of diffusion. Do you know any others? Maybe nuclear reactions or something like that? Nope. For an exponential, df(x)/dx =f(x) So for an exponential curve in time, the rate of change is proportional the the exponential. And the rate of change of the rate of change is also proportional to the exponential (i.e. increasing with time) and so on. Oh, I see you're talking percentage change. In which case you're correct but that's not correctly called the rate of change. http://en.wikipedia.org/wiki/Exponential_functionThe derivative (rate of change) of the exponential function is the exponential function itself. More generally, a function with a rate of change proportional to the function itself (rather than equal to it) is expressible in terms of the exponential function. This function property leads to exponential growth and exponential decay. |
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The real problem with that chart is that it needs to taper to reflect adoption of capital (not users) to conform to the Sigmoid. Because, isn't price what we are discussing here!?
It's an interesting question of how price relates to adoption. Should we expect the curves to be similar? Adoption might be the more interesting (though harder) metric to understand. |
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Ripple is based on trust. it will fail.
All transactions are based on trust. Since mankind first began bartering. They're based on Trust because Fear is the backstop. All beasts are resource dependent and vulnerable - none of us are Gods. I'm agnostic about Ripple, but either I'm an imbecile or I just can't put together in my head how it actually works. It works on the theory that when that guy borrowed that tool, you actually get it back. |
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Logarithmic growth can't be the long term fit. Sqrt(x) seems like it would never have the rate-of-increase-is-increasing quality, which we are currently seeing.
Isn't the sigmoid curve an exponential at the start that falls behind with growth? Nowhere is an increase in the rate of increase to be seen in a sigmoid curve. The so called "vertical" phase is exponential-turned-linear on its way to saturation, but I might be wrong. In an exponential, the increase in the rate of increase is proportional to the rate of increase. So yes, you do see that acceleration |
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Whats all this about bitcoin not being a convenient payment method? Scan QR code, click send, whats more convenient?
I gave 0.01BTC to a friend last night. It took less than 2 minutes for him to install a wallet on his phone, me to initiate the transaction and get 1 confirmation. I suggest everyone who can do something similar |
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I've been trying to answer the question, "what would the S-curve representing a hyper-monetization event look like on a log scale?"
I'm starting to think it would retain its S shape in both the linear and logarithmic scales.
Typically the bottom of the S resembles an exponential function so on a log scale, it would be a straight line at the beginning, rounding to horizontal over time |
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As I understand it, the payment processors referred to in the video would handle smaller value transactions at a rate much faster than 7tps, which would then be added to the blockchain by the payment processor.
I am not a techy, so my understanding may be incorrect, but this is how I understood it.
Perhaps there is someone more qualified on hand who could explain how this would work.
I am also speculating that it is exactly this kind of 'bolt on' service that is part of the planned evolution of Bitcoin and why we see VC money coming in now.
Basically a fancy escrow service. Which is what banks and the credit card companies are at the moment in certain aspects. |
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