I always say that you must download bitcoin wallet to store bitcoins in private address it's the same as cold storage, guy.
No, it most certainly is not. |
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I had noticed this spamming of the blockchain,
The market is making the largest moves that it has made in years. Why do you classify transaction demand as spamming? Does it not make sense that times of great market volatility might be times that people might be genuinely desiring to move their BTC either on- or off- exchanges? |
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...Stamp ... They are Coinbase's main exchange, amiright?
No. Coinbase == GDAX edit: nevermind - I see it's already been addressed. sorry. |
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I also heard that bitcoin is up, is anyone following...   Of course. News of new life in Bitcoin hit mainstream over the holidays. Some outsiders took notice, but were unable to access fundage to buy in. Jan 1, over $1000. Those newcomers who took notice are likely becoming highly interested. Now with this great push, we may see ATH any hour. And FOMO is likely to ensue with the next wave of adopters. Couple this with the reset of China's $50,000 annual currency conversion, and all signs look good for a new hyperbolic rise. Likely followed by a crash (IMO), but to a new higher local minima. What level? Unknowable. $1000? $1500? $3000? Higher? |
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I get it. You're trying to be true to Bitcoin and lead instead of follow. That's good.
Encouraging words from one of the community's courageous leaders. Elwar, your early commitment to life lived via BTC has been an inspiration. |
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I posted elsewhere that these articles were linked: These articles drive me nuts - they are manifestly hit pieces. Yes, at $16B, Bitcoin total value pales against broad money of the globe. What these news articles lie about by omission is that the same CIA list they are using for the global broad money figures puts a $16B broad money value as slightly above half of all central-bank currencies in money supply - #95.5 out of 193 (or 194 including this Bitcoin interloper). (BTW, it is currently $16,860M - or #93.5 in rank) https://www.cia.gov/library/publications/the-world-factbook/rankorder/2215rank.htmlWhen do they flip from worried enough to spout disinfo to outright panicked? When we hit #67 in rank? Larger than 2/3 of central bank currencies? |
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Looks like the FT article is behind a paywall and they don't seem to take bitcoin.
*yawn*
To get past the FT paywall, you can google "bitcoin site:ft.com". Clinking on the returned links bypasses the paywall. Works for WSJ and others as well. |
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These articles drive me nuts - they are manifestly hit pieces. Yes, at $16B, Bitcoin total value pales against broad money of the globe. What these news articles lie about by omission is that the same CIA list they are using for the global broad money figures puts a $16B broad money value as slightly above half of all central-bank currencies in money supply - #95.5 out of 193 (or 194 including this Bitcoin interloper). (BTW, it is currently $16,860M - or #93.5 in rank) https://www.cia.gov/library/publications/the-world-factbook/rankorder/2215rank.htmlWhen do they flip from worried enough to spout disinfo to outright panicked? When we hit #67 in rank? Larger than 2/3 of central bank currencies? |
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Segwit will though also decrease the blockchain size for full nodes that are currently running bitcoin core.
Not for fully-validating nodes (which to me seems synonymous with full nodes - perhaps you have a weird definition) it does not. SegWit actually increases the storage required for a full copy of the blockchain. The hard disk drive technology is improving to increase the capacity of them but not as fast as the blockchain is growing.
Nonsense. Find me an HDD of recent manufacture that is not capacious enough to hold the blockchain. Not now in the future. If the blockchain has grown by 20GB this year and continues to increase yearly growth then larger hard drives are needed which may slow down the network due to more bandwidth required. Larger hard drives are not a problem. Today, the 'sweet spot' for HDDs, based on price, is 4TB drives costing about 0.125 BTC. 10TB HDDs are widely available. 12TB and 14TB drives will be coming online this year, and 20TB drives are in the planning stages. If segwit takes up more space then it shouldn't be used now. As that was what it was supposed to do, decrease transaction sizes!
No, SegWit was not designed to decrease transaction sizes. Where did you get that idea? |
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Segwit will though also decrease the blockchain size for full nodes that are currently running bitcoin core.
Not for fully-validating nodes (which to me seems synonymous with full nodes - perhaps you have a weird definition) it does not. SegWit actually increases the storage required for a full copy of the blockchain. The hard disk drive technology is improving to increase the capacity of them but not as fast as the blockchain is growing.
Nonsense. Find me an HDD of recent manufacture that is not capacious enough to hold the blockchain. |
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The Indian government has only 600 tons, but the Indian public has....over 20,000 tons.
20,000 sounds like a ludicrous overestimation - not that I'd actually know. Where'd you get that figure? Genuinely curious. Though I personally don't have an issue with the world's 2nd most populous country acquiring sudden boost of relative wealth. Especially as the wealth is held by the people, rather than the government. |
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I just said that your link didn't seem to support it. Something like this may have been better: https://decentralize.today/segregated-witness-and-aligning-economic-incentives-with-resource-costs-7d987b135c00#.vd2s787t3Segregated witness therefore has two main effects on the fees paid by bitcoin users. Firstly, segregated witness reduces the overall cost of transactions by discounting witness data and increasing the capacity of the bitcoin blockchain. Secondly, segregated witness’ discount on witness data corrects a misalignment of incentives that may have inadvertently created more bloat in the UTXO set.
That looks better Perhaps... but it still does not say that segwit should be adopted before a simple maxblocksize bump. Let alone that doing otherwise would be a mistake. |
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Perhaps twitter gives different views to different people? There is nothing in there where Andreas "is advising people to adopt segwit before raising the blocksize because doing otherwise is a mistake". Maybe you meant to post a different link? |
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Any curve can be represented as a sum of sinusoidal curves, i.e. a Fourier series.
Not quite. Any periodic curve can be represented as a sum of sinusoidal curves. The trick is in knowing the periodicity of $=f(t). protip: that f() ain't periodic. Nope. An infinite fourier series can match any continuous differentiable function. An infinite series of a non-deterministic function is unrealizable. Unless you know the function a priori, you cannot derive a convolution thereof. If you know the function a priori, there is no need to convolve it in order to profit. The entire concept of obtaining a Fourier series of $=f(t) is therefore nonsensical. |
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even Andreas Antonopoulos is advising people to adopt segwit before raising the blocksize because doing otherwise is a mistake
Got a link to AA actually saying that? Thanks. |
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I'll just recycle my fiscal 2014 forecast - one more time  2017's high: $7669 Deepest crash after the high: $1669 Close the year somewhere in between - let's split the difference at $4500. |
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It will be interesting to see what other people think about my gold/silver/bitcoin allocation tables.
I've always thought the FOA idea of revaluing gold at $55,000 was kind of absurd since India and the Arabs have so much of it. The west would just be transferring power to 3rd world nations.
If official figures are to be believed, then the US is actually in good shape with regards to your scenario. I've been collating figures over the last several years: All monetary gold: 33000 tonnes Us has actually 8133 tonnes ECB 10788 Russia 1500* China admits to 1823 tonnes (probably around 4000 total) UK 310 tons left IMF 2800 tonnes Figures are pretty sloppy, but from rough order of magnitude, the current monetary powers seem to roughly match gold holdings. Of course, nobody has seen inside Fort Knox for decades... |
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Any curve can be represented as a sum of sinusoidal curves, i.e. a Fourier series.
Not quite. Any periodic curve can be represented as a sum of sinusoidal curves. The trick is in knowing the periodicity of $=f(t). protip: that f() ain't periodic. |
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BTC core could have ...
The Bitcoin Foundation at one time seemed to have a certain existence with wide ranging influence as well. #justsayin' |
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There is no singular 51% attack, there is 51% attack by grouping.
In regards to collusion amongst multiple parties, nationality is irrelevant. And unless you can point to a concrete instance of these parties colluding, your statement "there is 51% attack" is false. |
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