Read the blog post:

http://www.armstrongeconomics.com/archives/34811

My gosh look at India, Brazil, and Hong Kong; huge bubbles in developing markets going to crash hard in coming years.

No need. Just google "why nuts are bad for you" (and beans and caffeine) and take care of your health.

Most people follow the herd (e.g. Bitcoin instead of Monero or better anonymous coin) and thus the hidden future regulatory pain isn't factored into their stampedes.

Thus the USA will be perceived as the least risky until end of 2017.

bigtimespaghetti, remember I warned you not to go into the London property market and said it would collapse into October 2015 (before I advised you to take the career change leap to Netherlands which appears to be working out great for you ... I see your new ebook on minting).

The London Property Market is Crashing

Note I was posting as "iamback" upthread. I am the former user AnonyMint.

Soon you'll see that nearly the entire discussion has been rendered an irrelevant pita.

I didn't read that earlier post. Have more important things to do. I never thought there was deception. Rather I have my opinion about the validity of methods which I won't elaborate further on. The market majority MUST be the greater fools. Who I am to tell them not to? I'd be wasting my breath, and stomping on the free market.

More power to you kLee. Good luck.

Note I am re-posting this with corrections.

I was intending to not post any more, but I've got to address this some where publicly. I hope some of you email this rebuttal to Armstrong and get him to address my criticism.

I do not agree with the following analysis. Armstrong's models are correct, but he is incorrect about the existence of TPTB because for example he believes in a multi-polar world where Russia, China, and the USA are not actually complicit and not just pretending to be antagonists. He ignores all the proof that I've sent him that they are indeed fake antagonists who are controlled by TPTB. The data in his models can not capture this complicity between the world's axis powers.

What FDR effectively did was make the dollar undervalued relative to gold, thus the international bankers (whom he worked for) were who held gold were revalued upwards by double relative to the minions holding dollars after the gold was confiscated from the people.  And going forward to 1971, the dollar became ever more debased so international bankers were cashing dollars for gold at the fixed exchange rate. The depository domestic banks weren't holding the gold any where, they were fractional reserve systems. The gold was held at Fort Knox and whether it is still there or not, there are IOUs owed internationally so it is effectively not ours any more. Armstrong needs to read the essays of the late Howard Katz (the One Handed Economist) who explained that Americans were eating more butter, chicken, and had a higher standard of living after 1929 and before the New Deal was instituted. 1929 was a haircut for Wallstreet not Mainstreet. It was after the New Deal started that the real hardship began which by the time of WW2 it got so bad that woman had to go work in factories and no one could eat butter. The collapse of 1929 was a collapse of finance, but the basic necessities of life became more valued and thus production increased. My grandfather on my mother's side was walking around with a basket selling potatoes after 1929. Whereas the New Deal paid people to walk on crops and destroyed the farms exacerbating the Dust Bowls. One could say that perhaps FDR was induced politically to try to do something by the Dust Bowls, but what he did effectively was socialism of stealing private wealth, misallocating into public works programs, and overvaluing the dollar thus over decades sending all the gold overseas.

This doesn't mean I think gold can be money. You can clearly see it is a tool for the government and bankers to fund socialism and expropriate from the private sector.

http://www.armstrongeconomics.com/archives/34677


P.S. This myopia is also related to why Armstrong's proposed solutions for Greece and the sovereign debt crisis in general are untenable at best, and even if they could be implemented they would be a horrible result for mainstreet over the long-term, because all his proposals involve the centralization of power. I have explained why in prior posts about them. For example, the only way Greece could survive a GrExit would be with the access to international markets, but the axis powers are complicit. As for the debt for equity swap Armstrong proposes (sovereign debt exchanged for corporate shares), I explained in the past that this requires that investors have a fungible valuation of disparate companies. The only way that proposal is workable is if it is basically transferring a basket of all public companies to a single entity that holds all the debt, i.e. the TPTB. It is just same FDR gold swindle in disguise all over again. I really think Armstrong works for TPTB. He is advocating a one-world currency reserve and world domination by TPTB. That is coming and inevitable, and our escape is the Knowledge Age and our own decentralized, scalable, anonymous cryptocurrency.

When miner's mempool exceeds block size by some backlog factor, they need to send out a message to the peers they are connected to saying "don't propagate transactions to me with smaller than X fee per kilobyte until further notice". This will mitigate the impact that spam-that-can-never-be-added-to-a-block can have on the network, but it won't entirely eliminate it, because as the mempool backlog reduces, the miner will need to back off the notice to some unknown lower fee threshold. The miner could guess but it will never be 100% accurate. So spam will get verified and rejected. But perhaps those estimates can be close enough that the losses the spammers takes in fees for transactions it sends that do get into a block will be greater than the gains it values from effective spamming (what ever those gains are  ). Appears to me the issue can be fixed.

Afaik, the reason incoming transactions are verified before it is known whether they will be in a new block, is because it is considered spam to propagate (send out again to another peer) invalid transactions that would be rejected and never appear in a block.

Last year and 2013, Armstrong was saying real estate would be a safe haven and I was telling him no property taxes would skyrocket. Again I am correct and he is wrong!

http://www.armstrongeconomics.com/archives/34662


And since 2010 I been explaining why EU would not break up and Greece will not leave. Again Armstrong will be wrong:

http://www.armstrongeconomics.com/archives/34521

Greece can't do that exit because the G20 would cut them off from the world (no trade, no money transfer in an out, remember Russia, China, EU, and USA are all complicit). And their economy would plunge into the Dark Age. And no one would migrate there as Armstrong dumbly assumes. TPTB have too much control already. The only way out is the people's (of the world) own anonymous, scalable cryptocoin.

The EU will consolidate the debts of all member nations but later once all nations fall into the same abyss. Until then Greece is locked inside.

Btw, on the cryptocoin front, I am going to have to embarrass the fuck out of the core Bitcoin devs who are also Blockstream devs (I tried being nice but they don't seem to like mutual respect and amicable sharing), because they are brow-beating tyrants who inhibit creativity and can't even see it (they are going to be shocked soon... mark my word):

https://bitcointalk.org/index.php?topic=1085436.msg11819409#msg11819409

Zarathustra, you and I would get along great, as long as I don't bring my computer. I essentially agree with you on the local community.

This egotistical shit isn't going to help you.

Without an expert on cryptographic hashes commenting here on the possible breakage, I don't think you can claim omniscience.

As I explained in private, the output of a Random Oracle is assumed to have no topological structure, i.e. just random points in any multi-dimensional space you choose. We don't have to have a preimage of the solution in order to potentially have a multi-dimensional curvepartial-order appear due to structure found in the hash function and be able to reduce the entropy. I understand that even Cryptonote has the same reliance on a Random Oracle to prevent undetected inflation. Thus I also understand that concern about hash functions may be out-of-scope of discussing or orthogonal to the innovations of this paper. My point was essentially wouldn't it be safer to use a 256-bit curve.

Recommendations are for 256-bit ECC  and hash security to be protected until 2032:

http://www.keylength.com/en/compare/

Heck after I opinioned that his original sum of two squares was lacking entropy, johoe proceeded to prove my intuition was correct.

As for the other idea I introduced about combining mixing (e.g. CN) and two curves, I was attempting to brainstorm simplifications. I asked 3 times whether it was possible to find multiple uncommitted values that could map to the same committed value, which I understood my idea hinged on. When I finally got the answer from Mixles, I dropped that idea.

Actually guys like me who toy around with simplifying ideas, in spite of not studying ECC extensively, sometimes do achieve simplifications.

So watch your ad hominem derogatory pompous mouth. Because you are going to eat the words you spout.

If you are Andrew Poelstra, I am about to make mincemeat of your whitepaper on PoS.

Narrow, unenlightened, closed-mindedness doesn't impress me. What impresses me are humble, open-minded, patient experts. Johoe appears to have this enviable quality.

Well, well, as I said you will all eat from the hand of my invention. Bye, bye mempools...

T
R
A
Pacman munching...
Q
O
I
N

I learned (listened to 15 mins so far and it is mostly boring and redundant for me):

1. There is no mining yet on the alpha.

2. Adam appears to have adopted my upthread suggestion (almost an admonishment of not emphasizing the point more in the white paper) at the 14:35 point in the audio, he emphasizes that the SPV peg should mostly be used by arbitrage players and normal folks will mostly use swaps.

You can both just not waste your time, because I will eliminate mempools from PoW consensus.

And you Sir are getting dangerously close to my design. But I did give you a strong hint when I said those who transact should be the miners. But you've got a long way to go from that observation to what I have designed. There are some clever twists still.

The capability to propagate and verify transactions to some radius of the network is not a proof that propagating larger blocks won't centralize. If you don't understand why, then you should not be commenting profusely on the block size issue.

Again I am not fighting you. Just saying.

kano, change your diet. Research the Paleo diet. Start with some Google searches:

"Why is wheat bad"

"Why are night shades bad"

"Why is corn bad"

"Why is pasteurized milk bad"

"Why are nuts bad"

Then start fermenting cabbage or some food and eating it daily, along with your Paleo diet, because good bacteria appears to be one of the keys.

Also drastically increase your exercise.

Also consider a fecal transplant.

I am only eating sweet "potato" alias camote for carbohydrates. I am eating mostly chicken soup with cabbage and small mackerel-like fish fried whole (head and tail, crunchy). I eat green leafy vegetables with every meal.

Guerrero, Mexico seems to be fighting back:

https://www.youtube.com/watch?v=8XiSnCt9fDc

Hahaha.

A potential solution to the thuggery could be assigning all non-transsexual policemengoons to more challenging jobs such as manning crosswalks near elementary schools, and other community service, Lol.



I am somehow also visualizing body armor in the mold of Mutant Ninja Turtles as standard gear for SWAT teams.



Imagine the beach police.