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Hory shet that finex candle.
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ech... who cares?
Bitcoin XT is winning now that Gavin Andresen is at the helm.
I'm actually curious to see if you and hdbuck will keep bitching on about this stupidity when it's all over.
Over 25% of the hashing power has explicitly said they wouldn't be doing 101, especially as XT. Both fundamentalist camps are going to have to swallow their pride and come to a compromise in the form of a more conservative increase schedule. |
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Original Bitcoin collectors are enjoying tremendous returns  Worthy of emulation, right? So, realistically, you had about 1 year of time to buy at a "loss" compared to current prices, between Nov. 2013 and Nov. 2014. Buying at any other time means you're not in the red, and, in fact, made a profit (on paper, assuming you're long)
Date Registered: February 16, 2014, 06:46:12 PM  |
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edit: speaking of Popescu.... I don't think it's either practical nor feasible nor even desirable to use Bitcoin in the day to day dabble of pizzas, phone credits, hairspray and sneakers. People try to, because of the misguided belief that Bitcoin value is somehow related to or deriving from its crossection in the retail market. This happens to be completely untrue : you can't buy any pizza with SDRs, and yet that doesn't somehow make SDRs worthless. The belief itself may be a case of "everything appears a nail to the man holding a hammer", in the sense that people who have never interracted with any other aspect of economy besides the supermarket counter may genuinely imagine that's what economy is. Still, that makes no difference. "Interraction" with the economy... like exchanging shares of blogs and gambling sites with other titans?
Peer to Peer Electronic Cash System
vs
Peer to Peer Electronic Wealth Storage System
I think we've distilled it down. I also think it can be both, but the former facilitates the latter.
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Restricted space => creates fee competition => dust will become non-economically viable to move around.
Restricted space => fee competition More adoption+fee competition => expensive fees Expensive fees => stalled adoption Stalled adoption => declining interest Declining interest => what are we even trying to do here? This, however, is not a description of how bitcoin will fail but how bigger blocks are inevitable. I suggest you go back and reread what Jorge wrote also. He describes well how the block size limit encourages attacks on Bitcoin Also, it is not on developers to be setting up fee markets. It should be the realm of, well, the market. Not all Bitcoin users are created equal. Not all individuals have the same financial pain threshold. Expensive fees might deter direct adoption of Bitcoin by less financially priviledged persons but has absolutely no impact for the faction of individuals controlling the largest portion of monetary wealth worldwide. Contrary to popular belief Bitcoin's immediate target market is NOT mainstream consumers. no it impacts the financially privileged as well, they can no longer speculate bitcoin will be currency. Nonsense. Bitcoin is not limited to its blockchain and the obvious end game for transactional uses are open payment networks like Lightning. The wealthy are mostly concerned with shielding their capital from dirty regulators hands and oversight. Bitcoin offers unparalleled value in that regard. Such a strange fantasy world you erect around yourself... Titans of industry, meeting in back alleys or smoke filled basements to buy thousands of bitcoin... (surely they wouldn't send fiat wires to regulated exchanges that will have their identity and amounts on file, along with the addresses those coins were removed to.) Always wearing the finest tailored suits, their shoes custom made... Invariably one step ahead of those dirty regulators with their capital in hand (in massive stacks of untraceable, non-sequential, unmarked bills ofc)... When is the last time you met a wealthy person that wasn't almost pleading with you to help them pile all of their wealth into experimental internet tokens? It's almost a daily occurrence now. Meanwhile, back in reality, some want Bitcoin used by more people, more of the time, for more things (even while, gasp, paying fees that are determined by the free market of transaction processors)... while staying distributed and decentralized. Your toady mr buck is beyond help. Instead of thinking, he just throws up anything popescu wrote, like it's a tourettes tick. But I'll hold out hope for you brg444. |
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1 bitcoin could worth $8 million in today's money. 1 satosh is just $0.08. So you will not be a millionaire.
You do not consider if the price will raise. Or if dollar will do weimar jig. Maybe OP will not loose, but will have his millionairs. The chance of OP being a millionaire is 0.000000000000000000001%. I would try my luck with such a chance rate. And trust your luck with such a chance rate you shall. Bitmixer.io ™ High Volume Bitcoin MIXER |
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I strongly suspect that Adam does not have any intention of implementing that plan, certainly not before the network gets saturated. I believe that he made that proposal only to pretend that he is a reasonable guy, and to steal support from BIP101.
The quality of saturation is the critical element one should be worried about. Saturation from dust, spam, worthless micro-txs, faucets, dice, "stress tests", scripts that are purposefully wasting space in the blockchain for minimal fees, etc = nobody should even bother. Saturation from legit txs should get a bump to accommodate for new capacity. If you enlarge the block size prior to being genuinely saturated, you are just opening the bloat-attack-vector, wide open. And then users will say 'ohhh, this is bullshit, this program BTC requires me to download 2 tb of data prior to using it"... or, if someone is in a country where bandwidth is expensive and they are charged for over-the-top use, after, say, 100gb/month, "aaah, I can't even sync this without going over my monthly quota". Or "shit, I have to send these money out, and I'm syncing the last 30 hours and it takes an hour to do so"... because 8mb blocks are full of cheap spam and dust. If someone says "but we can send these users to thin clients, web wallets etc", just contemplate that if this happens now, and having your own bitcoin-qt is unsustainable for a lot of people, then what will happen in 5 years or 10 years? Block size needs a glide path that co-incides with actual usage, and marginalizes spam/dust, or makes it expensive for such txs. Miners and nodes should set their own prices and dust limits. There are economic pressures compelling them to. The overarching max block size should be a circuit breaker / malicious miner protection only. A sort of training wheels. |
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1 bitcoin could worth $8 million in today's money. 1 satosh is just $0.08. So you will not be a millionaire.
You do not consider if the price will raise. Or if dollar will do weimar jig. Maybe OP will not loose, but will have his millionairs. |
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So what is the general consensus on what the outcome of the scaling conference this weekend might be?
Blockstream has conceded and it's going to 8mb blocks: "Another idea that has been gathering support is Blockstream CEO and Hashcash inventor Dr. Adam Back's “2-4-8” quick fix, which would incrementally increase to the limit to 8 megabytes in three steps over four years time." So small blockers are officially dead. Adam Back is a part of Blockstream. It is my estimation that Bitcoin needs around 10MB block size to remove the glass ceiling on price (8MB is close enough), so next stop moon: https://bitcointalk.org/index.php?topic=1271254.msg13115160#msg13115160Adam floated that 2-4-8 proposal a few months ago. Sorry, but I can't believe that it is a sincere proposal. AFAIK, that proposal has no implementation yet, not even a BIP. (There are only two proposals with implementations: Gavin's BIP101 and my BIP99½  ). I strongly suspect that Adam does not have any intention of implementing that plan, certainly not before the network gets saturated. I believe that he made that proposal only to pretend that he is a reasonable guy, and to steal support from BIP101. If the 2-4-8 plan were implemented in time, there would be no "fee market". Then all those small-blockians who are impatient to see the fee market in action would be protesting loudly. Why aren't they? Perhaps because they too sense that Adam does not really mean it? Writing the code isn't the problem. If we get well into 2016 at the status quo, I'll start to entertain your insinuations. Until then, I am assuming good faith and evaluating proposals on their merits. |
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best case sanrio
Aaaadammm, have you been drinking again?   |
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i'm thinking 400 is coming soon, very soon.
Either you are attempting to use reverse psychology, or you have bought back in.... oh that last thing about selling everything again was BS  i sold ~9 days ago, bought back 80% last night at a small loss. Are you one of those people that has a segregated "trading" stash and pretends that these %'s mean something? Or you sold all of your BTC 9 days ago? what kind of nut bag sell ALL his bitcoin on a whim? generally i don't trade with more then 10% of my total bitcoin i feel extremely nervous selling more then 30% and that can only happen if market move like 20% higher then my initial sell. tnx 4 context |
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i'm thinking 400 is coming soon, very soon.
Either you are attempting to use reverse psychology, or you have bought back in.... oh that last thing about selling everything again was BS i sold ~9 days ago, bought back 80% last night at a small loss. Are you one of those people that has a segregated "trading" stash and pretends that these %'s mean something? Or you sold all of your BTC 9 days ago? |
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But please do not try to highjack Satoshi as pro XT when we have no idea what his position would be.
I didn't get the impression that he was trying to paint satoshi as pro XT. The quotes showing satoshi as "anti 1MB4EVA" are plain for anyone to see, but pro XT?... not so much. |
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what if the past 10 days of trading painted the right shoulder of what will be a 30day head and shoulders
neck line at 333, head will top out around 420, we bottom out at ~280 in about 1-2 months
Just buy now Adam! We saw how that worked out. He needs to dump some and we can get a nice rally going. |
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Well I'm in the composite operators head! This is a mosaic work of art that takes time and skill...
If really in 'composite operator's' head, why dick around with TA? Seriously tho, if we drop the mystical shit, and just deal with my hypothetical? because it's all mathmatics...if you play within the parameters then you can throw in random chaos! When you play within...you play all sides!!!  Of course you have no idea what I'm talking about...? Nobody does. |
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Hi bears...sup? Leveraged anyone?
Disclaimer:margin calls are gonna be da fuel dat pumps dis to da moon!
Margin shorts on BFX are less than half of what they were for last month's euphoria filled run. Feels like directionless chop for a while until a whale wants to do something exciting. |
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Just a couple of buyers ... discover Bitcoin.  And shortly thereafter discover this censhoreship free network is only for high value Central Bank reserve settlement. #1MB4EVA #gavinREKT #replacebyFIST #hdBOOM #popescutoldmeSO |
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A pox on you, and your house. |
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