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741  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency on: May 15, 2017, 10:15:37 PM
Dash is looking same attractive and strong like it was before. It's market overall is stable if we see its valuation in fiat as well. It will make huge come back and then recovering its lost position against Bitcoin will help it to double the price against dollar. This is how I see any project and no worry seeing some kind of balance in both markets. Stay tuned and ignore an unnecessary comments.

+1. People get scared too easily, when DASH was pumping everybody was happy. Then somebody bought at the top (noobs), and now cry. If you believe in this project you go long term, stash your coins and forget them for a year, DASH has a bright future.

I just point out that the number of posts here has declined tremendously in the last few weeks.  The trading volume of Dash has done likewise.

These are truly bearish signs. Considering how many other alts are surging, and having increasing focus and interest, Dash is in a significant downtrend.

Just saying, read the runes, compare and and see for yourself. Interpret as you wish.

I agree these are bearish signs, and I don't think it can all be explained by everyone moving to slack.

I'm still as bullish dash on its fundamentals as ever, and as a long term prospect but despite those things I see the market more likely grinding lower, than bouncing up to new highs. The market has to do what the market has to do, weak hands shaken out, strong hands buying back in and that sort of stuff. Dash may continue dropping further down the market cap top 10 and being forgotten about by most traders before this correction ends. However it will turn around. If Evolution lives up to its promise then Dash will be huge, patience may be rewarded in the end. 

I dont know the future obviously just sharing some of my current sentiments.
742  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency on: May 09, 2017, 11:40:30 PM
Block 666666 soon approaches

whats the meaning??


and whats up with icebreaker and few others above??

icebreaker is a bitcoin core troll. For a long time he put Dash against Monero, lately he's trying to pitch  Dash against Litecoin. In reality he knows the real competition is Dash versus bitcoin Fiat.
FTFY..  Wink

 Can't argue with that Grin
743  Economy / Speculation / Re: When the all time high gets smashed on: May 09, 2017, 08:52:58 PM
When the all time high get smashed i keep waiting for new records and wait until another one breaks one after another.according to me breaking records is quite interesting and would love to see it every time it breaks.

In the past few weeks, almost daily recored was set. I think it will last for some time.

Maybe it will last for some time, compared to other big bitcoin bull runs in the past this one seems more gradual, although it looks like a correction is in progress just now
744  Economy / Speculation / Re: When the all time high gets smashed on: May 09, 2017, 12:56:25 PM
Bitcoin is smashing its way to new all time highs!  Shocked

(And many here will be happy to also note a bloodbath in the alts today)

Heres a 1 hour log chart, in which I can see break out above the channel I've followed for ages.



Although there was resistance, it was not as much as I expected. Does this mean bitcoin is going to go rampaging finally to its next huge bubble, making the old all time high look like a little bump?  

On longer timescale it doesn't yet look like a confirmed breakout..



The top of this channel has had a couple of brief spikes above it before. This is exciting for definite, but with unresolved decisions about scaling I'm not sure yet. Still bitcoin is already surprising me so far and who know how far it can continue now?
745  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency on: May 09, 2017, 07:30:49 AM
Block 666666 soon approaches

whats the meaning??


and whats up with icebreaker and few others above??

icebreaker is a bitcoin core troll. For a long time he put Dash against Monero, lately he's trying to pitch  Dash against Litecoin. In reality he knows the real competition is Dash versus bitcoin.
746  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency on: May 08, 2017, 10:19:18 AM
You're repeating yourself a bit iCEBREAKER. I'm sure I read and responded to this exact same comment only a couple of pages back. But I can tell you are aching for a detailed response so here you go.

I removed your large font size and bold font, as it was a bit loud

let's consider the fundamentals which differentiate Litecoin from Dash.


Litecoin is much older and has a more powerful/secure ASIC PoW network than Dash.

Litecoin is older than every coin except bitcoin that doesn't make it better. It does have a strong network, so does Dash. Monero on the other hand doesn't even have 1000 nodes.

LTC isn't the oldest altcoin (LOL, you are such a clueless noob).  But being ancient compared to Dash does mean LTC enjoys more of the Lindy effect (https://en.wikipedia.org/wiki/Lindy_effect).  The Dash network is not "strong" compared to LTC because the high 1000 DASH CONOP destroys its decentralization and LTC ASICs burn far more power than Dash's puny energy consumption.

AF- Insults are not a great way of making your point you know. Where are the oldest ones these days then? on the scrap heap? Tell me which older coins than litecoin I should be paying attention to? Presumably they all have an awesome lindy effect.

Litecoin keeps up to date with hot new features like SEGWIT, while Dash can't even keep up with RBF/CPFP and breaks simple yet crucial things like IPv6 compatibility.

SEGWIT is very controversial, and in bitcoin seems a long way off being accepted. Litecoin is using this hype as fuel for a pump. IPv6 is irrelevant at this time. Other than you I haven't seen anyone else mention it.

SEGWIT has been tested for over a year and for many very good reasons enjoys support from the majority of exchanges and hardware+software wallets.
SEGWIT was "very controversial" only because you halfwit DashHoles and Gavinistas were being bamboozled by Roger Ver and Jihan Wu, because they wanted to keep secret their covert ASICboost cheating and AntBleed backdoor.  You should feel like an idiot for buying into their manufactured r/btc controversy.  Grin


AF- Insults are not a great way of making your point you know, its almost as if you feel you need to include them because you know your argument is flimsy. I can accept segwit is a great innovation, this doesn't mean it isn't controversial or it would already be active wouldn't it? The segwit bundle also deliberately enables offchain scaling which is not part of segwit per se. In any case bitcoin probably does need a scaling solution however Litecoin doesn't. Litecoin is hanging onto bitcoins coat tails because thats all its ever done. Litecoin isn't maxed out to capacity. If Dash needs it at some point in can be included in Dash due to compatibility with bitcoin.  

Litecoin is going to have working payment channels like Lightning soon, thanks to SEGWIT.  That means InstantX, Masternodes, and Evolution are obsolete digital trash.

Lightning Network would be even more controversial than segwit. It will harm mining. And with huge volumes of transactions being handled off chain by Lignting Network will make the whole point of the blockchain diminish. The big money elites will be delighted to be a step closer to achieving elimination of cash replaced by electronic money in their control via lightning networks.  

Lightning Network is only "controversial" because of manufactured FUD driven by Roger Ver and Jihan Wu.  It's not our fault so many people are too stupid to understand that LN TX are not off-chain and best conceptualized as Layer 1.5.  Dash doesn't really have a Lightning-killer; despite your wishful thinking all of Dash's supposed scaling features are still vaporware without even a peer-reviewed whitepaper to back them up.
Lightning Network is going to be tested in production on LTC, etc. before its BTC deployment, not to mention LN is only one among many schemata for implementing trustless bidirectional payment channels.  Meanwhile, Dash can't even keep InstantX working on mobile and IPv6!  Cheesy


AF- Give me a break, layer 1.5 do you know what a layer is? Feel free to explain, include a schematic too. It seems to be a colourful way of pretending Lightning transactions aren't off chain. The lightning network will most likely look like big hubs (like banks) with spokes (ordinary users). There are risks that huge volumes of offchain transactions will occur through big hubs. Why do you think miners aren't keen? It is natural for some to be uneasy with this. If all goes to plan, in maybe a years time LN will be ready to be used, as my optimistic estimate. At the moment it is still in development. When it is released, if segwit gets accepted, bitcoin will have instant transactions. A bit like Dash already has.

Litecoin's creator has DNA from MIT & Google, while Dash's has a sketchy background in finance and a 2 year mail-order degree in web marketing from University of Phoenix.

Roll Eyes So what? Steve Jobs and Bill Gates dropped out of college. I could almost say that a degree is a hindrance. Certainly it encourages parrot like repetition of 'the mainstream' rather than original thinking.

Jobs and Gates dropped out of Reed and Harvard, not the U. of Phoenix.  In no universe are coblee's MIT CS degrees a "hindrance."
Spare the rest of us your sour grapes kvetching and deflection due to Duffield and yourself not being anywhere near qualified for admission to Reed, much less Harvard or MIT.
I understand Duffield's and your own education were limited to "parrot like repetition" but please rest assured academia's many STEM departments are absolutely teeming with original thinking and mind-boggling innovations.  Wink


AF-  Who cares where he studied? This argument has little relevance to anything. The point is what Evan has achieved and already done. The innovation in Dash is in a different league from litecoin who only copy and paste bitcoin core code.


Litecoin's cobblee does not shill for and pump LTC; Dash's Duffield frequently advertises his project as a legitimate investment without disclosing the risks involved.

Evan is invested in the project. And wants it to succeed. Thanks to the instamine he was able to focus on it full time.

That doesn't justify Even posting trading advice like "don't short Dash today" then quickly deleting it when advised of the statement's incriminating nature.  Evan is ethically and legally required to disclose the exorbitant and overwhelming risks involved with Dash investing, yet he does not.  Shame on him!
Coblee obviously also wants LTC to succeed and has already enjoyed great success without needing to resort to Dash's gimmicks like a very controversial massive Instamine, shilling the coin to noob housewives and other unsophisticated retail investors, and setting up a HYIP PonziNode scheme.


AF- But he quickly deleted it so whats the problem? Even if he left is, so what? Bringing that into the debate is a bit desperate. And yes Dash is aiming for mainstream adoption, thats one major reason I'm interested in it.



Litecoin was not 20% Instamined in the first 2 days; Dash was.  Litecoin never cut total emission to further enrich early miners; Dash did.

You can think of the instamine as a bit like an ICO. As already mentioned it enabled Evan to concentrate full time on the XCoin/Darkcoin/Dash project. Which we are all now benefiting from.

I cannot think of the instamine as like an ICO, because I know how ICOs work and have seen them work (thanks Viacoin!).
Comparing Dash's dishonest surprise Instamine with a pre-announced fair ICO only shows how completely you have swallowed the Evan's Gate Kool-Aid.
Dash does not benefit from its Instamine because it is defined by that unforgivable Original Sin and thus destined to be forever despised and reviled by the rest of the Bitcoin universe.  Coblee had no trouble launching LTC in his spare time while working at Google and Coinbase, no Instamine required, so why couldn't Evan get a real job instead of only running his scam full-time?  Lazy?  Stupid?  Greedy?  Some combination?  All three?[/b]
[/size]

AF- Maybe it was a mistake to base on litecoin and inherit those bugs that caused the instamine? Or not? Instamine has been done to death. There is no secret, it happened. However partly due to the consequences of it Dash is where it is today. A successful innovative project, unlike those coins that are older than litecoin that seem mysteriously absent from the top cryptos today.  

Litecoin does not require trusted 3rd party security holes; Dash makes SlaveNode users the playthings of Masternode Ponzi participants.

This point doesn't make sense.

The point makes sense, you just don't understand it.
Unlike Dash, Litecoin doesn't use Masternodes, which are security holes because they are trusted 3rd parties.
Fully participating in the Dash network requires 1000 coins; full participation in LTC doesn't even require one full Litecoin.
Is that better?  Does the point make sense to you now?


AF- I was meant to get that from what you wrote!  Huh Litecoin doesn't use masternodes or do anything else original. Except being the first to copy and paste segwit. The masternode system is working extremely well, look at the budget system and the marketing you are so jealous of.

Litecoin doesn't have to keep changing its name like a disgraced over-diluted pink sheet stock; Dash does.

Dash has evolved and its name has reflected that. Litecoin is still stuck as silver to bitcoin gold and will never be anything else. The segwit hype only proves that further.

"Evolved" is a PR spin word now famous because Clinton and Obama used to excuse their hypocrisy on gay wedding cakes and transgender bathrooms.
"Pivot" is the preferred term to indicate Dash's 180 degree reversal from DarkCoin-The-Privacy-Coin to DashCoin-The-Paypal-With-Moar-Blockchain-Coin.
FYI, Segwit is now a fact on Litecoin; it's locked in and going to activate Soon.  That's not just "hype" any more, it's cold hard reality.


AF- Dash still has the same privacy features ;-)

Litecoin is supported by Coinbase and Kraken; Dash is considered a scam and despised by most of the crypto community, and thus will never trade on those exchanges.

Those exchanges may well change their minds just as bitfinex did.

You are right for once!  Kraken did, given a $50,000 bribe now worth $250,000 (LOL GRATE JOB GIZE  Grin Cheesy) "change their minds."
I doubt Coinbase will though, given coblee's antipathy for the Dash scamcoin.
Regardless, the word most associated with Dash is "Instamine" and it's not going to change.  You're welcome for that.  Kiss


AF- You say bribe, I say business deal. Isn't the budget system amazing?

Litecoin prioritizes technology over marketing; Dash does the opposite.

This couldn't be more wrong. Litecoin has done anything original except tweaking the bitcoin parameters? Dash has done more innovation than any other coin. The marketing is just a happy side effect of the budget system. Which is working supremely well.

Dash is a fork of Litecoin, and yet here you are biting the hand that fed you.  Classy!
Dash's "innovation" is snake oil marketing, privacy theater, and good old fashioned Ponzi economics, not technology.  But congratulations on the budget system seemingly producing the recent pump (which will end when Evan dumps more Instamine coins).
With segwit, Lightning, and mimblewimble, LTC will be more technologically advanced than Bitcoin; meanwhile Dash is 10s of thousands of lines of code behind the latest Core release!  FAIL.  Tongue


AF- Litecoin only has these features because it copied them from bitcoin. Do litecoin developers do anything?  

Litecoin has a bus factor >>1.  Dash keeps losing devs who get wise to Evan 'The Instaminer' Scamfield's long con:

I never heard of Dash losing devs. I do notice them growing the team.

The world is not defined nor constrained by what you heard or "never heard."  Keep your incredulous appeals to ignorance to yourself and learn how to use the Search box at the top of the screen.  Oh who am I kidding, you will never do that.  So I'll spoon feed you like a little baby.

vertoe's Dash resignation letter: https://bitcointalk.org/index.php?topic=421615.msg10925445#msg10925445
TheDashGuy's resignation letter: https://www.dash.org/forum/threads/what-the-hell-is-wrong-with-this-picture-i-thought-we-were-a-decentralized-project.9229/


AF- The Dash Guy? Correct me if I'm wrong but he was never on the team? but I do remember his tantrums, maybe I even sympathised with some of his points, I don't really remember. Meanwhile maybe you missed this, https://www.dash.org/2017/05/03/TeamRestructure.html

747  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency on: May 07, 2017, 12:32:17 PM

snip


The beauty of crypto is that you are free to choose. I don't think your arguments will convince many on here that litecoin is superior to Dash, but if you want to fill your bags with litecoin, thats your affair. Its not my cup of tea.  I'm not going to add a new font colour and waste my time countering your flimsy arguments above though.

I will say, when or if bitcoin gets Segwit and LNs in mayb a years time, as an optimistic estimate. It will start catching up to what Dash already has working now. Also I remain to be convinced that LN network won't have huge centralised hubs running most of the transactions. A bit like banks
748  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2017, 11:12:49 PM

In real world use case I don't think average users will want to create a new channel for every single time they trade with someone new. It will be a hassle. They will want to just use 'the lightning network'.   Hub and spoke will arise naturally as most efficient and fast way of routing through the network.
 

So there you have: If most people use LN for their small transactions/payments more block space there is for the "important" transactions if you are willing to pay the fee. You can choose which method you use. What's bad about that?

It's not that you need to chose one way or another, you will be able to decide for each transaction you decide to make.

The bit I don't like is everyone else using 'central' hubs to put their transactions through.  


Where do you see the problem of mining centralisation when everyone can just buy their own miner?  

Because they don't have an incentive to go through all that trouble.

Yes that illustrates my point LN users wont be incentivised to go to all that trouble either.

Thanks, at least you guys are giving me some food for thought. Mainly responses have been trollish before.

It's not that users wont be incentivised to go to... Which trouble? Standard BTC transactions will be exactly the same trouble as they are now, nothing changes. But yes, users will be incentivised to use LN for several reasons:

- Lower fees
- Almost INSTANT transactions <- This is a really important point. No blocksize increase could ever reduce a minimum of 10 mins for the first confirmation.
- Real scalability: No more TPS limit. LN networks could process thousands, maybe even millions of transactions per second.

The future usage I envision for myself is something like this:

- For moving my BTC in non trivial ammounts -> BTC Blockchain
- For buying "coffee" or who knows what other smallish stuff -> LN
- For things between those two use cases -> LN or BTC Blockchain depending on the circumstances.

I am not saying that a Block size increase won't be needed in the future. In fact I am sure it will. But what we need first is Segwit. After that, and if it is possible to achieve an enormous consense (95%) for a hardfork to increase the blocksize, then I am ok with that too... a fixed blocksize increase, not a joke like BU.


Best argument yet. And thanks for commenting it.

This draws obvious comparison with Dash which already has a lot of that working.


* Stands back waiting for inevitable scam comments

749  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2017, 08:48:55 PM

In real world use case I don't think average users will want to create a new channel for every single time they trade with someone new. It will be a hassle. They will want to just use 'the lightning network'.   Hub and spoke will arise naturally as most efficient and fast way of routing through the network.
 

So there you have: If most people use LN for their small transactions/payments more block space there is for the "important" transactions if you are willing to pay the fee. You can choose which method you use. What's bad about that?

It's not that you need to chose one way or another, you will be able to decide for each transaction you decide to make.

The bit I don't like is everyone else using 'central' hubs to put their transactions through. 


Where do you see the problem of mining centralisation when everyone can just buy their own miner? 

Because they don't have an incentive to go through all that trouble.

Yes that illustrates my point LN users wont be incentivised to go to all that trouble either.

Thanks, at least you guys are giving me some food for thought. Mainly responses have been trollish before.
750  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2017, 08:18:05 PM


Altcoin manipulators be like


^BTC @$2017.._^_*(((/\DGB(digibytes)@125satoshis==pump&dump coin of the day :-D

https://poloniex.com/exchange#BTC_DGB


woof! Wink

Man...
This market is just like Muhh this pattern is bullish : ok lets pump it and f*ck what we pump, we are just gonna do it because its possible.
Crypto troll altcoin gambling continues lol


I think it is just the fact that a lot of new money is pouring into crypto, because the mess the world is in, capital controls, zero/negative interest rates, gold and silver suppressed.  In previous bubbles, historically the new money always benefited bitcoin most because it had 90% slice of the pie. Now it only has 60 something % because its getting slow and fees are getting high. This is the hard line. Money that wants a piece of crypto sees other good places to speculate where that is still lots of room to  grow.

You can wish for bitcoin to be back to the only recipient of investment money all you want but that won't change the reality.
751  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2017, 08:06:05 PM
Quoted from Slack Chat with Craig Wright

https://pastebin.com/zU6YZWXK
 
"Layer 2 networks will require the introduction of AML and intermediary controls. These are localised networks in the form of existing intermediaries.
 
They can be allowed to operate with Bitcoin competitively, but not at the expense of open exchange. This being what they fear, why use L2 if you have no need?

Those who do not think that government can set in and control this are either naive or malicious. There is no other view. This is not a false dichotomy. These are the only options.
 
In all cases, L2 will require systems that can be controlled and they will require the interaction of merchants and other parties. Networks such as lightning centralise and offer control on a platter."

Entirely false information. Your mistake was believing a word that clown says.

Please elaborate why its entirely false? In any case to hell with the Craig Wright link. That wasn't my point. My point is my own formed before I read any of Craigs own opinions.

Why is LN not going to centralise transactions? What is the protection against this? i assume we all want the common goal of bitcoin remaining decentralised. Links please. I need enlightenment so I can join the Wall Observer flock of sheeples


I really dont take a Dash supporter too serious tho. First they pump it, then its stagnates. Then it dissapears. Its good that Btc takes its time to figure things out properly, but the dark side of decentralisation is that innovation takes so damn long. Same with democracy, its the best solution but it takes ages to decide and implementate. Btc is like old greece. Just philosophy while other lower skilled bad equiped no-knowledge countries are closing in. Its really discusting to see so much bad alts growing while they will dissapear. Dash with this maketcap is just a joke a IMO.

Thank you for those words of wisdom. Almost as enlightening as your mickey mouse video. Yes I like Dash which is completely irrelevant to this discussion. I like bitcoin too, I'm invested in bitcoin. I care about bitcoin, which is why I'm here worrying and fretting that LN is a bad idea. 

This is from the lighting network paper itself. Near infinite amount of transactions. Off chain. Things that make you go hmm

"If we presume a large network of channels on the Bitcoin blockchain,
and all Bitcoin users are participating on this graph by having at least one
channel open on the Bitcoin blockchain, it is possible to create a near-infinite
amount of transactions inside this network.  The only transactions that are
broadcasted on the Bitcoin blockchain prematurely are with uncooperative
channel counterparties."

Can you please explain me with your own words what LN is and does?


How did this get from me asking for links so I could read up about it to me having to explain it in my words?  Grin  Huh
Earlier today more than once I admitted needing more info, and asking for links, (still non provided).

So far I got this. Using LN, bitcoin users can create payment channels to other users, they can pay each other back and forth without any need for commiting to the blockchain. Unless both parties want to close the channel it stays open. A node could have lots of open channels to lots of other nodes. Payments can also be routed through other channels to reach a user who isn't directly connected via their own channel. Thereby a network will be formed. The likely shape of the way the network will evolve will be a hub and spokes model. With certain nodes acting like hubs this becomes a potential centralisation point. These hubs will know a lot of information about all the transactions passing through them.  I'm still sketchy on the fees but I assume these hubs will also be incentivised by fees.  I envisage hubs could act a bit like banks people create a channel with the bank (I mean hub) in order to get fast routing through LN avoiding slow normal bitcoin. These accounts (I mean channels) will stay open. Dumb masses think they are using bitcoin but they aren't (almost all the time).


Where do you see the problem of centralisation when anyone can just create their own private channel?



In real world use case I don't think average users will want to create a new channel for every single time they trade with someone new. It will be a hassle. They will want to just use 'the lightning network'.   Hub and spoke will arise naturally as most efficient and fast way of routing through the network.

 
752  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2017, 06:53:40 PM
Quoted from Slack Chat with Craig Wright

https://pastebin.com/zU6YZWXK
 
"Layer 2 networks will require the introduction of AML and intermediary controls. These are localised networks in the form of existing intermediaries.
 
They can be allowed to operate with Bitcoin competitively, but not at the expense of open exchange. This being what they fear, why use L2 if you have no need?

Those who do not think that government can set in and control this are either naive or malicious. There is no other view. This is not a false dichotomy. These are the only options.
 
In all cases, L2 will require systems that can be controlled and they will require the interaction of merchants and other parties. Networks such as lightning centralise and offer control on a platter."

Entirely false information. Your mistake was believing a word that clown says.

Please elaborate why its entirely false? In any case to hell with the Craig Wright link. That wasn't my point. My point is my own formed before I read any of Craigs own opinions.

Why is LN not going to centralise transactions? What is the protection against this? i assume we all want the common goal of bitcoin remaining decentralised. Links please. I need enlightenment so I can join the Wall Observer flock of sheeples


I really dont take a Dash supporter too serious tho. First they pump it, then its stagnates. Then it dissapears. Its good that Btc takes its time to figure things out properly, but the dark side of decentralisation is that innovation takes so damn long. Same with democracy, its the best solution but it takes ages to decide and implementate. Btc is like old greece. Just philosophy while other lower skilled bad equiped no-knowledge countries are closing in. Its really discusting to see so much bad alts growing while they will dissapear. Dash with this maketcap is just a joke a IMO.

Thank you for those words of wisdom. Almost as enlightening as your mickey mouse video. Yes I like Dash which is completely irrelevant to this discussion. I like bitcoin too, I'm invested in bitcoin. I care about bitcoin, which is why I'm here worrying and fretting that LN is a bad idea. 

This is from the lighting network paper itself. Near infinite amount of transactions. Off chain. Things that make you go hmm

"If we presume a large network of channels on the Bitcoin blockchain,
and all Bitcoin users are participating on this graph by having at least one
channel open on the Bitcoin blockchain, it is possible to create a near-infinite
amount of transactions inside this network.  The only transactions that are
broadcasted on the Bitcoin blockchain prematurely are with uncooperative
channel counterparties."

Can you please explain me with your own words what LN is and does?


How did this get from me asking for links so I could read up about it to me having to explain it in my words?  Grin  Huh
Earlier today more than once I admitted needing more info, and asking for links, (still non provided).

So far I got this. Using LN, bitcoin users can create payment channels to other users, they can pay each other back and forth without any need for commiting to the blockchain. Unless both parties want to close the channel it stays open. A node could have lots of open channels to lots of other nodes. Payments can also be routed through other channels to reach a user who isn't directly connected via their own channel. Thereby a network will be formed. The likely shape of the way the network will evolve will be a hub and spokes model. With certain nodes acting like hubs this becomes a potential centralisation point. These hubs will know a lot of information about all the transactions passing through them.  I'm still sketchy on the fees but I assume these hubs will also be incentivised by fees.  I envisage hubs could act a bit like banks people create a channel with the bank (I mean hub) in order to get fast routing through LN avoiding slow normal bitcoin. These accounts (I mean channels) will stay open. Dumb masses think they are using bitcoin but they aren't (almost all the time).
753  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2017, 05:46:14 PM
Quoted from Slack Chat with Craig Wright

https://pastebin.com/zU6YZWXK
 
"Layer 2 networks will require the introduction of AML and intermediary controls. These are localised networks in the form of existing intermediaries.
 
They can be allowed to operate with Bitcoin competitively, but not at the expense of open exchange. This being what they fear, why use L2 if you have no need?

Those who do not think that government can set in and control this are either naive or malicious. There is no other view. This is not a false dichotomy. These are the only options.
 
In all cases, L2 will require systems that can be controlled and they will require the interaction of merchants and other parties. Networks such as lightning centralise and offer control on a platter."

Entirely false information. Your mistake was believing a word that clown says.

Please elaborate why its entirely false? In any case to hell with the Craig Wright link. That wasn't my point. My point is my own formed before I read any of Craigs own opinions.

Why is LN not going to centralise transactions? What is the protection against this? i assume we all want the common goal of bitcoin remaining decentralised. Links please. I need enlightenment so I can join the Wall Observer flock of sheeples


I really dont take a Dash supporter too serious tho. First they pump it, then its stagnates. Then it dissapears. Its good that Btc takes its time to figure things out properly, but the dark side of decentralisation is that innovation takes so damn long. Same with democracy, its the best solution but it takes ages to decide and implementate. Btc is like old greece. Just philosophy while other lower skilled bad equiped no-knowledge countries are closing in. Its really discusting to see so much bad alts growing while they will dissapear. Dash with this maketcap is just a joke a IMO.

Thank you for those words of wisdom. Almost as enlightening as your mickey mouse video. Yes I like Dash which is completely irrelevant to this discussion. I like bitcoin too, I'm invested in bitcoin. I care about bitcoin, which is why I'm here worrying and fretting that LN is a bad idea.  

This is from the lighting network paper itself. Near infinite amount of transactions. Off chain. Things that make you go hmm

"If we presume a large network of channels on the Bitcoin blockchain,
and all Bitcoin users are participating on this graph by having at least one
channel open on the Bitcoin blockchain, it is possible to create a near-infinite
amount of transactions inside this network.  The only transactions that are
broadcasted on the Bitcoin blockchain prematurely are with uncooperative
channel counterparties."
754  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2017, 05:08:57 PM
Quoted from Slack Chat with Craig Wright

https://pastebin.com/zU6YZWXK
 
"Layer 2 networks will require the introduction of AML and intermediary controls. These are localised networks in the form of existing intermediaries.
 
They can be allowed to operate with Bitcoin competitively, but not at the expense of open exchange. This being what they fear, why use L2 if you have no need?

Those who do not think that government can set in and control this are either naive or malicious. There is no other view. This is not a false dichotomy. These are the only options.
 
In all cases, L2 will require systems that can be controlled and they will require the interaction of merchants and other parties. Networks such as lightning centralise and offer control on a platter."

Entirely false information. Your mistake was believing a word that clown says.

Please elaborate why its entirely false? In any case to hell with the Craig Wright link. That wasn't my point. My point is my own formed before I read any of Craigs own opinions.

Why is LN not going to centralise transactions? What is the protection against this? i assume we all want the common goal of bitcoin remaining decentralised. Links please. I need enlightenment so I can join the Wall Observer flock of sheeples

755  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2017, 12:26:59 PM
quoting Craig Wright is the last resort for anyone who wants to make a point. I have no interest in what he has to say.

Oh it must be amazing to be the enlightened ones.

Still waiting for those links so I can also read the hallowed source material and also be enlightened
756  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2017, 12:08:36 PM
Quoted from Slack Chat with Craig Wright

https://pastebin.com/zU6YZWXK
 
"Layer 2 networks will require the introduction of AML and intermediary controls. These are localised networks in the form of existing intermediaries.
 
They can be allowed to operate with Bitcoin competitively, but not at the expense of open exchange. This being what they fear, why use L2 if you have no need?

Those who do not think that government can set in and control this are either naive or malicious. There is no other view. This is not a false dichotomy. These are the only options.
 
In all cases, L2 will require systems that can be controlled and they will require the interaction of merchants and other parties. Networks such as lightning centralise and offer control on a platter."
757  Economy / Speculation / Re: Nights Watch by Afrikoin on: May 06, 2017, 12:01:49 PM
Could you please explain what does your abc pattern correct? Both your a and you c have made significant ATHs...

Here's how a bear market really looks like https://ibb.co/fD5Rak

Maybe it should have a 'd,e,f,g' aswell  Tongue
758  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2017, 11:43:35 AM

You should go back to ELI5 threads and we should be back to discussing the price in here.


OK post links please and I'll enlighten myself. In case my understanding is incorrect.
759  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2017, 11:08:50 AM
This is bullshit. LN does not need Segwit and LN will happen regardless of whether you want it or not, or whether Segwit is adopted or not. LN needs a malleability fix, and SW is just one of the ways of doing that. LN does in no way create centralized control of Bitcoin nor does it lead to bankers "rejoicing". Looks like someone didn't even read the ELI5.

This sounds like a good way to sneak in a malleability fix. Maybe a malleability fix is not a good idea? Why can't core release modular updates instead of bundling it all together?

LN do enable centralised control of bitcoin transactions. Its just a matter of scale. Think of the size of banks and equate that to LNs
760  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 06, 2017, 10:42:49 AM
USDT is making a recovery and Coinbase and Bitfinex are at roughly equal prices since Bitfinex agreed to have Friedman LLP do a balance sheet audit.

A lot of the uncertainty is fading away.  This is looking good.  Very good.
My jedi sence tells me that the altcoin bubble will pop soon. We only need a scaling solution for the moon. What are they waiting for?

Both scaling options are crap.

BU leads to bigger blockchain which leads to blockchain too be to be decentralised, which leads to centralisation
Segwit leads to LN which leads to transactions handled off chain which leads bankers rejoicing and to centralised control of bitcoin

You might be in for a long wait for scaling solution
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