2.3 trillion dollar went to the organisation who run the world. They can do whatever they want with that kind of money.
Bitcoin is nothing comparing to it.
Today. If tomorrow seven billion decide that the use of bitcoin over fiat is in their best interest, it shall come to pass. The immovable object is demolished by the unstoppable force. I get that you're speaking metaphorically. But it's important to at least recognize the reality... the system would be completely choked if even a medium sized city adopted bitcoin over fiat. I hear we may double or quadruple things next year tho. Getting 7 billion acquainted with lightning payment channels settling with the blockchain will also take some time and magic. |
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we all know their dirty secret is to ban cash and digitalize your influx so they can track tax you better.
Of course but now we have Bitcoin  So... as long as your salary is paid in bitcoin, and all the things you buy are paid directly with bitcoin (without any identifying information collected in the process), we are FREE from taxation! Oh, but wait, we are only replacing central banking, not commercial banking.  I guess it's back to sitting on our private keys and talking shit about anybody who wants to actually do anything with this invention. At least we're still guaranteed to get filthy rich, very soon™.  its pretty simple yes:  Unloading our bags on literally children... the killer app! |
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Always nice when chian wakes up frisky on monday morning.
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there was like 1billion dollars unaccounted for that the pentagon spend and it wasn't ever recorded...
You dropped a few zeros there adam. |
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we all know their dirty secret is to ban cash and digitalize your influx so they can track tax you better.
Of course but now we have Bitcoin So... as long as your salary is paid in bitcoin, and all the things you buy are paid directly with bitcoin (without any identifying information collected in the process), we are FREE from taxation! Oh, but wait, we are only replacing central banking, not commercial banking. I guess it's back to sitting on our private keys and talking shit about anybody who wants to actually do anything with this invention. At least we're still guaranteed to get filthy rich, very soon™. |
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To be technical, all 4 are the work of apes.  |
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We need to strongly stress this 3tps fee market when block subsidy is going to be a minimum of 12.5 btc per block for the next 4 years. Socioeconomic "majority", i.e. not you, says so. #1MB4EVA. #gavinREKT #digitalGOLD #tuckawaydemwallets
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Mah censhoreship-free, anonymous, digital gold, store of value:  Hear me roar! |
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I think a fee market that is relative to demand for blockspace is perfectly reasonable... but not today. We're too small to sustain the demand in the face of countless competitors. Bitcoin doesn't have the benefit of the periodic table, if we don't capture share while miners are subsidized and incentivized to secure and process transactions... it becomes like rpietila's castle game, with you and a few thousand others trading pogs back and forth.
Again you seem to confuse what it is you'd like to or perceive Bitcoin should compete with and what Bitcoin's unique value and properties are. If we can't agree on this I guess we can never agree on the rest but my opinion is we want Bitcoin to compete with gold, offshore saving accounts, safe havens of all sort , therein lies the value (and the "moon" valuations), not competing with VISA/Mastercard or Square. I didn't reply with a hope to change your mind. But I do hope we can build a bridge from the middle of the river  I'm just thinking you are hoping to sell 1. the wrong people onto Bitcoin using 2. the wrong "features" of Bitcoin. This necessarily creates a steep obstacle to the "adoption" you are wishing for. To be quite honest I have been guilty of this in the past and have long maintained this delusion that Bitcoin was somehow this fantastic payment network that would replace credit cards, etc etc. Until I finally came to sense and understood what the true value of it was. Note that you shouldn't forego your dreams of moon because of this. The markets I am suggesting we target are enormously more valuable than replacing simple payment processors! 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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4MB max in 2016, doubling at the halvings. (2MB would/could/should have been the limit at the drop to 25btc block rewards.) Growth in the max could be halted or slowed by soft fork if alternative scaling solutions present themselves and are proven to be both functional and desired by the market. Max Blocksize Block Reward Year(~) Native TPS(~)
1MB 50 2009 3
2MB 25 2013 6
4MB 12.5 2016 12
8MB 6.25 2019 24
16MB 3.125 2022 48
32MB 1.5625 2026 96
64MB 0.78125 2029 192
128MB 0.390625 2033 384
256MB 0.1953125 2037 768
512MB 0.09765625 2041 1536 There's something nice about the available space in a block for fee paying txs doubling at the same time the reward is cut. If only satoshi would have spared us the drama. Doublings fight halvenings... forever. |
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ya.. so 350 in the next 26 hours  When volume is weak like this... why bid things up? What's the rush? We were comfortable at $220 not that long ago, $320 is a hard pill to swallow without substantial changes in the atmosphere. We need resolution from the 200k gox dagger above our heads... then comes max_block_size increases and the halvening, everybody's just buying/selling discount or premium tickets to that, at the moment. Edit: "Fine, bid things up then." |
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Miners have full discretion of whether to include a no fee transaction, or not. Forcing a fee market from "on high" is central planning, which can often have the desired effect, in addition to several other (unintended??) side effects.
What's the alternative to central planning when it comes to developing the software? I've not heard one, and I am certain no credible alternative has been proposed (or could logically exist). Remember also that the dev team isn't set in stone: it's self organising. Gavin Andresen voluntarily ceded control of the github repo commit keys to Wladimir van der Laan, and there's no good reason why something like that shouldn't happen again: Wladimir moves onto other things, so he hands the keys over to someone he finds trustworthy. I fail to see any other possible way of doing any of this, although I'd certainly be happy to hear it if a good alternative is suggested. I'm not expecting much, though; many, many people much sharper than me have come to a similar conclusion. Neither the Internet nor the 'Internet of Money' (Bitcoin) need central planning. Development is based on competition. Right, except that when one internet standards body tries to develop a new standard, competing teams compete by proposing their own system, not hijacking the system of another team so as to change the way that standard works. Get it?  Yes, a company hijacked the team to establish a new standard (full blocks). Lol, I seem to remember Gavin volunteering to leave, and voluntarily joining the (fraudulent/failed) Bitcoin Foundation. Any more jokes? Yeah, it's a pain that the idealism from the beginning of bitcoin seems to be lost. All developers act like politicians that have their side job at a bank or insurance company. Effectively not working for the people anymore but for the company. It weirds me out that these guys don't even admit the possibility of a conflict of interest. Or they do, but only on one side. Personally, I think the Blockstream employed contingent of core does legitimately have these concerns about relay node incentives, and for good stated reasons. Legitimate concerns don't necessitate complete stasis though. I see potential conflicts of interest on both sides. |
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lolwut?
Was that just a declarative? Yeah, Hearn ragequit out of frustration with stasis on this issue, first by trying the XT gambit, then bailing when that didn't work. Everybody wants to just shit on him now, but I've appreciated his input, in code and ideas. You don't have to agree with him to show a little respect for the time and effort he put into the project. lolwut? BFL Customer? What response do you want? I asked an honest question - "What had Mike Hearn contributed?" - The answer is clearly NOTHING to anyone who bothers to look. And yet you post this nonsense? What is my response supposed to be? You say that bitcoinj is nothing because it's not in the holy Core repository, fine. Because of this, in your mind, he has contributed nothing to Bitcoin, fine. I disagree. Of the rare occasion I've actually talked to someone in depth IRL about bitcoin... Shooting some mBTC across the android wallet, using bitcoinj, has been the main trigger of an "ah ha" moment, where they start to actually be interested (or feign interest so well as to be undetectable ). |
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lolwut?
Was that just a declarative? Yeah, Hearn ragequit out of frustration with stasis on this issue, first by trying the XT gambit, then bailing when that didn't work. Everybody wants to just shit on him now, but I've appreciated his input, in code and ideas. You don't have to agree with him to show a little respect for the time and effort he put into the project. lolwut? BFL Customer? |
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Conclusions of the Council of the EU and of the Member States meeting within the Council on Counter-Terrorism"in order to enhance the effectiveness and efficiency of the fight against money laundering and terrorist financing in conformity with Financial Action Task Force (FATF) recommendations, to strengthen controls of non-banking payment methods such as electronic/anonymous payments, money remittances, cash-carriers, virtual currencies, transfers of gold or precious metals and pre-paid cards in line with the risk they present and to curb more effectively the illicit trade in cultural goods" b) is committed to ensure a swift and effective freezing of terrorist assets throughout the Union, whether through autonomous EU decisions or in compliance with UN Security Council Resolutions. An ominous or silly statement. Why don't they just swiftly and effectively arrest all the terrorists while they're at it? |
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lolwut?
Was that just a declarative? Yeah, Hearn ragequit out of frustration with stasis on this issue, first by trying the XT gambit, then bailing when that didn't work. Everybody wants to just shit on him now, but I've appreciated his input, in code and ideas. You don't have to agree with him to show a little respect for the time and effort he put into the project. |
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Thanks.
Yeah, I was aware of bitcoinj - and that is certainly a contribution - but I was thinking more along the lines of contributions to the actual Bitcoin protocol. Although Mike has been at the center of a lot of controversy in the Bitcoin world over the last couple of years, it seems that he has actually only worked on his own projects, as far as I can see. It's hard to tell if he influenced the work of others or not, though.
You'll notice I placed a fairly low bar. And Hearn easily cleared it. Years is a long time to continue the same argument. https://bitcointalk.org/index.php?topic=157141.80 |
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The article bangs on about it breeding Bitcoin acceptance. I think I must've missed why. You still have to buy it to spend it. Why not, er, cut out Coinbase and just spend your dollars? Annoyingly, each purchase you make is also a taxable event in the US. One of the biggest impediments to wider adoption imo. Capital gains from trading are messy enough, adding 300 lunch transactions to the mix makes it even worse, especially when the merchant is still just getting USD via the visa network. If you do ALL of your buying/selling/spending via coinbase they'll produce statements for you... but that's not for everyone. |
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I don't completely agree with the tactical decisions Hearn made over the last year, and I'd be fine with slower increases than BIP101, but I'm 100% certain he did more for Bitcoin on his worst day than Nov 2013 hdbuck ever will.
If we're still (inexplicably?) stuck at 1MB popescu pogs through the majority of 2016, I'll be lacing up my shoes too.
Hear, hear! Could someone point out a few of Mr. Hearn's more notable contributions to Bitcoin? I am having trouble finding them. (serious question) Ever used schildbach's Bitcoin Wallet for android? It uses bitcoinj, which was created by Mike. |
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I don't completely agree with the tactical decisions Hearn made over the last year, and I'd be fine with slower increases than BIP101, but I'm 100% certain he did more for Bitcoin on his worst day than Nov 2013 hdbuck ever will.
If we're still (inexplicably?) stuck at 1MB popescu pogs through the majority of 2016, I'll be lacing up my shoes too.
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