I get what they are trying to do, but I am saying that we should not discount any "alternative" thinking if it can add some kind of value. I hate the gigabyte Block size part of their solution, because that is similar to beating a dead horse, but the compression of the data got my attention, because it can be beneficial if someone could run with that idea. In the end, nothing will be added without consensus, so we should not fear alternative ideas.  So let me get this straight. They have an untenable idea - not by opinion, but on technical merit. And we should still listen to them because.... reasons? I don't understand that argument. "Give them a chance" only works when you have an idea that isn't a pile of garbage to begin with. Why are you so hostile and frustrated with my observation? I am just saying, these are a bunch of student with some strange ideas and this should not be simply disregarded as being rubbish. I have done my fair share of education and training and we appreciated every little bit of innovation that people brought to the table. We did not disregard inputs as rubbish, but rather debated why it would not work and how they could improve on the idea or suggestion. You will be amazed by the response when you support someone with a bad idea, because they are challenged to improve and before you know it, this bad idea, turns into something amazing. The "compression" of the data looked interesting, but they have to do more research on other solutions that are already out there and also the "restrictions" on Block size scaling methods. Just calm down and see the bigger picture here. People are trying to improve Bitcoin and some people are just cutting them to pieces.  |
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The Bitcoin community has already helped a lot to reduce unemployment in many countries, because a lot of new innovative companies has employed a lot of people :
~ Bitcoin exchanges
~ Bitcoin wallet providers
~ Bitcoin Casinos
~ Bitcoin Mixer services
~ Bitcoin faucets
We also see a lot of people participating in signature campaigns and bounty campaigns and they are earning micro payments for micro tasks.
Also look at the jobs that was created for many software developers for all of these Alt coins and ICO project.
this proves that in crypto there are many jobs available,it is depends on someone's willingness to wok, there is actually a lot of job that can be done but there are many people who are too picky and lazy to wok Well, not everyone has the skills and knowledge to do some of these jobs, so we should not be too quick to judge. You only need to look at the many people who apply for signature and Bounty campaigns to see how many people want to work, but are unable to do that, because of a lack of education or just something as simple as a language barrier.  The person that can think of a way to link large amounts of people with micro tasks to the Lightning network, will make millions on his or her site, because there are globally a massive shortage of work for less skilled and educated people. |
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The concept will only work if they mine some other less popular Alt coin and only until it goes mainstream, because bigger miners will switch to more popular Alt coins, if it is more profitable and widely used.  As other people said in the forum, heat and noise would be my main concern and this will also make the TV more expensive. You do not want to pay say $6000 for a TV that can mine Crypto currencies and within a couple of months that mining is worthless because of the difficulty increase. |
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I think the general rule for Paper Wallet usage is NOT to use Paper wallets more than once, because you never know if it was compromised or grabbed by some hacker. The process to create Paper Wallets is so easy, so I cannot understand why you would even want to re-use a Paper wallet after the coins was swept.  I have a old computer & printer that will never be online again. <worth about $100> and I use that to print Paper wallets for friends and for my own use. <Very easy & cheap> |
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The Bitcoin community has already helped a lot to reduce unemployment in many countries, because a lot of new innovative companies has employed a lot of people :
~ Bitcoin exchanges
~ Bitcoin wallet providers
~ Bitcoin Casinos
~ Bitcoin Mixer services
~ Bitcoin faucets
We also see a lot of people participating in signature campaigns and bounty campaigns and they are earning micro payments for micro tasks.
Also look at the jobs that was created for many software developers for all of these Alt coins and ICO project.
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People are too quick to label something as a scam. I think we must step back and be open to alternative ideas for scaling, other than the Lightning Network as the only solution for this problem. I have not seen anyone coming up with suggestions to compress the data that are going on-chain as a scaling solution, so for me this was refreshing to consider another angle to this debate. <Yes, I might have missed other people's suggestions> The greatest thing about Bitcoin is the fact that anyone can make suggestions for the improvement of the technology, just imagine for a moment if Microsoft owned Bitcoin and you wanted to write code for it as someone that was not employed by them. After all, these are a bunch of students, so let's just give them a opportunity to take a crack at solving this problem with their angle on the solution. They have it right in their paper - they are using a broadcast protocol mindset, which is like saying you can get the blocks to everyone, just as long as they have REALLY BIG BLOCKS, super fast CONFIRM TIMES, and it will be like being on a LOCAL AREA NETWORK. That doesn't scale. There is no debate about it, anyone who has done networking will tell you having a bunch of hosts in a broadcast domain is a poor choice. Did you miss the part where their system requires FUNDAMENTAL changes to the coins that participate? This is a bunch of people who haven't followed the developments over the last year or so, and if they have, they didn't learn anything from it. I get what they are trying to do, but I am saying that we should not discount any "alternative" thinking if it can add some kind of value. I hate the gigabyte Block size part of their solution, because that is similar to beating a dead horse, but the compression of the data got my attention, because it can be beneficial if someone could run with that idea. In the end, nothing will be added without consensus, so we should not fear alternative ideas. |
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It's a lot faster thanks to SegWit and SegWit2x coming soon, not to mention the Lightning Network. There have been spikes where a large number of people are sending Bitcoins at one time where transactions may be slow, but it doesn't seem like it will be a major problem over the coming years. Just keep holding because it will probably be used as a store of value rather than cash.
It is even faster if you take into account that some people are using the Lightning Network now and it was not around back then.  I was using Bitcoin before the whole spam attack thing happened with Bitcoin XT rivals and what not and the tx confirmation was not that big issue before that. Once rival forks came on the scene, butthurt coiners started to spam the Bitcoin network and everything went to shit. Now, with SegWit, these attacks became too expensive and they backed off. The LN made these spam attacks virtually impossible, so scaling is not an issue anymore. |
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It wasn't a burst yet, merely a taste of it. When there will be a real burst, altcoins will be going to literally zero, and only some top coins will retain some small portion of their value. But this might happen without Bitcoin being in bear phase, it can very possibly happen while Bitcoin will have a bull run, and altcoin bagholders will be abandoning their shitcoins as they will realize that Bitcoin is the coin that works and alts are just vaporware. Also, a good indicator for the state of this alt/token bubble is how accepted the narrative of "blockchain tech" is outside of the crypto sphere. You can see that the skepticism starts growing as many tech experts are voicing their doubts.
There are only 2 possibilitites that I see now: 1) We have already had our "dotcom". Now, most investors are aware that most altcoins are useless crap in which people used to put money hoping to get their BTC x1000 in the next pump of the hour. All these big gains on altcoins are gone and it's better to stay 100% on BTC as we go to 6 figures against USD in the next halving. 2) We only had a small taste of what's to come. Trillions will come in to create a mega altcoin bubble with a very strong Bitcoin as well (probably when BTC is somewhere around $100,000 to 300,000). Considering that dotcom bubble peaked at 6.7 trillion USD, we couldn't have seen anything yet. Then after that, all altcoins die, BTC is crashes to like $10,000-40,000 or so, and then here we go again "Bitcoin is dead" etc.. for a couple of years, then Bitcoin comes back dwarfing all previous peaks and goes to $1,000,000+ ~~~~ Im more inclined towards the second scenario. Mainly because I believe most people were still clueless about BTC + alts, so there will be massive investors in the forms of $trillions which will have to go from that "im going to invest in this alt which will x1000" phase to acceptance "most alts are nonsense and BTC reigns supreme" acceptance phase. Your analysis makes a lot of sense now. We might be in the first phase of the realization that Alt coins are mostly "pump n dump" copy cat coins with little or no future, as you said. So, you get a bunch of people who wants to get a taste of the profits that early Bitcoin investors had, when it was in the early stages. This will never happen on the same scale as Bitcoin, because Bitcoin was a brand new concept at the time. <Most Alt coins are just adding some small changes and a different token to the original Bitcoin code> |
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OP, your thread about this casino is turning into a mirror for your own activity now and less of an attack towards this casino's elegit wrong doings. It is derailing your effort to discredit the casino that you are targeting.  Let the evidence speak for it self, if there are any truth behind it, because this is looking more like a personal vendetta and a collection of butthurt gamblers, that are acting out against a casino that might even be their competition. If this casino is a scam, then evidence against them will pile up and they will cause their own demise. Your excessive efforts to take them down in this way, raise concerns and suspicion that this is not just a normal scam accusation. We all know there are crazy competition between casinos and dirty tactics are used to discredit rivals, is this just one of those attacks or is this a genuine effort to highlight a legitimate scam site? If you can prove that this is a legitimate effort to highlight a scam site, then I will commend you for your persistence. He's financially incentivized to make claims against casino's whether or whether not there's wrong doings. He won't stop as long as he is producing revenue. His process: Step 1: Create a website w/ referral links to a few casino's w/ profitable referral programs, listing them as "good" casinos. Step 2: Attempt to discredit any casino's that aren't within that list, providing a hyperlink to said website as "proof". Step 3: Defend any casino's on that "good" list, and offer to lay claims against any of the "bad" casino's receiving a 30/70 split. Step 4: Profit off referral traffic & any claim payouts that may be received. He'll never stop unless there's personal accountability on his end, or until a ban is administered. He keeps his info private on purpose, and takes advantage of those who have actually had bad casino experiences. Take a look at his post history, and see the casino's he bashes/defends. I'm all for casino accountability (and business accountability in general); but this is just a pure lack of integrity on his part for his own financial gain. He serves no purpose to this community, what-so-ever. Ok, I did not dig that deep into his reason for doing this, but I see he has promoted some confirmed "scam" casinos, so that raise the red flag for me. Why would you want to continue doing this, if your ulterior motive for doing this, was exposed? <Or is he denying this?> There are so many scammers on this forum, you do not know if the scammers are scamming the scammers now. I am the kind of person that always try to be biased in situations like this, so I gave him the benefit of the doubt. It could also be that the scammers ganged up on him for some reason to silence his concerns. <Many strange things have happened on this forum, so I will not discount any foul play> |
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The Bitcoin price is based on Supply & Demand and it could care less about who earns, what amount of coins. Yes, if a lot of people are hoarding coins, then the supply will drop and the price will go up. <That is just how it is supposed to work> The problem is, if the demand goes down for the coins, then people can hoard as much as they like, the price will just keep going down. The $5000 stronghold is holding it's position, because the demand is there to support it. |
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The one thing that makes Bitcoin so desirable for some is the fact that you can pay for something with Bitcoin, with no risk that the merchant or the eCommerce site can lose your credit card details or your account details <PayPal> A lot of people complain about their Credit card details being stolen or hacked and this cannot happen when you do a Bitcoin transaction. Yes, some third party Bitcoin service might get hacked, but it is not Bitcoin's fault. |
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This strategy to Hodl a commodity is actually quite common in other commodities too, so this is not unique to Bitcoin. I know some maize farmers are doing this with the maize price too, because they can store the maize until the demand for the maize increase and the price increase. Once the price is high enough, they will sell some of their maize to the market to increase their profit. People hoarding bitcoins is doing that for the same reason. <waiting for the price to increase, before they start selling> |
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OP, your thread about this casino is turning into a mirror for your own activity now and less of an attack towards this casino's elegit wrong doings. It is derailing your effort to discredit the casino that you are targeting. Let the evidence speak for it self, if there are any truth behind it, because this is looking more like a personal vendetta and a collection of butthurt gamblers, that are acting out against a casino that might even be their competition. If this casino is a scam, then evidence against them will pile up and they will cause their own demise. Your excessive efforts to take them down in this way, raise concerns and suspicion that this is not just a normal scam accusation. We all know there are crazy competition between casinos and dirty tactics are used to discredit rivals, is this just one of those attacks or is this a genuine effort to highlight a legitimate scam site? If you can prove that this is a legitimate effort to highlight a scam site, then I will commend you for your persistence. |
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Christ, when I thought I've seen everything. First, they are putting an ICO out there for their funding - great, just what we needed, another shit-token for raising funds. Second, they have the following in their whitepaper: "To achieve scalability, bloXroute utilizes (i) system-wide caching that enables faster propagation and Gigabyte-
size blocks, and (ii) cut-through routing that enables swift and efficient transmission of blocks through the network."
"In essence, bloXroute implements and provides an efficient broadcast primitive to the blockchain nodes, via a network
of Gateways, making them operate as if they are on the same Local Area Network, while in reality they might be residing at
opposite parts of the globe." They are comparing it to a "broadcast" network model, which doesn't scale worth a shit. And what the fuck is up with that GIGABYTE SIZED BLOCK shit? Oh, there's more of this shit sandwich: "Cryptocurrencies require no protocol change beyond adjusting the block size and inter-block time interval to fully utilize bloXroute’s capacity." OH? Is that all? You just want us to increase the blocksize and change the confirm rate? Gosh golly gee, where did these people come from -- have they not paid attention to what is going on in the cryptocurrency space for the last fucking YEAR or so? Here's a great article why the stupid shit mentioned in bloXroute's whitepaper isn't going to work - broadcast vs unicast -- https://medium.com/@melik_87377/lightning-network-enables-unicast-transactions-in-bitcoin-lightning-is-bitcoins-tcp-ip-stack-8ec1d42c14f5You've got to be fucking kidding me with this BLOXCRAP bullshit. Oh, and Jgilpulg -- posting that huge image was a good tip-off that this thing was a piece of shit too. Thank you for the whitepaper review. It was not that hard for you to notice that it was a scam I presume hehehe. In any case, I want to know why the bitcoinist printed that scam, who requested them to and also if they were paid to. People are too quick to label something as a scam. I think we must step back and be open to alternative ideas for scaling, other than the Lightning Network as the only solution for this problem. I have not seen anyone coming up with suggestions to compress the data that are going on-chain as a scaling solution, so for me this was refreshing to consider another angle to this debate. <Yes, I might have missed other people's suggestions> The greatest thing about Bitcoin is the fact that anyone can make suggestions for the improvement of the technology, just imagine for a moment if Microsoft owned Bitcoin and you wanted to write code for it as someone that was not employed by them. After all, these are a bunch of students, so let's just give them a opportunity to take a crack at solving this problem with their angle on the solution. |
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I feel that his concerns are a little overblown. I agree that owning shares of a Bitcoin ETF is inferior to owning the bitcoins outright and for all the reasons he gave.
However, I don't think the concerns about manipulation facilitated by an ETF are warranted. If there is any manipulation, it will be related to Bitcoin derivatives and not the ETF itself.
It depends on what is used to determines the value of the ETF? If they determine that the price will be sourced from a regulated exchange within the USA, then global manipulation will have less of an impact, but the local price will "adjust" to synchronize with global supply and demand and this is where the manipulation will have it's biggest impact. The people who will be manipulating the price, will not do this in a regulated environment where it can be detected and tracked to individuals or groups. How do you remove a specific group of regulated exchanges from the global supply and demand on other platforms, to prevent external manipulation? |
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Ask that same question about other commodities like Gold and Silver and you will get the same answer. The people who makes the best trading and investment decision, will make the biggest profits. If you buy low and sell high, then your profits are guaranteed, but unfortunately this is a over simplified explanation, because some people have to wait for years for that to happen, because they bought too high or the market collapsed after they bought. <Like a lot of people did, when they bought last year at $19,000+> Bitcoin is not a get rich quick scheme and it usually is those people who lose the most money. |
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New technologies that shift the paradigm take a long time to really understand. The narrative around bitcoin is still really hard to grasp. Really the only metric we have for most cryptocurrencies is the price, and price is such an imperfect metric. What does actual utilization look like? That’s really the struggle for crypto right now.
This is actually what sets Bitcoin apart from it's rival Alt coins. Bitcoin is currently backed by a much larger network of users and merchants that supports it, but these Alt coins are built around 1 or 2 solutions and a small network of merchants and users. The Bigger companies during the DotCom bubble had a stronger user base and focussed on multiple applications and solutions. The smaller companies was mostly hyped and built around single solutions and when the economy started to collapse, they took the biggest damage and they could simply not recover. |
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Ah, Ok.. I also understand this much better now. I think the main problem I have with this, is the total transparency of the transactions. The only tx that will be auditable will be the settlement tx on the Blockchain and the tx when the channel is opened. The 1000s of tx's that are done with the channel is not auditable. How will this be handled in a dispute? <Example : Pay-per-view micro transactions with streaming content, when one party provided the service and the other party denies receiving the payment for that content> Interesting question. I think asking both parties to share all transaction/HTLC would be fastest way, even though there's anonymity/privacy concern to both parties and anyone who use their channel to route transaction. No, it is not about anonymity and privacy, remember with on-chain tx's all the tx's are recorded on the Blockchain, so it is easy for someone to audit the tx history. Will the LN add another layer of anonymity to your tx's, acting as some kind of mixer service, where tx's are done off-chain? How will my auditors be able to audit my books, if I only provided them with a opening tx and a closing tx on the Blockchain? |
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Fear of the unknown is the greatest barrier to entry for most new investors in this technology. We are being bombarded with scams from all sides on a daily basis and people have grown accustomed to having a shield up to protect them against these scams.
Once you realize that this is a real investment opportunity and not a scam, then you feel regret that you did not jump in earlier. ^grrrrrr^
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Well, just the other day, someone posted a article that reveals Malware that were for sale to target Bitcoin ATMs. So, these guys are not just targeting Fiat ATMs. If government sanctioned attacks are launched at Bitcoin ATMs and people's private keys are hijacked or coins re-directed, then this will have a huge impact on people's ownership of coins. They may lie dormant, until they gathered enough information and then shift massive amounts of coins from "active" wallets in one sweep. <They do not have to send people to ATMs to physically gather the cash, like some hackers did before.> |
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