Please tell me you've already capitulated. We need you to reopen shorts when it actually does roll over.
Unfortunately i'm stuck with an altcoin that keeps devaluing because of this bulltard run and i cannot enjoy profiting from this. Bitcoin doubled from the point where i bought, but my altcoin went down 50 percent. If i sell my altcoin so i can dump Bitcoin, then there's a big possibility of seeing 220$ per BTC in the future (of course, after the ponzi collapses), but my altcoin doubling in price (regaining its former value) in the meantime. Can't do much  You just call it "my altcoin"? |
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Long time no see...  That tastes kinda like a near beer. |
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Please tell me you've already capitulated. We need you to reopen shorts when it actually does roll over. |
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Nice, a second chance at actually celebrating it this time...
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Good morning China. Let me pour you a nice cuppa Joe.
We've had a fun day here in the west and now you can join in too. We even got a nice little correction in so you can start out fresh in driving the price to new highs for the year.
Hope you have as much fun as we've had. A bull market is such a jolly thing.
This is my first one. I'm giddy and confused  You popped your cherry.  |
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Some of the giant chinese mining pools are currently centralizing the validation of every transactions they mine.
Do you find that to be a concern?
I do. And I recall some of them paid dearly for that recently, so they might be thinking about it too. What part of "they're still doing" did you not understand? You'd think they would've stopped by now if really it wasn't profitable. But no, we'll just pretend that a couple of dropped blocks undermined weeks and months of cheating the system. "That'll make em learn"!  So we should be really afraid of miners solving blocks that will be rejected by the rest of the network? You guys have such interesting concerns. |
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Some of the giant chinese mining pools are currently centralizing the validation of every transactions they mine.
Do you find that to be a concern?
I do. And I recall some of them paid dearly for that recently, so they might be thinking about it too. |
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What exactly happened? The 2-3 giant mining operations who accounted for a majority of GHash's power dispersed into different mining pools so as to camouflage their actual share of the network and give the appearance of decentralization?
Are you suggesting protocol level changes to combat this? Economies of scale guarantee there will be a relative level of centralization in mining. I'm not. Too be fair I'm not too concerned with miners centralization but it's another thing to pretend that things are all jolly and there's no consolidation going on behind the scenes. , trust in the network will dissipate and everybody looses..and especially them who has spend millions building top notch infrastructures. You're so close hdbuck  |
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What exactly happened? The 2-3 giant mining operations who accounted for a majority of GHash's power dispersed into different mining pools so as to camouflage their actual share of the network and give the appearance of decentralization?
Are you suggesting protocol level changes to combat this? Economies of scale guarantee there will be a relative level of centralization in mining. I'm not. Too be fair I'm not too concerned with miners centralization but it's another thing to pretend that things are all jolly and there's no consolidation going on behind the scenes. I can roll with that perspective. Also, I will say I've had some good conversations on these issues with you brg444. Both sides can get heated at times but your sentiment comes across as honest. We can't have light without a little heat. Let's drop the ad homs and enjoy these lofty levels for a moment. No more dumps here? I'm pretty sure more fiat will be hitting exchanges this week.  |
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What exactly happened? The 2-3 giant mining operations who accounted for a majority of GHash's power dispersed into different mining pools so as to camouflage their actual share of the network and give the appearance of decentralization?
Are you suggesting protocol level changes to combat this? Economies of scale guarantee there will be a relative level of centralization in mining. |
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Miners are sufficiently incentivized to choose an appropriate block size. Too big and their chances of being orphaned increase. This is the decentralized solution for a decentralized system.
I'm not sure if you're thinking of "no block size limit" or BIP100, I'm guessing the latter. As a miner myself, and from keeping an eye on the mining field, I can tell you that giving miners this kind of power might lead to some very odd behavior. Most of the companies and pools should not be trusted with that kind of power. It's no point with incentives if you don't understand the consequences of your actions. Just look at Ghash.io's 51% attack scare last summer. There's also the fact that we have no idea who the big actors in the field will be in five years time, nor their motives. The devs need to find a clearly defined solution and implement it. Preferably before we hit the wall. I meant the former. BIP100 adds a convoluted voting mechanism in an effort to mimic what the free market would do on its own. Go ahead and look at the Ghash debacle, it will show you that mining isn't quite as centralized as it appears. The miners already have the power, it's just that right now Core serves as a veneer of "community" central control. The same factors that prevent malicious mining behavior (killing the golden goose and mutually assured destruction) will work in this case too. On the "before hitting the wall" vs "after"... wholeheartedly agree. |
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was a good run you bulls, but this pattern is not your friend. this is going back south now, dips will be called spikes and bears going to have the fun ride  Or it could just be the greed valve going psssssssssssssshhhhhhhhhh. This train does make regular stops as the wider distribution of coins marches on. |
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I see Mr. Short 5000 at $320 cut his loose. |
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Fears of centralization are real, fear of 3 tps being a huge bottleneck are real.
Calling large miners centralized is like saying Kenya rigs the Boston Marathon. Bitcoin needs to be competitive. Should they limit the run to only white middle-class factory workers from Peoria? Watching them drop dead from heart attacks wouldn't be much fun, nor does watching blocks take days to process and get dropped. You can't make rules that exclude people because they are good at what they do. I was referring to relay node centralization, not mining nodes. |
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Small blocks help a determined tx spammer because once the blocks are full, their transactions get dropped from the mempool and their fees can be recycled to continue the attack. Make the attacker pay fees. Make it very expensive to clog the network.
Miners are sufficiently incentivized to choose an appropriate block size. Too big and their chances of being orphaned increase. This is the decentralized solution for a decentralized system.
Core wants training wheels? Fine, do the 2, 4, 8 increase. I liked Garzik's one off "kick the can" 2MB because it would allow us to measure and study the effects on relay nodes.
If this rally turns out to be like 2013, we are going to see big increases in tx's. I'm willing to wait until January to see what comes out of Hong Kong, but if it is more stonewalling... my fears of capture by a for profit entity will be solidified.
We should stop the bi polar battle though. (Of which I'm guilty of participating in too) Our objectives are the same: the success of Bitcoin. We have enough external enemies without tearing ourselves apart with internal bickering. Fears of centralization are real, fear of 3 tps being a huge bottleneck are real.
BJA: Be careful man, nothing wrong with locking in some profits and taking some gambles, but don't lay yourself down on the tracks to make a political point. We need your opinion in the upcoming months.
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Famous last words but... I expected stronger dumpage after that run.
The hodl is strong at the moment.
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You say it because you are sad that you got no profit with the recent bull attack because you have no Bitcoins
I bought 0.00000000 BTC when I first learned abot bitcoin -- in nov/2013, when the price was ~1200$. So, even though my investment was fairly modest, and (as you already know) I have been able to double my holdings every day since then, I am still quite disappointed by the loss of almost 70% of the money that I put into this coin. i think you should try buying 1.0 BTC this time, frankly buying 0.000000000 BTC will surely result in loss and disappointment. you can imagine if you were buying 0.00000000BTC at 200, you would still be disappointed atm. If I had a satoshi for every time someone tried to push Stolfi to buy "just one coin"... well, I'd have no where near a full bitcoin. |
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buy @ 368.87
don't end up like me kids...
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$3 $1 left until $400 equiv in yuan...  The entire exchange landscape is miles ahead of what it was the last time we had mania like this. The rails in and out have been heavily upgraded in the last two years. |
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