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May 25, 2024, 03:47:04 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
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1  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 28, 2017, 03:30:58 AM
Not looking good I'm sad to say. After this giant crap the egoists, johnny-come-latelys and sociopaths have taken on bitcoin all we can really do is wait for them to officially rage-quit and flounce off in Hearn's taffeta flowing wake .... hunker down, settle in for the long game I guess.

come to the dark side Marcus. We have cookies.
2  Economy / Speculation / Re: Analysis on: March 27, 2017, 04:46:03 PM
watching this thread for inevitable fear and loathing.
3  Economy / Speculation / Re: Analysis on: March 26, 2017, 07:12:32 PM
So silent here....because Scaling debate.

Which proofs that price is determined by fundamentels, not so much by Elliot Waves.

It doesn't prove anything. In fact, Luc was right about a new ATH, just not the height. It's only down from here until the coin forks.
4  Bitcoin / Bitcoin Discussion / Re: Fuck: SegWit, LN, Blockstream, Core, Adam Back, and GMazwell on: March 26, 2017, 07:02:50 PM
Would you please stop obsessing over me?  It's creepy.

I am not your mommy.

You do not get to determine how I spend my time, you do not get to restrict what I say or believe.  I don't force anyone to do anything. You will you make me cow down and obey you through threatening me by lying to the public to try to raise a mob of idiots against me, and even if you do manage to get me killed you will not stop bitcoin, you will not convert it to the centralized coin you seem to so desperately want.

So give it a break.





Dear Greg (and other Core developers),

Your response is deeply worrying me, I've decided to stop being just a spectator and register to make a comment, I hope this will help you and Core in some way.

Let me just begin by stating that I've been a long time Core supporter.

When Core released a new version of their Bitcoin software, I knew there was a certain level of quality control as well as forward thinking, a certain level of trust. It is because of that trust that I've never even considered looking at other alternatives, until now.

As a general fan and user of digital currency, I have no allegiance to Core/BU/XT/Miners or who ever, I don't feel personally attached to any party, I am just interested in Bitcoin's general progress, how Bitcoin will change the world for the better and make people's lives easier. I am also a realist, that means I will only make judgment base on practical matters instead of some arbitrary ideal moral high ground. So, everything I am posting here will be as neutral as you can get from a Bitcoin user.

With that out of the way, I must say, what happened in the past few months have really begun to change my perspective on Core.

For example the current BU fiasco, my understanding is that, a year ago some miners wanted 8MB blocks, some wanted 4MB, there was the usual struggle and bargaining between users/miners/nodes/developers, eventually the miners made a compromise, the "Hong Kong Agreement" was made, in which miners agreed to support Segwit and a 2MB block size increase, Adam Back signed the agreement, only to have you call them "dipshits" and broke the agreement afterwards. Source.

Because of that, now, a year later, the block chain has reached the 1MB block size limit, there is a huge tx backlog and as a result the tx fee has sky rocketed, users are affected and many have moved their money to alt coins. The miners have no choice but to choose the other best options: Bitcoin Unlimited.

So how can anyone honestly blame the miners and BU at this point? Seriously, even if you're paid to do so, deep down you must know this crisis was coming a year ago, and it was Core's responsibility to prepare for it.

Core and some of its fans (some are obviously paid) keep repeating miners and BU are evil because they are splitting the chain, sure you can say that, but seriously, what did you expect them to do. They already compromised and was ignored, now there is a tx backlog, Bitcoin is losing ground to competitions, Core is sitting on their asses holding the code hostage, breaking agreements, making insults, what else are the miners supposed to do. What did Core expect them to do?

I am not even defending miners/BU here, it's all about the block size limit, I am using a pure practical pov: If BU didn't exist, miners would have switched to something else without the 1M limit, simple as that.

Anyone who keep pointing their fingers at miners/BU is just trying to ignore the fact that Core did nothing about the 1MB limit for years.

The thing that really irritates me though, is that the block size limit wasn't even in the white paper, so why would Core hold the code hostage and refuse to increase the limit from 1MB? 1MB is such a small number, how can you even justify not increasing it?

The fact is many Core developers were openly supporting block size increase, but then became strongly opposed to it after they started working for Blockstream, now I don't care for all the conspiracy theories, but can you people just come out and explain why the sudden change of heart?

I find that really puzzling, it's like watching people who used to love pizza, suddenly hate pizza after they work for McDonalds, it just doesn't make sense. Mind you these Core members didn't just simply change their taste, they went from openly supporting raising block size limit to openly hating it with a passion.

Every explanations I've read from Core in the past few months, can basically translate to: "Our Segwit and LN will be soooooo great, who cares what people actually need right now, stop talking to me, I don't care, I already know what you want, if you don't agree with me, you're just stupid."

If Segwit and LN is so great, it'll naturally be adopted when there is a real demand. Core already had the market share and user trust, they already have the golden goose, so why do they have to kill the goose just to get the Segwit golden egg?

Core kept chanting how great Segwit and LN are, it may be true, but their actions tell me they are really insecure about them, otherwise they wouldn't need to artificially create a crisis just to force everyone to use it, I don't know about you, but I believe actions always speak louder than words.

Satoshi saw this tx backlog coming when he was designing Bitcoin, the block size limit isn't even in the white paper, the 1MB limit was only a temporary measure to stop spam in the beginning.

Satoshi's white paper clearly states that consensus should be made base on CPU power, not the number of nodes or IP addresses, not the number of developers, not online poll ratings, not social media, not forum polls, just CPU power. Satoshi made this decision not because he trusted the miners, but because he expected everyone to be selfish and act on their own interests, and of all the pieces in the ecosystem, hash power is the most difficult to fake and come by.

Miners are constantly in an arm race, hash rate never stop climbing, in this constant zero sum survival of the fittest, they get nothing the moment they stop competing, eventually miners become so focused on competing with each other, fine tuning every last knob to gain an hash rate advantage.

Regardless of what anyone else is doing, miners are always at maximum greed under the highest pressure, like a piano wire.

And that is the beauty of the Bitcoin design: All miners worry about is turning electricity into profit, they don't even care who is running the show, they ignore everyone else equally, because no amount of sucking up to users or developers will help their hash rate, but, miners do care about the stability of the ecosystem, because their profit depends on it. Given a choice they'd rather not make any decision that may shake the grounds and risk their profit.

So, in a world full of greed, lies, mistrusts, secret schemes, accusations and back stabs, miner's indiscriminately pure and focused self serving nature makes them the perfect center of balance. When nothing is reliable and nobody can be trusted, the simplest and purest form of greed becomes the constant.

As a digital currency, having consensus base on hash rate is why Bitcoin succeeded while other digital currency failed.

Miners generally don't care about what anyone else is doing, unless some other part of the system did something really short sighted (read: stupid) to tip the balance, and that is EXACTLY what Core did, miners tried to make compromises but were ignored and insulted, now the back log is full, miners are simply reacting in self defense.

Anyone who still blames the miners at this point, simply don't understand Bitcoin and why it succeeded.

Regardless of what you think of BU or Segwit, from a development point of view, Core simply failed, it failed because it ignored user's immediate and practical needs. They sat on their fat asses for a year, making promises after promises on some ideal vision, while there is a huge tx backlog on ground floor.

There are good and responsible Core members, but unfortunately a lot of Core members, especially the loudest ones, seem to be focused on excuses, launching personal attacks, making empty promises, making threats, playing victims, while ignoring practical and immediate user needs.

Greg, you may have a big ego, but you're not Bill Gates, and Bitcoin Core is not Microsoft Windows, block chain technology is young and there are competitions, Bitcoin users are mostly early adopters, they are sharp and they like trying new things, you can't play Bill Gates and use Microsoft tactics and still expect to win.

It is true that you currently have some status and spot light, you have your financial backings, you have your crew and echo chamber, you have your side chain patents, from your pov it really looks like you can do whatever you want, insult people, ignore users, and nobody can do anything about it.

But, in this field anything can happen in a year, so many new and shiny things have come and gone.

Pride goes before a fall, Microsoft, AOL, Yahoo all spent billions and failed because they ignored their users. Blockstream only have $75 million, they already made a big mistake, but for some reason they're not turning around, instead acting even cockier than Microsoft.

Judging from how you ignored Satoshi's email and only arrive back to the scene years after Satoshi has gone. I have reason to believe you're the type of person that lacks intuitive foresight.

So I am going to give you an advice: You're on the wrong side of history, but you still have a chance to turn around.

You can't treat your users like they are idiots, they might not find out the truth the first day, they might be fooled by censoring tactics, but eventually there will be a crack, and once people find out you've been lying to them, the trust is gone forever, they'll never trust you again.

Look at the Iraq war, the so called WMD, look at Powell, there were massive misinformation campaign to push people to war, emotions were high, lies mixed with half truths were flying around, SJWs and useful idiots were screaming on top of their lungs, so many people were convinced there were 100% right.

But a decade later, everyone just remember Powell as the guy who lied on TV holding a bottle of white powder.

Where do you think you will be in 10 years, Greg?

Are you going to be remembered as someone who made Bitcoin better, or someone who missed the Bitcoin boat twice?

Bitcoin Core team, this is for you: You had your chance and you failed, no matter who you think you are, you're on the wrong side of history and I don't believe in you people anymore.

And before you try to point fingers and accusing me of helping a side, I am telling you, I don't care who wins, I am tired of your BS and I am going to ditch Bitcoins until things clear.

I am not going to risk my hard earned money on a bunch of short sighted arrogant insecure emotional lying pricks and bitches stuck with messiah complexes who scream a lot and talk big but can't solve simple and practical problems right in front of their noses and screw things up for everyone then turn around and play victims like some entitled pre-adolescent brat asking for a kick in the face.

That's all.

Alex

Thanks for articulating well what I should have said publicly almost 2 years ago.
5  Economy / Speculation / Re: Analysis on: November 01, 2016, 10:01:19 PM
there is a strong resistance point (5184 yuan) approaching shortly so be careful with buying right now.

It's November. Resistance is futile Wink

EDIT: joke aside: that point would be a good opportunity to draw a handle to the cup starting mid-June. If that subsequently played out we could do the same again at ATH for the 3 year cup and then blow all expectations to shreds. Timeframe: xmas would be good, no?

EDIT2: It would also confirm my wild speculation that a halfing starts to take effect (the effect being a epic rally) with a ~ 3 month delay (like last time in January '13). Of course now everybody already forgot the halfing event and will attribute a rally to something else (also like last time). I frankly don't care Wink

Yup that is quite likely, good call.

If that confirms, the ATH is not far away so that will be interesting.
6  Economy / Speculation / Re: Analysis on: November 01, 2016, 02:42:02 PM
there is a strong resistance point (5184 yuan) approaching shortly so be careful with buying right now.
7  Economy / Speculation / Re: Analysis on: August 02, 2016, 08:14:53 PM
The target of ongoing drop is somewhere between weekly ma20 (540) and daily ma200 (490).

I think break of daily ma 200 has low odds to happen (or may happen without closing below it - instant bounce). If it close below d/ma200 - it would be bearish sign. Unless it doesn't - we have a normal correction of 198 - 778 rally.

The fibs are: 418 487 556



I think we found the hacker boys







 Wink

 Shocked
8  Economy / Speculation / Re: Analysis on: August 02, 2016, 06:01:21 AM
Just use Hanlon's razor

Yep. Never assume malice when stupidity will suffice.
9  Economy / Speculation / Re: Analysis on: August 01, 2016, 12:57:50 PM
[conspiracy mode]

Looks like "They" want some hardfork in Bitcoin by doing it in ETH.

https://mobile.twitter.com/brian_armstrong/status/755853907654356993

ETH price goes down hard while it has majority of power. And ETC price doing versa up, while ETC fork has 10% of power. Miners support ETH while speculants - ETC. ETH schizophrenia is in progress. I think "They" want to make some expirement with Bitcoin. They were almost succeed with it with Mike Hearn. But community kicked them out.

Who are "Them"? I think its a some group of big ppl wanted to watch what happens with Bitcoin nightmare - hardfork. Of course those Armstrongs and Hearns are just puppets.

This explains why ETH got so much sociaty and media attention last months. It's a trojan horse preparing Bitcoin for hardfork. They took control of ETH, made an enourmous PR, fuck it up and now what? - "Look! It's safe!". Why else coinbase suddenly starts to support just forked ETH chain?

I think someone needs to kidnap Armstrong & Hearn, put a gun into their mouth and ask "Who do you work for"?.

https://twitter.com/SDLerner/status/759022750623272960

The whole ethereum project was for only 1 purpose - push hard fork into Bitcoin.

lol Luc. You are a brilliant analyst... but I think your tin foil hat is now so large it's covering your eyes.
10  Economy / Speculation / Re: Analysis on: July 22, 2016, 04:20:02 PM
The last page of this thread reminds me of what Zerohedge looked like when discussing bitcoin a few years ago.  Wink
11  Economy / Speculation / Re: Analysis on: July 01, 2016, 08:09:10 PM
most patient will be winner

I'm glad I bought at $330 ... I do not have to be patient :-)

I bought at $6 and my patience ran out over a year ago.
12  Economy / Speculation / Re: Nights Watch by Afrikoin on: June 16, 2016, 10:22:32 PM
no dip to buy? WTF?


Dude. I am telling you.
https://www.youtube.com/watch?v=RDrfE9I8_hs

Same thing we saw in 2013.
13  Economy / Speculation / Re: Nights Watch by Afrikoin on: June 13, 2016, 05:25:48 PM
I am quite skeptical of elliot wave at the moment because China does what it wants. Any technical selling pressure from charting whales in the west will be just scoffed at.

IMO we are going to see a run up into 5k+ and when it crashes much of the pressure will be alleviated into altcoins this time rather than into USD so the violent nature of the previous returns to earth will be a lot flatter and take a lot more time.

China is a well orchestrated FUD. If you can't see this, you havent been following the fundamental news (as a trend) from as far back as a year out.

My 2 cents.

This rise seems highly coordinated and perfectly timed. Everything seems right. But in essence, not much has changed about the Bitcoin fundamentals. Sure, we've had some impressive CSVs mining votes,, but still, no soft fork and no hard fork (both necesaary in the medium term).


I wasn't talking about China's falling yuan pressure, I was talking about China buying through Huobi and OKcoin. They have been driving this rally from the start.

You won't get any arguments from me about the fundamentals not changing. But China does not listen to reason. If they did, they wouldn't have started buying in the first place.

We are going to see insanely backed up mempools and overall nastiness which will eventually bang some reason into china's head about the reality of the situation (which again will cause more buying into ETH as bitcoin falls)... but I don't think we are anywhere near that happening just yet.
14  Economy / Speculation / Re: Nights Watch by Afrikoin on: June 13, 2016, 03:03:36 PM
I am quite skeptical of elliot wave at the moment because China does what it wants. Any technical selling pressure from charting whales in the west will be just scoffed at.

IMO we are going to see a run up into 5k+ and when it crashes much of the pressure will be alleviated into altcoins this time rather than into USD so the violent nature of the previous returns to earth will be a lot flatter and take a lot more time.
15  Economy / Speculation / Re: Analysis ended on: May 02, 2016, 08:23:31 PM
Great to see you back Luc!

We all missed you.

I want to reiterate something I think was implied but never explicitly said before:

We don't expect you to always be right. You don't wear the brunt of our losses on your shoulders if you make a bad call. This responsibility is ours and ours alone.
We simply appreciate you for your elliot wave gift and whether we choose to integrate that into our own final decisions is our call alone.

Keep doing what you do so well!

 Wink
16  Economy / Service Announcements / Re: [ANN] Bfxdata.com | Bitfinex Market (price and market depth) + Swap Charts on: April 11, 2016, 08:26:32 PM
this is down for me. anyone else having problems connecting?
17  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency on: January 29, 2016, 04:56:39 AM
Have you guys seen z.cash? Any thoughts on the differences in the codebase between that and Monero?
https://www.reddit.com/r/Monero/comments/41vg68/monero_vs_zcash_eli5_fundamental_differences/

one is a cryptocurrency, the other is a taco cat, which is a palindrome. You get to decide.

perfect. thank you
18  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [XMR] Monero - A secure, private, untraceable cryptocurrency on: January 29, 2016, 04:44:13 AM
Have you guys seen z.cash? Any thoughts on the differences in the codebase between that and Monero?
19  Economy / Speculation / Re: Analysis ended on: January 25, 2016, 06:14:41 AM
for the love of Satan please stop bumping this thread... if you are not luc!!

you just did Wink

 Tongue

Come to bitco.in dude, we have cookies!

I'm there since the beginning. Is there a lucif thread?

heh no i wish. I doubt Luc is coming back. I come back and check this thread every few weeks though just to make sure.
20  Economy / Speculation / Re: Analysis ended on: January 24, 2016, 06:45:52 PM
for the love of Satan please stop bumping this thread... if you are not luc!!

you just did Wink

 Tongue

Come to bitco.in dude, we have cookies!
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