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1  Alternate cryptocurrencies / Altcoin Discussion / I don't understand the value thesis of XRP (Ripple) on: January 04, 2018, 05:53:54 AM
Ripple is:
* not decentralized (it really just a database in a private company somewhere)
* not a blockchain or even a cryptocurrency?
* 100% premined, with unfair distribution, the ripple company still retains more than 60% of currency
* no consensus, therefore there's not really any hardcap on the supply. Ripple company can just increase the supply cap at will, after all it's just a entry in their company database...

So I'm not sure what the value thesis for XRP is? It can do fiat IOUs? The current SWIFT system already does it reasonably well, I receive wires within the hour, across continents.

For online transfers, multitudes of crypto-currency can already do way better, heck even Bitcoin is better than using Ripple's IOU system.
2  Bitcoin / Bitcoin Discussion / Theory: Satoshi Nakamoto is DPR (Ross Ulbricht silkroad founder) on: September 22, 2017, 01:30:42 AM
Today I was reading some theories about who is Satoshi Nakamoto, and it came to me, that DPR (Ross Ulbricht, founder of Silkroad) is Satoshi Nakamoto

Most people can agree that Satoshi:
* is American
* is a skilled programmer
* knows a lot about cryptography and economics

Guess what, DPR studied economics extensively in college, and we all know DPR can code and have a keen interest in cryptography.

The biggest hint is the perfectly lined up timeline:
The last time Satoshi was involved in Bitcoin was around January 2011, Silkroad launched in February 2011. So if DPR was Satoshi, this would explain why Satoshi suddenly backed off from the Bitcoin development, he was too busy developing and running Silkroad!

Then I digged a little more and found:
DPR moved 1000 BTC that was mined in January 2009, which can only belong to Satoshi or Hal Finney. We know Hal Finney isn't DPR, so there's only one possibility left.

Also this would explain why after DPR was arrested, Satoshi's Bitcoins were never sold or moved, Satoshi himself never showed up anywhere. Because DPR lost his freedom and is rotting in a prison cell.

DPR (Ross Ulbricht) is Satoshi Nakamoto, he was arrested and sentenced to life in prison not just for running Silkroad, it is for something much more.
3  Economy / Speculation / Atomic chain swap between btc and ltc on: August 27, 2017, 04:42:26 AM
The newly implemented atomic chain swap between btc and ltc means basically ltc = btc in terms of usage right? Anywhere that accept btc, I could just use ltc and it gets auto swapped to btc.

So I'm thinking since ltc=btc now, shouldn't ltc price actually become 25% of btc price given that ltc max cap is 4x of btc?
4  Bitcoin / Development & Technical Discussion / Faster blocks fork on: August 22, 2017, 07:37:14 PM
Just throwing it out there, would anyone be interested in a Bitcoin fork that has faster blocks (Let's say 10 second blocks). Block size 0.2MB. Effectively increasing block size to 12MB per 10 minute

* Time to 1st confirmation will be a few seconds on average, good enough for even buying coffee and actually getting a confirmation, instead of relying on completely insecure 0-conf or 3rd party service
* Much better tx/sec capacity obviously
* Better user experience overall, it will just feel fluid for all tx, anyone that has used a sub-10 sec altcoin should know the feeling. Everything is just fluid

* Potentially bigger blockchain size obviously, but that's not really a big problem unless we are doing VISA level transaction volume
* Orphans for everyone, but that's fair
5  Alternate cryptocurrencies / Altcoin Discussion / Is there any decentralized prediction market that is working NOW? on: July 13, 2017, 02:59:16 AM
I need these features:
* decentralized of course
* can create prediction on any reasonable event/topic
* can expect resolution to be accurate and fair
* can access easily, preferably have a web version.
6  Economy / Speculation / Someone knows something on: January 11, 2017, 03:44:52 PM
Exchange inspection is known news and completely expected, why the sudden $100+ price drop. Someone must know something is up.
7  Bitcoin / Bitcoin Discussion / It's about time to start rewarding full nodes on: December 22, 2016, 03:59:38 AM
Bitcoin currently only have around 5k full nodes, this is less than back in 2013, when we were hovering around 7k full nodes.

As the chain is getting huge, quickly. It's no longer trivial to host such big blockchain, the disk space and bandwidth expense is quite high.

We will need to start discuss rewards for hosting a full node that stores the full blockchain, they add a lot of value to Bitcoin and it's unfair that they have to do it for free.

8  Economy / Computer hardware / 32x Antminer U1 USB miner for $800 ($25 each) on: May 31, 2016, 06:54:22 PM
32x Antminer U1 USB miner for $800 ($25 each)

They are used for around a year, never overclocked.
Preferably I want to sell all of them in one batch. But if you need just a few, I could accommodate too.
If you take them all shipping is free.
If you need fewer quantity, shipping is flat rate $6 within the US for any quantity. International buyers, you will have to pay the extra shipping depending on your country.

You will pay first, I am a reputable long time forum member. I can also accept escrow with a reputable service if you are concerned about trustworthiness, you pay any associated cost with the escrow service.

update 2016-06-02: 5 sold, 27 remaining

update 2016-06-05: 14 sold, 18 remaining

9  Bitcoin / Bitcoin Discussion / Mike Hearns is not wrong about the PoW mining on: January 15, 2016, 02:20:25 PM
The main problem here is still PoW mining:
* centralized in the hand of a couple rich mining farm owner
* centralized in one location, China
* any change to Bitcoin must be authorized by these couple of large farm owners
* they fear large block size due to slow Internet in China
* massive waste in hardware and electricity, money that could have been invested in Bitcoin itself.

Proof of Stake minting would have resolved all of these issues. PoS is "buy Bitcoin to mine", vs PoW "sell Bitcoin and buy more hardware/electricity to mine".

Even if Bitcoin decide to keep PoW. For god sakes, go with FASTER BLOCKS, instead of larger blocks. I don't understand why larger blocks? faster blocks is clearly superior, and PoW miners in China would prefer small blocksize.
10  Economy / Auctions / [AUCTION]TBLOB.ORG (The Big List of Bitcoin) on: December 04, 2015, 04:50:11 AM
I started this site back in 2013, intended it to be a "big list" type of site that lists a variety of Bitcoin resources.

With busy work schedule and life (had 2 babies born since then), I never found the time to develop it further or market it properly.

This is the google analytic traffic stats for last year or so, with my minimal amount of effort.

I made around 3 Bitcoin total from running the site for 2 years. The income is derived from listing request (currently 0.05 btc per request, when I started it was 0.25 per request, but I lowered it since Bitcoin has gained a lot of value), and donations.

I think this site has lots of potential in the hands of a capable owner, that can develop it further, maintain updates and market it properly.

The buyer will receive the domain name, and all existing script that is running the site (it's just a simple custom script developed by me, plus a tiny mysql database). I didn't have the time to develop a backend, so updates to the site listing were done by going directly in the database and adding entries there.

Bidding will start at 1 Bitcoin. I will not sell the site for less than 1. I will require half payment up front, and then I'll transfer the domain to you, and then send you the site script once I receive the rest of the payment.

Thank you and serious bidders only.
11  Economy / Speculation / The real halving reality on: November 03, 2015, 05:07:23 PM
6 months before last halving, Bitcoin went up 300%, then 24000% in the year after the halving.

Are people hopping on the train earlier this time around?
12  Alternate cryptocurrencies / Altcoin Discussion / Decentralized discussion forum? on: March 28, 2015, 03:55:44 PM
Is there any altcoin that is building a decentralized discussion forum? something like reddit, but decentralized.
13  Bitcoin / Bitcoin Discussion / $5000 per coin will never happen if PoW mining is allowed to continue on: October 23, 2014, 03:25:47 PM
PoW mining currently transfers $500 million USD worth of wealth out of the Bitcoin eco-system, into the pockets of pools/miners/asic hardware vendor/electricity company.

This wealth transfer will go on, perpetually, as long as PoW mining exists. Because, as long as Bitcoin relies on PoW mining to secure the network, the expense will exist, and it can
not be cheap (otherwise attack on the network will be cheap and easy too).

In order for Bitcoin price to rise, there has to be at least more than $500 million of new money to enter the eco-system, every year, just to maintain the current price.

All Bitcoin holders are essentially charged a 10% tax per year, perpetually, by the PoW mining network. How can this be sustainable?
14  Bitcoin / Bitcoin Discussion / It's about time to turn off PoW mining on: September 05, 2014, 04:33:56 PM
My reasoning:
* Each transaction in Bitcoin costs hundreds of time more than a credit card transaction to process. (currently this is subsidized by inflow of capital into the eco-system, so users haven't felt the full effect).

* Hundreds of millions of dollars are paid to mining hardware vendor and electricity company. This will continue year after year, and only will grow more and more as Bitcoin grows bigger. The Bitcoin community is being bled dry. The price action this year shows that even with massive amount of big name adoption and good news, the inflow of capital is having trouble to keep up with the insane surge of mining cost.

* There are better ways to secure the network, for example Bitshares's DPoS system or ETH's upcoming PoS system. Money is re-invested into the eco-system and community, instead of paid to hardware vendor and electric company.

15  Local / 中文 (Chinese) / 为啥中国full node这么少? on: August 08, 2014, 06:43:14 PM
美国有full node约3000
中国full node约200

16  Alternate cryptocurrencies / Mining (Altcoins) / Which one should I mine with GPU? scrypt vs scrypt-N vs X11? on: August 06, 2014, 07:41:42 PM
Which one should I mine with GPU? scrypt vs scrypt-N vs X11?
17  Economy / Speculation / My theory is proving true once again on: July 24, 2014, 01:11:33 PM
I had a theory that major retailer acceptance has a short term DOWN effect on the price. Because when a major retailer announce acceptance, old coin holders rush to spend some bitcoin to support that retailer, often creating millions of dollars of transaction volume in a few days, and all these bitcoin will be converted to fiat by the retailer, creating sell pressure, for the short term.
18  Economy / Speculation / Bitcoin has went up every single year since inception on: May 21, 2014, 08:01:28 PM
When you compare January 1st price vs Dec 31st price of every year, Bitcoin has always been going up, and most of the time significantly up.

January 1st 2010: around $0.002 per Bitcoin
December 31st 2010: around $0.80

January 1st 2011: around $0.80
December 31st 2011: around $4.70

January 1st 2012: around $5.00
December 31st 2012: around $13.25

January 1st 2013: around $13.00
December 31st 2013: around $730

January 1st 2014: around $750
December 31st 2014: ? ? ? ? ?

Do you think this year is an exception?
19  Bitcoin / Bitcoin Discussion / How much is 1 bit? on: May 20, 2014, 02:16:46 PM
I'm increasingly seeing people use the "bit" unit, how much is 1 bit? I've never seen this unit explained.
20  Local / 中文 (Chinese) / 为啥中国政府拒绝先进的理念? on: May 15, 2014, 07:58:51 PM



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