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1  Economy / Speculation / WARNING: This bubble canNOT continue. Brace yourselves for a correction. on: October 03, 2014, 09:03:36 PM
In the upwards direction.

Give me seven reasons why a dramatic rise leads to a downward correction, but a dramatic drop can't?

Don't be so naive.
2  Other / Off-topic / Better than gold! on: October 02, 2014, 11:10:22 PM
So Bitcoin can be used to distribute assets (e.g.

Up till now we have thought about gold as the scarce material that has ideal properties.

I have had a better idea. That you could distribute a share of your own blood.

The supply is inflationary as you are generating more blood each day, this can be extracted and put into cold storage.

Fractional reserve becomes deadly. If you start to issue more blood than you have, the entire cold storage will be used up and you will have to extract from your body until you run dry.

3  Bitcoin / Development & Technical Discussion / Bitcoin v1 questions on: September 25, 2014, 10:32:19 PM
With 0.9.3 on the horizon it doesn't seem like v1 is that far off. Probably safe to say that it will come out within the next 2 years.

My questions regarding v1 are as follows:

  • Will v1 only be released when Bitcoin is considered "out of beta"? Or will it continue to be beta software?
  • Will there be a major graphical overhaul of qt?
  • Does release of v1 "depend" on any features being implemented? e.g. pruning, invertible bloom lookup, etc..
  • Devs are wary of implementing major changes due to the high risk, but will more risks be taken before v1 as it could be higher risk to wait until after we are over the barrier...?

Feel free to add more questions...
4  Bitcoin / Mining / Mining pool political parties? on: September 22, 2014, 10:00:48 PM
Curious if the separation of pools into political parties has started yet?

It's a win/win since the cut the pool takes is a way of funding the party you believe in, taking the blockchain in the direction you want.

The Bitcoin community has already fragmented into the anarchists seeking pure anonymity and the entrepreneurs seeking legitimacy through regulation.

Both sides could fund their operations with mining pools. Once the next halving hits I expect this to become the norm since the financial incentive will be reduced yet these people still have a desire to control the future of Bitcoin.
5  Economy / Speculation / I found the chart that we should be looking at on: September 11, 2014, 09:04:43 PM

The movement of old coins is slowing down which indicates that the market will soon shift in favour of the bulls.

Get ready.
6  Bitcoin / Bitcoin Discussion / Make the braintree pledge on: September 10, 2014, 08:13:59 PM
Braintree is obviously Paypals first dip into Bitcoin. Whatever the result of this experiment will be for them will have far reaching consequences for the future of Bitcoin. Best case scenario is that it gets adopted into ebay an then other big sites follow suit.

I propose that we pledge an amount of BTC to spend at Braintree sites in Bitcoin. That could be 5% of your holdings on Airbnb, 1% on Uber etc.

Brothers of Bitcoin. Take the pledge with me:

- I pledge to spend 5% of my BTC on Braintree client sites, in particular uber, hotel tonight, and open table.
7  Economy / Speculation / Let's all take a moment to thank Apple on: September 09, 2014, 09:12:16 PM
Thank you Apple for investing lots of money into the infrastructure to enable mobile payments.

And thank you for getting people used to the idea of paying with your mobile phone.

Also, thank you for negotiating contracts with visa, mastercard, american express. As usual you really are the master negotiator, well done.

Now google, paypal, everybody in the online payment scene is going to be worrying what the fuck can they do to compete.

Well I think we all know what can compete don't we... think about how every time you use apple pay somebody (most likely the merchant) has to pay both VISA/Mastercard/AE and now Apple as well...

Think about those credit card fees you get when buying abroad, do you really think those will magically dissapear when you use apple pay? No way.

Apple has done what they do best. They have made a really great user experience, and an app that is easy to use. And they have the mass appeal to get lots of users.

BUT, at the end of the day it's still a credit card, albeit a much more convenient one in app form.

All of the fundamentals of Bitcoin stand strong on this one and Apple is laying the foundations for us so that mobile payments take off.

As a side note... great you can pay for mcdonalds with apple pay. But what about the smaller independent stores...? They know they need to accept mobile payments, but are they going to want to pay extortionate fees, or are they going to look to the better alternative of Bitcoin?

I think we all know the answer. Smiley
8  Bitcoin / Bitcoin Discussion / What will be covered more in the coming week? Paypal integration or Satoshi? on: September 09, 2014, 06:45:20 AM
Brace yourselves for a huge wave of media attention.
9  Economy / Speculation / The next bubble will be sooner and bigger than you think on: September 06, 2014, 09:40:06 PM
Get ready gentlemen.
10  Bitcoin / Development & Technical Discussion / Destroying Bitcoin with magnet links? on: November 18, 2013, 03:47:24 PM
I know stunts have already been performed with embedding dubious stuff into the block chain.

But, given how companies like RIAA, MPAA, etc, seem to be able to command ISPs..

What if somebody starts embedding magnet links in the block chain? and what if a client is released that can be used to extract those links?

Now all miners are distributors of pirate content (according to the archaic laws of these corporations)

If that happens then the powers that be will consider the Bitcoin network a threat and try to stamp it out. First the bitcoin site would be blocked, then DMCA takedown notices and threats would go out to anybody that dares distribute a client or miner. ISP level filters may even be put in place to cull the plague.
11  Bitcoin / Development & Technical Discussion / Hacking the fork on: May 14, 2013, 08:11:57 PM
First, read this

What are your thoughts on executing a variation of this attack while the fork is in progress?

Screw up the time, screw up the fork.
12  Economy / Speculation / Reddit subscriber growth on: May 13, 2013, 04:08:23 PM
When the price was going up people were loving this chart.

Now it tells a different story. Growth is slowing which was to be expected, but if you have even a basic grasp of complexity theory you will know that this is very bad news. As a system grows it requires more energy, if that energy is not provided the system will fail.

The closer to the top we get, the higher the risk (that is not speculation it is a fact).

After some volatility the next stable level will be around $50 (that IS speculation).
13  Economy / Speculation / 17th May 2013 on: April 26, 2013, 05:33:28 PM
This thread is reserved for discussion of the events that will unfold on 17th May 2013.

See you then.
14  Other / Off-topic / Chicken and egg hash on: April 22, 2013, 10:55:56 AM
Bit of a strange question but it may be semi-relevant to this forum.

Let's say I want to create a program. This program will work out the SHA-256 hash of itself and use the hash to check it's own validity.

In order to do this you will need to know the hash of the code before the code has been written, so how would you do it?

(almost) impossible?
15  Economy / Speculation / Your mistake on: April 16, 2013, 03:44:39 PM
You knew that the price would rise after the weekend, so you made sure to get your buy in before it was over.

What you failed to consider is the fact that everybody else was thinking the same thing.
16  Economy / Goods / Any authentic luxury goods stores accepting Bitcoin? on: April 16, 2013, 11:14:44 AM
Are there any Bitcoin accepting stores that sell authentic luxury goods.

The kinds of things I am talking about include: Chanel, Gucci, Louis Vuitton, Burberry, Jimmy Choo, etc.

Main issue I see with this is the high likelyhood of fakes, even if high quality I'm only after the real deal.

17  Economy / Speculation / The single digits believers thread on: April 13, 2013, 11:08:40 AM
This thread is only for those that genuinely believe that Bitcoin will hit single digits again at some point in the future.

Short term or long term, it doesn't matter. Get your predictions in here.

I'll start: If people genuinely believe Bitcoin is going to reach $1mil/BTC then it is statistically almost 100% likely that we would hit single digits. The current high is $266, that's only $256 away from singles. $1mil is $999,734 away. Bitcoin has already proven that it works in hype cycles, it makes sense that once a big enough bubble comes along where $1k+ moves in 1 day are the norm we would very likely hit rock bottom. This concept applies no matter where you place the ultimate value of Bitcoin, single digits are an inevitability.
18  Economy / Speculation / How does it feel to have bought bitcoins over $80 earlier? on: April 12, 2013, 11:23:41 AM
No, I'm not serious.

Stop these stupid threads.

Just read these:

These are from TWO DAYS AGO.

I was pumped when I got more yesterday at under $200... I was waiting for my bank transfer to go through, worried I'd miss my chance, but it got there just in time.
Every day is an all time high now. There's no turning back.


this is just the beginning of the bubble, wait for the mainstream to get in.

How's that going for you, buddy?

i doubt it will ever go below 100 dollar again.

Wow, you are clever.

No one wants to hear this but there are structural differences between the dot coms and housing market and a commodity speculation like bitcoin. Dot coms and housing are forced into 0 valuation by bankruptcies and mortgagor defaults. When a company or a homeonwer run out of money, it has a real negative effect on the security backing them. Investors had no choice but to revalue to lower or even 0 their stocks and MBS. In the case of bitcoin, as in the case of gold, nothing forces the value to 0. This means that it can bubble to a ridiculous price and then just taper off and hold for years because people are not forced into a capitulation. Then demand catches up and it starts to rise again.
This is why it is super risky to short commodities even if they are in an obvious bubble. The market can remain irrational longer than you can remain solvent.

That one is my personal favorite. A+ for effort.
19  Economy / Speculation / What would have happened if coinlab were here? on: April 12, 2013, 08:55:33 AM
Coinlab was supposed to be here weeks ago.

Their mission was to make it easier for US customers to buy, and to provide really great customer support.

Basically EVERYTHING that went wrong over the last 3 days is something that they were supposed to assist with.

So far their customer support skills have been even worse than Gox. Their whole business model now is basically a desperate scramble to make ends meet after they got VC funding and their first idea fell flat on the ground.

Makes you wonder doesn't it?

I'm sure they will be back in a few months to hype up a new cutting edge platform that will never be delivered.
20  Economy / Speculation / Taking bets, when Gox comes back up, will it lag? on: April 11, 2013, 11:40:30 PM
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