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241
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: June 03, 2015, 06:06:06 PM
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How did this go from a gold collapsing bitcoin up thread to a poll about Gavin?
The ongoing Gavinista coup and looming Great Schism are widely considered the most serious and credible threats yet to cypher's bullish "Bitcoin UP" prediction/outlook. Is not the Chicago boys any of us have to worry about. It's the Monero boys. True. Monero solved the block size issue on day one with adaptive block sizes and costing. I'm not in favor of rushing anything and like sipa's list of todos before any increase of Bitcoin block size, but there is some urgency for that. http://sourceforge.net/p/bitcoin/mailman/message/34090896/ |
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243
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: June 02, 2015, 02:39:02 AM
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"The code is the spec."
This is the source of the problem. It was a shortcut, but one that has costs long term.
Justus is right about that.
Until the code is frozen/deprecated and we have an functional spec, we will have this quandry.
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245
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Bitcoin / Legal / Re: US Government Subpoenas Bitcointalk for PMs, Affecting 600 Users
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on: June 02, 2015, 02:33:08 AM
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Sorry to break it to you guys but they don't give a rats ass about small time scammers. My guess is that they are looking for whales who are holding large sums of coins. That is just my guess, but they care more about getting their slice of the pie than catching petty crooks.
You won't know why they are interested in you until long after they are interested. There is no visibility on the surveillance or enforcement efforts for obvious reasons. |
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246
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: June 02, 2015, 02:11:49 AM
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Would you be able to expand on this?
Essentially, what characteristic is it that you are able to identify to determine if some humans are not influenced by money, and where do you see this?
I was just remarking offhandedly that I seem to have an unusual ability to read people, though it's only in *some* ways and in some quite limited types of situations. I don't think they are bad people or have any ill will. In my experience, over time, people tend to do what they are paid to do. I agree that their loyalty is to Bitcoin, however I do see this as a conflict of interest. The block size debate is one of the pain points where these interest are not aligned at all. I think that they want to do the right thing, both for themselves and for Bitcoin. If Bitcoin fails, Blockstream also has problems, but if there are small blocks, there is a greater need for Blockstream's side chains to ease that problem. It would be a somewhat more serious conflict of interest if say Western Union were the VC funding for Blockstream or something like that. So it is not a "major" problem, but it is a problem. |
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247
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: June 02, 2015, 12:12:53 AM
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I think this is pretty decent good-faith attempt at mitigating financial influence, even though it's impossible to do that completely: We tried to do a number of things to backup the "cant be evil" mantra. That's why /u/pwuille and /u/nullc have contract clauses allowing them to resign if they view blockstream is doing something they disapprove of in connection with bitcoins interests and ethos and have blockstream pay their salary for a year to work on bitcoin (independently or under some foundation as they prefer). Personally I don't think either Adam or Greg are being influenced by the Blockstream entanglement yet, but in the future it is a danger. I think they simply formed Blockstream because of their scaling concerns, not the other way around - as their prior records show. I have a pretty good shill detector, and it was going crazy when I first heard about Open Coin / Ripple Labs  Would you be able to expand on this? Essentially, what characteristic is it that you are able to identify to determine if some humans are not influenced by money, and where do you see this? Or are you simply saying that the conflict of interests is not sufficiently large to matter to you, not that it doesn't exist? |
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248
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: May 29, 2015, 11:33:10 PM
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there's a real danger here that if the other 1MB core devs don't get off their asses and help out Gavin & Mike, their roles as core devs could be relegated to the dustbin of history. this is a great chance for those talented devs who have felt rejected or humiliated from the likes of current core devs to get their foot in the door. we clearly know they exist and in great #'s. core dev is a highly coveted position leading to all sorts of great opportunities as the Blockstream core dev's refusal to step down in the name of conflict of interest very well demonstrates. from Mike Hearns on Reddit: [–]mike_hearn 70 points 7 hours ago Short of some last minute change of heart by Wladimir and the other committers, it looks like Bitcoin XT may soon become more important. I am looking for someone to help develop a website and logo for it. If you're interested please hop onto the mailing list and let me know: https://groups.google.com/forum/#!forum/bitcoin-xt Or you can just email me: hearn@vinumeris.comIf things go ahead and running XT becomes the way to express an opt-in to larger blocks, I will also be looking for volunteers to help co-build the binaries with gitian. Finally I am looking for anyone who has experience with managing patchsets in git. My current workflow of one-branch-per-feature plus one-branch-per-release is fiddly and fragile. I plan to reorganise things at some point. Suggestions for better approaches are welcome. If they are going to take this step anyway, they should dump all Bitcoin Core's technical debt by switching to btcsuite as their reference implementation. I like the freedom and choice, and the commitment to their best work such that they will endeavor to express it independently. If only all of this were better communicated. Without snarkiness, without ultimatums. |
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249
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: May 28, 2015, 11:48:56 AM
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Veritaseum uses only bitcoin, and subsists completely on the bitcoin blockchain. It is the only bitcoin wallet system that can trade simple and complex value structures without using non-bitcoin tokens, alt coins, sidechains or alternative blockchains. It can trade the value of over 45,000 tickers in all asset classes, from major exchanges from all around the world. At it’s essence, Veritaseum is a hyper-intelligent Bitcoin wallet “system” that is able to create and interpret smart contracts through the blockchain. It coordinates with an Oracle to gain access to conventional, physical and legacy financial data and information and uses it to price, value, trade and settle OTC, P2P financial instruments - all in BTC. The Veritaseum platform, using nothing but pure bitcoin with no tokens or alternative internal currencies, moves the value of all that he mentioned plus much more (over 45k tickers), with absolutely no counterparty risk on a fully autonomous basis using smart contracts based solely on bitcoin script It might be worth pointing out in these two posts. Post 1 - it uses an Oracle Post 2 - claims no counterparty risk. A trusted oracle is a 3rd party. Is this not a form of counterparty risk? |
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250
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: May 28, 2015, 11:41:34 AM
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Gresham's Law
It says that bad money drives good money out-of-circulation. You are advocating we drive BTC out-of-circulation and make it another gold. And inferior form of gold because it has third party risk. Crypto-currency's strength was never to be an inexorable store-of-value (Satoshi did hook the goldbugs with his mention of inflationless future). It was always about a (speculation on the) synergy of decentralization and commerce being uninhibited (permission-less) and thus freed to grow faster. I want to fulfill that goal. Bitcoin is about fulfilling the NWO goal (or as you wish dying on the vine as some bastardized gold so you can assert your early adopter ego). Edit: I am not visualizing Bitcoin as the one-world reserve currency, which will rather be a political power sharing compromise amongst nations with a monetary reset. I see Bitcoin being used to spread digital currency to the masses and force traditional banking and governments into electronic currency (which coincides with the War on Cash). Bitcoin is a clever Trojan horse created and planted by the DEEP STATE to force the move away from cash. They planned this out well. I am impressed.Great post, until the last three sentences. Those are speculation. |
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251
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Alternate cryptocurrencies / Altcoin Discussion / Re: Crypto Kingdom - 1991 Retro Virtual World(City)
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on: May 27, 2015, 01:42:36 PM
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This news is just as deeply appreciated as its content is fully expected. HM has at once both presaged the things to come as well as accurately telegraphed expectations thus far. It is with gratitude that this notice is received, for the tireless work and heroic efforts by those gathered at the summit.
We are not frustrated by anticipation, we are not suffering for hope, we are not upset by our eagerness.
We prepare, knowing only that we can never be fully prepared for what is to come.
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253
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Other / Off-topic / Re: Fun facts
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on: May 26, 2015, 05:48:45 PM
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here is another one did u know that u are born with 300 bones, but later, when u become an adult, u will only have 206  But where do remaining 94 go? They go in the closet. or The skull bones (presumably others also) fuse together. You decide! |
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256
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Bitcoin / Legal / Re: Is Bitcoin Legal?
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on: May 21, 2015, 01:49:28 PM
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Who cares if its legal or illegal?? Whose gonna keep watch on it?? Everyday large number of bitcoins are bought and sold who is gonna keep watch on it?? People are using and will continue to use it even the Government oppose it. So discussion on this topic is useless.
It is less difficult to watch than you imagine. |
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257
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: May 21, 2015, 01:44:58 PM
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As a guy that's been mining for a few years now, I can get behind the idea of mining space heaters. I even wanted to place a small mining farm in the furnace room and then control the vents with individual thermostats to distribute the heat, dumping excess heat as needed.
But mining on a phone, it's just not reasonable. You could put the same chip on a USB stick and it would perform better.
Serious mining makes for some serious heat. If I'm 21 the household heating market is where I would target.
Water heating, Electric blankets, some cooking, pool heating, greenhouses maybe, |
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258
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: May 21, 2015, 04:39:45 AM
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...
21's plan, as stated, is pure bullshit. The only question is whether they know it or not.
Let's do an order-of-magnitude calculation… An article from Life Hacker reports that it costs about $0.50 to keep your phone charged-up for a year:  ... ~= $107,000,000 per year This means that the expected revenue is not insignificant. ...and this analysis is only considering phones rather than all the other devices that could also be set up with this. The > 43% of hashpower centralized in a single entity might concern folks. |
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259
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: May 19, 2015, 02:44:53 AM
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Do individuals have the freedom to refuse coins with taint that they do not like? Politicians have certain restraints, and perhaps some religious people might not want to associate themselves with money from some sources? The public block chain ledger offers new ways to organize this use of money that was previously not so possible to authoritatively accomplish. Is it a better money for this reason? The reason is that coins are always blacklisted in retrospect. By the time the coins are blacklisted, taint will have already diffused across previously-white coins. If these coins are suddenly un-spendable, then the currency system is pretty useless.
exactly right. also, think about the edge case where an attacker decides to send blacklisted coins to every known address in the system. are all the UTXO's in those addresses now tainted? given my emphasis on UTXO's being the more valid way to conceptualize this topic, blacklisting addresses doesn't even make sense. |
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260
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: May 19, 2015, 02:40:15 AM
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Who would have thought BofA would recommend gold? The summer months offer a lose-lose proposition for risk assets: either the macro improves and the Fed gets to hike, which will at least temporarily cause volatility; or more ominously for consensus positioning, the macro does not recover, in which case EPS downgrades drag risk-assets lower. http://finance.yahoo.com/news/bank-america-markets-twilight-zone-123352515.html?soc_src=mail&soc_trk=maIn a note sent out this morning, Bank of America Merrill Lynch has a warning for investors: Investors remain trapped in “The Twilight Zone”, the transition period between the end of QE and the first rate hike by the Fed, the start of policy normalization... until (a) the US economy is unambiguously robust enough to allow the Fed to hike and (b) the Fed’s exit from zero rates is seen not to cause either a market or macro shock (as it infamously did in 1936-7), the investment backdrop will likely continue to be cursed by mediocre returns, volatile trading rotation, correlation breakdowns and flash crashes. For this reason we continue to advocate higher than normal levels of cash, adding gold and owning volatility in mid 2015. Given extremities of liquidity, profits, technological disruption, regulation, income inequality… potential for a cleansing drop in asset prices cannot be dismissed . Most likely catalysts: Consumer, Rates, A-shares, Speculation, High Yield. |
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