|
2621
|
Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
|
on: September 28, 2014, 01:54:58 PM
|
I am starting to be absolutely POSITIVE that some people in this forum, especially in this thread, are government (and/or bank employees). They manipulate this thread, calling the crash "cheap coins", and so on, when they know exactly that NO MARKET CAN RAISE indefinitely.
So every crash, might be the last one. Every crash might be the end of the bitcoin, and the proof for this is that all of you see that after EVERY drop, price is raising back HARDER and HARDER (usually to a smaller value than it was before the crash started). Speculators, who are buying coins and then they sell immediately expecting a few dollars margin, are happy with this situation; governments and banks are very happy also, but people who see (or who have seen) Bitcoin as a new "era" or a long term investment will be totally screwed.
Another proof: remember how actively governments were fighting Bitcoin? Now they don't. You know why? Because they realized that it's absolutely no danger in it for their systems. They could bring down the price to absolute 0 with a few million of USD (or less) ANYTIME they want. Walls or no walls, people are already not buying Bitcoins, because it become clear for everybody that one of the crashes will not be followed by a next bubble: and then it's over.
If the price will not start to raise, and I mean REALLY raise, and REALLY soon, then it's game over. Just think about that.
No amount of USD can take down bitcoin to 0. You need bitcoins for that. Yes, that's true.... but take into consideration that there are mining costs involved, so pushing the price below them (very much looks that this has started now, and nobody is willing to put his money on the table to reverse the trend), will mean that mining operation will shut down... maybe not all, but probably enough to make Bitcoin super slow, super useless. And that will make it worth 0. They turn off the miners and use the electric bill money to buy instead. They're in the Bitcoin business, mining is just a tool. That pressure will keep the price up. |
|
|
|
|
2626
|
Alternate cryptocurrencies / Altcoin Discussion / Re: Is Monero taking over the alternate section? #3 Crypto in weeks?
|
on: September 28, 2014, 02:57:12 AM
|
Hurr durr you can't change the laws of physics durr hurr.
The laws of physics change may or may not change depending on cosmological factors we are only beginning to observe (EG fine-structure constant). More importantly, our understanding of those laws change continually and sometimes rapidly as they evolve in punctuated equilibria. Source: http://en.wikipedia.org/wiki/Scientific_revolutionWe don't have a grand unified theory, so the laws have to change if we are to accommodate one. Did you sleep through the Copernican Revolution? Where you out sick for the Bohr–Einstein debates? Please fuck off with your smug absolutist Debbie Downer negativity. Innovation will proceed, regardless of your pitiable lack of imagination and optimism. Put away your Magic the Gathering cards, Mr. Wizard. |
|
|
|
|
2627
|
Alternate cryptocurrencies / Altcoin Discussion / Re: Is Monero taking over the alternate section? #3 Crypto in weeks?
|
on: September 27, 2014, 06:03:22 PM
|
It appears it protocol may be evolving into something more like Zerocoin.
Can you provide more detail on why you think this? I am not a dev, but well written white papers are supposed to summarize the disposition. My take is from the language used regarding goals and intentions of each project. Cryptonote started with a Project manager over it's ring signatures and now uses an oracle. I'm not sure how they will handle bloating. Cryptonote claims to be no longer competing with Bitcoin and wants to work in parallel just as zerocoin does as well. This is a reasonable approach with an unproven technology. But Cryptonote seems to be testing the waters with altcoins. This probably isn't going to help them. Both are a work in progress and the winners will be the ones that integrate with Bitcoin. Zerocoin seems to have the edge so far. |
|
|
|
|
2629
|
Bitcoin / Bitcoin Discussion / Re: It's about time to turn off PoW mining
|
on: September 27, 2014, 03:54:51 PM
|
Nxt disallows block-chain re-organisations past 720 blocks, so you have to mount your attack within 12 hours of selling your coins. Selling 51% of NXT, or even 20% of NXT, within a 12-hour window would crash the price. You'd lose a fortune. This is not a cheap attack.
One could always negotiate a wholesale price with multiple private parties to sell off the Nxt without touching any exchange and crashing the market. These private parties would be ignorant to the fact that this offer was being made to many other members because the purchasing party would want to keep secret the wholesale purchase as to not draw attention to a possible large sale and thus instigators other traders to sell as well before they have a chance to do so. ok you go and try and find private buyers of millions of dollars of a coin in less than 12hours.. Good luck with that.. You couldn't even sell 2m worth in 12 hours.. Probably not even 1m or even 500k dollars worth.. Your being out right stupid and picking at straws.. If you think what you just posted is possible in 12 hours then you are an idiot It would be easy enough for an exchange to arrange dark pools. |
|
|
|
|
2630
|
Bitcoin / Press / Re: [2014-09-18] Bitcoin Core Developer Jeff Garzik Believes NXT is a “Scamcoin”
|
on: September 27, 2014, 01:01:15 PM
|
On the contrary, it's hard to convince people that Bitcoin is decentralized now after Ghash owned 51%-53% of its hashrate back in June, and probably continues to own half or more of its hashrate now disguised at other mining addresses, or do you think they switched off part of their equipment and decided they should lose on their investment? Think again.
You don't seem to understand how mining pools operate. It's possible the 51% was a statistical artifact. You also seem to think that people have expensive capital intentionally sitting idle. That may work for paper investments, but Bitcoiners work for a living. If GHash.io is indeed a super miner, then they deserve the profits they make while the rest of the world drools over their hyperinflating paper notes. Hashrate is growing exponentially. Bitcoin is becoming competitive and you ain't seen nothing yet. |
|
|
|
|
2632
|
Economy / Economics / Re: Estimating the energy/power consumption of the Bitcoin Network
|
on: September 27, 2014, 04:53:28 AM
|
Bitcoin will incentivize clean, renewable energy development. Bitcoin will incentivize higher efficiency electronic development. It will create jobs, clean the environment, and save all the babies, puppies, and rainbows!
The cheapest energy is what? Coal? Heck, I want to invest in relocating a large bc mining operation to the Alaska north slope to facilitate cooling, right next to a large coal fired power plant! Heck, I will even supply a free coffee barista 24/7 for all employees! All energy sources have their benefits and drawbacks, just like everything else in nature. Your solution is interesting. I would prefer geothermal in Siberia or Iceland. |
|
|
|
|
2634
|
Alternate cryptocurrencies / Altcoin Discussion / Re: Is Monero taking over the alternate section? #3 Crypto in weeks?
|
on: September 27, 2014, 04:28:14 AM
|
This looks more and more like Quarkcoin.
except its called Monero. What a dumb name. It sounds like an underpowered sedan driven by senior citizens. I wouldn't focus that much on the name, although I consider in class with Litecoin branding name. What I would focus on is CryptoNote, do some research about it. "Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips." ^ The statement here I consider in line with Monero and especially the CryptoNote protocol. Anonymity is a wild goose chase. All electrical and broadcast communications are traceable. You can't change the laws of physics. Zerocoin sacrifices speed for additional layers of obfuscation. It will never be perfect anonymity, but it will be pretty good. Cryptonote started off sacrificing trustlessness for privacy. It appears it protocol may be evolving into something more like Zerocoin. The CryptoNote 2.0 whitepaper's criticisms of Bitcoin are wishy-washy. The author wants to fix problems that don't exist. It creates a laundry list of things that are already planned improvements of Bitcoin. It's great to test these ideas, but not to promote them as an investment. |
|
|
|
|
2635
|
Other / Archival / Re: delete
|
on: September 27, 2014, 03:15:00 AM
|
Laws are to enslave you. They are not your friend. You filipinos think we have better organization and better quality lives. So you want to be just like us. You don't know we are already slaves? We work for 9 months every year just to pay our taxes. Then we work the other 3 months just to pay for all the inflated prices. And we have left over, in many cases women who hate men and don't fall deeply in love. Welcome to the lie of feminism (note the women are not contented either and this is confirmed by studies). Luckily we have our Starbucks and other addictions to keep us numb so we won't realize how much we've lost.
Philippines has a unique cultural soul. Yes they are Westernizing, but tradition is fighting back. They may pass questionable laws, but lawmakers still care about their constituents. It's not like the Beltway where nothing else exists. |
|
|
|
|
2637
|
Bitcoin / Press / Re: Jeff Garzik is a “Scamcoin”
|
on: September 27, 2014, 02:02:14 AM
|
The scientific method is a pretty good system. Google it.
As a neuroscience graduate student I am well aware of this. But who implements the scientific method? Is it a robot, a cyborg, or a human? Yes that's a rhetorical question. I've tapped out so I will not be responding. Sleep is yet another weakness of mere humans. That is why we work together as a collective. We've developed pretty good workarounds for our weaknesses. |
|
|
|
|
2638
|
Bitcoin / Press / Re: Jeff Garzik is a “Scamcoin”
|
on: September 27, 2014, 01:54:32 AM
|
anyone can make a change to the core of nxt and release their version no different to bitcoin. it is down to the users to decide which version they would prefer to use and thus the users come to consensus on which update to use. this is in no ways different to how bitcoin is done.
This is a good thing. The centralized nature of NXT will make it a good candidate as local fiat currency or corporate gift certificates. |
|
|
|
|
2639
|
Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
|
on: September 27, 2014, 01:47:21 AM
|
Maybe it is time to pray everyone.  I seriously was praying that if there was anyone purposefully manipulating Bitcoin that they would stop. Perhaps I should now pray that they just manipulate it the other direction? I think that will be my prayer now! I have a noble cause for wanting the price to go up. I am leaving for a mission trip in six weeks and we could use some more funds for a few things we want to do (medical camps, gifts for the elderly homes etc. . .) Although God can provide in ways other than pumping up the Bitcoin price, it would certainly be an easy way to get the much needed funds at this point.  I too have a noble cause... I want a Ferrari and a helicopter, or do you want me to take the bus everyday like now? No way! So, oh Mercury the almighty, indicate me the direction and I will follow it and sacrifice 10 puffy lambs in your blessed name. Amen. Budha doesn't like it when you refer to him by his Roman name. http://en.wikipedia.org/wiki/BudhaSiddhartha drove a Mercury? Cool. |
|
|
|
|
2640
|
Bitcoin / Press / Re: Jeff Garzik is a “Scamcoin”
|
on: September 27, 2014, 01:42:20 AM
|
Bitcoin core is updated through the scientific method of peer review.
By a human being, correct? A human being, susceptible to subconscious bias and error. The scientific method is a pretty good system. Google it. |
|
|
|
|
Show Posts
