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341  Bitcoin / Bitcoin Discussion / Re: Why One Bitcoin Core Developer Thinks Cryptocurrencies Have A Dreadful Future on: April 16, 2015, 05:06:22 AM
Readers need to remember one thing:
Peter Todd is a 30 yrs old programmer.
He lack life experience and credential to talks about other aspect of bitcoin. He should stick to the technical aspect.

That can be said about a number of devs. Some of them grow wiser, some of them become FUDsters for the press.
Why does the age matter here? It's more common for older people to stick with their beliefs, rather than accept something new. He might not have experience and thus shouldn't be predicting the future.
He shouldn't definitely be talking in a wrong way about this, because his job is to code for a cryptocurrency. The part about TBF is correct though.
What does old age have to do with beliefs? Wisdom is the perspective created by large collection of truths. Learning takes time. Life is OJT.
342  Bitcoin / Bitcoin Discussion / Re: Why One Bitcoin Core Developer Thinks Cryptocurrencies Have A Dreadful Future on: April 16, 2015, 04:52:20 AM
Readers need to remember one thing:

Peter Todd is a 30 yrs old programmer.


He lack life experience and credential to talks about other aspect of bitcoin. He should stick to the technical aspect.


That can be said about a number of devs. Some of them grow wiser, some of them become FUDsters for the press.
343  Bitcoin / Press / Re: [2015-04-15] MIT Tech Review: A New Competitor for Bitcoin on: April 16, 2015, 04:48:44 AM
If it really is better, then Bitcoin will assimilate it. Resistance is futile.
344  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: April 16, 2015, 04:21:08 AM
Quote
I think there’s a really high chance that we see a lot more government action against bitcoin, including the core protocol.

...

I keep talking to regulators at conferences who believe bitcoin simply must change to bring it in line with other payment systems; unfortunately this means adding identity information to bitcoin transactions and making it possible to blacklist funds.

I'll continue to maintain that the best defense to this is to make bitcoin as widely used worldwide directly by people as end-users with their own wallets. If everyone just holds coins or uses bitpay and coinbase, it will be much easier to push regulation into the system. If usage grows globally to be a complicated mess of direct person-to-person usages and numerous small services spread around the world, it will be very hard for a single gov to push regulation in (even for the USSA).
We should do the opposite and add more privacy features to clients.

Adding finishing touches to an improved stealth address proposal that includes useful features like being usable on mobile wallets without requiring the help of a trusted third party server to identify your incoming payments.
I fully support idea of stealth addresses but as long as we have fully centralized exchange services which requires us to deliver our full personal data if we want to sell or buy coins we won't be safe.
Government will got our info from crypto exchanges and even with the stealth address we would be fated to pay taxes in the future.

Ok, just pulled that straw fellow out of a hat I suppose.
There was nothing incriminating in that statement.
345  Economy / Speculation / Re: A Glimpse into the Future. on: April 16, 2015, 04:11:02 AM
If anything, Bitcoin will be valued in CNY, not the devalued USD.
346  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: April 16, 2015, 04:00:09 AM
Quote
I think there’s a really high chance that we see a lot more government action against bitcoin, including the core protocol.

...

I keep talking to regulators at conferences who believe bitcoin simply must change to bring it in line with other payment systems; unfortunately this means adding identity information to bitcoin transactions and making it possible to blacklist funds.

I'll continue to maintain that the best defense to this is to make bitcoin as widely used worldwide directly by people as end-users with their own wallets. If everyone just holds coins or uses bitpay and coinbase, it will be much easier to push regulation into the system. If usage grows globally to be a complicated mess of direct person-to-person usages and numerous small services spread around the world, it will be very hard for a single gov to push regulation in (even for the USSA).
We should do the opposite and add more privacy features to clients.

Adding finishing touches to an improved stealth address proposal that includes useful features like being usable on mobile wallets without requiring the help of a trusted third party server to identify your incoming payments.

Realized fiat gains are taxable about anywhere. Just saying you wish you could hide from the taxes is less noble than asking what tax haven island you can move to.
Nobody is talking about realized fiat gains. That is a strawman. Tax avoidance is not tax evasion. You are always obligated to voluntarily report your gains, of course.
347  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: April 16, 2015, 03:51:21 AM
Quote
I think there’s a really high chance that we see a lot more government action against bitcoin, including the core protocol.

...

I keep talking to regulators at conferences who believe bitcoin simply must change to bring it in line with other payment systems; unfortunately this means adding identity information to bitcoin transactions and making it possible to blacklist funds.

I'll continue to maintain that the best defense to this is to make bitcoin as widely used worldwide directly by people as end-users with their own wallets. If everyone just holds coins or uses bitpay and coinbase, it will be much easier to push regulation into the system. If usage grows globally to be a complicated mess of direct person-to-person usages and numerous small services spread around the world, it will be very hard for a single gov to push regulation in (even for the USSA).
We should do the opposite and add more privacy features to clients.

Adding finishing touches to an improved stealth address proposal that includes useful features like being usable on mobile wallets without requiring the help of a trusted third party server to identify your incoming payments.
I fully support idea of stealth addresses but as long as we have fully centralized exchange services which requires us to deliver our full personal data if we want to sell or buy coins we won't be safe.
Government will got our info from crypto exchanges and even with the stealth address we would be fated to pay taxes in the future.
It sounds like your government is your problem. That isn't everyone else's problem.
348  Bitcoin / Bitcoin Discussion / Re: Bitcoin Use In Philippines on: April 16, 2015, 03:39:11 AM
Sam Kaddoura, co-founder of bitcoin exchange, BuyBitcoin.ph, said: "Those who do not want to go through the hassle of opening bank accounts or pass the requirements for credit cards will embrace bitcoins."
But in reality opening bank account is not that hard. I imagine that exchanges want from you almost the same kind of credentials as normal banks. And on top of that if Op said that internet connection is not that common among Philippine people and they also do not own smartphones it will be a long way to follow until bitcoin could be used freely.
Text messaging is cheap and common in the Philippines. I'm sure as the market grows SMS will be used more and more. I would be surprised if there isn't an sms ready Bitcoin wallet yet.
349  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: April 16, 2015, 03:32:24 AM
Capitulation didn't happen. The market doesn't like sub 230 in a Minor Rule of Thirds cycle. We'll see Major Rule of Thirds beginning in May.
350  Other / Meta / Re: "THE LIST" on: April 16, 2015, 03:26:30 AM
I ignore stupid people because they waste our time. I rarely indulge trolls because they are not cutting me in to their shilling.
351  Other / Meta / Re: "THE LIST" on: April 16, 2015, 12:31:12 AM
.......
I have different standards than op.
352  Other / Meta / Re: "THE LIST" on: April 16, 2015, 12:09:33 AM
My list has hundreds. It includes mostly newbies that posted stupid things with condescending tones. It shows that they didn't spend 5 seconds researching anything.
353  Bitcoin / Development & Technical Discussion / Re: how will lightning users find compatible payment channels? on: April 15, 2015, 11:58:00 PM
Couldn't it just be broken up into a bunch of small transactions instead?  In the lightning network it would still get through pretty fast, and with arguably less risk (only the currently "active" small transaction is at risk of failing).  When faced with a narrow data bus, up the frequency. Smiley
That would require closing the contract and paying mining fees. If mining fees go up substantially, then you end up paying a lot more. The point of Lightning is to rarely pay mining fees.

No it wouldn't.  The whole point of a payment channel is that multiple payments can be made on it without submitting to the block chain.  The only reason to do so would be if a party is uncooperative.
I was under the impression that payments could be made with credit already nLockTimed into the system so you wouldn't need to commit more money into it than is owed to you.
354  Bitcoin / Development & Technical Discussion / Re: how will lightning users find compatible payment channels? on: April 15, 2015, 10:54:31 PM
Couldn't it just be broken up into a bunch of small transactions instead?  In the lightning network it would still get through pretty fast, and with arguably less risk (only the currently "active" small transaction is at risk of failing).  When faced with a narrow data bus, up the frequency. Smiley
That would require closing the contract and paying mining fees. If mining fees go up substantially, then you end up paying a lot more. The point of Lightning is to rarely pay mining fees.
355  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: April 15, 2015, 05:10:37 PM
A Ripple tattoo would be easier.
356  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: April 15, 2015, 04:53:07 PM
Look at what happened to bitcoin in USA since Fed/wall st. took an interest, it died.
yes, i think they are interfering in the Bitcoin price mkt thru derivatives.  but i don't think it is sustainable and they most likely will get whiplashed to the tune of millions of losses when the mkt turns up.  we all should be keeping a close eye out for the first derivatives exchange (here's looking at you BFX) that does a force majeure that forces settlement in USD as opposed to BTC from the lack of available BTC needed to be covered.

if their algos keep a continually falling lid on prices and price perceptions such that the market never "turns up" materially, funded by unlimited supplies of fiat only, then it is an effective social/economic attack that will inevitably sideline bitcoin as a useful currency. The exchanges that facilitate manipulative pricing algorithms on their platforms are accomplices in this attack on bitcoin and imho should be treated as such.

NB: this has nothing to do with my support for implementing 2-way pegs in the protocol.

except that shorting requires borrowing existing BTC on the exchange of which there is only a theoretically limited supply.  this is where naked shorting potentially enters the picture and any exchange who allows this should be black balled and reported to the authorities for illegal practices hopefully to be shut down.  but of course, getting them to do anything is another story.

and yes, i think you're allowing the bear mkt to influence your perception that Bitcoin isn't working in the US.  Bitcoin cannot not work in an isolated geographical region imo.  it will route around that area until it forces capitulation of affected area.

I've been through at least 3 bitcoin bear markets (maybe 4?) so I don't think it is doom colouring my perception. Coinbase and Circle are nothing more than revamped PayPals built on top of bitcoin, not sure that BitPay is that much better. End user solutions that maximise the decentralisation benefits of bitcoin's digital cash are not even on the drawing board in USA because of absolute obsequiousness towards the Almighty State dictat there.

Inviting regulation when there was an opportunity for gaining the moral high-ground through legitimate civilian disobedience against the prevalent government push towards ubiquitous financial surveillance is a major error and missed opportunity. The bankster attack dogs will gladly regulate (and fraudulently trade for profit) bitcoin to its obscurity, just like they have done with gold.
When you have unlimited fiat, you can afford the fiat side slippage to drive down bitcoin price. I was going to write something similar today. It doesn't take naked shorting. Someone is just burning money and buying with a little slippage rather than driving up the price a lot. Some may think this is conspiracy paparanoia, but it is a logical tactic with this new type of asset. Bitcoins can be arbitraged before markets can react if they are using payment channels.
357  Economy / Speculation / Re: rpietila Wall Observer - the Quality TA Thread ;) on: April 15, 2015, 10:38:58 AM
There will always be a new, freedom-loving frontier. It's not America anymore. It's here. It's called the internet.

Space.  The Final Frontier.
Yeah, but no decent restaurants.

Good point.  By the way, where do people think Earth is if not in space?  You will not find a better place.
Matter is mostly empty space between sub atomic particles.
358  Economy / Speculation / Re: rpietila Wall Observer - the Quality TA Thread ;) on: April 15, 2015, 09:59:02 AM
There will always be a new, freedom-loving frontier. It's not America anymore. It's here. It's called the internet.

Space.  The Final Frontier.
Yeah, but no decent restaurants.
359  Economy / Speculation / Re: Bitcoin is a game of conviction on: April 15, 2015, 09:40:29 AM
not a cult, not a cult, not a cult
It worked for Steve Jobs and Bill Gates.
360  Bitcoin / Development & Technical Discussion / how will lightning users find compatible payment channels? on: April 15, 2015, 09:33:51 AM
If larger amounts are transmitted and they want to use payment channels, but the other party doesn't have enough to credit in another channel because they already have large channels open, then how will they find channels capable of linking them? It seems like a 6 Degrees of Cheryl's Birthday problem.
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