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701  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: January 11, 2015, 06:51:32 PM
why I said "Drop the 'floating' part..."
"Floating peg" is an oxymoron.  It was intentional. Markets aren't going away. They will become decentralized, but not replaced by confederate functionaries. Altcoins will evolve into state sponsored fiat currencies while Bitcoin flourishes in free states and as a voluntary reserve currency.
702  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: January 11, 2015, 06:24:01 PM
Howabout this idea...

An asynchronous algorithm that links multiple side chains to Bitcoin in a floating peg. These side chains can offer many different capabilities that Bitcoin isn't designed for. The asynchronous protocol will protect Bitcoin should any of these side chains fail, but their success will make Bitcoin stronger and give it better scalability and liquidity. I already have much of the code for this protocol and it doesn't require any changes to Bitcoin. This protocol may have some bugs, but in time they should be worked out.
...it's called the market.

Drop the 'floating' part of the peg (usually) and it sounds like a winner to me.

Being to lazy to look up Maxwell's 2wp stuff, I did a stream of consciousness idea on one of these threads a month or two ago.  It used private keys as an intermediate currency and peg implementation between native Bitcoin and the back-end (and required no changes to core.)

By the way, if you want to know who's working on the deanonymization and economic tracking problems, mention exchanging private keys systematically and watch who shits a brick Smiley


I was making a light hearted point, but my agnosticism can be dispelled with an actual working demonstration on a test chain. I couldn't care less about deanonymization. I can barter and have made a good living at it.
703  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: January 11, 2015, 06:12:06 PM
Howabout this idea...

An asynchronous algorithm that links multiple side chains to Bitcoin in a floating peg. These side chains can offer many different capabilities that Bitcoin isn't designed for. The asynchronous protocol will protect Bitcoin should any of these side chains fail, but their success will make Bitcoin stronger and give it better scalability and liquidity. I already have much of the code for this protocol and it doesn't require any changes to Bitcoin. This protocol may have some bugs, but in time they should be worked out.
...it's called the market.

Not sure if serious....

This is precisely what sidechains are.
If you read my post carefully, we already have that solution.  Grin

Well please save us all from this debate and grace us with your solution.

On what level does your algorithm run? How do you control the peg?
Quote
...it's called the market.
I hid the answer in tiny text. Gotcha!

So you prefer off-chain schemes. Gotcha!
I'll concede there's not a damn thing anyone can do to stop them, but it's obvious to me that side chains don't solve any problem that isn't already solved.
704  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: January 11, 2015, 06:03:09 PM
Howabout this idea...

An asynchronous algorithm that links multiple side chains to Bitcoin in a floating peg. These side chains can offer many different capabilities that Bitcoin isn't designed for. The asynchronous protocol will protect Bitcoin should any of these side chains fail, but their success will make Bitcoin stronger and give it better scalability and liquidity. I already have much of the code for this protocol and it doesn't require any changes to Bitcoin. This protocol may have some bugs, but in time they should be worked out.
...it's called the market.

Not sure if serious....

This is precisely what sidechains are.
If you read my post carefully, we already have that solution.  Grin

Well please save us all from this debate and grace us with your solution.

On what level does your algorithm run? How do you control the peg?
Quote
...it's called the market.
I hid the answer in tiny text. Gotcha!
705  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 11, 2015, 05:57:29 PM
I do not like altcoins and spam.
706  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 11, 2015, 05:53:50 PM
I think the problem with the trolls here is not reading enough Dr. Seuss as children.
707  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: January 11, 2015, 05:50:30 PM
Howabout this idea...

An asynchronous algorithm that links multiple side chains to Bitcoin in a floating peg. These side chains can offer many different capabilities that Bitcoin isn't designed for. The asynchronous protocol will protect Bitcoin should any of these side chains fail, but their success will make Bitcoin stronger and give it better scalability and liquidity. I already have much of the code for this protocol and it doesn't require any changes to Bitcoin. This protocol may have some bugs, but in time they should be worked out.
...it's called the market.

Not sure if serious....

This is precisely what sidechains are.
If you read my post carefully, we already have that solution.  Grin
708  Economy / Speculation / Re: Good time to buy? on: January 11, 2015, 05:48:02 PM
$70 go in HARD, have money saved for $70.  Like it or hate it, have $ saved for $70
Post of the day.
709  Economy / Speculation / Re: Winklevoss COIN ETF to push price above 10,000 on: January 11, 2015, 05:44:03 PM
So even bitcoiners admit that it doesn't work as a currency because it's too difficult for people to trade in and out of regular fiat and storing them properly is too complex and dangerous.

So the answer is... open an ETF to allow computer illiterate people the chance to "invest" in a currency that is too complicated for them to use in the first place. Brilliant!
Both of those are due to Bitcoin being subject to a regulatory double standard in the USA. Fortunately Bitcoin is growing outside the USA. If you want to read something brilliant, try to ready Lawsky's regulation recommendations. It should have you laughing in no time.
710  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: January 11, 2015, 05:30:22 PM
Howabout this idea...

An asynchronous algorithm that links multiple side chains to Bitcoin in a floating peg. These side chains can offer many different capabilities that Bitcoin isn't designed for. The asynchronous protocol will protect Bitcoin should any of these side chains fail, but their success will make Bitcoin stronger and give it better scalability and liquidity. I already have much of the code for this protocol and it doesn't require any changes to Bitcoin. This protocol may have some bugs, but in time they should be worked out.
...it's called the market.
711  Economy / Speculation / Re: Analysis never ends on: January 11, 2015, 05:11:52 PM
It it interesting that Chinese exchanges not only broke short term support, but also (barely for now) the 6th Jan support,
which on BFX is 264$, but BFX didn't yet break it. So China leads this dump, bagholders must be getting desperate.
Their naked shorting bot didn't have a stop command.
712  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 11, 2015, 05:00:16 PM
Ultimately I think the only way to stop the constant crashing is if the international buyers find enough interest in bitcoin to buy a large chunk of the coins back from China.

That's assuming that many of the Chinese coins on exchanges are real in the first place.
+1
Have any Chinese exchanges been audited?
713  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 11, 2015, 04:43:02 PM
if somone has 120btc do you think he become ever rich?
(this is a serious question)
Most people given wealth soon end up poor. Wealth is a frame of mind.
714  Bitcoin / Bitcoin Discussion / Re: Fork off on: January 11, 2015, 04:40:55 PM
Throttling the motion of money by making it expensive to move smells authoritarian/elitist to me.

I don't know about authoritarian, but elitists, I believe that's exactly what they are. I don't even think they would object to being called elitists. Did you read Trilema? Not making any judgment here, but I believe it needs to be pointed out to understand their point of view.

Or maybe I just belong to idiots Wink
Definition of trilemma: a choice between the right way, the wrong way, and my way and always choosing my way.
715  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 11, 2015, 08:27:45 AM
Oh god. Just find some goddamn support. I been waiting for months.
The biggest obstacle is time. Still too many people think altcoins may be an answer, so they are holding off on Bitcoin. Ether pumpers got kicked in the teeth by IBM. CPY pumpers got slapped by Overstock. Merge mined parasites don't prove their mettle  Folks gotta realize that Bitcoin is the PoW the heavyweight champ that paid its dues.

What did IBM do/say about Ether? --Not that I own any at all.

I'm all BTC, Monero (XMR) and Counterparty (XCP). I think those 3 will be the most useful coins in the future.

BTC = Open P2P ledger
XMR = True anonymity digital cash
XCP = Smart contracts, digital assets etc (Built on top of bitcoin network)
Opps, I meant XCP, not CPY. Yeah, IBM's Internet of Things may use their own implementation of Ethereum, but they won't be buying Ethers. I presume they will premine their own. Here's the thing, all these open source altcoin developers are doing nothing but making tools for others to profit on. At least Overstock has the decency to hire Counterparty devs to create their own competition so they get something out of their work. XMR is a loooooooong shot.
716  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 11, 2015, 07:14:51 AM
Oh god. Just find some goddamn support. I been waiting for months.
The biggest obstacle is time. Still too many people think altcoins may be an answer, so they are holding off on Bitcoin. Ether pumpers got kicked in the teeth by IBM. CPY pumpers got slapped by Overstock. Merge mined parasites don't prove their mettle  Folks gotta realize that Bitcoin is the PoW the heavyweight champ that paid its dues.
717  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 11, 2015, 04:35:40 AM

Our own Jorge Stolfi seems pretty concerned about that investment fund for someone with only an academic interest in the subject...
He says he doesn't own bitcoins, he never said he didn't invest in them.
718  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 11, 2015, 04:31:03 AM
He's bullish. Maybe he's eating cheap coins!
719  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 11, 2015, 04:19:57 AM
My ignore list is growing fast. Over 200 so far.

Is that bullish?
It's bull-something.
720  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 11, 2015, 04:00:15 AM
My ignore list is growing fast. Over 200 so far.
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