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701  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 05, 2015, 04:49:49 PM
I would say that these thefts will happen again. What we need are ATMs that are hack proof like Trezors. Bitcoin needs to focus on being an impenetrable iron vault that fits in your pocket. Only licensed brokers should be allowed to trade bitcoins on the markets although you are free to use the ATMs as a convenience.
702  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 05, 2015, 04:01:06 PM
Can we now focus on other means to trade bitcoins other than Gox model exchanges?
703  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 05, 2015, 03:33:40 PM
How will the miners dump there bitcoins now?

Miners use exchanges?
Their dark pools, anyway.
704  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 05, 2015, 03:30:10 PM
How will the miners dump there bitcoins now?
705  Bitcoin / Bitcoin Discussion / Re: Note to a community good at heart on: January 05, 2015, 01:23:15 PM
You snooze, you lose. Besides, if Satoshi Nakamoto was going to use predation metaphor, he would have included Lotka–Volterra population vectors. Silly boy.
706  Bitcoin / Project Development / Re: [ANN] the Internet of Coins on: January 05, 2015, 12:55:25 PM
OK, I'm reading the white paper. I am intrigued by this project. I envisioned a multicoin system in 2012 that arose out of the PoW vs PoS controversy.

Proof of Allocation seems to compete with Blockstream's Side Chains in resolving multichain synchronization. I do have a fundamental human rights issue with PoS and was wondering if an implementation of IoC can be structured to work purely with PoW coins?
707  Economy / Speculation / Re: Automated posting on: January 05, 2015, 12:05:00 PM
Noooiiice!
708  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: January 05, 2015, 12:01:06 PM
I'm still numb from reading the Side Chain white paper and trying to figure how they plan to wrangle their mining pools into a reliable source of metadata. I'll await details on that.
If you think Side Chains are sketchy, check out the Internet of Coins white paper.
I only glanced at it so far. First of all, why does everyone seem to think PoS is so great an incentive? Answer: Because human labor can be farmed cheaper and easier than technology. Then there's Proof of Allocation. The thing is, you have to trade something for something else.  I came up with a rudimentary (and completely ignored) idea for a multicoin system in 2012 based on Rock Paper Scissors as the analog called Proof of Merit.

I don't understand these kitchen sink mentalities. I'm starting to like Bitcoin as money more and more, because humans will always find greater levels of abstraction.

What mining pools  Huh
I presumed miners are the functionaries for the federated peg as it's not specified. After all, they have exclusive access to the block header they mine.
709  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: January 05, 2015, 11:45:19 AM
I'm still numb from reading the Side Chain white paper and trying to figure how they plan to wrangle their mining pools into a reliable source of metadata. I'll await details on that.
If you think Side Chains are sketchy, check out the Internet of Coins white paper.
I only glanced at it so far. First of all, why does everyone seem to think PoS is so great an incentive? Answer: Because human labor can be farmed cheaper and easier than technology. Then there's Proof of Allocation. The thing is, you have to trade something for something else.  I came up with a rudimentary (and completely ignored) idea for a multicoin system in 2012 based on Rock Paper Scissors as the analog called Proof of Merit.

I don't understand these kitchen sink mentalities. I'm starting to like Bitcoin as money more and more, because humans will always find greater levels of abstraction.
710  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 05, 2015, 10:49:24 AM
They need to shut down exchanges every day for maintenance and cool-down. Bitcoin would be better served.
711  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 05, 2015, 10:27:25 AM
This is why I HODL. Traderps getting Goxxed. When institutional money wants cheap bitcoins, they don't have these problems.
712  Economy / Economics / Re: The Switzerland of Bitcoin on: January 05, 2015, 09:41:40 AM
Texas
713  Economy / Speculation / Re: I AM HODLING on: January 05, 2015, 09:37:31 AM

I'm hodling too. No panic, I keep relaxing like the bears Wink

I am hodling stronger than ever... no panic either, it's always bad to panic, just hold if you are in coin and start to buy if you are in fiat, this is not a price to sell at

me I'm holding but panic'ing... ......(this whole endeavor is based on the 98% dna we share with chimps ...silly hairless funny human primates.....)

so yeah considering the company ..i'm panic'ing but holding (not much else to do .....be a mining till they be doorstops i guess)

frigging BTC soap opera it is



BitChicksHusband sold off about 25% of our holdings last month so I feel like I can no longer brag about being a hodler.  I now feel like a hodling failure.  Cry

But at least he sold some higher than today's price and we are hodling the rest.  Now is a great time to buy if anyone has the fiat to do so.

Divorce.
I think they have a 2 of 2 multisig contract. Those have to be mutual.
714  Economy / Speculation / Re: Who the hell is selling right now? on: January 05, 2015, 09:35:40 AM
This thread should be a poll.
715  Bitcoin / Bitcoin Discussion / Re: Phillipino nannies remit over $20billion yr on: January 05, 2015, 08:05:07 AM
LOL@thinking one of the poorest 3rd world southeast asian countries will adopt bitcoin, most especially elderly nannies who don't even have high school educations and don't know how to power on a computer


And this is coming from a filipino.

Outside of certain wealthy districts in Manilla...you guys are living a pipe dream.  The Phillippines and filipino people have a lot more to worry about than taking computing courses and riding a jeepney 30 minutes to a nearby internet cafe solely to jump through hurdles to download 'virtual currency.'  It's hassle enough for well versed computer nerds like myself, let alone some person living without air conditioning and sanitary water and doesn't know what a 'computer bit' is.

I'm convinced most everyone in this thread has not been to the phillippines themselves.  Then again, most of the people are on this forum are 18 years old just looking at this from a money making standpoint. 

You guys really want to be philanthropists and make a difference there? Try actually donating money to the millions of families living in wastelands without electricity in cardboard huts.
I am in Mindanao. I am trying to teach filpinos about Bitcoin, but you are right, it is hard. Most youngsters are online and there are cybercafes everywhere. There is fiber optics in most big cities. They understand the basics of Bitcoin. We need cheap, easy, and secure cold storage and hot wallets that anyone can use. We are years away from that, but it's still a good time to teach about the technology.
716  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 04, 2015, 05:05:22 PM
"Man who wants to see bottoms all the time live under bleachers." -old Chinese proverb.
717  Economy / Speculation / Re: Who the hell is selling right now? on: January 04, 2015, 04:41:59 PM
the question, the real one is who the hell is not buying?
Normal people with families. Kids go back to school tomorrow after the holiday break.
718  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: January 04, 2015, 04:10:21 PM
Bitcoin has invented the Dead Bear Bounce. We need an artist to create this phenomenon. It would be a nice 6th birthday gift.
719  Bitcoin / Development & Technical Discussion / Re: would you buy a marked quantum scifi bitcoin for above par? on: January 04, 2015, 04:06:49 PM
The sci-fi version tracks proof of work in alt-coins using any algorithm (via non-local communication and a cryptographic AI etc) but even the current bitcoin the only reason people are mining alts is because they hope to sell above par, humans can evaluate the factors [...] people are paying way over par[/b], no rational entity would put money into marked coins.

I'm starting to see your analogy, but the human elements leave me questions. I believe some people are trying to improve Bitcoin rather than steal its thunder. But most are scams, indeed.

Well indeed.  Hence sidechains, if they are trying to improve bitcoin, they can do that: improve it (on a sidechain, or timelock, multisig etc).

Quote from: outahere
Humans put great value in the extrinsic properties of Bitcoin's design besides the intrinsic properties of its function. It's not just about how many zeros were solved for.

Well I think its maybe like gold, the extrinsic properties grew out of the intrinsic properties and network effect of people using it as a commodity money.

Quote from: outahere
Then, how sure can the universal AI be that historical difficulty isn't forged fraudulently by humans in altcoins? Bitcoin's history is well documented.

(I assuming you're talking about knowing the historic difficulty so you can compare it to the right epoch of bitcoin as a benchmark).

I think maybe comparing the current difficulties and prices would be enough.  (Plus discounting for a steeper supply inflation and known premine % or other parameters that are worse).

Setting things up to detect that, it appears limited enforcebility and requires cooperation of the alt?
You could look at the blockchain of an alt and see how much work there was total, and look at its parameters, however that doesnt prove they didnt fake the whole thing to one side over the course of a month or something and give it years of fake history, some parts of which look good relative to bitcoin.  Of course unless its merge mined its total hashrate is going to typically be quite small, so that if someone had a good incentive they could've recreated it later. 

That tends to suggest that minimally you would need the blocks to be periodically timestamped in bitcoin otherwise if no one was paying attention the entire thing could've been forged more recently as hashrate is faster now than in the past.

(There's a graph somewhere I cant find right now that shows the number of days it would take to recreate bitcoin.  During the hashrate spike last year, it got as low as 50days, but in the bitcoin context its stilly really hard for that to be an attack, because bitcoin security is from there only existing one distributed supercomputer than can run at that pace, nothing else can catchup.)

Adam

Then why bother with Side Chains at all? If an altcoin has enough bitcoin timestamps, then its value is proportionate to Bitcoin's, adjusted for hashrate.
720  Economy / Speculation / Re: Who the hell is selling right now? on: January 04, 2015, 03:57:06 PM
Massive mining farms having to pay off their fiat loans, at an ever dropping conversion rate. Bitcoin started dying the day mining became centralized.
Yeah, so they wait until a holiday weekend when nobody is buying to sell. Seems legit.
They're probably pretty bewildered that their 100 million dollar farm is worth 1/5 that, one year later.

 I love cryptocurrency and the idea of a truly free market economy, however, Bitcoin is too far marred to save at this point. Most coins are not in the hands of people who would support the healthy use of them.
Well, they are as cheap now as they've been in over a year. No excuses for not having an order in at the rate you can afford. Or maybe you want some cheap Apple stock too.
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