|
81
|
Economy / Economics / Re: If Greece defaults
|
on: July 10, 2015, 07:05:09 PM
|
|
Looks like tomorrow is it! The plan either works of Greece is out of the Eurozone. If they get kicked, they are going back to worthless Drachma. It will be the best chance Bitcoin has ever had to get a foot in the door and grab some business from the Drachma.
|
|
|
|
|
82
|
Economy / Economics / Re: If Greece defaults
|
on: July 06, 2015, 08:55:52 AM
|
|
This is going to go even more crazy very soon.
The Greek's have to pay the following now:
Treasury bill holders July 10, 2015 €2,000,000,000 Short-term treasury bills
IMF July 13, 2015 €455,803,443 Loan under the IMF's first bailout program for Greece, in 2010.*
Treasury bill holders July 17, 2015 €1,000,000,000 Short-term treasury bills
ECB July 20, 2015 €2,095,880,000 Bonds held by ECB exempted from the 2012 default
ECB July 20, 2015 €1,360,500,000 Bonds held by national central banks exempted from the 2012 default
EIB July 20, 2015 €25,000,000 Bonds held by the European Investment Bank; exempted from the 2012 default
In July ALONE, this month, more than FIVE BILLION EURO needs to be repaid to different institutions. One of which is IMF again that they already defaulted on. Basically on the 20th this month (July), the amount to pay back is huge, and affects everything from ECB to bond holders at the EIB. Two more weeks to find a resolution or we will see a systematic default compounding.
|
|
|
|
|
83
|
Economy / Economics / Re: If Greece defaults
|
on: June 30, 2015, 10:29:27 PM
|
|
It is OVER! First country in the western world to ever fail to pay the IMF. Historical bust, bigger than Lehman Brothers for certain. This is it, game OVER.
|
|
|
|
|
84
|
Bitcoin / Bitcoin Discussion / Re: Gregory Maxwell threatens to sell his bitcoins and find other things to work on
|
on: June 30, 2015, 12:19:08 PM
|
I think I found a perfect metaphor:
--
Imagine you're running a marathon and somebody passes you by.
Instead of running harder, you just drop to the ground and start crying:
"This is unfair! I will not be participating in this marathon anymore, because if it requires constant running then it's already a failure."
--
Do you see now how ridiculous your rant sounds?
That is a very very wrong metaphor. It would be more like: You prove via carbon dating that dinosaurs roamed the planet 65+ million of years ago. Then someone comes and puts it in the mind of people that dinosaurs used to roam the planet together with humans 8000 years ago. The mayority then decides to believe in the dino + human coexisting theory as it is to difficult for people to wrap their mind along a more complex scientific explanation. Personally I would rather take a bullet than living in a world as described above. And this world that is right now being forced down upon us is called XT and it is better because it is bigger....yeah.... |
|
|
|
|
85
|
Economy / Economics / Re: If Greece defaults
|
on: June 28, 2015, 07:19:50 PM
|
|
Greeks will be restricted to taking out just €60 per day for the next week, and that banks won’t reopen until July 7 -- two days after the referendum has been held.
|
|
|
|
|
86
|
Economy / Economics / Re: If Greece defaults
|
on: June 27, 2015, 12:11:30 AM
|
|
It is actually game over!
The Greek government earlier rejected the proposals, aimed at avoiding the country defaulting on its debt.
Greece has to make a €1.5bn ($1.7bn; £1.06bn) IMF debt repayment on 30 June.
In the speech, Mr Tsipras said: "These proposals, which clearly violate the European rules and the basic rights to work, equality and dignity show that the purpose of some of the partners and institutions was not a viable agreement for all parties, but possibly the humiliation of an entire people."
|
|
|
|
|
87
|
Economy / Economics / Re: If Greece defaults
|
on: June 24, 2015, 01:32:43 PM
|
|
Latest:
Tsipras wants to avoid spending cuts
IMF wants spending cuts or debt relief
Merkel wants to avoid debt relief
We are getting further and further apart. Another set of talks are breaking down it seems. 6 days left!
|
|
|
|
|
88
|
Economy / Economics / Re: If Greece defaults
|
on: June 22, 2015, 12:35:24 PM
|
|
Eurogroup meeting is over
The eurogroup meeting has ended, after barely an hour.
That strongly suggests that very little progress has been made on the latest Greek proposals; and that means EU leaders won’t be in a position to sign off a deal at tonight’s summit.
Another nail to the coffin of Greece. This just happened 3 min ago.
|
|
|
|
|
90
|
Economy / Economics / Re: If Greece defaults
|
on: June 17, 2015, 10:59:13 AM
|
Its getting close now. Talks are breaking down at every meeting. The last breakdown was between finance ministers last Sunday. Apparently the "final chance" is going to be tomorrow (from the writing of this post), when finance ministers will once again meet. At the same time, two payments are missed this month, with a third coming up in 2 days. And some more news hitting the Guardian as we speak: http://www.theguardian.com/business/live/2015/jun/17/greek-crisis-austria-default-ecb-banks-liveAll while Bitcoin has gone up 10% the past 3 days. If they bust, prepare to see a complete and utter loss in the confidence of the fiat/bank sector once again. If it gets bigger than Lehman, Bitcoin will be poised to grab a big chunk of the markets. In desperate times, people will always resort to alternative methods. |
|
|
|
|
94
|
Bitcoin / Bitcoin Discussion / Re: The question Gavin and Hearn cannot answer
|
on: May 31, 2015, 04:09:21 PM
|
that logic in the OP; I'm speechless.
So you're saying, because 20mb might not be enough in the future, 1mb is enough forever? Totally makes sense. They need to create a nobel prize for logic and give it to you.
That is not what I said, stop twisting my words! I said that 20MB is not enough anyway, thus this is NOT a solution, thus moving ahead with the increase breaks more than it solves. Because it actually does break more than it solves, by having nodes dropping off even faster. Right now, you better wait for sidechains and stop hoping for arbitrary raising of the block size. |
|
|
|
|
95
|
Bitcoin / Bitcoin Discussion / Re: The question Gavin and Hearn cannot answer
|
on: May 31, 2015, 03:22:37 PM
|
Bitcoin is supposed to be a global payment system and ready for big amount of transactions, you are basically saying 'i don't want bitcoin to succeed' gtfo man.
You CANNOT scale the worlds payments into the blockchain. You are delusional to think that all transactions will be hosted and mitigated via nodes. Increasing the blockchain size is NOT a solution. Its a fear patch! |
|
|
|
|
96
|
Bitcoin / Bitcoin Discussion / Re: The question Gavin and Hearn cannot answer
|
on: May 31, 2015, 03:16:50 PM
|
Alright, we have less than 12 months.
Something tells me we have a full working solution via Blockstream/sidechains in less than 3 months. Can we at least WAIT to see what that does? If they still dont solve our problem, at least to some significant extend, I will switch side.
blockstream is not bitcoin.. its a totally new chain that not only mutes the argument of databloat as it not only has to handle 1chain, but multiple chains.. but alsois just profiting the sidechain owners who premine the hell out of it. i would rather bitcoin continue with less data limits preventing expansions.. rather that having 20 different altcoins premined and attached to bitcoin so that greedy people like lukejr, gmaxwell and wuille can sell the premine for bitcoins.. imagine 20 altcoins all attached to one app. the databloat will exceed what gavin proposes, of just having bitcoin.. but it looks like you and hund have been sniffing the magicdust supplied by greedy people and ignored the benefits of just concentrating on a bitcoin only blockchain ledger. blockstream would suddenly make bitcoins 21mill coin ledger limit become much much more. making bitcoin less rare due to the fact that people can hoard other crappy coins as part of the same app.. bitcoin needs to stay as a single ledger with only 21mill coins.. if people want alts.. buy them separately without ruining bitcoins ledger I am not sure you understand the reason and idea behind sidechains. They are the solution to Bitcoin bloat and the holy grail to scalability. It wont be altcoins, it will be a way to mitigate the blot of transactions for everyone. There is something called micropayments in bitcoinj, ironically made by Mike Hearn, and is a very good proposal and solution to handling micropayments in order to NOT bloat the blockchain itself. If you think every coffee purchase on the planet will be directly stored in the blockchain, you have not understood the basic principles behind data storage and data transfer. It simply wont happen in a decentralized manner, and proposing 20MB blocks is moving away from decentralization into centralizing the entire structure into the hands of a few data centers than can afford to run full nodes. |
|
|
|
|
97
|
Bitcoin / Bitcoin Discussion / Re: The question Gavin and Hearn cannot answer
|
on: May 31, 2015, 02:56:27 PM
|
Gavin and Hearns proposal for increasing the blocksize to 20MB is the ultimate way to destroy Bitcoin. For anyone that has the need to follow a "leader" and refuses to understand what the outcome of increasing the blocksize is, please read on.
Increasing the blocksize to 20MB does not solve anything in the long term. Neither Gavin nor Hearn can answer what they will do if the blocksize needs to be raised beyond 20MB at a later stage. Right now, what we are getting is a lazy fix, when we dont even need it.
Gavin has been screaming about the blocksize is reaching is maxiumum and that we need to increase the size of the blocks. Why we need to raise it TWENTY FOLD is not something Gavin can answer. Neither can he answer what he will do when 20MB becomes to little again. Raising it to 200MB?
Another huge problem about raising the block size is that the current amount of nodes we are having will start dropping even faster. People have been pointing out how we have lost nodes in the recently. Everyone agrees that this is because the blocksize is becoming too large. Now we are voting to increase the blocksize 20 times more?
The question here is: WHAT do you propose? What is the solution then, if not raising the blocksize? Thats what anti blocksize upgrade guys cannot answer as well. Look at this shit and answer:  The fuck are we going to do when we reach the limit? What can we do to avoid the fork? I agree that is a shitty workaround and a fork is not desired, but what can we do about it? Alright, we have less than 12 months. Something tells me we have a full working solution via Blockstream/sidechains in less than 3 months. Can we at least WAIT to see what that does? If they still dont solve our problem, at least to some significant extend, I will switch side. |
|
|
|
|
98
|
Bitcoin / Bitcoin Discussion / Re: The question Gavin and Hearn cannot answer
|
on: May 31, 2015, 02:20:46 PM
|
|
Exactly, Bitcoin is open source! But right now that is being questioned via Gavin's attempt.
Gavin, when you gave the reigns of Bitcoin to Wladimir, you said you were going to work on the scaling solution. This is more than 6 months ago. Did you really in the past 6 months conclude that the scaling problem should be solved by nudging up the blocksize 20 times?
|
|
|
|
|
99
|
Bitcoin / Bitcoin Discussion / Re: The question Gavin and Hearn cannot answer
|
on: May 31, 2015, 01:55:59 PM
|
This account is not purchased buddy, it has been mine since 29 May, 2011. And why do you need to blindly follow your "heroes" in order to make a decission? The rationaly is there regardless of whom is posting this, ie. nodes WILL drop off if they start becoming data centers for all the transactions in the world. Welcome to centralization, you just ruined Bitcoin. |
|
|
|
|
100
|
Bitcoin / Bitcoin Discussion / Re: The question Gavin and Hearn cannot answer
|
on: May 31, 2015, 01:45:35 PM
|
|
franky1 - So your solution is to increase it 20x, but you are at the same time saying it wont be needed? That is the most riddiculous statement I have ever heard. You are prepared to allow something to break, yet realizing we wont need the 20x increase?
|
|
|
|
|
Show Posts
