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1  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 04, 2015, 02:20:45 AM
Just realized this could be a lot of work if I kept up.   Ain't gonna doit.


2  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 04, 2015, 02:07:39 AM
Long time no see...



That tastes kinda like a near beer.

Patience!   
3  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: November 04, 2015, 02:02:06 AM
Long time no see...

4  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: July 28, 2015, 12:55:36 AM

You are never going to get human consensus on an unlimited block size to the point where it isn't controversial. Just isn't going to happen.

The good news is that Bitcoin is not software.   It is a protocol  Smiley.   Of course you have to get people to agree to use your fork but that is another thing entirely.  Errr, consensus?
5  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: July 28, 2015, 12:38:59 AM
If anything, we should get the blocksize to the largest rationally supportable size

This is exactly where reasonable people differ.

That is a key word right there "reasonable".  I certainly haven't had any great epiphany as to how to choose the correct size or how to make it a reliably updated thing.   Predictability and anything that removes human consensus making from an ongoing process is what I would favor.  

The only way to remove human consensus from the ongoing process is to leave it exactly the way it is. No changes to the consensus rules ever (MP argument).

That is btw pretty much Wladimir's view. He's not going to back any change that doesn't have human consensus. So you either have human consensus, or removing it, no changes.



I suspect Wladimir was thinking in context of a hardfork vs. context of ongoing blocksize increases chosen by an algorithm.   I might not have seen his specific commentary though so I could be wrong.  It is hard to keep up with all the goings on nowadays.     

I can certainly see how a complete removal of the hardcoded block size limit would be an attractive option.   There are several large systems that have unrestricted scale but are controlled by each individual actor according to their capability.    Bitcoin is much more likely to end up like the big I Internet in this respect than something that everyone can run on their raspberry pi.

With respect to "no changes to consensus rules ever"; that way lies madness  Smiley.  I don't see a solution where Bitcoin retains value as a monetary unit or a ledger of record without a blocksize increase.  Lightning and Sidechains are great but they need a strong ledger of record to support them.   Strength requires broad adoption.    Broad adoption requires high TPS.   With Sidechains I suppose you could argue that everyone will just transition out of Bitcoin into something else but that probably won't fly with those bought into the existing ecosystem.   

 
6  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: July 27, 2015, 11:43:01 PM
If anything, we should get the blocksize to the largest rationally supportable size

This is exactly where reasonable people differ.



That is a key word right there "reasonable".  I certainly haven't had any great epiphany as to how to choose the correct size or how to make it a reliably updated thing.   Predictability and anything that removes human consensus making from an ongoing process is what I would favor.   
7  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: July 27, 2015, 11:13:24 PM
The Red Queen interpretation, whereby we must change Bitcoin ASAP for the sake of keeping it the same, is absurd.  Moving the tx supply curve with the goal of controlling the range where it intersects that of demand is prima facie centralized market manipulation.  As long as tx fees are absurdly underpriced, in terms of their cost and what users are willing to pay, the fee market is completely broken.  Bitoin's 'free sample/loss leader' viral marketing campaign phase ended with the emergence of omnipresent 'cosmic background spam.'

ICEBREAKER, I am not attributing all of the below to you.   Just using your comment as a springboard for some thinking I have been going through over the past few months as tensions increase on block size.

I have heard this statement "tx fees are underpriced"  and "fee market is broken" several times and I still don't get it.    Mainly because the way it gets portrayed is that we must raise fees now vs. let things develop naturally otherwise miners can't stay in business.   When the block reward halves what do you think happens?   My expectation is that miners will still need to pay the bills in fiat so the fiat per BTC ratio will increase.    This increase, by it's very nature, increases the fiat "profit" per transaction fee.   So, if fiat/BTC increases due to reward changes the fees go up from the perspective of a fiat holder.   Heck, I suspect the block reward will be a major factor in driving fiat/BTC ratio until the block reward gets close to the average transaction fee.  .

If anything, we should get the blocksize to the largest rationally supportable size and allow nature to take it's course.   Fees, from a fiat perspective, will go up even if the miners do nothing to prioritize transactions by fee or increase the bitcoin denominated standard fee.    Miners will still make a profit as scarcity drives the fiat/btc ratio and the fee market will continue to develop as a means of preserving scarce resources and preventing spam.   It seems to have done an adequate job so far and this may be the best possible outcome with respect to keeping bitcoin globally relevant.   One of the biggest drivers of adoption we have at our disposal is the fiat/btc ratio. 

There must be something I have been missing in the arguments I see about this.   Where does the above thinking not work?    Thanks ICEBREAKER for letting me borrow your words.
8  Bitcoin / Meetups / Re: BTC 1K Party attendants list on: December 01, 2014, 09:20:12 PM
Coins are received.  Thank you 600watt and all!   We are going to have to plan for a $10k club next time  Smiley.



I still think $1000 per bitcoin party should happen.

Maybe it can be held in Hawaii this time.  Grin Grin Grin

Count me in!



me too !

edit: damn, cannot travel to the u.s.  Angry

Not sure I want to know why but it feels wrong that you can't be there.   
9  Bitcoin / Meetups / Re: BTC 1K Party attendants list on: December 01, 2014, 08:27:34 PM
Coins are received.  Thank you 600watt and all!   We are going to have to plan for a $10k club next time  Smiley.



I still think $1000 per bitcoin party should happen.

Maybe it can be held in Hawaii this time.  Grin Grin Grin

Count me in!
10  Bitcoin / Meetups / Re: BTC 1K Party attendants list on: December 01, 2014, 02:13:37 AM
Coins are received.  Thank you 600watt and all!   We are going to have to plan for a $10k club next time  Smiley.

11  Bitcoin / Meetups / Re: BTC 1K Party attendants list on: November 24, 2014, 10:21:36 PM
Checking in on this thread.   I sent a PM and have not heard a response just yet.    Hoping to get my bitcoin back prior to black Friday!
12  Economy / Speculation / Re: Smoothie's Bitcoin Market Sentiment Thread on: April 02, 2014, 02:19:56 AM
DIE Bitcoin DIE

Are you speaking in German?
13  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 12, 2014, 03:42:15 AM

 
In Feb the new market participants absorbed the bulk of profit taking / panic selling, now they are fighting over random 200BTC scraps that come along while trying not to push price to high just yet, because cheep coin accumulation.

Can you show us on the coin cheepness [sic] indicator chart? perhaps with a train and a dinosaur. That would make my night  Cool

14  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: March 12, 2014, 02:38:14 AM
I have to concede that you are correct. The government is not a band of thieves. Thieves don't use violence or threat of violence to steal. Robbers do. The government is a band of robbers.

I quite like the alliteration of "Bandits with Badges".

Bandits Brandishing Badges.

Bandits Brandishing Badges Behave Belligerently Because Bad Bitcoining Begets Big Banks

Okay, that is the best I could do on short notice.
15  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 27, 2014, 10:14:37 PM
Volume - zero  Grin
Someone is watching the 1minute intervals  Cheesy
16  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 27, 2014, 07:52:46 PM
which way is it gonna go on the breakout? We will know soon.....





Up
17  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 05:49:59 PM
hahahahah ok they are the official page of gox hahahaha





anyone can check the dogecoin price ? lets see if there will be a pump hahahah

Looking more and more troll.   Hopes dashed.   
18  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 05:38:44 PM
Is anyone watching the facebook account of gox.com?  https://www.facebook.com/goxbitcoin

Look at what magicmexican just posted.   Juicy facebook info in there!




Now wondering if this is yet another scam  Smiley
19  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 25, 2014, 05:37:25 PM
Is anyone watching the facebook account of gox.com?  https://www.facebook.com/goxbitcoin

Look at what magicmexican just posted.   Juicy facebook info in there!


20  Bitcoin / Press / Re: Mt. Gox CEO Resigns From Bitcoin Foundation on: February 24, 2014, 07:57:04 PM
I think the damage has already been done.

Absolutely tragic.   That said, I think we are just in a negative news cycle in general.   Best strategy is just to keep on pressing on and don't let the FUD get to you.
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