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can we either crash to $50 or rally already?
Let me give you the relevant excerpt from the Bitcoin whit paper: ...is all very scientific and complicated. Suffice it to say that the protocol is optimized for maximum pain...
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...scaling is a solved problem, and has been since mid-2011. Implementations are now coming into public domain, just as the market demand arises.
... Aha. https://www.reddit.com/r/Bitcoin/comments/2t7e11/justus_ranviereconomic_fallacies_and_the_block/Justus Ranvier--Economic Fallacies and the Block Size Limit, part 1: Scarcity by xcslerin Bitcoin [–]theymos 6 points 11 days ago* There's a hard protocol rule called the max block size which limits the number of network-wide transactions to a few transactions per second. The actual number of transactions per second depends on the size of the transactions, which varies. Removing or increasing this limit would require everyone who runs their own Bitcoin wallet to upgrade their wallet software. A change to the Bitcoin network which requires everyone to upgrade is called a hard fork. Such a small limit on the network's capacity is obviously undesirable, and many people are a bit horrified that the Bitcoin network is limited in this a way when they first learn about it. The naïve response is to just completely remove this limit, which seems at first glance to be an utterly pointless restriction on Bitcoin's scalability. (Some well-informed people also hold this view and have reasonable arguments.) However, many Bitcoin experts believe that completely removing the limit is fairly likely to cause Bitcoin to become highly centralized, or become too weak against mining-based attacks, or be destroyed entirely. But even if Bitcoin can't handle as many transactions as we'd all like, that doesn't mean that Bitcoin is useless: there are several well-explored but not-yet-implemented ideas for using Bitcoin securely, cheaply, and easily without creating "actual" Bitcoin transactions. I might try writing an easier-to-understand but still fairly complete and accurate summary of the issue, but that'll take several hours, and I don't have time right now. Until then, here's a propaganda video from someone who supports keeping the max block size at its current level for the foreseeable future, which is not what I support. The video also contains some exaggerated/controversial statements. But it's probably still an OK video for getting the basic idea. |
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^  |
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And further, a person should not feel the need to pay taxes just because the net beneficiaries of taxation expect it.
How about you'll pay taxes because the jackbooted gubermint thugs (which my taxes pay for) will pwn ur ass if you don't? See? It's just like the libertard utopia--muh own private army (which I & my buddies kicked in for) doing my bidding & protecting us from freeloaders like yourself. Don't like it? Start your own army & see how that goes  |
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u like ponies or it is my impression? PONIES?!1!  No. |
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Now??? Get in losers, we're going Where No Man Has Gone Before!  |
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the difference between tulips and bitcoin is, tulips can be infinitely multiplied, bitcoins can't.
Bitcoin can be infinitely multiplied, see: hardfork. If the 7TPS limit could be fixed by forking Bitcoin, so could the 21 mil coin limit. Bitcoin is flawed at the very basic conceptual level--its security hinges on an [unreasonable] assumption that the interests of the miners are identical to the interests of the hodlers. At the time of CPU mining, it may have been so, but with today's ASIC megamines it no longer holds. Imagine being an owner of such a mining farm, having huge hangars full of [soon to be unprofitable to run] gear. Bigger block rewards would clearly be more profitable for you, regardless of the fact that selfsame rewards would debase BTC in the long run |
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So this is how you peasants observe walls? Experience the rarified air of Rpietila Wall Observer - the Quality TA Thread  Confirming that I'll be attending the Satoshi Roundtable. It is a private (and originally rather secretive) event ... Avoid saunas at all costs! Breeding ground of thieves, spies and communist saboteurs... O, that way madness lies; let me shun that; No more of that.
At a sausage fest? That's the least worries. Rpietila's (unencripted, with wallets on it) laptop allegedly got stolen from a sauna, where he was presiding over just such a sausagefest. That's what set off his descent into totally-not-insanity & consequent institutionalization. He's, of course, totally all better ... now that the antipsychotics have worn off. Have you forgotten your ban from the thread? Yes, if I actually was mad, I would probably be hesitant to tell about it in the public forum. But if the police intercepts me on my way to the San Jose bitcoin conference and instead of jail (which is a pretty easy place in Finland) throws me into a mental facility with forced medication and refuses access to lawyer (or anyone else for that matter), I am truly pissed off. Psychosis is a medical condition that includes a distorted perception of reality. Merely that you can do extraordinary things, or extraordinary things happen to you is not psychosis. Unfortunately it's not part of the training of the medical professionals to check if the client is speaking the truth, they only assess if it sounds credible. Of course it does not sound credible that I have $100,000s worth of some magic codes open in my computer, which can be stolen without trace so that I can't even know if they are stolen or not. Nevertheless, that is the truth. Next time I will be more merciful to them and not be so careful about the truth since it only gives trouble to both me and them. To each his own. Make up your mind, the establishment is right and they have every right to harass me whenever they see fit and I am a nut who deserves to be harassed OR There is something else to it. |
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Poor naked wretches, whereso'er you are,
That bide the pelting of this pitiless storm,
How shall your houseless heads and unfed sides,
Your loop'd and window'd raggedness, defend you
From seasons such as these? O, I have ta'en
Too little care of this!
Good morning, gentlemen! How goes it?
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Shittiest pump ever. Suckers clearly have no money left. Walls pulled  |
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Going to be hilarious if we do break 230 and make a run for 240
OMG damiano, Bitcoin is so done, get over it already!  |
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Foolish Bitcoiners don't suspect a thing!  Good, good... |
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Wow. I actually am mad i wired 80% of my funds out of bitstamp last week now, but maybe if this finds a real price I'll buy more
BARBS! YOU'VE RUINED MY LIFE!!1!
How many people fell for the pump to 240 last night?
I did. It totally wasn't barbs' fault  ...
Way too soon, give it at least 3 more hours.
Don't mean to be a pest, barbs, but I'm getting a teeny bit nervous here. I pawned the gold watch Papa gave me & even the fine .75 carat cubic zirconia ring I've given my Maybelle, just like you told me to. Told 'er it was to have it professionally appraised for the insurance policy (which I just cashed in to bet on BTC, lol). Sorry for taking up your time like this, but the price don't seem to be goin' up like you tolded me it would, and I'm leveraged to the gills. Just tell me again you're still totally sure, barbs... Won't lie, I'm agettin' scairt Have you lied to me barb? What am I gonna tell Maybelle? What's going on? Tell me it's gonna be alright, barbs. Just tell me you're sure, I TRUSTED YOU BARBS!!! Barbs? Baaarbs!!!  Oh God, I don't feel good... Do you think Braveheart felt good when he stormed the front in assless chaps ? No sir but he went for it anyway because he's a real man. Braveheart? But he's ded barbs! He had assburgers or something, so they kilt him so's he'd stop being such an embarrassment! Barbs, Maybelle found out I pawned the ring, and she's due in a week! I don't blame you barbs, I'm sorry. I brought it all on myself... God, how could I have been SO STUPIT! Bitcoin... Rally. Really. I DESERVE this It's over. Maybelle's water broke last night. I recon I might'a had something to do with it, but Bitcoin price wouldn't go up and she just kept SCREAMING... You wouldn't 'ave done no different in my shoes. And then she stopped. Eyes frozen in that stupid glazed expression she used to get when I talked to her about our Bitcoin. Just silence. And the sound of churning water, tidal waves of Maybelle's water cresting and crashing in a deluge down our rec room stairs. I might have vomited. Did I remember to greet you, gentlemen? Good morning! And you too, BayAreaCoins. |
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  Hahahaha |
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... Wowow. You've moved on to the top tier to troll educate the die-hards?  Yeah, hopeless & ungrateful, but they're my cross to bear. Also FTFY. |
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Pah. What do they know? I put my faith in the repetitive jpeg posters and embittered doomsters on here. Our future is unquestionably in their hands.
Nah, it's in their hands  But I admit, things have been going pretty shittily for you. Almost as if YOUR FUTURE IS IN MY HANDS. |
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...when trying to disprove the analogy.
 Disprove the analogy... You've clearly been to colleges |
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It is not compatible. I don't give a shit about that article, or the concept of velocity of money. I have written about that numerous times. Although it can be computed, giving a number, the parameter says exactly nothing of the value of money.
>says exactly nothing of the value of money To you. You're just not very knowledgeable about money stuff is all. That's OK tho, you might be good at sports. |
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