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821  Alternate cryptocurrencies / Speculation (Altcoins) / Anyone shorting BCash? on: July 30, 2018, 05:25:34 PM
BCash aka Bitcoin Cash aka BCH, whatever you want to call it, the famous Roger Ver + Craig Wright fork, it's a really struggling to keep above the 0.01 psychological barrier. I believe when that is crossed we may see a big dump with a long red candle, which could lead to massive gains if properly shorted.

The problem: Ver and co have enough resources to keep creating dead cat bounces to try to keep it alive. At some point they will run out of said resources and then that will be the short that makes these that take the risks massive gains.

The question: How many resources does him and his group really have to keep pumping it? that is the key point here.
822  Other / Meta / Re: Automated password recovery on: July 30, 2018, 03:35:06 PM
~
Give me few minutes I am bringing up something...

I never get an answer of the below post. Since you have created a topic already, I would like to bring everyone's attention into it, I assume we both are standing on the same page.
I am not sure if it has been discussed here or not but excuse my rush here...

Looking at all these hacked/locked account issues and the time needed to recover them manually, I feel very insecure for my account too. Although I always use strong password, 2FA where applicable - all sorts of things to ensure the highest security but still anything can happen anytime. It could be my mistake or it could be system leak, which actually does not matter. What matters is once an accident happen then the account holder is facing all sorts of hassles which is frustrating.

Coming to my point...
Whenever your password is changed (except by an administrator), you will get an email about it.

Whenever your email is changed (except by an administrator), your old email will get an email about it with a link to lock your account. The link is valid for 14 days.

I actually do not understand why the email is to lock? Instead of the link to lock the account why not the system send an email asking to revoke the request if the change has not made by this email account holder?

I think this could be a decent procedure....
If an account (bitcoinTalk) requests for password and/or email change then send an email to the last registered email address asking for approval. Send a link which will confirm manual approval for the change requested. If the original user requested the change then they are liable for their action. Now, if the user do not have access of the email address only then ask the mods/admins to help them out. I believe this small tweak in sending email, will be saving a lot of time for both the users who are victim and mods/admins.


Update:
A little correction...
For password change send approval email to the current registered email account and for email change send approval email to the last registered email.


Yes, confirming via email that it's you requesting a password change and not the hacker also makes sense, instead of locking it into the lottery of getting it recovered 10 years later.

I think the reason is that this forum has been hacked several times, as the hackers have been able to access all the sensitive data from the password to the email accounts "some have been changed."
Therefore, restoring accounts using email addresses will make it easy for anyone who has access to those emails to retrieve their password.
I also believe that the process of recovering accounts is not merely the signing/verification of a message "there is an investigation going on."
Based on theymos' programming capabilities, I think he can easily add this feature but must have a compelling reason.

As I pointed out, if someone gets your password because of this method, you can create an alt account, sign a bitcoin address you've posted in the past, and then the account would be closed for investigation.

But meanwhile, tons of people that legitimately own the account and can verify the bitcoin addresses, are stuck in this account limbo. So give people an easy way to recover it if they own the email, and if someone got your email address and you care about your account, you'll come here and get a btc address signed. You can't recover it without doing that anyway.
823  Bitcoin / Development & Technical Discussion / Re: How can we make Bitcoin/ Lightning more user friendly? on: July 30, 2018, 03:05:02 PM
Trying to get the older generations on board is extremely difficult. My mom has no idea how to use a computer, let alone my grandma. It's perhaps a waste of time at this point. They get along well using cash, the bank, and buying on the local shop.

On the other hand kids born into iPads and phones have no problem with screens, so using Bitcoin will not be a problem for them.

The best and easiest way is tactile interfaces. Using your finger is easier for most people to get used to. I've seen some slick looking Lightning Network interfaces in which making payments would be extremely easy. I've seen moms that had no idea about technology learn how to use Whatsapp and share stuff around and so on. So it could be done.

Of course, you still need many merchants and a Bitcoin economy, something that I doubt most governments are going to allow, unless they can somehow control and tax everything. Until then it will remain digital gold which is not for most people because most people don't understand what the deal is.
824  Bitcoin / Development & Technical Discussion / Re: ✴Limit of IPFS? on: July 30, 2018, 02:39:58 PM
I thought IPFS was a hybrid of Freenet. Guess the devs of IPFS got some idea from there... There isn't really much difference!
The main advantage of IPFS to Freenet seems to be versioning. If you address a content item via IPFS, you would be directed - as a default - to the newest version, and you should also be able to select the version you want to fetch.

On the other hand, Freenet has additional layers for privacy (a bit similar to Tor) which makes it slower, but more difficult to censor. The drawback is that you can't select which content you store permanently - so even if it probably has no legal consequences (because you never know what you're storing because of encryption) you have to accept to store/serve all kind of nasty illegal or morally questionable content, from Nazism and Jihadism up to child pornography. For me, this is a reason why I never got enthusiastic about Freenet. Blockchain-based storage services like Steem, however, have the same problem.

In contrast, IPFS is more like torrenting - you seed what you like, and your own files, and these other people pay for.

Filecoin, in my opinion, is not really necessary. We have Sia and the already mentioned Storj, which can both be used to create a decentralized market for the storage of pinned IPFS content.

Hearing freenet makes me feel very old. I remember that ancient software from years ago. I was curious about it and tested it. Eventually I learned how it worked, and I also realized how people stored all kinds of illegal data on it, including illegal pornography and other deranged shit. I decided to not actually install the program and test it myself because I don't want none of that sitting on my drive, even if it's all encrypted. What's the point? Sorry but I would not risk that. This is the problem with file-shared models such as freenet and co.

On the other hand with Bitcoin there's no risk involved, it's just a database with numbers. I just don't want to have to store illegal encrypted data in order to use a software, I don't feel right about that. What if the encryption is broken some day or something.
825  Economy / Speculation / Re: Monthly USD returns since 2011 on: July 30, 2018, 02:33:26 AM
As it seems July will be positive month after two negative. I do not believe August will be a positive one. But lets just hope it will be.


Well wasn't the ETF decision delayed to September? If nothing strange happens, the bull run will continue through the entirety of august up to September until the SEC says whatever they want to say (which will most likely be a no, because I still don't see how a Bitcoin ETF is possible, since the SEC only does ETF for things they can control and manipulate)

They will most likely pull another short, smoke all the noobs that still think government decisions can kill Bitcoin, and just like the ETF denial we had a couple days ago, we'll see some red candles, another "Bitcoin is dead" period, then the bull run continues, so it may be time to pick cheap coins again.
826  Economy / Speculation / Re: Triple bottom: yes or no on: July 29, 2018, 07:10:14 PM
Today is the last day to be able to vote in this poll. If you want to make a prediction vote now. It's been a pretty even one.

Yes   - 17 (56.7%)
No    - 13 (43.3%)

I doubt this will change in the following hours but I would like some extra votes. A month of time to decide it's enough. Now we will just have to wait for the outcome. Thus far it's holding pretty well above $8k and there are now several resistance points that would need to be broke to destroy the triple bottom scenario and go to lower lows (below $4900). The ETF gap in the graph looks hilarious, many noobs got squashed there then the price went up as if nothing happened.
827  Bitcoin / Development & Technical Discussion / Re: Why can Core not Scale at a 0.X% for blocksize in the S-Curve f(X) on: July 29, 2018, 06:38:10 PM
Yeah, I think Satoshi was smart enough to foresee this and he could've implemented the Core with 2MB or 4MB of blocksize himself but I think we knew back then that this would cause more harm than good so he stayed at 1MB and I think this is great as we dont need a cryptocurrency that is handled like fiat money where some big players controll the wealth of many many people. Bitcoin was created to give the people their wealth back because they work for it every day 9-5....

Some say satoshi expected consensus to be eventually reached in order to raise the blocksize, which seems pretty naive in retrospect, since it is clear now that it's almost impossible to reach said consensus, and most likely we are stuck with 1MB.

Other's say that this was completely expected by satoshi, and he knew perfectly well that the 1MB limit was set in stone, and this is just part of the Bitcoin game theory, so it can be immutable, while remaining open source and so on.

We will never know what his true intentions were, what do we know now is, no increases of the block size are going to happen anytime soon.
Satoshi was clear that the 1 MB max block size was meant to be a temporary anti-spam measure, and that the max block size should be increased in the future when the number of transactions warranted.


~
What exactly does a non-mining node do for a "regular" user of Bitcoin who is not running a node, and is in the process of spending some of his bitcoin in a store? Since every node is free to choose their own settings, what would happen if this particular node has different settings than the mining nodes as a whole?

Yes, indeed we know that. But as I said, did he knew the outcome too?

Was he ignorant/delusional enough that there would be consensus about it? Or he expected that such a change would be impossible?

He definitely entertained the idea of people being opposed:

Piling every proof-of-work quorum system in the world into one dataset doesn't scale.

Bitcoin and BitDNS can be used separately.  Users shouldn't have to download all of both to use one or the other.  BitDNS users may not want to download everything the next several unrelated networks decide to pile in either.

The networks need to have separate fates.  BitDNS users might be completely liberal about adding any large data features since relatively few domain registrars are needed, while Bitcoin users might get increasingly tyrannical about limiting the size of the chain so it's easy for lots of users and small devices.

Fears about securely buying domains with Bitcoins are a red herring.  It's easy to trade Bitcoins for other non-repudiable commodities.

If you're still worried about it, it's cryptographically possible to make a risk free trade.  The two parties would set up transactions on both sides such that when they both sign the transactions, the second signer's signature triggers the release of both.  The second signer can't release one without releasing the other.

So either he knew it was impossible and 1MB was set in stone once Bitcoin got enough traction for it to be "too big to change", or he was expecting that everyone involved would at some point reach super majority, or enough majority to make the change without causing a big disaster-split (which as far as I can tell, it's pretty delusional... I can only see a super majority consensus on hardforks when it comes to a fatal bug that would render everyone's coins useless... and still, even there we would have big debates and disagreements in how to proceed).
828  Other / Meta / Automated password recovery on: July 29, 2018, 06:04:17 PM
What is the exact reason that we can't just get an automatically generated password to regain control of an account in which we lost our password for whatever reason, instead of just having to lock it pretty much forever (since it seems it's next to impossible to recover them, even after presenting sufficient cryptographic evidence through several signed bitcoin addresses)

Just let us request a new automatically generated password which is sent to our email used in here, then we can be back in minutes, instead of wasting everyone's time with endless queues (the meta section is now just a big queue of people wanting to recover their accounts).

If someone maliciously gets access to an account via the automated generated password, the real owner can just come here and sign an address, then in this case it would make sense to look at it individually.
829  Other / Meta / Re: My account was hacked and I didn't use a Bitcoin address.. on: July 27, 2018, 08:05:33 PM
If I had known that locking my account will be this hellfire I am experiencing now, I wouldn't lock it. After I locked it, I opened yopmail.com and saw that you can use any email you want there without any password, so I could reset my password and email, but I locked it and now I am in hell.
Just send me an email like:
"Your email has been changed"
"Your email has been changed to XXX, if this wasn't you, click here to revert the change."
It's so fucking simple.

"We've improved security by giving you a chance to lock your account forever, but we'll never EVER unlock it for you, fuck you"
I had a better chance of asking the hacker nicely to hand over my account..

Yeah, it's pretty dumb actually. At least you avoid people impersonating you, but yes, it's kind of pointless if you don't get to recover the account.

The link should lock it once clicked, and then when you try to access your locked account, you would be asked to reset the password, which you would receive in your email (these automatically generated passwords, so you receive it, then you change it for a better password once you can access). The process is automated.

This is the case where the forum password gets stolen, but they (hackers) can't access the email.

If they can access the email, then you are screwed, which is why we should have an alternative email, in case we lose one, we can recover the email with the second one. Recovery email it's better than an SMS, more private, I don't personally want to involve my phone number or anything like that in here, too many scammers.

We just need to automate password recovery, not only locking the account.

When in doubt, if someone that isn't the real owner obtains access through the automated system, the real owner will simply come in here and sign a BTC address.

I think there is small chance to get recover nowadays so just create another account for your own good.
The lesson is very expensive !

On a long enough timeline everyone gets their password compromised, even satoshi. We can't have perfect security with emails/passwords.
830  Economy / Speculation / Re: SEC rejects Bitcoin ETF again. Bear market to continue. on: July 27, 2018, 04:07:48 PM
With the few bulls still standing the ETF was basically their only hope of a recovery. Now that the ETF has been rejected again we can expect a long term serious bear market to continue exactly as i predicted.

https://www.coindesk.com/winklevoss-brothers-bitcoin-etf-rejected-by-sec-for-second-time/

Lol cryptocuck owned so fast again. The market is recovering quickly because only noobs are paying attention to the ETF. Massive green candle short after you created this thread, looks pretty hilarious now in retrospect.

We are going to be testing 9k soon. Also even if ETF is irrelevant for Bitcoin, some progress is being made at the institutional level because we have SEC Commissioners disagreeing with the resolution:

https://www.sec.gov/news/public-statement/peirce-dissent-34-83723#.W1o-36vBMDU.twitter

So with or without ETF we are going for ATH.
831  Economy / Speculation / Re: Great run with Bitcoin! on: July 27, 2018, 03:34:06 PM
Lol the first round of ETF rejections (the one by the Winklevoss Brothers) already played out as I expected here:

https://bitcointalk.org/index.php?topic=4741677.msg42879165#msg42879165

Big red candle, followed by a big green dildo candle a couple of hours later when the noobs are shaken out and the smart money jumps in to buy the dip.

Next round in august when the other ETF gets rejected (I think it's a bit delusional to think it will get passed, basically the only way the SEC can pass an ETF is if the market is rigged by them, just as any other SEC-backed market, something you can't do with Bitcoin) and then same thing. Big dip, noobs shaken out, "oh no Bitcoin is dead", followed by a period of nothing happening, then the next big green candle.
832  Bitcoin / Bitcoin Discussion / Re: LN: Bitcoin could theoretically scale beyond VISA. on: July 27, 2018, 03:21:48 PM


first of all. i am not advertising bitcoin cash. thats the redit narrowmindset of if you hate how devs have stiffled and ignored the bitcoin community then you must be group X

i hate the devs because they have stiffled bitcoin core network innovation, ethos, revolution of 20109-2013.
they have not been open to having other teams as reference clients on bitcoins mainnet. hense why i now deem it as the core network because only core want to OWN IT. and all other teams that want to use the network and come up with their own innovations are deemed as attackers of core..
this does not mean i love or want bitcoin cash. this means i hate what bitcoin core network has stagnated into.

I may be wrong, but I reckon you used to vehemently defend BCash as the be-all-end-all solution. "Let's just raise the blocksize" and you pointed at how the famous "gigabytes by midnight" claim to sort of point at how it wasn't a problem.

Also, no one is forcing people to use Bitcoin Core. People freely Core as the most used full client software. Again, no one is forcing them. And anyone is free to use any of the other implementations, or create their own and try to convince people to use it.


OMG its delusional. kodak said how digital media wont scale up and how they will stick with film media because floppy disks can only handle 1.44mb of photos...... look what happened to kodak

if you want to argue that users cant handle more thn a couple mb of data very 10 minutes.. then you should do a kodak, but modernise it.. go tell twitch.tv that streaming video wont work. tell youtube users cant live stream. go tell EA sports that online gaming wont work. tell skype. even go and tell netflix that users wont get to watch HD movies.

..... oh wait. users can...... hmm

The actual delusion is in which people think:

1) Raising the blocksize is actually possible (it's not, not if you get everyone on board, which I claim will not happen)
2) It does not centralize

Even if 2) was a reasonably low level of increase centralization due technology advancing, you still have to deal with 1). Good luck getting all the whales and everyone else with relevancy on Bitcoin on board.
833  Bitcoin / Bitcoin Discussion / Re: LN: Bitcoin could theoretically scale beyond VISA. on: July 27, 2018, 02:58:58 PM
franky1, your criticism of LN and segwit and whatever else (even if I haven't reviewed them yet) are as valid as the next guy, I have doubts myself, the problem is when you guys are selling BCash as the solution, when it's even worse.

I don't think there will be a way to scale Bitcoin up to a point where even african people in villages can use it, it's just delusional. There would be tradeoffs of sorts in there. If you are ok with some tradeoffs then good for you, but keep these at second layer tiers, this is why the layer 0 must not change, and this is why blocksize scaling is yet another delusional dead end.
834  Other / Meta / Re: My account was hacked and I didn't use a Bitcoin address.. on: July 27, 2018, 02:34:51 PM
The previous address that was on my profile was my Ethereum address, I can also prove ownership of that.

You can prove you own the account by signing a message with that address.

Unless Theymos and Cyrus make an exception for you to recover this account , you have no chance.
I read somewhere "mprep" saying Theymos did not give any guidelines for staked ETH address for taking as valid proof.

It is bitcoin forum, Theymos will ask for bitcoin staked address only.
Might your proof /validity may help in DT to tag that account.



Lol, it was a bitcoin forum back in 2009, now it's a multi-coin forum and you can't expect everyone to have a bitcoin wallet.


Supposedly any address of a decent altcoin (not easily 51%able) should do. It's not a multi-coin forum tho to be honest... the altcoin section was added because it was the only way to contain everyone coming in here creating altcoin posts in a Bitcoin forum, so out of convenience the containment board for alts was created.

As far as you recovering an account without a Bitcoin address posted in a previous unedited comment/posted in a locked thread, it's next to impossible.

There is people that have been waiting for months, even more than a year, and they signed not one but several bitcoin addresses, and theymos or Cyrus don't see these cases/simply cannot be bothered to recover the accounts. It is insane? indeed, but what can you do? it has been discussed several times that new staff should be doing this job to speed the queue up, attempts of such were unfruitful. I think there's no point in your case.
I know there are quite a few accounts left unattended to and that is what I fear may be coming for me, from what I read 99% of the people don't get their accounts back.


Considering that your account isn't an Hero account or above and you don't have the bitcoin address staked, unedited or in a locked thread, I wouldn't even bother to be honest.


This guy for instance:

https://bitcointalk.org/index.php?topic=2251399.0

Several verified messages on bitcoin addresses posted years ago, unedited or locked thread otherwise, all good. Apparently still no word from theymos or Cyrus. He will soon have 1 year of wait, probably a record, it's one of the longest waits I've ever seen with compelling evidence presented, and it's an Hero account to boot. So with examples like this, there's no hope for the average case of lost account unfortunately.

The average case, right? That's more than a year's worth of activity lost. You know what grinds my gears? There's no security options on this forum, something like 2FA or verifying an email change through the old email... Not even sure if it's my fault I got hacked, this forum software is 10 years old..


A couple of months ago there were some improvements in security via email address:


I added email notifications for some security events:

Whenever your password is changed (except by an administrator), you will get an email about it.

Whenever your email is changed (except by an administrator), your old email will get an email about it with a link to lock your account. The link is valid for 14 days.

Let me know if you find any bugs.

So if something warning happens you will get noticed and have the possibility to lock your account yourself to avoid the hacker joining signature campaigns and wrecking around.

Of course, this does not change the fact that after you lock it, the nightmare begins in which you will be waited and indefinite amount of time waiting for either Cyrus or theymos to restore it back to you.

There's no workaround for this that I can think off, other than some automation + hiring more people to check the cases.
835  Other / Meta / Re: Mod please stop this dude. on: July 27, 2018, 02:27:26 PM
I just saw this. He is all over the place, all sub boards, pretty hilarious, he is really going at it at insane levels. I think this has to be a hacked account. Why else would you ruin your Hero account like that?

Looks like one of these local posters that don't create much trouble at all, but for some reason he decided to go nuts today. Again most likely another case of hacking. Ban the account unless he can sign a BTC address (good luck with that, given how slow the process is).
836  Other / Meta / Re: My account was hacked and I didn't use a Bitcoin address.. on: July 27, 2018, 01:14:23 AM
The previous address that was on my profile was my Ethereum address, I can also prove ownership of that.

You can prove you own the account by signing a message with that address.

Unless Theymos and Cyrus make an exception for you to recover this account , you have no chance.
I read somewhere "mprep" saying Theymos did not give any guidelines for staked ETH address for taking as valid proof.

It is bitcoin forum, Theymos will ask for bitcoin staked address only.
Might your proof /validity may help in DT to tag that account.



Lol, it was a bitcoin forum back in 2009, now it's a multi-coin forum and you can't expect everyone to have a bitcoin wallet.


Supposedly any address of a decent altcoin (not easily 51%able) should do. It's not a multi-coin forum tho to be honest... the altcoin section was added because it was the only way to contain everyone coming in here creating altcoin posts in a Bitcoin forum, so out of convenience the containment board for alts was created.

As far as you recovering an account without a Bitcoin address posted in a previous unedited comment/posted in a locked thread, it's next to impossible.

There is people that have been waiting for months, even more than a year, and they signed not one but several bitcoin addresses, and theymos or Cyrus don't see these cases/simply cannot be bothered to recover the accounts. It is insane? indeed, but what can you do? it has been discussed several times that new staff should be doing this job to speed the queue up, attempts of such were unfruitful. I think there's no point in your case.
I know there are quite a few accounts left unattended to and that is what I fear may be coming for me, from what I read 99% of the people don't get their accounts back.


Considering that your account isn't an Hero account or above and you don't have the bitcoin address staked, unedited or in a locked thread, I wouldn't even bother to be honest.


This guy for instance:

https://bitcointalk.org/index.php?topic=2251399.0

Several verified messages on bitcoin addresses posted years ago, unedited or locked thread otherwise, all good. Apparently still no word from theymos or Cyrus. He will soon have 1 year of wait, probably a record, it's one of the longest waits I've ever seen with compelling evidence presented, and it's an Hero account to boot. So with examples like this, there's no hope for the average case of lost account unfortunately.
837  Other / Meta / Re: My account was hacked and I didn't use a Bitcoin address.. on: July 27, 2018, 12:25:42 AM
The previous address that was on my profile was my Ethereum address, I can also prove ownership of that.

You can prove you own the account by signing a message with that address.

Unless Theymos and Cyrus make an exception for you to recover this account , you have no chance.
I read somewhere "mprep" saying Theymos did not give any guidelines for staked ETH address for taking as valid proof.

It is bitcoin forum, Theymos will ask for bitcoin staked address only.
Might your proof /validity may help in DT to tag that account.



Lol, it was a bitcoin forum back in 2009, now it's a multi-coin forum and you can't expect everyone to have a bitcoin wallet.


Supposedly any address of a decent altcoin (not easily 51%able) should do. It's not a multi-coin forum tho to be honest... the altcoin section was added because it was the only way to contain everyone coming in here creating altcoin posts in a Bitcoin forum, so out of convenience the containment board for alts was created.

As far as you recovering an account without a Bitcoin address posted in a previous unedited comment/posted in a locked thread, it's next to impossible.

There is people that have been waiting for months, even more than a year, and they signed not one but several bitcoin addresses, and theymos or Cyrus don't see these cases/simply cannot be bothered to recover the accounts. It is insane? indeed, but what can you do? it has been discussed several times that new staff should be doing this job to speed the queue up, attempts of such were unfruitful. I think there's no point in your case.
838  Economy / Speculation / Re: Great run with Bitcoin! on: July 26, 2018, 07:29:17 PM
The gap between $8,400 and $10,000 is not very large, but it reflects the confidence of the market. So $10,000 is a breakthrough for the market.

If we happen to reach that level, we won't be able to keep it up for a longer while. Current increase isn't what people think it is. An approved ETF means we still might have to wait 7 more months, which is a very likely scenario with how slow the SEC is when it comes to crypto. Them approving an ETF will make Bitcoin stronger and more valuable in the long term, which understandably isn't something authorities are willing to contribute to. Caution is the most important thing to focus on with how fragile the market is, an approval won't change anything in the short term....

I believe the $6000 bottom will hold (well if not exactly $6000, the around that $5500-ish area, because that is the actual bottom). So we would be looking at a quadruple bottom scenario... pretty crazy, but this is Bitcoin after all, I think it's plausible.


If all this hype has been due ETF and it doesn't hold, I guess we may actually test these $4900 predicted resistances by some bears, but at this point anyone that isn't a total retard is aware of how cheap Bitcoin is, I would be surprised these ranges last. I would start buying as much as possible monthly at these rates, I mean it is insane. Bezos' fortune is bigger than Bitcoin and some people argue Bitcoin is overrated.
839  Bitcoin / Bitcoin Discussion / Re: WOW! Cryptocurrency VS Visa Transaction per second (TPS) comparison on: July 26, 2018, 07:10:55 PM
It's basically assumed by me at this point that Lightning Networks will have to deal with some sort of decentralization tradeoffs. I don't believe it's possible to scale to worldwide levels without tradeoffs in decentralization (so giving away some security and decentralization in order to achieve that).

This may make sense for smaller transactions, unimportant stuff. Im yet to see an answer of how closing and opening LN channels is going to work with when fees are too high.

Of course this doesn't mean any altcoin is any better, they are scams. This also doesn't mean Bitcoin will not win as a decentralized digital gold long term, with or without LN on top. This is what a lot of noobs don't get, they end up selling because they think "oh well Bitcoin is dead, it will not scale after all".
840  Bitcoin / Bitcoin Discussion / Re: Bitcoin as the preferred form of Money? Sparring Debate on: July 26, 2018, 07:01:49 PM
Bitcoin is not ready to replace any form of fiat. When it will reach that point, it will just become another form of USD, just maybe without any physical form. Currently it wouldn't be smart to use it, as its too volatile and not regulated, etc.

Bitcoin cannot be regulated at any rate in any point in time, that's the whole premise of a decentralized permissionless system. I don't understand how some people are apparently waiting for whatever regulator to hop in and make the price stable.

Bitcoin price will never be as "stable" as fiat because the supply and other parameters cannot be tweaked in order to achieve this (fictional) stability as they do with fiat.

It can be tho as volatile as gold, and that would be enough. We just need more money sitting on the system so it becomes harder to move. The bigger it becomes, the heavier the object, that is the analogy.

And yes, it's easy to win against Peter's old points. Bitcoin is a better gold, gold is useless in the information era.
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