A programmable blockchain is of course very exciting for any programmer. But as I wrote in a prior post of your thread, Ethereum has a fundamental error in their design—every node in the consensus network recomputes the script to verify it. That is the antithesis of decentralization. They will need centralized censorship and a script whitelist, or a cap on script computation bandwidth. No peers can opt out of that computation, so the network computation bandwidth is limited to the weakest CPU peer. SNARKs technology is a potential solution, but it is not yet a realizable solution and may never be. IMO, that is just dumb. Vitalik has produced other dumb designs too (I guess we all have at one time or another). Originally Charles asked me before he started to work Vitalik about Vitalik's original whitepaper (before Ethereum) PoW algorithm and I blew holes in it, which have hence been publicly admitted by Vitalik. Vitalik is math smart (smarter than myself), but appears to be common sense dumb. Typical geek trade-off. I had proposed months ago that a more decentralized solution for a programmable block chain is to let each script be an orthogonal merge mined block chain. So then consensus network peers can opt in and out. This also allows more competition on the design of the scripting language. The disadvantage is you just can't inject your script and have it run (need to convince peers to run it) unless that chain runs a scripting language that has a cap on script computation bandwidth (i.e. just like Ethereum with the advantage of competing merge mined block chains). In my proposal the computation cap could be specified per block chain, so only peers with sufficient CPU power would mine it. Thus weaker CPU power peers could mine chains with a lower computation cap. |
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The people with the money, want something that is stable for settlement and which has low volatility.
This is not a currency market because the money just sits there, rather it is a store-of-value market. There are several problems with targeting this market which also plague Bitcoin and every altcoin. Actually that market will not invest for safety and stability because cryptocurrency will not be reliably safe and stable for decade or more. That won't help us in the near-term to produce an altcoin. Instead you'll end up only with the speculative investors, which is all that cryptocurrencies are except for Bitcoin. Bitcoin has actually become an alternative means to pay for things when the ignominy of credit cards is not acceptable. In short, the entire market for cryptocurrency is: 1. Speculation 2. Nefarious activity You either accept this market reality or fail. |
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Skycoin, I agree that high net worth individuals ( including the corrupt politicians) are going to be looking for Private Assets to hide their ( ill gotten or honest makes no difference when rule of law is gone) wealth. That is what I wrote in an earlier post in your thread, that we are in Martin Armstrong's 51.6 year Private Wave which will end 2033. By 2033, there will have been a global monetary system reset with Shanghai and Singapore (Asia) replacing New York and London (the West) as the new financial centers of the world. I don't know how you got from there to " Gold price wont increase. Bitcoin wont increase.". In order for those private assets to not rise, then all capital flows would have to cease and we would have to decline into a Dark Age every where, and only food would be money. Gold price wont increase. Bitcoin wont increase. By the time this starts, the capital flows get cut off and there will be no money or capital inflows left to pump into the assets. All capital flows will get sucked in by extraction and a cratering economy. There will not be any hyperinflation. The prices may not increase until the chaos settles and economic growth resumes.
Most of the world does not have access to bank accounts and Bitcoin wont work for them. It has too many problems and is too complex.
I am so tired of hearing this nonsense. I have refuted it many times. I live in the 3rd world. The people who need to have a bank account, get one. The rest have no need for a bank account and that is why they don't have one. My neighbors work online for USA companies via odesk.com and they have bank accounts. The poor, uneducated I encounter do not have any use for a bank account. I helped a lady who works 12 hours a day, 6 days per week in a factory to open a bank account with MasterCard debit ATM card, but she has never used for it. She is paid in cash and spends it locally for daily needs. Imagining market demand that doesn't exist won't help you. If we cut through all the bullshit and nonsense, we can distill down to an actual viable marketing plan that doesn't revolve around implementing everything including the kitchen sink before release. |
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You know why I really think you're not gonna leave - because regardless of whether or not Skycoin is invested in his current design, the glaring intelligence behind both of you has led yourself to wonder how skycoin came to a different conclusion than you did, even though you're both very much in tune with your motivations. You're both brilliant.
I am not wondering. I've seen him already allude to the overconcentration of the wealth among the rich and I detect already he is younger than I am and victim of Western culturalization that blames social decline on capitalism. Marxist/Socialists are entirely incompatible with me. I am here to make a profit, and to make something that people clamor for. Not for ideological bullshit. There is very strong likelihood that we have generational attitude incompatibility because I am X-gen which means traditional (non-liberal) values, free markets, a very acute distaste for bullshit, and strong affinity to "Just Do It" with minimal overhead. We X-gens were not spoiled and we just had to get shit completed without our parents. http://armstrongeconomics.com/2015/02/18/what-makes-me-tick-good-question/My father had taught me people will act according to what they believe – not you. In short, I don't want to waste his nor my scarce time. I've been watching this one since about march of last year, quietly .. and honestly was kinda hoping for about all that time you'd eventually take note of it.
I did see it a long time ago and dismissed it for the reasons I already wrote. I just didn't bother to comment publicly until someone asked me to. Again I've stated that doesn't mean I am correct. I've stated my opinion. |
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Cross-posting from the Skycoin thread... Gold price wont increase. Bitcoin wont increase. By the time this starts, the capital flows get cut off and there will be no money or capital inflows left to pump into the assets. All capital flows will get sucked in by extraction and a cratering economy. There will not be any hyperinflation. The prices may not increase until the chaos settles and economic growth resumes.
I roughly agreed with everything you had written, except for the clarification on Armstrong's model complexity, and I disagree with the above quote. That capitals flows will get cut off is a possibility and worth discussing. If that happens, even partially, it will surely have effects, Dark Age or not. You cannot just ignore it or declare it not so. I did not write that capital flows will not get cut off. They surely will! I wrote that it is very unlikely that capital controls are successfully enforced in every nook and cranny of the globe, such that all global wealth is destroyed and we go into a Dark Age where only food is money. As far as I know, that has never happened in recorded history. Dark Ages have occurred (where only food was money and all the gold and silver gets buried in the ground because it is useless), but they were always limited to a portion of the globe. Asia has no economic incentive to do capital controls, they are not bankrupted by huge government socialism and cultural decadence as the West is. Asia will cooperate with the USA and Europe to hunt down the non-Asians, for as long as USA and Europe remain important markets. But Asia will not and has no incentive to apply wealth destruction to its own citizens, other than going after corruption in government (e.g. coup in Thailand, firing 900 party officials in China, and the Napoles scandal in the Philippines). Rather it is launching free trade and migration Asian Union in 2015. Asia is moving the opposite direction, and is becoming more financially liberalized, not less. Skycoin was arguing that it was impossible for gold to rise because he was asserting that all wealth would get cut off. He was using that as a justification for why we need his Skycoin. I disagreed with him and also I think that is very pitiful marketing strategy. Good for a pump and dump on wide-eyed crypto zealots only. Rather I'd actually like to create something that normal people would flock too without any self-flatulating doom porn pumping. |
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It could just be considered being friendly.
Your "open-minded" attitude is a sign of decadence. In China, party officials are publicly demolished for immoral intrigue. Long gone is the era where doing something that could even be misperceived as immoral was considered a liability to public office. And long gone is the right to be politically incorrect on gay rights, feminism, etc..  |
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Gold price wont increase. Bitcoin wont increase. By the time this starts, the capital flows get cut off and there will be no money or capital inflows left to pump into the assets. All capital flows will get sucked in by extraction and a cratering economy. There will not be any hyperinflation. The prices may not increase until the chaos settles and economic growth resumes.
I roughly agreed with everything you had written, except for the clarification on Armstrong's model complexity, and I disagree with the above quote. That capitals flows will get cut off is a possibility and worth discussing. If that happens, even partially, it will surely have effects, Dark Age or not. You cannot just ignore it or declare it not so. I did not write that capital flows will not get cut off. They surely will! I wrote that it is very unlikely that capital controls are successfully enforced in every nook and cranny of the globe, such that all global wealth is destroyed and we go into a Dark Age where only food is money. As far as I know, that has never happened in recorded history. Dark Ages have occurred (where only food was money and all the gold and silver gets buried in the ground because it is useless), but they were always limited to a portion of the globe. Asia has no economic incentive to do capital controls, they are not bankrupted by huge government socialism and cultural decadence as the West is. Asia will cooperate with the USA and Europe to hunt down the non-Asians, for as long as USA and Europe remain important markets. But Asia will not and has no incentive to apply wealth destruction to its own citizens, other than going after corruption in government (e.g. coup in Thailand, firing 900 party officials in China, and the Napoles scandal in the Philippines). Rather it is launching free trade and migration Asian Union in 2015. Asia is moving the opposite direction, and is becoming more financially liberalized, not less. Skycoin was arguing that it was impossible for gold to rise because he was asserting that all wealth would get cut off. He was using that as a justification for why we need his Skycoin. I disagreed with him and also I think that is very pitiful marketing strategy. Good for a pump and dump on wide-eyed crypto zealots only. Rather I'd actually like to create something that normal people would flock too without any self-flatulating doom porn pumping. |
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Decadence. http://www.washingtonexaminer.com/joe-bidens-woman-touching-habit/article/2560311Joe Biden's woman-touching habit Vice President Joe Biden left some observers in and out of Washington aghast with his whisper-in-ear embrace of new Secretary of Defense Ashton Carter's wife Stephanie at Carter's swearing-in Tuesday. As Carter was delivering his first speech as Pentagon chief, Biden, standing in the background, put his arms on Stephanie Carter's shoulders and his face to her ear, apparently telling her something in what could reasonably be interpreted as an intimate embrace. A still image of the gesture shot around the social media world:  |
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we are doomed, iamback got ignored
Please. It took him over a year to even acknowledge that he was aware of skycoin, let alone have in-depth conversations and possibly working together all of a sudden now. I'd have brushed him off too. You've got that backasswards. I didn't need to come here. I was asked to. And now I am leaving. Not because Skycoin didn't say "how hi" when I said "jump" but because he is already invested in his current design. And I would be doing something different if I did an altcoin. I think we would waste each other's time talking. I am don't want people pressuring Skycoin. That is not how working relationships are formed. Again my best wishes to everyone. You have every right to proceed and I wish you well in your endeavors. |
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People instead tend to surround themselves with "yes men" who support their existing perspective and thus often do not maximize their success.
Skycoin you are doing exactly that... So these people who feel outraged at the idea that Satoshi's invention is being riped off by copycats and Satoshi's credit and legacy diluted, don't worry
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We know that a transaction network consuming less resources is possible
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And we know that technological evolution / progress will ensure that what is possible actually occurs
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The bottom line as far as this thread is concerned is that although blockchain technology has entered our technological genome for good, Bitcoin as its first instance is not here to stay and will necessarily be replaced by more advanced designs.
... via freequant That is a lot of self-flatulating bullshit. |
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My dream team would be mr. Skycoin + AnonyMint no doubt.  I just fear both are too perfectionists to get a project actually completed unless it's just perfect, and nothing ever will be. You misinterpreted my criticisms of other altcoins as being a perfectionist on shipping code. I ship first, perfect later. I don't mean ship buggy code, I mean perfect the feature set later. I am very perfectionist about shipping quality code, but I prefer to focus on a narrow set of initial goals. My comments about other altcoins were critical about trajectory and priorities. I prefer to focus on one killer feature that drives adoption, than to deliver a complete product that does every feature imagined to be important yet really aren't essential. P.S. I am not trying to pressure Skycoin. I was asked to comment here, so I did. I offered that there might be a potential for us to work together, but we would need to cover a smorgasbord of issues in private discussion to determine if we have that synergy or not. Note it is quite typical for programmers to want to have control and protect their baby and objectives. And sometimes there is justification for it. Any way, this is an example what we can cover in private discussion if ever. |
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So now that is enough posting here. I hope everyone can see why valuable time can be lost trying to convince others to adopt a certain perspective. People instead tend to surround themselves with "yes men" who support their existing perspective and thus often do not maximize their success.
If Skycoin is interested to discuss specifics, we can talk in BitMessage. Otherwise, I need to move on. My best wishes to all.
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Skycoin, I am guessing you need to snap out of a "single minded" paranoia and depression, so you can make more objective design and feature decisions. I think I can help you (have more balance) with this, as well sharing some appreciation for the paranoia. But it remains to be seen what is the chemistry between us if any. If you are interested, please contact me in BitMessage (send me a BitMessage public key in a private message) so we can discuss more openlycandidly than I am willing to in public. Gold price wont increase. Bitcoin wont increase. By the time this starts, the capital flows get cut off and there will be no money or capital inflows left to pump into the assets. All capital flows will get sucked in by extraction and a cratering economy. There will not be any hyperinflation. The prices may not increase until the chaos settles and economic growth resumes.
I roughly agreed with everything you had written, except for the clarification on Armstrong's model complexity, and I disagree with the above quote. What you wrote is true only if we collapse into a Dark Age, where only food becomes money as was the case in Western Europe after the fall of Western Rome and also in Japan. It is very unlikely we will collapse into a global Dark Age, because as I have explained, Asia is not burdened by large government liabilities and thus the wealthy will shift their capital there. Ditto during the fall of Western Rome, the Byzantine Empire rose. I don't think there is an example of a global Dark Age in the history of mankind? Afaics, this exemplifies why you need a very smart collaborator. You appear to be exceptionally smart in the math realm (I will need to confirm), but you are not "Big Picture" perfect. Genius is the ability to exclude the irrelevant from the relevant factors. However, I also agree "too many cooks can spoil the pot". So focusing and choosing limits of whom and what to discuss is also essential. Self-discipline is essential to success (was a trait I had in spades when I succeeded and that I didn't exhibit in my times of waffling and no results). During a crisis, there will be a shortage of capital inflows into financial assets.
The crisis in the rest of the world is driving capital flows into the USA which is driving up the dollar, USA high end real estate, and US stocks. This is Armstrong's capital flows model. This flow will apparently peak in 2016 or 2017, and the shift towards non-aligned, moveable Private Assets (gold, collectibles, Bitcoin) will accelerate. There will be a decline in the rule of law and ability to enforce property rights. If you can generate income from real assets, you will be limited in your ability to keep that income.
Agreed that will become increasingly the case in the West, but Asia is headed the opposite direction. I understand the elite in China and Russia have an incentive to align with the elite in the West in terms of creating a Technocracy slave model. But I want you to understand my model is the "bottom up is rising"[1]. The advantage of gold and bitcoin, is that the value endures the crisis until things settle. I cannot see a fundamental reason why their value would go up during the crisis or immediately afterwards, from a capital inflow perspective.
Because you are oversimplifying and not entertaining enough variables. The entire world is not monolithic. Also you seem to fall into the typical Western trait of seeing everything as a straight line and not as cycles. | | - http://armstrongeconomics.com/models/
In Asia cycles are part of the religion. Richard E. Nesbett wrote a good book entitled “The Geography of Thought, How Asians and Westerners Think Differently … and Why.” He attributed his work to a Chinese student who said: “You know, the difference between you and me is that I think the world is a circle, and you think it’s a line.” He goes on to quote him: “The Chinese believe in constant change, but with things always moving back to some prior state. They pay attention to wide range of events; they search for relationships between things; and they think you can’t understand the part without understanding the whole. Westerners live in a simpler, more deterministic world; they focus on salient objects or people instead of the larger picture; and they think they can control events because they know the rules that govern the behavior of objects.” Indeed, there is a substantial difference between the thinking process in Asia compare to the West. It is our goal to open your mind, and above all else, make you wide before your time. Understanding that the entire universe is constructed on a cyclical model where there are even 4 seasons, is the primary step in realizing that there is a whole new way of looking at the world, the economy, and life waiting to be discovered. - http://armstrongeconomics.com/2015/02/11/china-moving-to-replace-usa-as-financial-capitol-of-world/
China will become the new Financial Capitol of the World as the West destroys themselves with raising taxes to fund impossible governmental consumption of wealth. The simple math shows the West cannot possibly survive the conclusion of this Private Wave in 2032. China uses and believes in cycles. The West believes only in a straight line. - http://armstrongeconomics.com/2014/04/04/china-adopted-our-capital-flow-models/
Yes, I met with China directly and they had a printed copy of everything I ever wrote and read it. This is why they also came out and stated “we need each other” to the USA. That is a reflection of understanding capital flows and China will be the next financial capital of the world because the West is still defending Marxism.
http://armstrongeconomics.com/2013/03/04/china-moving-closer-to-floating-yuan/
People’s Bank of China (PBOC) will abandon a time-table approach to liberalizing China’s capital controls. Instead, they are adopting a series of reforms tied to dramatically rising foreign demand for yuan. This demand is rising as the US and Europe hunt down capital and are forcing banks to disclose everything everyone is doing to squeeze every last half-penny out of the private sector they can. This is shifting capital to Asia where the long-reach of the taxman does not stretch.
China is smart for when I was invited to Beijing to meet with the Central Bank during the 1997 Currency Crisis, I was deeply impressed that I was meeting with traders – not academics. China had sent their people to work on foreign exchange dealing desks around the world. I was surprised to have been asked to fly to Beijing since I was not an academic. To my shock, I was confronted with traders and they were light-years ahead of the academic curve. - http://armstrongeconomics.com/2013/05/02/asian-see-thing-in-cycles/
On the subject of AI, if biological intelligence is possible, what would preclude machine intelligence from being possible? I think it's rather early to suggest that strong AI is impossible, considering that we don't even fully understand how the human brain works. Sigh. You are entirely missing the point of entropy. How the brain works has nothing to do with the fact that every human brain is unique, because it's creator (procreation) was unique. We can program a computer to emulate any task we can define. But we can't give a single computer the same collective entropy of the human race. In other words, each computer program will be a reflection of it's creator and thus not omniscient. Computers can't become all knowing any more than one human can't become all knowing, because each human is unique and will do random actions, thoughts, emotions, etc.. It is this entropy which gives the human race resiliency for there is one or more humans able to adapt to each unique situation. Think about this. That evolution is slow and humans are slower than computers, is what enables the entropy to be greater. The smorgasbord has to simmer in the pot to produce the high entropy offspring of not only the genome but also the environment. Think about this. Because the speed-of-light is not infinite, it is impossible to be omniscient because remote information can't transfer in real-time to a single observer, i.e. an omniscient computer is impossible (incongruent with the fundamental structure of the universe). I made this point numerous times in my blog (<--- must read) and my other past writings. My blog explains why without friction (non-infinite speed-of-light) the past, present, and future would collapse into a single point in time, and we would not exist. Cycles (periodic waves) are a required outcome of friction. I cover that in my linked blog. This is why Armstrong's cyclical models are possible (the fundamental matter of the universe is periodicity). I (as AnonyMint) had a debate about this in the "No Money Exists Without Majority" thread.
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You need to learn to respect the maximum division-of-labor and not try to do everything yourself. Armstrong expended his entire life and $100+ million on data, so it is better to leverage his model than try to create your own. Focus on what you are most skilled and can bring to the market pronto. But also don't try to work with everyone simultaneously. This is too dilutive to your time and focus. There is a right time to work with others. There must be a priority queue. | [1] | CoinCube I have a different model of what is fundamentally changing, which is why I see China continuing to rise and Shanghai become the new New York of the financial world by 2032. You are modeling top-down metrics, e.g. the quality of the governance. I assert that we are moving into peaking government and top-down, debt-driven economies. What is rising to take it's place is the chaotic, leaderless, bottom-up Private sector. This is Armstrong's 51.6 year Private wave which will complete by 2033. Asia has governments which are 15 - 25% of the GDP versus 50 - 75+% in the West (and the West is in a cancerous spiral that will drive that figure closer to 100% before violence and break up of government ensues). http://armstrongeconomics.com/2014/12/04/china-surpassed-usa-as-largest-economy-by-output/ China has transitioned from a fully state micro-managed economy to a predominantly (75%?) decentralized bottom-up economy with the Communist Party only about 20 - 25% of GDP versus the Communist Party in the USA (Democrats and Republicans) being 50 - 75% of the economy (as I had extensively documented in prior posts). In the new China, you don't raise your head above the poppy seeds, and you are left alone to do bottom-up capitalism. Singapore is rising to be the London of the new financial world after the West collapses. Meaning more on banking and a haven for the wealthy. Singapore's population is small and it's domestic economy is not as significant as it's role as a banking and transshipment hub (to hide profits from the Communist Party). The top-down Communist Party is withering. The bottom-up (decentralized) capitalist economy is rising in its place. Decentralized crypto-currencies can rise along with this process if they are targeted to the correct expanding markets (not overtly[1] to anonymity which is probably unrealistic and targets those who want to store static capital that doesn't move and expand the GDP). Here in the Philippines the government is small and underfunded (only 16% of GDP), so you do what you want, even drive on the "illegal" side of the road and ignoring building permitting process if not in the city center, etc.. Don't miss the boat (or airplane or train). Trajectory is important. Don't stay stuck in the decadent West too long. Milk it while you can, but formulate a plan for the future and your children. The transition in the USA to a break up into productive and unproductive sectors is going to be lethal and impoverishing. Better to leave and come back after the fireworks. That is my plan. Singapore has very highly rated schools. If prefer a more Western culture that is aligned with Asia, then Australia and New Zealand come to mind, but emigration is expensive there. There is actually another option for emigrating to some other countries which doesn't require any money. PM me if you want to know. I won't be answering others who ask me, sorry. Example of Chinese research: http://armstrongeconomics.com/2015/02/09/we-may-now-live-for-200-years-omg-we-really-need-political-reform/[1] Anonymity by default (and optional) in crypto-currency that is not touted as its main feature might be tenable, and actually may be necessary to avoid the debilitating issue of tainted coins (destroys fungibility which is a critically required property of currency). I am still analyzing this from a technical, political, and marketing perspective.
I was aware of Quinn, and he is spot on correct and a much superior writer than me. I never claimed to be gifted in the literary realm (85 - 90% percentile only on standardized test, 99+% percentile in the abstract realm).
He and our comments have also missed the fact that even those not suffering from those impulses, are financially complicit (and historically bound) in the decadent system and thus also biased towards not recognizing this reality.
As the USA was expanding as an industrial powerhouse, with the Mississippi river and the canals and rivers from the East coast, along with coasts on both the East and West hemispheres giving it a geographical advantage in physical trade over Europe, Asia, and Africa, then we needed this low education workforce. Now the low-IQ melting pot has become an albatross, and especially as we move into the Computer Age where tangible goods are devalued.
Even very smart Americans have not accepted that geographical fluke has reached the end of its utility, and that the ideals they were ingrained with (e.g. pay your fair share for a better society) is exactly what is going to cause the spiral into the abyss (until they wake up due to pain and start the shooting wars to break up the USA into non-productive 3rd world and productive regions).
When Google moves its main office to Asia or is superseded by an Asian internet company, that will be a watershed event that confirms the end of the USA empire. One of the founders of Facebook already gave up his USA citizenship and attained Singaporean citizenship. And he paid a huge tax penalty in order to do that sooner rather than delaying.
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Cross-posting from the Skycoin thread... His model is ad-hoc, has too many variables and it works but you dont need more than nine variables.
Let's not lose too much time to somewhat off-topic tangents, but I just want to interject that Armstrong's model gives daily, weekly, and monthly trading information for numerous asset classes and even political economic issues. And the model has correlated repeating cycles (of human and nature) throughout recorded history. So he is able to make very time specific predictions, such as predicted the top of the Japanese stock market to the day and predicted the closing price of oil for Dec 31 2014. The government insurance pool will be underfunded and forced to do death panels and deny coverage for necessary medical procedures, like what is happening in the veterans affairs scandal.
I wrote similarly recently: ... This downward spiral for example reached genocide in Nazi Germany, because Hilter's Universal Health Care couldn't be funded, thus Goebbels created the propaganda excuse to exterminate the Jews, handicapped, etc.. The very wealthy can escape to alternative citizenships and position their investments and capital outside of harm's way. The middle class is trapped. (Note the USA will break up once the stage of violence is reached, and will not proceed to the abyss of genocide for those who have guns and/or organization. Those who don't have guns and remain within the bankrupt socialism cancer may experience eugenics, especially assisted suicide will probably become an option in the Obamacare at some point) Note my salient point (in my prior post) that the USA has a large productive private sector yet also a large underbelly. This implicates the USA is the most dangerous in terms of what is coming because it has to expropriate to fund that underbelly and it has the military and NSA might to do so...a wounded Godzilla is more dangerous than a healthy mouse... Here is Armstrong's post about that scandal: http://armstrongeconomics.com/2014/05/21/21188/ |
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His model is ad-hoc, has too many variables and it works but you dont need more than nine variables.
Let's not lose too much time to somewhat off-topic tangents, but I just want to interject that Armstrong's model gives daily, weekly, and monthly trading information for numerous asset classes and even political economic issues. And the model has correlated repeating cycles (of human and nature) throughout recorded history. So he is able to make very time specific predictions, such as predicted the top of the Japanese stock market to the day and predicted the closing price of oil for Dec 31 2014. The government insurance pool will be underfunded and forced to do death panels and deny coverage for necessary medical procedures, like what is happening in the veterans affairs scandal.
I wrote similarly recently: ... This downward spiral for example reached genocide in Nazi Germany, because Hilter's Universal Health Care couldn't be funded, thus Goebbels created the propaganda excuse to exterminate the Jews, handicapped, etc.. The very wealthy can escape to alternative citizenships and position their investments and capital outside of harm's way. The middle class is trapped. (Note the USA will break up once the stage of violence is reached, and will not proceed to the abyss of genocide for those who have guns and/or organization. Those who don't have guns and remain within the bankrupt socialism cancer may experience eugenics, especially assisted suicide will probably become an option in the Obamacare at some point) Note my salient point (in my prior post) that the USA has a large productive private sector yet also a large underbelly. This implicates the USA is the most dangerous in terms of what is coming because it has to expropriate to fund that underbelly and it has the military and NSA might to do so...a wounded Godzilla is more dangerous than a healthy mouse... Here is Armstrong's post about that scandal: http://armstrongeconomics.com/2014/05/21/21188/ |
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All I care for are objective attributes - logic, rational, knowledge, ideas, vision and progress.
I might disagree with you, but I respect your knowledgeable/ rationally structured input.
That is a very long and detailed article. My pleasure to become acquainted with you. I've been away from analyzing crypto-currency issues for the past few months, so I will need to reload the technicals in my mind, so that my posts will be more focused and astute. I began that process last night by running the various design options and issues through my mind while eating my dinner. P.S. It is unlikely that any of us would remain anonymous to the NSA if we were developing a serious altcoin. I think we need to be realistic about that. |
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plz join forces
I agree. the crypto doom porn is irresistable. incorporating too many conflicting opinions into a single project is not a good idea. Agreed. Focus is essential. |
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skycoin, you need to begin some where. Rome wasn't conquered in one day. There is one thing that needs to be created that is much more realistic and more needed than any other.
Decentralized crypto-currency is mostly a lie at this time (you want to dig into all the detailed pitfalls?). Coming to that realization was sort of depressing but necessary in order to get my priorities sorted. And getting from here to where we need to be isn't going to be accomplished in one chess move.
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If there is a fork in the chain, it just copies the transactions over from the other chains.
PoW can do this too and (probably) with similar limitations. Bitcoin is doing 100 million dollars a day transaction volume. Total transaction volume in Bitcoin is about 200,000 Bitcoins. Bitcoin has transaction malleability, this means that if someone 51% attack and rolls back transactions in the last hour, then about 4 million dollars and 10,000 Bitcoin in transactions balances will be screwed up. A rollback attack going back 24 hours could be 100 million in damages and up to 200,000 Bitcoins. An attacker can roll back any transaction in Bitcoin.
I had linked to the math of my solution to short-term (rented hardware) 51% attacks for PoW. Long-term 51% attacks are not a threat, because the community will organize against them politically. The Skycoin consensus algorithm and the ledger are separate. The consensus system is modular and can be swapped out. If there is a better algorithm five years from now, we can just swap out the consensus for the new one. The ledger and coin balances will be completely unchanged.
Ditto for PoW altcoins, so why not start with PoW first since it is more proven? If you are counting on the consensus algorithm driving adoption of your coin beyond a limited set of hardcore zealots, I think you have not done your marketing research. Also I have some mathematical intuition that avoiding the 51% attack will always tradeoff security in another facet.
It is 100% true. There are severe tradeoffs. There are tradeoffs, faster consensus times for Skycoin type relational consensus means that a smaller number of nodes are required to DDoS the network. However, people can react and remove the nodes from their trust lists. There will be issues and they will need to be worked out.Exactly. Skycoin
- fixes existing problems with Bitcoin
- future proofs Bitcoin
- eliminates the death spiral conditions that Bitcoin has engineered in
Yawn. This is an example of how to NOT do marketing communication. For #1. If people are not using it because it is useful and because It meets a need they have, then its useless and no amount of marketing will ensure adaption.
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Bitorrent did not succeed because it was the best marketed program.
Correct except you seem to not understand that marketing research is part of the process of making sure your product fulfills critical need in the market. Marketing is not about hyperbole salesmenship. Marketing is about research, planning, and strategy. - Why would someone use Bitcoin over using a credit card?
- Why would someone use Bitcoin over fiat, when a stable currency like USD is available?
 That is marketing. The way I see people using Bitcoin, the new users and how they trade back and forth between Dogecoin, Litecoin and Bitcoin and thrive on volatility suggests a gambling, fantasy football like behavior rather the use of Bitcoin/alts as a tool for facilitating real economic exchange or production.
One man's game is another man's profession. Any activity that people spend money on is bonafide, but we also have to ask is it sustainable (e.g. productive). Look at Skycoin Coinjoin
CoinJoin doesn't scale and/or it leaks anonymity (e.g. to the masternodes). It is not an autonomous block chain mixing thus it is inferior to one ring signatures. One time ring signatures can be implemented to be prune-able. Bitcoin and Dogecoin are the only assets that the government cannot seize.
I disagree. The governments can regulate (51% of the network hashrate) the non-anonymous miners, then they can control which traceable coins can not transact. When you are ready to get serious, send me your BitMessage public key. |
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