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1081  Bitcoin / Bitcoin Discussion / Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud) on: December 18, 2015, 09:46:06 AM
Quote
An anti-fragile, censorship-resistant money ought to have no single points of failure and no central authority. The state isn't the only center of power in society. Concentrated private capital is another, and in many ways the state is our protector from its excesses.

What kind of governance model do you think is best suited to protect Bitcoin from abuses by private capital (corporate interests)?

Craftily selected the wedge issue of governance and placed capital corporate power versus State. Knowing full well tvbcof has expressed anti-capitalist sentiments in the past?
1082  Bitcoin / Bitcoin Discussion / Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud) on: December 18, 2015, 02:51:07 AM
Who could have thought the governance of an open-source protocol would be so political...
Because it's money, people will lose their mind and become animals when money is involved  Cheesy
People are political animals. Money is power, and Bitcoin changes the fundamental nature of money.

Quote from: Aristotle
Man is by nature a political animal.

The centralization of the knowledge is the problem here, if everyone could easily understand what is going on then there will be no problem, so it is extremely important to keep the solution easy to understand for majority of users, e.g. decentralize the knowledge. And from this point of view, 2MB block is the most viable solution that can be understood by majority of users

The problem seems to be that the number of vocal users outweighs the IQ and experience of the node operators. A type of "Long September" effect as bitcoin edges into the mainstream. In earlier times there was never any disagreement on the way ahead because it was logically apparent to all concerned (not that many of us).

It's the flaw of democracy when you let it run it's natural course, you end up with things like politicians legislating the numerical value of Pi.
1083  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 18, 2015, 12:35:19 AM
UPDATE: SwampNode is up and running BitcoinXT on dedicated hardware. If you have a better solution, I'd like to hear it, but it had better be soon. We're getting full blocks daily now. Before long it will be hourly and then every damn one.  You can imagine what happens to bitcoin price when the only offramp from the exchanges is fiat. Only it won't just be one exchange. It will be all of them.

You seem alarmed. 3 of 5 core devs are (I believe) in principle opposed to bigger blocks, and are by conflict of interest disincentivised to buckle. Problem?

This is wrong, (intentionally?).

The five core devs with commit access were:

Gavin A.
Greg M.
Jeff G.
Pieter W.
Wladimir vdL

Only 2 of 5 have now an affiliation with a commercial enterprise. Now Greg has rescinded commit access that is 1 of 4.

The technical problem of how to establish a fee market for future security has still not been solved. Hard-forking before a long-term solution gains broad consensus is dangerous.

Gmaxwell's roadmap for increasing the network capacity has good consensus and is the most logical way forward. Solutions for the long-term will gradually become more apparent as it approaches but a better solution is always only 1 lightbulb moment away. Discounting human ingenuity in favour of mediocre workarounds will doom you to losing money.
1084  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 17, 2015, 11:37:26 PM
I'm a firefighter. You can't put out a conflagration with a garden hose, no matter how much water you have in the tank. Capacity matters.

As a firefighter, do you also have cantankerous, intransigent, opinionated positions on technical details of the electricity network grid, the railway network, the telecomms infrastructure or interstate traffic systems?
1085  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 17, 2015, 10:20:12 PM
ok ... the overnight model runs are in and the news looks good.

456 was expected to be an important number and looks to have confirmed. 500 is a pressure point but not an important number as such, 600 equally weighted.

620 is an important number ... strangely there doesn't seem to be much else between ATH 1250 ish (pressure point) and then important number 1666!
1086  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 17, 2015, 10:17:20 PM
Back when Proudhon was the resident shitposter

I wonder what happened to him

 Cry

IIRC, Proudhon said he'd found all the trolling he was doing had an unfortunate effect on him and decided to stop. Rather respectable, really.

haha, he trolled so hard he actually turned himself into a bitcoin hater ... and then hated himself.
1087  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 16, 2015, 09:00:13 AM
buy the dips, kiss.
1088  Economy / Speculation / Re: New hype cycle starts at $1000. Everything before that is just a warm-up. on: December 16, 2015, 01:13:35 AM
we'll likely go past the gold price before hitting the new ATH this time around. Probably more hype cycles in there ...  Roll Eyes
1089  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 15, 2015, 11:33:54 PM
You worry too much. Angry

... it's know as concern trolling in the business. She doesn't actually care, she's just here to deceive with FUD through feigned of "worry' and "concern".
1090  Bitcoin / Bitcoin Discussion / Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud) on: December 15, 2015, 10:14:27 PM
Quote
Bitcoin does not scale efficiently, but it certainly can scale. We just need to increase the blocksize. To answer your question, this does require a hard fork, hard forks are the only way to increase the blocksize.

Hard forks are also an important governance mechanism within Bitcoin which allow us to resolve fundamental differences and disagreements, even if that might mean splitting Bitcoin, at least that is better then tyranny of the majority.

... these are your talking points, and the limit of your understanding of what you think you know about bitcoin, let alone anything of the technology.

You are doing an admirable job of banging on incessantly, in the way of propaganda, upon these points but nothing else, nor adding to any solutions. Go invent your own altcoin if you hate the Core developers with such venom.

Engineering projects are inevitably the worse off when politicians and lawyers try to politicise the technology. If you want to use a monetary system that has been politicised and legislated to death, use the US Federal Reserve's debt notes system.
1091  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 15, 2015, 09:53:02 PM
...
How secure should the network be? What's the sweet spot between cost and security?

The 'optimum' network security level is a variable that should increase with an increase in network value, since it is safe-guarding more as value increases.

We're currently paying ~10% of the network's worth, per year, to secure it. In other words, we're paying $1 to store $10 for a year.

1. Is this optimal?
2. If a bank charged you 10%, yearly, to store your money, would you use it?

... you've conflated the issuance of scarce tokens, that will be in circulation in perpetuity facilitating all future transactions, with the cost of securing of the network.

Cost of issuing tokens, you say? OK, I'll rephrase:
Would you use a bank which charged you 10% of your balance, yearly, to secure your money & print 'USDtokens' (which it would distribute to people other than yourself)?

If they could cryptographically prove they were only ever going to issue 21million of those USDtokens, and that proof was backed by the security of the largest distributed hashing power on the planet, maybe I would.

And if they just said "look, it's not in our best interest to ever issue more than 21M tokens, because reasons," would you still?
What if their word was backed by a shitton of Chinese hardware, capable of doing one thing and one thing only, and already nearly obsolete?

... now you've gone so far into hypotheticals that your analogy has been stretched beyond its usefulness and your arguments are simply ridiculously incomprehensible.
1092  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 15, 2015, 09:34:10 PM
...
How secure should the network be? What's the sweet spot between cost and security?

The 'optimum' network security level is a variable that should increase with an increase in network value, since it is safe-guarding more as value increases.

We're currently paying ~10% of the network's worth, per year, to secure it. In other words, we're paying $1 to store $10 for a year.

1. Is this optimal?
2. If a bank charged you 10%, yearly, to store your money, would you use it?

... you've conflated the issuance of scarce tokens, that will be in circulation in perpetuity facilitating all future transactions, with the cost of securing of the network.

Cost of issuing tokens, you say? OK, I'll rephrase:
Would you use a bank which charged you 10% of your balance, yearly, to secure your money & print 'USDtokens' (which it would distribute to people other than yourself)?

If they could cryptographically prove they were only ever going to issue 21million of those USDtokens, and that proof was backed by the security of the largest distributed hashing power on the planet, maybe I would.
1093  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 15, 2015, 09:09:02 PM
...
How secure should the network be? What's the sweet spot between cost and security?

The 'optimum' network security level is a variable that should increase with an increase in network value, since it is safe-guarding more as value increases.

We're currently paying ~10% of the network's worth, per year, to secure it. In other words, we're paying $1 to store $10 for a year.

1. Is this optimal?
2. If a bank charged you 10%, yearly, to store your money, would you use it?

... you've conflated the income from the issuance of scarce tokens, that will be in circulation in perpetuity facilitating all future transactions, with the cost of securing the network.
1094  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 15, 2015, 08:50:54 PM
Wha wha wha so many whiny bears, you carry on talking about irrelevant bids and asks and ignore the bigger picture, be my guest. But but blocks lol

Halving.
Difficulty increase.
Increased interest.

These are things that are affecting price. I fully expect to see nearer to $100mil in leverage longs when this really starts bubbling.

Good point. Because everyone wants to use a currency they can't use because it doesn't work Smiley

It works perfectly. You'll need to pay for what you use (the most secure system in the world). Full blocks is good foor Bitcoin as miners will get rich and start competing each other even harder for the spoils (and hence increase the security further).

Why cant anyone see this? It's so obvious.

How secure should the network be? What's the sweet spot between cost and security?

The 'optimum' network security level is a variable that should increase with an increase in network value, since it is safe-guarding more as value increases.
1095  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 15, 2015, 07:01:22 AM
TERA : the walls have changed a lot since you've been gone ... they are totally fake now and change in the space of minutes and seconds even.

Some guys had a massive bear whale wall on BearStamp for almost 18 months, it sat just above the ask and moved around all the time but never went away ...

wall observing is just a joke now, so we get this comedy show here ... but damn some of the wordsmithing and gif selection is just choice and funny as hell.
1096  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 15, 2015, 03:23:24 AM

Somebody who lost 30 grand would not be asking this forum what to do.  

Yep... hahahahahaha      Cheesy Wink

seems kinda  1)   troll-ish, 2) made up or 3) retarded  

Or 4) a kid who thinks being a trader is cool.  Smiley

That would fall under the category of "retarded."    Wink Wink

Call me a liar all you want, it doesn't change the fact that I have been in this game since 2011. I mined over 3000 bitcoins with the array in this video. I am the owner of the ROBOT-ARMY, which was in the top 10 mining arrays on deepbit. I was running 14GH in 2011.
Why does it surprise you that someone that lost 30k on a bogus exchange would be here. In bitcoin world, 30k is peanuts.
https://www.youtube.com/watch?v=-mR_V90AgL4

Nobody here is calling you liar.

Its just your attitude that is very competitive and arrogant that doesn't seem to fit others. Including me.

How much nicer can I put it?

... when you've been through the crap and had the FUD thrown at you we have bringing bitcoin into the world you'd have some attitude too ... 14GH in 2011 is pretty respectable, i knew i liked this guy.

bitcoin ain't for wimps, never has been.
1097  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 15, 2015, 03:20:38 AM
https://bitcoinity.org/markets/localbitcoins/USD
1098  Economy / Speculation / Re: 57 bitcoin... will I have 6-figures in my bank acct by end of 2016? on: December 15, 2015, 02:45:42 AM
NO. You will only have 2 figures in your btc account 5 and 7, because you will absolutely not want to trade your bitcoin for fiat (or have a bank acct.) when they are worth 6 figures in fiat.
1099  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 15, 2015, 02:43:21 AM
http://lists.linuxfoundation.org/pipermail/lightning-dev/2015-December/000384.html

Quote
We (me+Tadge+Joseph) are planning on publicly releasing our in progress implementation of Lightning, sometime near the end of this month (December)
Smiley.

bullish

the pace of development is just insane now. These kinds of things you think to yourself "someday somebody might figure out how to do blinded transactions routing for instant payment using channels" ... and then bang!, there it is spelled out and being implemented.

TOR-like Lightning transactions, fungible, private, instant and increasing network capacity thousand-fold. I'd say, yes, bullish.
1100  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: December 15, 2015, 01:49:33 AM
If I lose a bunch of money on a bogus exchange again, I will quit bitcoin for good.
This shit is fucking unacceptable.

ha-ha.
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