we're going to be sooo rich

But what before even that? It was 4$ and 5$ before going up to 17$. Everything has to start at some point. I think the time is ripe for some slow but sure constant rising. It's been a while since we last had anything like that. According to probability theory, it should happen any time now, any time. Now.

Of course I'm not sure and I exaggerated as the rise could be different. The point was that a slow but steady rise has been noticed lately. I remember that it started at 229, then it was at 230 for a while without going lower nor higher. Today it's 233 already. I can remember such slow and steady long term rise from the beginning of 2013 and also before and during the Summer 2012. If I was a whale this would be one of the strategies I could use --- accumulate very slowly so that it would be difficult to say in the news "bitcoin suddenly rose 20%" or something like that.

Slowly but surely we are rising, 1$ per day. Soon everyone notices it and then the rally will speed up fast



We need to break ~237$ this week for the weekly pSar to flip, this is very close

Satoshi's PoW was very good for the initial distribution of coins but only for that. I don't support 100% PoS coins at all, that's the reason I hate NextCoin for example because 100% PoS is corrupt and unfair distribution. However, a hybrid between PoW and Pos (such as Peercoin) is the best approach. You have the coin slowly transforming from PoW to PoS over time. To put it into the context of Bitcoin, now would be the time when we should start seeing PoS blocks around and perhaps over the next 4 years PoS mining should become dominant to PoW mining.

A hybrid PoW/PoS mining model gives us the best from the both sides. It's the fairest initial coin distribution and energy efficient in the long term. As a bonus it makes network development decisions much easier to have a PoS coin because in PoS mining the miners and coin holders are the same people, so they can use their private keys to their stash to vote democratically what protocol changes to implement and what not.

They are encoding messages into coinbase which is what only miners can do. Currently cryptograffiti doesn't even attempt to decode coinbase messages because miners put their names and some other meaningless spam into it. Perhaps in the future, if we figure out how to avoid spam in coinbase, we would start monitoring the coinsbase messages too. Or perhaps the coinbase messages should have a slightly different monitoring mechanism that is more spam tolerant. I will have to think about it. I think it's a good idea to also start monitoring coinbase messages with cryptograffiti even though regular users wouldn't be able to save such messages.

That's why I support the idea of getting rid of the Proof-of-Work mining altogether and replacing it with Proof-of-Stake. Right now miners are parasites to the network. The only owners of the network are actual bitcoin holders.

Rally confirmed: tonight I had a dream of BTC price making a sudden upward move and then went full retard going massively UP UP UP, breaking the barrier of 240$, making the weekly parabolic SAR turn into full bull mode.

I feel no empathy for the miners for their expensive ASICs that will become worthless if we changed the protocol accordingly. The only thing that has any value in any debate about bitcoin's future is the number of coins you have because you can sign your opinion/vote with the private key to your coins and we can calculate the sum of votes in a democratic way. That said, I'd prefer to see bitcoin evolving and competing rather than stagnating.

Bitcoin should switch to PoS mining because then miners and stakeholders would be the same people and it would help to come to a consensus with much less effort in the future. Stakeholders would then be the owners of Bitcoin and it would solve every fucking problem we currently have due to not having a clear authority to decide which way to go.

Once I have received my blockshares, should I start mining right away or wait until someone publishes their data feed for voting?

It can in a sense that if a drone gets hacked and is sent to kill some civilians, for example.

Bitcoin has the technical capability to have a provably fair stakeholder voting on its very block chain itself. I can sign my vote with the private key to my X% of bitcoins and publish the vote with the signature. If everyone did it then we could come to a consensus with decentralized and provably fair means. I wonder why hasn't this been put up very much. Who gives a shit what miners and companies think. It's the number of bitcoins that you have which should count as a vote. If a miner wants to vote then they should use their coins to vote. If a company X wants to vote for Bitcoin XT then they should buy some bitcoins to make their vote count.

So what are the recent news?

I am voting for XT under the assumption that THE ONLY THING they would do is to increase the max block size from 1 MiB to 8 MiB. If there anything else they want to implement as a part of the hard fork then I might not vote for XT. This poll sucks in a sense that it is unclear what XT would specifically introduce.

I enabled OP_RETURN decoding for http://cryptograffiti.info/paystamper/ yesterday (refresh the page if you have it in cache, the version in bottom right corner should be 0.93). Just go to the monitor tab and monitor this address: 14E6WJjQbzBgxQ2LhjWehWVF9iNY191SRd. You will see this text "ascribe is hiring! ascribe.io/jobs" which is actually written after OP_RETURN (you can verify it from blockchain.info). However, currently only paystamper part of cryptograffiti is able to decode OP_RETURN messages. I hope bitikunn will implement it to cryptograffiti's read tab soon.


I have thought about enabling https although I'm not a big fan of it. Cryptograffiti actually supports application layer security but we haven't enabled it for the end users yet because it might not be so important. HTTPS could already be used to fetch the web page itself (using a self signed certificate) but for some reason I have made it to automatically switch to http. Perhaps because browsers are quite racist against self signed certificates.

I also support the idea of hosting cryptograffiti as an I2P or Tor hidden service. Alternatively, it could even be hosted in the torrent network, IPFS or Tahoe's P2P data storage platform. Cryptograffiti is already able to detect end decode JPG images from UTXOs so the clearnet cryptograffiti could at some point become controversial if someone decides to store CP images in the block chain. Should such a thing happen we would disable the automatic decoding of foul images. The hidden service version should be free of such censoring but for the clearnet one I'm just worried about my own ass

To look even farther into the future, I would add more coins to the service. For example, a coin such as dogecoin with really cheap TX fees suits better for storing custom data. I would also like to get rid of the blockchain.info API's dependencies at some point to become autonomous.

Speaking of being autonomous, cryptograffiti has the potential to become a DAO (distributed autonomous organization) similarly to NuBits, B&C Exchange and Teehe). It would earn its revenue from the paystamper-like service that encodes your data for you in the block chain for a small fee. With the help of PeerShares it would be easy to distribute dividends and pass motions about how to enhance the services. It's clear that developing it from our free time as a hobby makes things rather slow to progress. If there is enough investor interest, it could be turned into a serious project and I wouldn't be against it. After all, there is a clear need for a service such as cryptograffiti.

Former NSA intelligence analyst John Schindler says a senior NATO official warned him, "we'd probably be at war by the summer, if we're lucky it won't be nuclear."
https://www.youtube.com/watch?v=hUYx6kLZeK4

Also, some Texan dude from Ixia said in CyCon last week that there will be a major cyber conflict event this year with human casualties.

All this in alignment with Jade Helm, NATO military exercises, California drought (possibly geoengineering) and chemtrails appearing as far as in the sky of eastern Europe lately.

If bitcoin's price was to go to the Moon again then I'm pretty sure it would correlate with some other grand scale events.

Lord Falllling, show us your omnipotence and smite all the heretic priests. Banish them from the bitcointalk forums so that only you and your followers would remain.

There are alts that can't do such a thing for valid reasons. For example, it doesn't make sense to distribute nubits amongst all bitcoin holders just because they hold bitcoin. However, in many cases alts could have used such a wealth distribution. For example, in the case of dogecoin, litecoin, ethereum and namecoin.


PoS is much more secure because it's cheaper to buy the majority of mining power than buying the majority of all coins. Can you imagine someone trying to buy more than 50% of all bitcoins right now? The price would just go so high that it wouldn't make any sense to buy them.

How many coins Satoshi supposedly has? A million? It's less than 10%. He wouldn't be able to do anything with less than 10%. Also, I don't support pure PoS such as NXT. Pure PoS is weak but a hybrid such as peercoin is the real good solution. Peercoin started as a PoW coin but over time PoS mining was set to become more profitable than PoW mining. The reason for this is that PoS makes the coin weaker in the very beginning because then it is easier to hoard more than 50% of the coins (as it was with nextcoin). However, after enough coins has been distributed conventionally (using PoW) it becomes safe to switch to PoS mining.

edit:
I now switched my vote back to XT since Gavin admitted that 20 MiB was based on wrong calculations. I support increasing the max block size to 8 MiB as a means to postpone the problem for 4 more years and thus give time for the lightning network and similar solutions to be developed.

I'm slowly getting worried that even though BTC will perform very well this year it will not be because bitcoin is so awesome and its opponents suddenly start to see the light but instead because some large scale shit will happen that brings down the conventional markets. When bad things start to happen they will happen all at once. Yes your bitcoins will be worth millions of dollars but at what cost? at what cost?

Yes, I wouldn't lower the 10 minute confirmation time. Too much hard code has been written under the assumption that 1 block =  roughly 10 minutes. You can accept pending transactions but only deliver after enough confirmations has been received. it can be solved outside the block chain by merchants.

Bitcoin has the perfect wealth distribution. All altcoins who started a competition against bitcoin instead of taking a snapshot of btc's ledger and using the same base wealth distribution made a wrong, greedy and selfish decision. To punish those alts for trying to compete with bitcoin with their petty little enhancements I would suggest upgrading bitcoin over time to support hybrid mining ( PoS + PoW similarly to peercoin ) and block chain based stakeholder voting similarly to peershares. This ASIC centralization should be terminated and replaced with PoS mining which is much better security model.