What will happen? Absolutely nothing. Bitcoin was meant to be decentralized and open this seems to be quite the opposite imo
And it still is, but that doesn't mean groups of people can form their own boys club. Let them have their secret meetings. It doesn't matter. They are probably discussing developing the infrastructure further. Its a meeting of smart people. They are already making money with theiur existing ideas, and don't need a meeting just to make more. they could have had the meeting on skype if they wanted to ,just because the venue is a remote island doesnt make much differnce IMO it may be to address important issues such as switching to the incoming hard fork and other things that need to be in sync i would assume they all want to switch to the new fork at the same time to prevent transaction mixups at the exchanges and all sorts of important shit |
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Anyone looking to get their head around how the next round of the Crisis will look should consider what’s happening in Europe today.
Europe is ground zero for the whole debt bomb implosion, not because it has the most debt but because it’s politically and economically on the least sound footing.
Some 19 countries share the currency, all of them in varying degrees of socialism (the public sector accounts for roughly 1 in 3 employees in Germany’s allegedly “free market” economy), and varying shades of broke: even Germany a real Debt to GDP of over 200%.
In this regard, Europe gives the rest of us a front-row seat to learn how things will unfold when the real stuff hits the fan and the political and financial elite are at risk of losing their power and wealth.
We’ve been through this mess multiple times in the last three years. The most notable cases involved Spain and Cyprus. And the formula is as follows:
1) A problem first emerges.
2) Various political and financial officials state that the problem is contained and there’s nothing to worry about.
3) Months later, the market and mainstream media catch on… usually when the problem is already a massive crisis and a bank holiday needs to be declared.
4) Individual investors lose a LOT of money while the same folks who cause the problem A) are not fired, fined or jailed B) never come clean about the full scope of the problem and C) claim that they can solve the problem and have all the answers. More... http://www.zerohedge.com/news/2015-02-08/template-how-next-crisis-will-unfoldpractically every country is "bankrupt" for lack of a better word ........  japan has a debt to GDP ratio of nearly 250% yet nobody is starving there ? how come ? they are a fine example of how to go deep into the red and not worry about it 54% of total global foreign investment in thailand is from japan $1.2 TRILLION of the US national debt is owed to japan the prime minsiter of thailand is going to meet the premier of japan to seek investment funding for a new high speed bullet train from thailand to burma (which will cost a shitload ) if Japan is so broke ,how can they keep lending huge sums of money to other countries that are also broke ? ironically ,the countries with the least national debt are mainly 3rd world african nations seems like the entire western world is living on "borrowed credit " but for how long until the music stops ? |
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considering that McDonald's credit cards payment's processing is the fastest in the world, no one would prefer BTC over cards.
the name speaks for itself...it's FAST food
its not always fast ......ive had to wait 3 minutes sometimes when theyre run out of bigmacs or fries  |
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yes.. 10K by 2020 is possible... It could be a bit longer though... just sit tight and HODL!
if everyone just hodl's the price will stagnate people are afraid to spend a btc today in case it "goes to the moon tomorrow " they dont understand that for it go to the moon ,you need to keep spending it if i buy a coin for $300 and the next day its worth $200 do i spend it or wait until it goes back to $300 or more ? you should spend it at $200 and use cash to get a new one for $200 thats how the value will go up and your remaining bitcoins will have a higher price in the future everyone can not sit and hodl and expect the value to raise by magic ,it makes no sense ........ mt gox pumped that crazy spike up to $1200 with fake trades ,there is too many people watching so that shit isnt going to happen again |
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Could anybody in here, just tell me, what is so bad about this meeting?
What outcome do you fear? What can this "elite"-group really do that will hurt Bitcoin so much?
they could pool their combined resources to swing the price any which way they want and reap huge profits from the unpredictability they cause in the market ,thats only one of the damaging things they could do they could do quite a lot of damage if they have the majority of the btc whales on board ,especially the exchange owners who can transact for free with other peoples coins ,they are the most dangerous IMO |
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Doubt it will have negative effect on price, since we are allready down too much, but who knows, maybe there will be yet another dip before we start going up again. Dont be mistaken, bitcoin is decentralised, and theese kind of elites will disappear with time as bitcoin get more widespread. cheers whales will still be whales ....... bitcoin will never be distributed equally or fairly amongst the 7 billion people on earth just like every other wealth or resource on the planet ,top 1% will control most of it the whales with 500k btc arent going to just disappear ,there will always be the welathy exchange owners,investment capitalists and such people who get a % of every trade so there will inevitably be a huge ever widening gap between the rich and the poor just the way the world goes around folks ......... |
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"TOR" is shorthand for low-bandwidth connections, whether privacy-enhanced darkweb internets-within-the-internet or plain old slow DSL.
You need to keep up. This has already addressed here: I view this as paranoia. While you and tvbcof are using lots of services outside of TOR you don't want to use Bitcoin outside of TOR. Why don't you try to impose TOR on all websites if we are at this subject? Only limit only to Bitcoin? Why should the network comply with your view and fears? Why don't you let the network decide this as it should happen? Concern for low-bandwidth DSL and hardened TOR-like connections wasn't limited to tvbcof and myself. It was also voiced by TF and Theymos. Why did you edit that part out? Here it is again, with red bolding to help you learn. Perhaps this time you'll be able to read, and maybe even respond, with on-point arguments rather than personal attacks like accusations of "paranoia." Exactly what block size the network can support is very much debatable. I currently think that 10 MB would be fine and 50 MB would be too much, though these are mostly just feelings. There should be more rigorous study of the actual limits of the network. (Gavin's done some nice work on the software/hardware front, though I'm still worried about the capabilities of typical Internet connections, and especially how they'll increase over time.)
Exactly. 30 kBps upload is common in Australia, and you sure should be able to run a full node in a typical internet connection in Australia, or Brazil, or Philippines, or whatever. The block size needs to be useful for the (lowest reasonable) common denominator, not the median.IMO 10 MB is too much, maybe 5 MB. youre missing the whole argument ,every bitcoin user in brazil ,phiilipines or australia doesnt have to run a full node thats what lightweight clients are for even a 10 year old computer on dial up could run multibit or a lite wallet i visit a lot of countries around the world and some of them have suprisingly fast internet http://www.netindex.com/download/allcountries/ |
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What is the current rate of HUGE? What exchanges trades with them?
shitcoins are not worth shit ,the clue is in the name |
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I could take something HUGE about now.
this is not the correct forum to talk about your love of anal sex ..... |
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it has to happen ,most of the anti crowd are pimping alt coins anyway that have no signifigant value
almost everything an alt can do ,btc can be programmed to also do ......
it has to happen, that the people who doesnt want to destroy Bitcoin with a useless hardfork atm, are not blind by veils of greed and world domination and happen to enjoy true freedom of choice. hope you like my sub-avatar text, its in homage of you paranoid schizos that think altcoins are out to get you. get a grip, you people cant even quote who disagrees with you anymore. your argument is already null and void when your pimping ripple in your sub-avatar text You need to be a bit more subtle and btw GTFO ........... we dont need you Its not ripple its monero... and I'm not going anywhere. Smiley Actually you are going somewhere .welcome to my ignore list  |
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I would eat a crappy chicken sandwich sand fries from them to support this if it happens. I know people say this drives the market down, but long term this is turning into a legit alternative currency option.
Posted From bitcointalk.org Android App
Would eat some crappy potatoe fires from them too if they had accepted Bitcoin. i think they should jump on it ,think of the userbase and its all profit from a new community of food eaters people on localbitcoins would meet in mcdonalds to do trades etc and likely have buy food or drinks there if burgerking or KFC does it first it will just make them look silly adding it 6 months later ,mcdonalds should be the leader of the pack and then the rest will follow |
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it has to happen ,most of the anti crowd are pimping alt coins anyway that have no signifigant value
almost everything an alt can do ,btc can be programmed to also do ......
it has to happen, that the people who doesnt want to destroy Bitcoin with a useless hardfork atm, are not blind by veils of greed and world domination and happen to enjoy true freedom of choice. hope you like my sub-avatar text, its in homage of you paranoid schizos that think altcoins are out to get you. get a grip, you people cant even quote who disagrees with you anymore. your argument is already null and void when your pimping ripple in your sub-avatar text You need to be a bit more subtle and btw GTFO ........... we dont need you |
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So disappointed...it was not btc so what mcdonald accepted after all? apple pay or something like that. if they did an exclusive deal with apple-pay or some other crypto i will not eat their shit again not that its worth eating anyway ,but we all make stupid choices sometimes |
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it has to happen ,most of the anti crowd are pimping alt coins anyway that have no signifigant value
almost everything an alt can do ,btc can be programmed to also do ......
+ the benefits of being first and having all the mainstream retailers on board.........that shit takes years to get done
nobody wants 600-700 new altcoins to handle transactions deemed to be "small"
just fork the new software already and people will start downloading it and wont even notice the differnce
the network isnt going to jump from 33GB to 1000GB+ overnight ,that would take millions and millions of transactions, this argument is just stupid .......
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I feel that this guy was lying. he is a newbie, and so i dont believe him to have 180BTC with him.
I feel that he just wanted to thug cryptsy by making false claims.
If that was true, I am sure we would have seen Cryptsy Comment on the thread on Reddit. It was on the front page for a long time. even if it wasnt true ,they would still need to issue a comment on it ,prefarably ASAP in their own interests ............. |
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I see a lot of problems with a 20MB block.
The blockchain database could grow to 1000GB instead of 200GB per year.
Blockchain spam could be a much worse problem.
If the bitcoin decentralized database grows too big it will be more centralized, centralization is a very bad thing.
The blockchain security will be weaker, as the block reward for miners halves, and miners have to depend more and more on mining fees instead of the block reward, by having a 20MB block there will be little motivation to pay any transactions fees at all, causing lots of miners to quit weakening security. With a 1MB block if you are buying something that represents a large amount of money like a car, house, computer, etc you will be motivated to pay a higher fee for a quicker transaction, and for a micro transactions representing something of very little value, it will not be a problem if you have to wait a longer time than usual for a confirmation to confirm the transaction, but on the other hand for a transaction with a tiny value for example a 1 mBTC if you do not wait for confirmation the risk is little do to the amount.
In the very futuristic event that a block were to be generating more than 25 BTC in rewards based on fees, this would imply a large fee to get the transaction though in the next block in such an event it could be considered to increase the block size only and only if the current block size would become a problem.
But as things stand now, 1 MB block limit is not a problem, and in the near future it will help secure the network by motivating the miners, only in a very far future it could be needed to be increased, but in such a case then a study would need to take place since in a far future the block reward could be 2 BTC and most of the miners reward could be based on fees as Satoshi had originally planed.
As of today for each block reward, 25 BTC are the block reward, and only on average 0.1 BTC are from fees, the amount of 0.1 BTC would go down to near 0, and that will be a problem for the security of the blockchain once the block reward is something like 3 BTC.
Another thing to consider, today people using modems and low bandwidth can be bitcoin nodes, with a 20MBblock they will need at least moderate bandwidth.
The 20MB block might be needed in the far future but not now.
Also a fork risks the price of bitcoin going down since some may stay on the other side of the fork.
It is better to concentrate on bitcoin gaining adoption instead of solving a problem that today does not exist.
7 TRANSACTIONS PER SECOND ...........SAYS IT ALL REALLY Bitcoin is already deemed unsuitable for some projects (lighthouse etc ) because the blocks not capable dont be tricked by any fools who argue monero or litecoin or some alt will have to be used.theyre only against removing this restriction because they already own the alts they would like to replace btc |
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I want the distribution of wealth in crypto to look like the pie chart of mining pool hashrates.
That would require Bitcoin losing significant market share to altcoins. I don't want that to happen. Most Bitcoin users don't want that to happen. You're an advocate of altcoins, so your interests diverge from that the majority of the members of this community. I suspect that is why you are advocating against a hard fork and for a permanent 1 MB restriction that would hamper Bitcoin's adoption. you fail to realize: this hardfork, secret island meetings, gavins behaviour, the low priority consensus actually seems to have, the inaccessibility that Gavincoin will have, the behaviour of the pro-forkers aswell as many, many other things is exactly what drives people out of bitcoin and into altcoins. (not that i would think it's a bad thing, i think it's healthy) Alts gaining marketshare is healthy for all of the ecosystem, it improves decentralisation and developement. Bitcoin bagholders who fear this are people who miss out on the opportunity to invest in altchains and make profits there. its not about missing opportunitys to invest in shitcoins more like a total dislike of them its more like ALT coin bag holders trying to pimp their own coin because btc is closer to mainstream than any ALT coin will ever be and alts are dying off every day and nobody even pays attention to it while btc gains more and more milllions in investments |
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this thread should be deleted
it shouldnt ,its true and factual and should serve as a warning what kind of shit kryptsy are up too just because one person got his coins back after a few weeks of media storm doesnt mean others havent been selectively scammed too |
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I don't want to give altcoins space to take market share from Bitcoin. You do.
It's not yours, you dont need to give anything, megalomaniac nuts. All fear and greed while the world's honeymoon with Bitcoin is ending, not smart to alienate the entire world right now. how do you figure its ending when only 10-20% of people in WESTERN countries even know what a bitcoin is ? probably the % of people in the world have ever owned or used a bitcoin is a tiny fraction of 0.01% i know i didnt have my first email address until about 10 years after email was invented and even then i wasnt quite sure about it or how useful it would become bitcoin timeframe will be similar i guess ,all i know is ,the people who have coins now ARE the early adopters ,those coins will be worth a mint in a decade or probably sooner and no ,we dont need more shitcoins ,i realise there are around 600-700 coins in the wild now but that will just divide and destroy crypto ,put all the resources into BTC and it will flourish joe soap doesnt want to come to a bitcoin forum that doesnt even have a single btc thread on the front page and just full of worthless shitcoin pump and dump and convert to btc ASAP before anyone whos what happened ............ |
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News about this situation ? Has someone receive his money?
Nobody receive anything. That's very bad  . The people *must* learn to keep their own coins in their personal wallet and not in the various exchanges. So, I transfer bitcoin to an exchange in order to buy/sell a coin, wait a day, then the exchange goes belly up, and it's my fault?  Why do you have to wait a day ? Make this "trade" , withdraw your coins and enjoy them in your personal wallet (in your pc). What if the price of the coin went up 20% from the time I sent bitcoin from my wallet, to the time that it was received in mintpal? Can I not wait a day to see how things shake out? I'm not questioning your advice, I'm just saying shit happens. The mindset that people just let their coins sit in an exchange for months isn't always the case. A lot of people had their coins in their for a day or two, maybe less. and its gone....... IF YOUR BTC IS NOT IN YOUR SOLE CONTROL FOR ANY LENGTH OF TIME YOU ARE RISKING TAKING THAT LOSS |
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