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321
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Bitcoin / Bitcoin Discussion / Re: How today was my last btc transaction.
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on: March 28, 2017, 05:15:22 PM
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Being a very active gambler i was usually pretty satisfied with btc. The stakes are higher then other sportsbook sites and i like the fact that i don't need any personal information. Well this all changed during recent events with the so called mempool. Just to make this clear, i have no idea how this all works and i don't care either,i just want it to work.
The problem with this is i play on various sites and most of the time i make last minute bets on games in different sports and the transactions have to be almost instant and be confirmed before the bets are being payed out to me again.
Most sites credit the btc after just 1 confirmation which by the looks of it is going to take hours again with almost 45.000 waiting transactions in the mempool. It happened before and it's happening again and it's time for me to say goodbye to bitcoin.
Any other people feeling the same like me who are tired of these slow confirmation like today?
The users want fast confirmations and low fees. Blockstream controlled Core devs don't care what you want. They're going to scale Bitcoin according to their own roadmap, and if you don't like, tough shit. Any questions? Faster confirmations, cheaper fees = segwit + schnorr sigs Instant confirmations, near free = LN blocksize remains reasonable to be run under average computer = decentralized network Core Roadmap = the best Any questions? Hard fork? |
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323
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Bitcoin / Bitcoin Discussion / Re: Noob Q: Can bitcoin be turned into POS?
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on: March 28, 2017, 04:42:16 PM
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I think that there's a wealth of data out there within the alternative coin experimental projects which may be compiled and studied to answer this feasibility question. However, it would probably require a hybrid system and a revised acyclic data structure connecting various tiers of clients and that may be too intensive a project to undertake on the existing chain without causing conflict.
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324
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Bitcoin / Bitcoin Discussion / Re: How today was my last btc transaction.
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on: March 28, 2017, 04:16:26 PM
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Maybe the whole "fee" thing is why Dogecoin does so well. It stays cheap but consistent and reliable. When transferring between exchanges, trade in BTC for Doge, transfer to new exchange, then trade Doge back to BTC. Is that what's happening?
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326
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Bitcoin / Bitcoin Discussion / Re: Alt shilling increase when Bitcoin is under attack
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on: March 28, 2017, 04:04:35 PM
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I don't think that the migration from bitcoin to the altcoins, and vice versa, is a collusive effort. It's a natural event that can be logically evaluated from a game theory perspective. Yes, there may be a certain amount of "shilling" a certain project based on the circumstances under debate, but that's natural.
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327
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Bitcoin / Bitcoin Discussion / Re: Who is Satoshi? Why did he hide his identity?
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on: March 27, 2017, 08:59:16 PM
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Why did Satoshi hide his identity? Has anyone seen Satoshi in real life?
Is Satoshi one person? Or is it a community?
Here is a thread of threads that may answer many of your questions. It is an accumulation of all the facts and speculations along with the words from the entity theirself: https://bitcointalk.org/index.php?topic=504182.0Nah, I wouldn't use that to start your Satoshi investigation. That's just a thread about that Dorian Nakamoto crap. About the only interesting thing related to Dorian was his one-time proximity to the late, great Mr Finney. But it includes all sorts of collateral information that might be helpful. There are quite a few links so it's a lot to read, but there is a trail there. Outside of that thread, I think that the perplexcity connection is the most ignored yet most compelling lead. Card number 256 may be a serious clue. |
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328
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Bitcoin / Bitcoin Discussion / Re: Fuck: SegWit, LN, Blockstream, Core, Adam Back, and GMazwell
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on: March 27, 2017, 08:34:39 PM
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I think that this whole argument is inorganically precipitated. It has to be a form of manipulated chaos designed to set the course of the project into an unforeseen direction guided by only a few insiders. Does it feel that way to anybody else?
Don't take so many drugs son. It's not good for rationality. There is no collusion. I am genuinely interested in the topics I want to discuss because the outcome of those discussions impact my work and my decisions. Folks like @dinofelis, @traincarswreck, and myself are just thinking at a very high abstract (and detailed) level, so it may be making your head spin. Yes. It is making my head spin. However, you cannot deny that (not your arguments specifically) there is a forced coup underway, centered around this argument, that's shaping the platform in ways that may suit the interests of a smaller percentage of the community than may be healthy. I think that the numbers demonstrate that confidence in the network is being shaken by the debate. Am I right, or is that my brain on drugs again? |
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329
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Bitcoin / Bitcoin Discussion / Re: How today was my last btc transaction.
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on: March 27, 2017, 08:22:30 PM
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Being a very active gambler i was usually pretty satisfied with btc. The stakes are higher then other sportsbook sites and i like the fact that i don't need any personal information. Well this all changed during recent events with the so called mempool. Just to make this clear, i have no idea how this all works and i don't care either,i just want it to work.
The problem with this is i play on various sites and most of the time i make last minute bets on games in different sports and the transactions have to be almost instant and be confirmed before the bets are being payed out to me again.
Most sites credit the btc after just 1 confirmation which by the looks of it is going to take hours again with almost 45.000 waiting transactions in the mempool. It happened before and it's happening again and it's time for me to say goodbye to bitcoin.
Any other people feeling the same like me who are tired of these slow confirmation like today?
It looks like it is only going to get worse. Transaction fees are increasing, confirmation times are increasing, market cap is decreasing. It looks bad. All the virtues admired most about the platform are all suffering. I myself am looking into alternative platforms as well. Bitcoin has become antiquated and saturated with greedy holders who don't appreciate its utility. The community needs something that works, not a bed of Tulips! |
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331
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Bitcoin / Bitcoin Discussion / Re: Fuck: SegWit, LN, Blockstream, Core, Adam Back, and GMazwell
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on: March 27, 2017, 07:51:13 PM
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get a room you two
^^^This is a troll post. ^^^ Reiteration (sorry couldn't help it) manaja twa? I think that this whole argument is inorganically precipitated. It has to be a form of manipulated chaos designed to set the course of the project into an unforeseen direction guided by only a few insiders. Does it feel that way to anybody else? |
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333
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Bitcoin / Bitcoin Discussion / Re: Bitcoin Future
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on: March 27, 2017, 07:24:09 PM
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Put it this way. Bitcoin is now. The blockchain will be developed to meet the demands of future innovations. If bitcoin loses its ability to adapt to future economic climates, it will face the same dilemma as the peppered moth. But, the technology that bitcoin is built upon will adapt, evolve, and be here long into the future.
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334
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Economy / Economics / Re: How is the capital found?
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on: March 27, 2017, 06:58:06 PM
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The first investment you should make is an investment into your own education. Once you acquire an education, a skill and a unique perspective, build social equity! Take advantage of the social network resources available to you and accumulate credibility to elevate your reputation. If you have a novel idea that's well developed, opportunity will present itself.
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335
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Bitcoin / Bitcoin Discussion / What is valuable about the bitcoin nework?
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on: March 27, 2017, 06:20:48 PM
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I've been studying bitcoin for a long time now but I have no stake in the project. I've been following the forum for awhile but spend more time reading than posting. I am curious because I feel like people are missing the true value of the network. People tend to either be investors for profit and want to see the price rise, or investors whom engage in borderless exchanges whom don't pay attention to the prices, whom instead take advantage of its ability to reach larger markets.
I think that the network itself and its ability to bring about a diverse community of socioeconomic cultures creates a "social equity" that's unparalleled by any other technology. Bitcoin inspires intellectual, social, and economic innovations in a collective manner and I don't believe that it is receiving as much attention as it deserves in those areas.
What do you think? Is bitcoin just a means to store and grow wealth? A medium of exchange? Both? Or, is the network itself worth more than the sum of its parts?
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336
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Bitcoin / Bitcoin Discussion / Re: there don't seem to be great Bitcoin alternatives
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on: March 27, 2017, 05:45:56 PM
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Ethereum? Gaining huge traction right now but one look at the inflation curve compared to Bitcoin and there's just no way i'm going for that.
Ethereum isn't my favourite coin, but let me add two comments: - "Ether" isn't meant to be used as a regular currency but as a "fuel" for smart contracts. So it's more of a base token on top of which other tokens can be created. An example is MakerDAO, which wants to create a stable currency based on the platform but is in a very early development stage. - The inflation, if viewed in an exponential way, is descending. I think with Ethereum one should wait and see if its Turing complete script language really enables something useful that could let to mass usage and couldn't be done in Bitcoin. It's still early and risky. As of governance, for now it's worse than Bitcoin (very centralized). There are other interesting cryptocurrencies in the second and third tier, like Decred, Sia or Ardor (and others that are very small but interesting, like Slimcoin or Qora), although many of them still are either alpha or their "killer features" (e.g. hard fork voting in Decred) are still not implemented. We have to wait. So for now, I agree with your general conclusion that there is no really usable alternative. I haven't invested in anything yet but the potential of the Ethereum network is exciting to say the least. It's still a bit over my head but my imagination is running wild thinking about its potential for automated markets. I think the potential of ethereum requires more vision and forward thinking. I don't think "ether" will be a great store of wealth but I do think the Ethereum network will prove to be a valuable resource. |
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337
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Bitcoin / Bitcoin Discussion / Re: Satoshi Economic Missteps?
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on: March 27, 2017, 05:17:03 PM
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within the first few paragraphs... the author lost the plot
"Bitcoin is the top cryptocurrency valued at $16 Billion"
i laughed
a. there are no $16billion sitting in bank accounts backing up bitcoin
b. bitcoins individual price is not based on 16 mill coins being sold either.
c. the exchange rate is based on only a few thousands coins loaded on an exchange and re-circulated by day traders
in short the author thinking bitcoin is valued at $16B.. is an economics failure.. thats a speculative bubble valuation based on multiplying an average of a small subset of the market..
so i didnt bother reading after that.
edit: screw it i thought id read a little more.. dang the very next line.. and he lost the plot again
"Bitcoin’s percentage value relative to other cryptocurrencies is gradually falling over time"
a. i can make an altcoin right now that has 5,000,000,000,000 coins.. and i can sell just 1 coin for $1. and instantly have it valued at $5 TRILLION, due to how the author believes bitcoin is "valued".. thus i could tank the markets just spending $1 on my alt... lol
But isn't the marketcap valuation algorithm the same for bitcoin? Isn't volume included in the marketcap valuation, somehow, because what you say is true about 1 coin sold for 1 dollar creating a 5 quadrillion dollar marketcap otherwise. Volume has to be considered or it's meaningless. |
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338
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Bitcoin / Bitcoin Discussion / Re: there don't seem to be great Bitcoin alternatives
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on: March 27, 2017, 05:04:21 PM
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I have been seriously considering hedging a portion of my Bitcoin
holdings in other cryptocurrencies.
But so far, upon researching, they all seemed to be plagued
with one issue or another.
Ethereum? Gaining huge traction right now but one
look at the inflation curve compared to Bitcoin and
there's just no way i'm going for that.
Zcash? I read that the reason why its so anonymous
is that the funds are internally mixed using a super
secret key 'corporate team key' that 6 people have access to.
yikes.
Ripple? Not even a cryptocurrency. No...just, no.
Dash? huge instamine (claimed by accident) and 10% of
the rewards go to a treasury account, and some algo
("DGBB") gets to decide how to spend the money. red flags.
It depends on what your motives for investing are. If you're investing as means to store and grow wealth, as opposed to, investing into a vehicle to engage the market place and precipitate exchange, then you'll approach it from different perspectives. There are technologies that are much more conducive to promoting market growth than bitcoin. Early projects that engaged and tackled those problems that bitcoin faced, economy of scales being the big one, are in a good position. The ability to engage the markets is highly undervalued, think about that. Don't underestimate the value of smart contracting, the exchange of goods and services is what generates wealth, the vehicle used is an abstraction. |
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