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1421  Bitcoin / Bitcoin Discussion / Re: Did you just see BTC on NBC? on: November 03, 2018, 05:19:43 AM
I think itís more interesting that the criminal, Raymond Redington, on the show The Blacklist uses bitcoin for all of his criminal activity.

it is more sad than interesting that the media has only been portraying bitcoin as something that criminals use. so far every movie, TV series, Talk shows that i have seen talking about bitcoin has only shown it as criminal's currency!

BTW bitcoin is not yet 10 years old Wink

1. silicon valley had th geeks mining bitcoin. not doing darknet stuff
2. Ellen degeneres mentioned bitcoin
3. the bigbang theory mentioned it
4. tv show almost human kept mentioning bitcoin as their common currency
5. tv show the good wife mentioned it. even had the lawyer character saying she bought some
i could go on and on and on

but you did bring up an important psychological point.. most people, including youself only seem to remember bitcoin when mentioned in negatives... maybe its due to the choice to channels/shows you prefer. or that 'there is no such thing as bad press' because it stuck in your head that btc was mentioned in such and such manner. thus your mind atleast remembered it

and lastly yep bitcoin is not 10 years old.
in my view the august 2008 registrations of websites about bitcoin. thats the conception date
in my view the october 2008 release of the white paper about bitcoin. thats the first ultrasound photo of it

the january 2009 date when bitcoin was actually released into the world and it came to life.... that was the birthday
1422  Bitcoin / Bitcoin Discussion / Re: tv show "startup" (about crypto) on: November 03, 2018, 03:17:07 AM
there is only one mega flaw in all 3 series of the TV show

in each series the underlying fault is that the guys keep trying to find different methods of getting FIAT to fund their crypto projects. i think they miss the point of cryptocurrencies entirely.
1423  Bitcoin / Meetups / Re: Blockchain Seminary on: November 03, 2018, 12:53:20 AM
when doing seminars, its great. its hands on face to face comunication.

but remember "know your listener"
for instance the example above is school kids,
dont waffle about the tech science of university level cryptography if they are only highschool level

dont waffle about blockchain use cases of medical/banking.. kids dont know the behind the scenes of these, instead talk about educational benefits eg exam/test logging. imagine a blockchain where their grades are credits.. literally tokens that at graduation they could then spend... that soon peaks their interest more so then the offtopic waffles of things unrelated to them

apart from that. make it a challenge or game to get them thinking of if they formed a team/group. what things can they come up with. get them thinking about how they can get involved rather than just make it a sit and listen to some strange guy with a power point presntation
1424  Other / Meta / Re: Help! Got scammed trying to upgrade my membership! on: November 03, 2018, 12:19:46 AM
theymos owns this website

follow only his instructions
1425  Bitcoin / Bitcoin Discussion / tv show "startup" (about crypto) on: November 03, 2018, 12:07:46 AM
so series 3 was released this week. its a show all about cryptocurrencies
available/showing on sonys crackle platform/channel..... of them cough streaming sites cough that are not affiliatd with mainstream broadcast platforms

dork from 'the OC'
watson from 'sherlock', he also in recent 'fargo' series and a few marvel movies
hellboy from 'hellboy'

series one was about starting an altcoin, and pivoted into ICO and blackmail and VC funding
series two was about ICO and blackmail, kidnapping and murder ending with releasing a openbazaar LN hybrid

series three begins with the openbazaar LN used as a silkroad(darkmarket) which brings in the NSA trying to get involved

this might cause a stir in the speculative market. as it was not a coincidence that just making an altcoin mutated into "ICO's" around the time of the hype of series 1&2
1426  Economy / Trading Discussion / Re: .0023 sell every 20 seconds on Coinbase on: November 02, 2018, 08:18:13 PM
its not strange at all.
its called day trading

if you want to sell say 0.69 an hour or 16.56btc a day. you dont simply throw a sell order in as a lump sum.
the lump sum could create a 'wall' where other people see it and then refuse to buy into it as its a bigger lump then other orders.

so instead you calculate it down and sell in spoonfuls that way its not noticable and sales flow through without impacting the psychology of other traders.

smart traders that have $100k are not going to 'eggs in one basket' in one order sell it all. as that causes a market reaction
1427  Economy / Speculation / Re: Bitcoin price determinants on: November 02, 2018, 09:24:09 AM
second of all, you act like miners have no overheads and no reason to sell. you're quite right they don't want to sell at a loss. no investor ever wants to sell at a loss, but it happens all the time. and in the case of miners, they may have rent, electricity, and other costs to cover. their operation may be leveraged and they may be forced to liquidate to cover borrowed funds in a bear market. you make it out like all miners can afford to never sell at a loss. like any investor, miners eventually capitulate when losses compound and/or market recovery seems unlikely.

third, not all miners have the same costs. there's a wide range of possible costs depending on electricity costs (or free electricity), rent, cooling costs vs heating bill subsidy depending on region, access to cheap chip manufacturing. there is no single "cost of mining" that you can point to and say "miners won't sell below this level".

firstly. when they liquidate. other pools take the slice of the pie the liquidated pool now doesnt.
you can calculate that.

secondly miners have similar costs to stay competitive. as you say if they are over leveraged, they lose. so over time those that are surviving the last 4 years of asic mining are surviving because thier costs are pretty equal to avoid liquidating out
(they had 4 years to find their cost equilibrium)

yea if you start up a new farm. chances of liquidating are higher.. same with any business.. but if you can get passed the first couple years where you are smart enough to find the efficiency and get the costs to a competitive level. then youll find your at the same costs as your competitors

thats why i said its not just simple 5yo "supply and demand".. there is more to it then that.

even yourself argue that its more than supply and demand. if you actually read your own words in detail
1428  Economy / Speculation / Re: Bitcoin price determinants on: November 02, 2018, 08:54:00 AM
try learning about mining cost

the only way you can study this is the psychological effects this has on traders and where they put their buy orders to form a buy support. otherwise mining cost is dynamic not fixed. and it changes with the price!

no one can predict the price minute by minute. hour by hour. so forget this conversation is about prediction
price determination is about determining the price not predicting it

EG how do you know bitcoin is valued at the $6k(sustained/long period) range instead of $1(sustained/long period) or $20k(sustained/long period)

easy. if the hashrate this month shows the $6k range then thats the area sustained prices would return to after the corrections of speculative waves

mining is not reactive as many think smart pools have already calculated a year ahead their growth. (leased building space requirements, planned staff requirements, paid upfront contracts to buy excess electric. producing asics/purchasing asics)

miners are not ractive to OMG social drama face just said something bad, so we must turn off asics..
for miners their concern is the % chance of getting slices of the ~1800 daily btc reward cake

its all pre planned. extra asics or electric demand doesnt magically appear when needed

so when mining. if the cost of mining to get coin is cheaper done by just buying it.. they will. and if cheaper to mine it, they will

the psychology of this is pre set. thats the point.
its natural flow. if you have 2 market stands sat side by side. offering the exact same end product but standA is cheaper on a monday and standB is cheaper on a tuesday. you can already know which stand will have the action occuring more so before it happens.
what you find over time is if standA and standB are different initially, they eventually find a mutual equilibrium

the rise in hashrate that stands the test of 3-12 months causes a base value to equilibrium into that area.

if mining cost only $1 a btc guess what. miners would mine it at $1 and sell it for profit at any price above $1. all the way down to $1.0X because its still profitable

but because it costs in the $6k range they wont sell for $1. thats pretty much a given guarantee before even having to look at the price chart that you wont see a $1 btc while it costs in the $6k range

and thats the point in determining the price.

the speculative (temporary) drama waves that then correct. yep unpredictable. but determining the base value that prices return to after drama events(corrections).. is possible

if you told me (given asic hardware was the same $450 and electric base was 6centskwh) and said for the last few months hashrate was in the 90exa area.. id tell you ignoring the temporary waves. the btc base value area would correct to around ~$12k
1429  Bitcoin / Bitcoin Discussion / Re: Warren Buffett starts investing in start-ups on: November 02, 2018, 01:05:51 AM
Didn't he infamously call bitcoin "rat poison"?

charlie munger called it rat poison years ago.

then recently. warren buffet made a smart remark.
the interview was 'when charlie munger called bitcoin 'rat poison' when it was $100, what would you say about it now its $10k'

the smart reply was ratpoison squared
(emphasis on the squared... think about it 100->10,000) if you dont get it
100x100(meaning 100 squared)=10,000

as for the rat poison.
in wall street and londons square mile. if your in the financial life, you are living in 'the rat race'

bitcoin poisons rats = bitcoin is poison to wall street traders (think of the positive spin on the meaning)

1430  Economy / Speculation / Re: Bitcoin price determinants on: November 02, 2018, 12:53:11 AM
"supply and demand" pfft.. thats 5year old stuff

supply is layered.
demand is layered.

once you delve into the layers you start to see the bigger picture.

plus simply saying "supply and demand" is meaningless

i have 10 bags of dog poo, and i know of 7 billion people.
there is the supply and there is the demand... see.. empty debate

the OP is at college/university level not 5year old level.

as for saying the cost of creating/obtaining an asset has no relevance to determining the price of an asset is a big laugh
if it cost you $10 .. your not going to be foolish and sell it for $0.01cent. your atleast going to want $10 for it.
and then ontop of that speculate the desire/need/function value to add on (how much profit you can make (raise the price)) before a buyer thinks your being too greedy if too high or a great deal if at/near your cost
1431  Bitcoin / Bitcoin Discussion / Re: Jamie Dimon: I ĎDonít Give a Sh*tí about Bitcoin on: November 01, 2018, 09:59:14 PM
random person who doesnt use bitcoin is asked about bitcoin and the forum members suddenly get emotional

imagine the euro.
random person who doesnt use euro is asked about euro and the euro forum members suddenly get emotional

reality check of what should happen
as a brit i use the pound i dont care about the euro.. .....
euro forums....... 'oh well'

my point
find a subject. find a person that doesnt use that subject. ask him about a subject. and they are by default going to say they dont give a crap
so just dont get emotional about it. find something that actually matters to talk about

1432  Economy / Speculation / Re: Bitcoin price determinants on: November 01, 2018, 09:20:03 PM
another determinant is not looking at the highs or the averages of bitcoin price history.
but instead look at the LOW
you will find that if a prices BOTTOM has tested a value several times and has refused to go below that over multiple month then that becomes a support line

11 month support bottomline $5,800
3 month support bottomline $6,100

that support line helps keep the price above a certain level as the majority of traders would have cycled their coins through exchanges and services and spending habits at or above that price. and gave traders many chances to sell

so the longer prices stay above it, the majority have a mindset that the price is above that level to either have already sold if they thought it was profitable, thus the new buyer has it set as their minimum price.. or if not sold its in that persons mind that the price zone/bottom is their new bottom too, even if they bought it cheaper earlier

no one can predict the hourly/daily movements of speculation. but the value zone can be calculated.
1433  Economy / Speculation / Re: Bitcoin price determinants on: November 01, 2018, 08:40:31 PM
those stats dont have any impact on bitcoin price.

try learning about mining cost

the math is simple
at current average 50exahash miining stats (50000000terahash) thats 3571428 asics(14tera each)
working out the cost per coin can be done
even at their second hand sell off of $450/unit=$1,607,142,857.14
which if running for a year before unit replacement = $2452.90 hardware cost per btc(x/26/2016/12.5)
$285714.24 an hour = $3819.99 a btc (*24/365 then /26/2016/12.5)
hardware and electric =$6272.89

electric= 0.06centsper kwh  =(0.08cents for a ~1.33kwh equiv)
asic hardware unit=$450
asic hardware hashrate 14tera hash
asic hardware electric =~1.3kwatt/h

people assume one block every 10 minutes(a block has 12.6btc each)
but the timing is 2016 blocks every 2 weeks target. thats why you see the math stretches numbers out for the year then divides it down to fortnightly(/26) then block(/2016) then coin per block(/12.5). to be a lil more consistent
(you could just for instance take the kwh total /6 /12.5.. but yea it makes a lil difference $3809.52 as oppose to 3819.99 so $10.49 difference)


what you then find is that mining costs give a good estimate of the zone area of real value (base price/intrinsic value)

then comes the 'speculative waves' of random ups and downs.
when the bitcoin price is below the mining cost. people decide its cheaper to buy btc direct than to mine it. so the price moves up.

then if there was some speculation that made the price move up too much. mining decides to progress up too. albeit at a slower rate as smart miners on on contractual growth.
so many sudden price rises are not sustainable and correct back down (the $20k spike for instance)

wiki page views and forum views have no statistical correlation. neither does google analytics.
the stats of page views ar people researching bitcoin days AFTER a price change, due to panic media news flash and other propaganda after the fact.

1434  Bitcoin / Bitcoin Discussion / Re: Jamie Dimon: I ĎDonít Give a Sh*tí about Bitcoin on: November 01, 2018, 02:28:51 PM
so many talk about social faces opinions. but all that should matter to a bitcoiner is code
1435  Economy / Economics / Re: What will happen to Bitcoin if there is a global economic crash? on: November 01, 2018, 02:18:17 PM
what will happen is

yea bitcoin could rise to be $1trill per coin..
but that $1trill may also only buy a loaf of bread 5 minutes ago..
       now its a slice..
        dang it i cant write fast enough now its a crumb..

in short. the "price" becomes meaningless because once you convert it to $ the amount of good bought with it are crumbs.

what then develops is people just dropping $ prices and instead measuring bitcoin direct to minimum wage/cost of living and form  stabilised living utility of bitcoin to life and just ignore fiat completely.... which is something bitcoin should have done years ago anyway
1436  Bitcoin / Development & Technical Discussion / Re: Are blockchain tracking sites tracking Segwit adoption wrong? on: November 01, 2018, 08:53:10 AM

but i say this because nothing stops pools from doing this. by this you will also find that no pool is going to be forced, made to, or coerced into  including a LN close channel session onchain.

Would you believe that that would be the main reason why Antpool and are excluding Segwit transactions?

What about doing it as a means to collect higher fee rewards per block?
each pools has their own intentions. EG btcc used to let in tx with zero fee but only when the tx originating from their exchange
another pool guaranteed first-in (priority) if they done a API pushtx through a website portal*
another pool guaranteed first-in (priority) if they done a API pushtx through a website portal* when paying the pool indirectly
*then treating the normal network relay/mempool as second class
another pool wouldnt include transactions where the utxo is under 6 confirms(honestly, most pools should do this, as it would help avoid spam and also reduce orphan risk)

but back to the question you asked
well if you had 2 tx's both say 300bytes but one earning you 25cents and the other treated as $1 which one would you grab

if core removed the wishy washy witness scale factor *4, guess what
1. both legacy and segwit transactions can in full non stripped format all happily utilise the 4mb 'weight'
2. both legacy and segwit transactions would both be 25 cents. yep cores code makes legacy 4x more expensive. not discount segwit by 75%(thus code counters their PR adverts)

core can easily also limit the sigops/tx. that way it allows more tx per block during spam attacks. .. did you know the way core put in sigop limits that one person can make just 5 transactions and use up the block sigop limit because the tx sigop limit is so high (facepalm)
also by reducing the tx sigop limit, thus allowing more tx per block sigop limit also as a side effect reduces the chance of the whole linear validation delay issue.. but if core were to actually do some efficiency stuff and actually fix things, they would have no PR to say other non-blockchain networks are needed.

did you know that core could code many things. including a fee priority formula that charged people that re-spend funds more than once a day with a higher fee, thus a tx that has more aged utxos getting a lower fee.

imagine it a utxo spamming(re-spending) every block paying 144x more than someone spending once a day. which can be done with just a few lines of code.

yep. bitcoin is code and MANY things can be done. but core pretend only 2 things can be done... hense their false narative of
"gigabytes by midnight or LN"
1437  Economy / Gambling / Re: Multiplayer lightning network game on: October 31, 2018, 11:36:00 PM
use proper terms
"bitcoin lightning network" should be the lightning network with btc as the currency..

lightning network is a separate network that many coins can use. it is not a bitcoin network layer nor a bitcoin lightning network

too many people are falsely identifying it as bitcoin sole feature purely for fame and deceit. just like all the ICO's that buzzword in bitcoin just to gleam some fame

again LN can be used by different coins.
LN was not designed and made to be bitcoin compatible.
bitcoin was altered, as was litecoin and vert coin and other coins were altered to be LN compatible

nothing wrong with people playing with other networks voluntary, but stop trying to make out LN is part of bitcoin and stop being part of the deception that bitcoin cant scale and needs people to move over to lightning.

whats next ripple is an underskin of bitcoin. nxtcoin is again described as bitcoin2.0!?
too many people are playing around with different networks and trying to tag on some lame importance that its bitcoinX or Y
1438  Bitcoin / Bitcoin Discussion / Re: Looking back at the White paper... Do you think Satoshi would be proud of us? on: October 31, 2018, 10:36:09 PM
Hardly anyone are making Bitcoin payments without going through some kind of centralized third party, like payment processors and exchanges or wallet providers.

Yes, you are right. People have to reveal their identity especially when they intend to cash out their profit or buy bitcoin with fiat. But that's not the problem of bitcoin. That's the problem of fiat money and strict rules made by governments.
I think Satoshi is satisfied now. Many people are using bitcoin and the number of people is increasing. Till now, everything has gone well.

Unfortunately that is not entirely true. Satoshi wanted us to run Bitcoin Core and some full nodes <at least some of us> to sustain the network and then to use that as our wallet, not a centralized wallet provider or an exchange.

You can have a Billion people using Coinbase and with one switch of a button, that Billion people will be without any bitcoins. You need to own the Private key to own the coins.  Angry

fixd that for you. as core was not around in satoshis day. satoshi wanted diversity. he didnt want to be leader and be the central point he didnt want followers just asking him.
also having just core is also as bad as having exchanges. coz just one bad line of code and bam ..full network bug
diverse fullnodes of different languages and teams all part of a level playing field is what should secure the network.
anyway apart from that little edit the rest of your comment is correct
1439  Bitcoin / Bitcoin Discussion / Re: Evaluation of Bitcoin as a store-of-value on: October 31, 2018, 10:25:20 PM
anyway. back to the point
I somewhat agree with the statement, but at the same time, I want to ask, if a particular asset (Digital or physical) doesn't have a store of value, or if it is not promissory by some regulatory body, how can it be used as a "medium of exchange"?? Why would someone be interested in accepting that asset as a medium of exchange??

something does not need to have a store of value to be a medium of exchange
sea shells.
tally sticks.

their creation cost nothing. you can stare at it all day, study it under a microscope and see no store. all you can assume is a PERCEPTION store of value. EG fiat and tally sticks. because they have some recognition of being handed out originally by kings(tally) and government(banknote) that there then becomes perception of its importance

but to actually be a store. thats based on acquisition and creation cost
but going deeper. why is physical or digital item being acquired/created as oppose to something similar.. well that about UTILITY.

if something has no utility function, then no one will want it. the desire stalls out. thus the creation costs decrease due to competition depletion.

"store of value coz store of value" is an empty and nonsense argument to attempt to make for why store of value exists.
killing off features such as utility inevitably kills off its desire.

you cannot have one without the other
you cannot just have btc as a reserve without function,
bitcoin will not be a IMF reserve SDR because china(ltc) is not measured solely in it
bitcoin will not be a IMF reserve SDR because canada(bch) is not measured solely in it
bitcoin will not be a IMF reserve SDR because america(btc) is not measured solely in it
bitcoin will not be a IMF reserve SDR because europe(eth) is not measured solely in it

bitcoin needs to be a medium of exchange(utility) to be a store(real intrinsic)
bitcoin needs to be a be a store(real intrinsic) to be a medium of exchange(utility)

they mutually benefit each other and mutually fail without eachother
again killing off medium of exchange and hoping btc can be real intrinsic store of value is stupid beyond even economics a 5yo could understand.

yea some monarch/government. can do percieved store. but thats just the fake crap of fiat/tally sticks
again store coz store is empty of real logic. and thats why fiat is bad(popular but bad)

bitcoin was created to not become fiat
1440  Bitcoin / Bitcoin Discussion / Re: Evaluation of Bitcoin as a store-of-value on: October 31, 2018, 10:04:15 PM
ill give you a hint. bitcoin did not fail devs.. devs failed bitcoin.
bitcoin can scale. but devs seem to have put their hands in the air and just said no, they wont develop it onchain

I am not sure whether you are retarded or simply don't understand anything at all..

Onchain scaling can NEVER be a solution. A simple increase of the blocksize (for example) is not scaling.
Doubling the size can never be called scaling. That's more of postponing the problem (and creating a lot of additional ones) than solving it.

Instead of shit-posting with zero substance, what about logging off and joining the bcash-echo-chamber ?

Noone forces you to support BTC. If you believe some shitty fork does better, then go for it. Go and support them.
But don't fool others with your 'opinion'.

you have less clue than the usual tribe of core supporters
its funny that its the same group of people supporting core devs but not the bitcoin network
if you think the bitcoin network is dead and cant scale. thats you failing to support bitcoin.

so you can play games being a dev supporter all you and your buddies like. but im more interesting in supporting the bitcoin network

maybe its you that should go play with another separate network that the same devs support. its called LN.
P.S LN is not a bitcoin feature. its a separate network the devs love that any coin can can use, as long as that coin has been manipulated to be compatible to it

now stop getting emotional because bitcoin CAN scale and you hate the idea that it can as it defeats your dev support system of wanting another network to be the "killer app" of multicoins
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