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1841  Bitcoin / Bitcoin Discussion / Re: Bitcoin & Australia's new "Assistance and Access" (Illegalizing Encryption) on: September 13, 2018, 08:46:33 PM
doesnt affect bitcoin

if anyone wants to see the data we encrypt with our private keys... well.. its right there in cleartext viewable in a blockchain explorer. we even give them the public key for them to verify that the encrypted message (signature) matches the cleartext data.

nothing to hide thus no need to hand over our private keys..
case closed. moving on
1842  Bitcoin / Bitcoin Discussion / Re: The change in the trend of bitcoin. on: September 13, 2018, 06:58:11 PM
we have been bull for years
2016: >$300
2017: >$900
2018: >$5800

what you must be talking about is
cubs (small bears)
calves(small bulls)

you cant just scream bull or bear every +/- few percent change, or just on the movement of a few days weeks

the december event was a calves running up a hill and then come tumbling down(it was short, temporary and not sustainable). we are at ground level and no bear market. just more calves and cubs fighting and jumping and falling around in the fields.
1843  Bitcoin / Bitcoin Discussion / Re: BTC is near end, proof block 2 on: September 13, 2018, 11:46:09 AM
i already xplained why its not a ponzi.. now lets try the next one

bitcoin is not a pyramid
a pyramid is recruiting more than one person. and for every sale they make you get a cut of the profits

sorry but if i sold 1btc.. we barter on the price. find and agreed price EG $6300 and i sell them my btc.

i dont hand any funds to anyone before me.. because there is no multilevel game.. the person that sold to me is gone. they wont get anything.
i keep my $6300 all to myself and thats it..
the buyer doesnt give me ongoing funds. they are not put on any level. or given any special title like "diamond recruit". they dont have to seek out anyone to make profits, they dont get any ongoing revenue or free vacations
1844  Bitcoin / Bitcoin Discussion / Re: Lightning network stats: 115 BTC 3.4K nodes 12.3K channels on: September 13, 2018, 10:08:14 AM
i know light wallet phone apps are for common people. but i wouldnt be to rushing into "just works"
the full decentralised desktop nodes will tinker with the code and change opcodes and other things to gain the upper hand of transactions. so it is still best to have a feature where users can see what they are signing(rax tx) rather than just have everything on autopilot/auto accept

even if we totally forget about bugs, changing opcodes. .. and just think about the auto accept/autopilot of routing funds...
you can get played

me1 [0.15 <:> 0.15] you [0.15 <:> 0.15]me2

me1 can you send me2 payment of 0.15
me1 [0.00 <:> 0.30] you [0.00 <:> 0.30] me2

me2 i close channel thank you for the free* 0.3  *ill explain this below
me2:  "random announcement: if 2 people connect to arde and send 0.15each to me1. they can later HYIP arde into turning each of your 0.15 into 0.3

me1 [0.00 <:> 0.30] you [0.15 <:> 0.15] HYIP1
                                      [0.15 <:> 0.15] HYIP2

HYIP1 can you send me1 payment of 0.15
HYIP1 can you send me1 payment of 0.15

me1 [0.30 <:> 0.00] you [0.30 <:> 0.00] HYIP1
                                      [0.30 <:> 0.00] HYIP2

me1 closes channel... yep thank you for the free coin...
me1 started with deposit 0.15.. ended with withdrawal 0.3
me2 started with deposit 0.15.. ended with withdrawal 0.3

total gain 0.3
1845  Bitcoin / Bitcoin Discussion / Re: Noob reflection about Lightning Network. Will it really work? on: September 13, 2018, 08:33:40 AM
yes it requires moving your money into an address that locks the funds up. (as you say deposit) and also the same when you want to get funds out of LN (you would call it withdrawal so to use LN is 2 onchain transactions.

the "benefit" is supposedly that if you know you are going to pay a certain amount of people X times and you know they use LN. then instead of paying them X times directly with bitcoin. you can save x-2 of costs by using LN

yes the bitcoin fee's have been controversial for about 4 years now. its gone beyond a penny per tranaction which has pretty much rulled out a few third world countries wanting to use bitcoin because bitcoins fees are more than an hours wage in some countries.
before 2014 bitcoin actually had a fee mechanism that actually helped control how much people paid and also it went DOWN when the bitcoin price went up to ensure that when bitcoin went from $6 to $600 the fee in sats went down to keep prices below a cent

anyway back to LN
LN is not a bitcoin feature. LN is its own network. a payment system with no currency. in the future LN nodes can use it for many currencies as long as the two users of a channel agree on what transaction format(currency) they will play with.

with that said. if bitcoin continues to raise the bitcoin fee. people will while inside LN prefer to swap btc for a altcoin with cheaper onchain fee's but still able to access the same merchant tools and exchanges. thus there are negatives of LN about becoming a fortknox. people deposit btc and withdraw, for instance litecoin.

as for the whole 'bitcoin fee war', 'bitcoin cant scale'. those 2 things are untrue. fee's can be reduced with code and bitcoin can scale onchain with code. but certain developers prefer to reduce bitcoin from being:
medium of exchange
store of value
payment system

by refusing to code solutions for onchain innovation, to make bitcoin just be:
store of value.
however by removing bitcoins utility of medium and payment. its 'perceptual value' and desirability dies and so that kills the store of value aspect.

its just a real shame that its a few bitcoin devs themselves that are behind the "it cant scale so we wont try" mindset.

LN could have some niche for those who do many transactions an hour. such as gamblers and day traders who arbitrage. but for normal common peoples usage where they only do an average of (visa stat 40tx a month) (btc stat 5tx a month) its harder to preplan spending habits to want to deposit more than 2 days visa spending or 3weeks btc spending to then lock that amount into LN and use it efficiently

but yea even with a niche for 'spam'(repeat spenders above the norm) users, LN still has some flaws and also less security, less ethics and less of the ethos/point of why bitcoin was revolutionary. but as i said LN is not a bitcoin feature. its, its own network which many coins will use. which in itself will not help bitcoin if bitcoin devs continue to not progress bitcoin and instead aim everything in LN's direction as the solution
1846  Economy / Speculation / Re: The reason why bitcoin will never *stay* below 5000$ again. PROVE ME WRONG on: September 13, 2018, 07:11:53 AM
now here is why bitcoin wont go down
acquisition costs
1. mining. right now miners have to buy equipment and pay electric to acquire fresh coins. the cost of this is, based on this months LOW hashrate of 42exa(5th sept) =$5670.. only the mining pool that mined coins at 42exa's block would sell their coins for $5670 to just break even. no mining pool will sell their coins at a loss so the other coins they mine this month at higher hashrates would have a higher cost average.

2. trading. since november 2017 and retested end of june 2018. no trader has sold below $5800. there has been 10 months of oppertunity for anyone who is happy to sell below $5800 to actually sell below $5800... no one has.
as for those that did sell at $5800 in november and june they sold, they are out they took their funds and left. the buyer of those coins now has a cost of $5800 and they wont stupidly sell for less.

3. looking at the UTXO data over 65% of coins have moved/changed hands since the $5,800 price point. and they have not sold below $5800. the other 35% are older coins. which some say could be lost keys, held in trust/for retirement. locked in bankrupcy legal blackholes(mtgox). so in short 2 thirds of the community dont want to sell for less because they have ben active enough to show they had oppertunity. but have not sold when they had the chance

4. so since the november and retested a few times. people with coins and mining coins have to a majority of over 65% collectively agreed they wont sell below $5800.

now lets imagine that the $5800 could be broken.
the idea is that of the 35% that didnt move/spend/sell even though their costs are below $5800 is because they:
have not checked the price for a year and didnt realise the price
lost their keys.
not ready to sell yet

now we all know that the 35% doesnt belong to one person. and if it was a group and they wanted to collectively collude. they would have done so already. they had many chances to group up.
but if one person had 5000btc to sell down the market volume of bitfinex to $5800 or 2000btc to sell down the market of GDAX. before they even get to sell their last coin. the market buyers wishing to buy over $5800 would be grabbing coins before 5800 and the price wont get to what the seller wants to push it down to, in short it would flash crash and then the buyers will see it as a discount opportunity and recover the price back up.

it would require alot of coins to tank the price and then perpetually keep it down to fight off the buyers who will be counteracting those efforts.
this worry is the whole thing about the "what if MTGox,, what if satoshi" .. well as i said earlier. they have had plenty of chances while the price is above $5800 to sell

but because 10 months of opportunity has shown no desire to do it and the mining costs show pools wont. id say thats a good case and percentage we wont see the bottom fall out of the market
1847  Economy / Speculation / Re: The reason why bitcoin will never *stay* below 5000$ again. PROVE ME WRONG on: September 13, 2018, 07:08:13 AM
OP is wrong
the topic is good. but his reasoning lacks...

because his whole comment is based on market cap. and he talks about it as if there is a stockpile of dollars held somewhere holding the price up.
sorry there isnt

bitcoins price is made up from a seller having coins and finding a buyer that agrees with the price. the price moves depending on the price agreed.

market cap is just a multiplication of that price.
EG i can make 5 trillion coins. sell 1 coin for $1 and have $5trill cap.. that does not mean there is actually $5trill holding up the price. there is only $1
now there is also no central holding of the dollars to back it up. the person that sold they have taken the funds and moved on.

but lets pretend there was a central store
if i tried to sell my coins. i would not get 5trillion. i would end up with 0.0000000000002 per coin ($1) if sold all the coins to get to that $1 held

in short market caps are MEANINGLESS!!!
1848  Alternate cryptocurrencies / Altcoin Discussion / Re: Why Will Decentralized Applications Eventually Kill Their counterpart? on: September 13, 2018, 03:17:00 AM
blah blah blah
subtle way for someone to announce their altcoin/ico... nice try.
1849  Bitcoin / Bitcoin Discussion / Re: Goldman Sachs CFO confirms they are NOT dropping Bitcoin plans on: September 13, 2018, 02:40:13 AM
Goldmans CEO said they are definetly continuing their bitcoin plans. they said it in a interview with tech crunch
at the bottom of this pag is a video of them saying it

funny thing is that they said this on the 5/6th of september to correct the fake news previously released that they were dropping it. yet its taken a few days for 'media' to cycle through and publicise the correct information

but in short
goldman is stil involved in bitcoin stuff and will do stuff with it. the misunderstanding between the fake news and the reality is simply that they never set a date for when they will release something related to bitcoin ecosystem that people can use
1850  Other / Beginners & Help / Re: What is bitcoin core? on: September 13, 2018, 01:51:43 AM
Latest stable version of Bitcoin Core: 0.16.2  [Torrent]. It was always showing at the top left side.when I log in what is the use of that bitcoin core and is I earn from that website?
first of all and most importantly.

if you are in the mindset of thinking the only way to earn is from bounties on this forum. you need to realise bitcoin is a world currency that has many depths to it and many ways of earning that dont involve bounties.
too many new people think the scope of bitcoin is just this forum.

secondly. bitcoin core is the reference(main/core) software that controls what rules the network follows. yea you might have been told no one controls bitcoin but since 2013 a certain group of devs do make the decisions and others just follow.

there are other software around, mostly simple light/basic versions that dont hold or validate all the data.

there are a couple other bits of software that validate and hold the data. but they just follow the rules that bitcoin core set. it has become common that if any other software that does validate and does hold all of the data. if they were to set up their own community proposal list and attempt to help the community have a second option of innovating the network that is not "bitcoin core" ends up getting treated as an attack /invader.

so in short bitcoin core is the "core" / centre of the development of the network and the control of innovation of the protocol.

bitcoin cores software is known as a full node (fully featured software)
a wallet(holds the keys to make transactions)
the payment system (makes transactions)
the block validator (validates mining pools blocks)
the relay node (relays transactions and blocks)

by using the software you(your computer) validates relays and stores the data. which other people using it also do. so that the data and validation part of the system is distributed amungst all users of the software as there is no central service that does the validation/store of the data.

but you do not earn from it.
1851  Economy / Speculation / Re: Why would a rational person pay 6,000 $ for Bitcoin if he can have its ... on: September 13, 2018, 01:30:05 AM
... payment protocol and money function at its starting price of 0.001 $?

many people thought what you thought. they made their forks and are playing with them now.
but what you dont realise is this

1. the price is made up by the acquisition costs (costs of getting it) when a mining pools needs to buy equipment and pay electric of $5800 to mine an amount that equates to 1btc. he wont sell for less.
the person he sells to might squeeze the pools to sell for $5801.
the person he sells to might squeeze the pools to sell for $5802.
and so on (usually people sell for more that 0.x% profit)

what you find is over time the price goes up because people want it. they see it has purpose. there are merchants. there are goods services that can be bought with it. and ofcourse because of costs they know they can get a certain amount back when they sell it if they dont spend it on goods or services.

those silly altcoin forks that people made and are playing with because they have the mindset of why use bitcoin when they can take the protocol and start their own.. do not have the awareness and acceptance from merchants and those selling goods and services. and do not have a mass of mining hardware to protect their silly altcoins.

if you did not realise. if it costs $5800 today to mine 1btc.
thats made up of a math of it needing X miners a day to make 1800btc

now for an attacker to try to edit the blockchain from the previous block requires X miners to get the data from 2 blocks ago. edit the previous block but include the header of 2blocks ago. create the block solution of the previous block and then mine the another block to even out and then another block to over take everyone elses version.

so knowing it will cost alot to do this it becomes not worth editing the previous block to reverse a transaction you mad to buy a coffee. because it costs 1800x5800 to edit just 1 previous block

now to get the speed to edit a block a few blocks ago. you need to harness even more mining hash speed. so thats even more hashpower then the network if you want to edit mine and overtake to lock in your edit. so it costs you more.

the further back you want to edit the more its going to cost you.
this is why people are happy with bitcoin because its costs more to edit out a transaction than a transaction is worth. and the more difficult it gets to mine a coin the more protected the transactions are

so if you see a coin for pennies. you will realise it only costs pennies to protect it which means someone can copy and overtake cheaply
1852  Bitcoin / Bitcoin Discussion / Re: BTC is near end, proof block 2 on: September 12, 2018, 01:33:41 PM
bitcoin is not a ponzi.
a ponzi a scheme that offers something that has no cost to make. no function
whereby the funds from a new person are grabbed by a Mr. Ponzi and then a small part is then given to a holder to keep them from leaving and mr. ponzi is then juggling balls keeping everyone in. while Mr. Ponzi plans to escape with everyones money

there is no Mr. ponzi holding a bag of funds juggling who needs to be bribed with small amounts to stay.
people are actually paid to NOT hold it anymore. they only get paid when they sell
no one is paid to stay

people are not just buying in either people can make goods or services to trade with people that have coin
people are not just selling out. people can trade the coin they have for goods and services others have made

people can work for companies and get paid a salary in bitcoin

bitcoin is not just a unit of measure that is magically created from nothing. it has a cost of production(mining)
miners dont get paid to hold. they get paid when the sell and not hold. and thats it. once they are not holding it. nothing thats it. no extra money to hold. no extra money after selling. all they get is what they sold it for.

bitcoin has a purpose. its also a payment system. that offers features that other payment systems do not.
i would say this though. LN is not a bitcoin feature. LN is a separate network payment system and LN will be used as a payment system for many currencies. do not confuse bitcoin with LN. they are separate.
right now there are some corporation paid devs literally screaming a false narrative that bitcoin is dead and cannot scale. purely so they can code features into bitcoin to stifle bitcoins scaling and utility (blocklimits and fee wars) and to make bitcoin easily work with the SEPARATE LN system. to make LN the payment system and make bitcoin have less utility.

the sooner we get these bad actor devs away from bitcoin. throw them into developing LN and away from bitcoin...the better
and then we can concentrate on re-innovating bitcoin to be the payment system, and thus retain its purpose, function

but even with these devs messing with bitcoins utility and trying to promote the separate payment system. that does not make bitcoin a ponzi.

as for the mining 'pyramid'
a financial scam pyramid. is about one person getting funds from a few people and if those few people get more people then the first person gets more money by just holding on and staying in.
again miners do not get more by holding. they only get paid when they sell. and once they have sold they are out of that coin they sold.

the reason why the coin production decreases is to be the opposite of inflation. and to eventually not make anymore.
thus limit the amount that can be held by people.
financial pyramids and ponzis want more people to enter and hold. but bitcoin has a limit on how many can hold and also doesnt pay people to continue holding.

EG i have held coins for 6 years and i have not got any dividends, interest or bribes to hold. lets say i held Xbtc. it has not magically become more than Xbtc by holding it.

as for the price when people want to sell. well that fluctuates. and its based on the cost to make it and the price people are willing to sell it for and someone else is willing to buy it for. its free market trading/barter. the price goes up or down.
with the cost to make it goes up and that no one will stupidly sell at at a loss. then naturally as with all things. the price goes up. but it can also go down if acquisition costs go down.. or stupidity. but thats the nature of trade/barter

the coins people have, does not have a secret pot of money held back in my their name to give them ongoing or when they sell. there is no mr ponzi promising anything. people have to find someone to hand coins to either on an exchange or in person and they only get what the new person wants to pay and what the seller want to receive. by mutual agreement.
just like anything else bought and sold in the world
1853  Bitcoin / Bitcoin Discussion / Re: Fight between BTC and BCH communities drive away people from cryptos itself. on: September 12, 2018, 05:36:28 AM
ver and craig dont even hands on code BCH. so they have less actual impact on the cash economy.. and by that standard as the networks are separate, even less impact on the core network

CSW is creating his very own coin and he is actually involved in the process as we speak and he has been involved with BCH too and had actual impact. as for Ver, since you love example so much, for example if you pay an assassin to assassinate someone you can't say your hands are clean because you never touched a gun. Ver funded creation of BCH and not to mention the 24/7 propaganda machine that he runs.
oh and by the way it DOES have effect on bitcoin network. or have you forgotten the way EDA worked by creating a huge incentive for miners to switch (1000+ block/day or 12,500 BCH per day) and caused delays in block generating in bitcoin and made a bigger backlog?

as for Core dudes i never said they are perfect. in fact i'd say some of them should not even be involved in the decision making process. for instance i have not yet forgotten the UASF shenanigans of 2017 with Luke convincing people that it is fine to split bitcoin into two with only an extremely low hashrate.

as you said craig is creating a coin...... and.... nothing
coins are created every day.
the point is while everyone finger points at another coin. they are not looking at the core devs.
let him make 500 coins.. let him wear a dress and put a flower in his hair.. its just drama

ver drama, is just drama.
there was no gun.. to use your example. his "unlimited" was never a mandatory thing. so it was all word and fear over nothing. even classic even XT. none of them had mandatory chain split code.
it was all distractions to create a fan base to put core devs onto a throne and declare bitcoin core the monarchy

the ver owns bitcoin.. again drama. persuade the sheep to put core on a throne with empty distractions of someone

craig wright and ver didnt manually code unlimited themselves. plus unlimited is on BCH. BCH does not affect btc

even hashrate does not effect things.
last week i seen the hashrate go from between 57exa to 42exa a 26% variance..
i seen the highest mempool sizes due to people trying to get in and out of exchanges
neither case was due to anything Bch had caused anything close to

miners pool skip daily.
its all just drama of distraction.

even things like wanting to fill a block header to prevent asic boost. is actually a distraction to fill a blockheader so that people cant just make easy sidechains and circumvent cores roadmap of wanting LN to be the only side option to onchain

but anyway if you follow the money. ver is paid by the same people that pay core devs and pay gavin. and also pay hearne. its all bribery to make them the face of distraction.

what i really loved.. november 2017. while the sheep were distracted by the ver middle finger. they did not see the "segwit1x lock segwit 2x blocked" event that the institutional investors paid the devs/contracted them to develop and activate. which when locked institutional money came flying into the markets and as you can see by the price mountain of november onwards.. .. well maybe most didnt see as they were too busy with social distractions of some non-coder sticking his finger up to a webcam

oh and the round tables of 2016. where developers plotted the roadmap options.. oh wait. too busy distracted by craig wright is satoshi and has some proof coming out soon.

all just distractions
1854  Bitcoin / Bitcoin Discussion / Re: Fight between BTC and BCH communities drive away people from cryptos itself. on: September 12, 2018, 03:42:38 AM
people who aren't already in the community are rarely going to see the drama and the FUD spread by BCH guys about bitcoin. they have to stumble upon these things by accident because it is definitely not the first thing you see when searching about bitcoin. it might have been the case about 13 months ago when Ver wanted to take control of bitcoin but ended up making BCH but it is not so much these days.

the core people and cash people are both the same family..
its all drama
even those defending core devs are guilty of causing drama
look at your own words "ver wanting to take control of bitcoin".. thats you causing drama
wheres your unbiased side of core taking control. you do know that it has ONLY BEEN CORE side that has demanded and performed a mandatory 'upgrade to our code or else' event

but i also find it funny whenever i mention cores flaws people think i must be in ver camp.
sorry i dont play that game.

i called out craig wright on his scams, fraud and other bad practices.
i called out on vers issues too.

but dare i call out cores flaws... OMG thats sacrilegious
CORE actually code the core network. we need to hold them to account. other teams on other networks dont impact cores network. ver and craig dont even hands on code BCH. so they have less actual impact on the cash economy.. and by that standard as the networks are separate, even less impact on the core network

to me they are just ballerina's used for distraction and target practice to deflect people from seeing who is changing bitcoin core network for the worse
1855  Bitcoin / Bitcoin Discussion / Re: What do you think of these controversial statements of Andreas Antonopoulos on: September 12, 2018, 03:11:29 AM
Vitalik did say, 90% of ICO's would be dead, putting the cart before the horse. There's no demand.

yep making a product but fundraising through a crowd is a failed model
EG making a medical/healthcare DLT but ICOing the normal common people. and not actually going to a healthcare provider to buy your product.. means it wont be used by a healthcare provider. thus dead

yep making an ICO for a DLT but not knowing the problem they are trying to solve. or try solving a problem no one wants... thus dead
ICO's have no clue. but all they care about is getting paid for a few lines of code
1856  Bitcoin / Bitcoin Discussion / Re: What do you think of these controversial statements of Andreas Antonopoulos on: September 12, 2018, 02:49:03 AM
andreas at his origins in the community put alot of work into learning about it. and alot of his time to help others without going down the religion conventions of charging people $1000 just to touch and hear him.

he did however start falling down the rabbit hole of believing the hype of a few things too much and showing bias that certain things will be bitcoin utopia even though many seen code flaws and usability flaws.
he seems to recently be backing out of it now and actually telling people to air on the side of caution on these new things. and explaining some of the flaws. so to me he has reopened his eyes and not just followed the yellow brick roadmap.

so he is winning back my respect in some ways by looking at the larger picture again (winning but not won)
out of the 100's of people trying to become bitcoin consultants/advisers. i would put in in the top 3. but i would casually tell people which videos to skip that sound too utopian and too little reality scenario tested

EG 6:00-9:00
"he got into bitcoin because it was not controlled......"
"i got into it because of the crazy people that are involved"

last statement is opposite of his first statement because core is in control. they declared they are the reference/core and they decided the roadmap and future

"in the end its a cleared out sanitised empty database"
core devs scream bitcoin "cant scale" isnt to be used to make transactions as fee's and transactions per block limit utility....

..... this is where i called him a utopian because he wasnt being fully open..

as for others talking about "enterprise blockchains". well they actually have their own term now.. DLT (distributed ledger technology).
and although many businesses want to be involved in al the buzz of blockchains and DLT's.. the businesses need to have fundamental things

1. does the data really need to be distributed over multiple locations while preserving that each locations data is always equal
2. and does it need to be validated by everyone involved.
3. does the data per block need to move/alter by multiple individuals.. or just seen/inspected by multiple individuals

EG business accounts. if the data is just audited by an accountant. and although the end report would get distributed to each employee. each employee wont be editing the accounts. wont be validating it. so no point putting accounts onto a blockchain. just email employees a final glossy booklet of the companies yearly results

EG a hospital where each ward needs to know where available beds are. and make a request for a bed to be moved to a specific ward. and where the ward can adjust when it arrives and when they have a spare bed to offer.. over a multi wards hospital over a multi hospital region.. then yes there are benefits to having it
1857  Other / Beginners & Help / Re: Anyone give me some tips for sell bitcoin. on: September 12, 2018, 02:27:49 AM
find some people that knows of bitcoin but hate the ban as much as you do..
ask them if they are having trouble buying bitcoin. they can buy it off you, over a cup of coffee in a safe location where you both cant literally back stab each other while money changes hands to you and a transaction to them occurs

usually best to find someone you already know. rather than some guy you just met. as it could be the authorities doing an undercover sting industry using the same training as propositioning a prostitute/pimp/client
1858  Bitcoin / Bitcoin Discussion / Re: Citibank is offering crypto custody. on: September 12, 2018, 02:07:32 AM
In addition this fiat based custodian will have a lot of control and possible that they can alter the course of bitcoin's price. You don't have control of your keys, the custodian does and in cases like another split or fork, since they are the majority, they can choose not to follow that split or go on different direction. This is very dangerous for bitcoin crypto verse.

Its good news indeed but I don't think that we can sustain that growth, sooner or later those custodian starts their manipulation, and we will be affected in the long run.

amount of coins held is meaningless.
amount of USER nodes distributed is meaningless.
amount of hashpower is meaningless.

here is why.
core decided they wanted segwit. segwit got activated by threatening pools that if they didnt update to cores proposal. core nodes and businesses agreeing to core nodes will reject mining pools blocks.. and it didnt matter how much hashpower they had.. if they didnt flag acceptance with a version number. they would get rejected.

as for the node. there could be 50,000 nodes. but shill nodes are ignorable. the important nodes are the ones connected to services where people want to sell/user coins (merchants and exchanges)
so if a majority of merchants agree to only accept blocks of a certain version. then people will need to use the version and transact in a way that merchants will see(get) the payments so people can spend their coins.

it doesnt matter if there is 1000 user full nodes or 50000 user nodes.
if the main 20 exchanges and 50 merchants all agree to update to a certain version. then users and pools usually folow or find they cant spend their coins with those merchants.

it doesnt matter if a merchant has 1coin or a million coins. it know if it advertises it only accepts X version. people will use X version.
it doesnt matter if users have 1coin or a million coins. in a fork. they still have 1 coin or 1m coins. but now they have it on both forks.

this is why in 2017. under normal consensus segwit would not have got acceptance as it only had 35% approval.
but with the UASF and the NYA of merchants saying yes to a version of segwit.. segwit got its mandatory split date activated in august

and it had nothing to do with how many coins was held. it was a social cleanse and a bribe the popular USEFUL SERVICE nodes nodes

citibank is no threat. because. citibanks service is not an exchange people will be able to move their coins into. users wont see citibanks node/service as part of the network effect.

i would concentrate on what is known as the BSCartel . the group of core devs and the MERCHANTS that are working together and agree on everything like a heard of sheep. where by most exchanges and retailers who offer products and service for bitcoin operate.
1859  Bitcoin / Bitcoin Discussion / Re: Citibank is offering crypto custody. on: September 12, 2018, 01:54:38 AM
seems people are mis-understanding thinking that citbank custodian means normal people can walk into citibank and secure their bitcoins in the bank like an online wallet.. well no. no and no

what citibank is offering is for INSTITUTIONS not common people. to use citibank as a trust to hold and secure BTC so that institutions can then offer SHARES to investors. shares that meet financial regulations that normal OTC btc cant

also its not a sign that banks will do bitcoin ATM's of offer bitcoin OTC at the local bank branches cashier desk.. again no no no
its not going to b run by its consumer 'bank' division as that has its own regulations to only handle fiat. not btc, not baked beans and not bread. just fiat.
it will be run by its investment division

imagine having a service that holds reserves of 200,000 coins.
and they set that it would be 6000 shares per coin.

1,200,000,000 shares at ~$1 each
now imagine the bitcoin price never changed.

but imagine more than 1.2 million people wanted a share.

1. they cant just raise the share price to tempt some to sell or due to high demand. the share needs to be fixed to a 6000th of a btc.
2. they cant just dilute the shares(add more shares per btc) because then if they wanted to double shares. suddenly each share is only 50cents

what will happen is that the trust has to buy more btc. where for every btc gives the trust 6000 new shares to offer.
(it was something i learned in 2014, forgot and remembered)

so although ETF are not letting investors buy bitcoin direct. if all 1.2mill shares are bought the trust cant dilute or raise price of share but can buy more bitcoin privately to add to the trust to add more shares

which unlike gold and forex etf/dar's bitcoin ETF can INSTANTLY get audited at no cost. with a simple publishing the bitcoin address of the trust

1860  Bitcoin / Bitcoin Discussion / Re: Fight between BTC and BCH communities drive away people from cryptos itself. on: September 11, 2018, 11:11:57 PM
the drama is drama

its all a distraction to take peoples view away from the development struggles on the core network.
craig wright is a scammer
roger ver is not a code
both are not coding in the bitcoin core team..

so in reality.. they can dance around in twinkling ballet outfits with glitter makeup on.. it wont affect bitcoin.. so why even fear/scream/mention/dramatise them...

if you actually follow the money. they are actually deep inside the pockets of the team that envisioned and created the core road map...2015

anyway lets go into a coder that is inside the core team that has more questionable thoughts.

we have cores Luke JR attacking bitcoin cores network by saying it cant scale.
translation.. the blockchain invention is broke and wont innovate

we have him also helping with the UASF to show that consensus technology is also broke
first by saying that consensus broken because something can be slid in without a hard fork.
translation if segwit didnt need consensus or a hard fork. it would have got its place by december 2016

and then by mid spring 2017 that a hard fork doesnt need community consensus
translation his buddies managed to threat and fear the community to adopt a 35% voted segwit codebase. which without the mandatory threats and gameplay would not have got accepted by the deadline
yep he proved consensus can be bypassed.. although needed a hard fork to do it. but tried calling it a soft fork to sway the sheep to sleep about his hypocrisy

luke also helps attack bitcoin core by moderating proposals to stop random people from proposing code changes.
translation. proving its not open, proving its not random users able to add their part
thus keeping bitcoin core on the roadmap that the barry silbert portfolio really want.

yea barry silbert faked a segwit x2. but thats just another way to push the roadmap to commercialisation

but while actual changes are happening to the protocol to change it into something for commercial benefit.. all you will hear is drama about a hand full of guys not even coding core. thus not affecting core.. but hey.. look look ver craig don this. look at them ignore core devs actions look at ver. please sheep look at ver (note sarcasm)

now for the serious message. stop looking at the drama distraction and concentrate vet, review and hold those that can change core to account.
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