He isn't saying that Core will unilaterally take the decision to start orphaning blocks. He's saying that the network participants, miners and nodes, have the power, if they really wanted, to force activation of SegWit by orphaning blocks. But it's also equally possible the network participants won't elect to do that. The option is there. That's all he's saying. The users make the decision, not Core.
But in fairness, I suppose if anyone proposed the same tactic in an attempt to active a hard fork, it's pretty clear that the people in the other camp would overreact in equal fashion.
bip9 is a core invention that bypasses users choice. its purely a pool election. not a full node election. they went soft to avoid user choice. and if pools dont go for core code those pools loving core can ignore those pools not voting for core. thus creating an intentionally splitting hardfork to activate a softfork thus again no user choice and no pool choice. core can blacklist if they got anything above 75% to force it in but prefer to wait for 90% to force it in or hope for 95% to not need to force it in as for my mindset. although core do their own spoonfeeding. there needs to be open discussion from those not core.. otherwise its just circle jerking the flock of sheep down a single path. in an open network there needs to be diversity. i personally think that the only 2 options are core or BU is bad. there needs to be more diversity and that all implementations should have releases of eachothers 'bips' and let the networks have a true free choice related to which bandcamp they prefer EG BU have a dynamic block release and a segwit+dynamic block release EG core have a segwit release and a segwit +dynamic block release. then its true free choice but like i said only 2 'bandcamps' that dont support open choice is bad |
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seems nearly everyone has got it all wrong
only 'Karartma1' got closest to the explanation
blockchain is simple
its a block of data chained to another block of data.
its that simple
what the data is, is meaningless
what format the data is, is meaningless
how the data is chained is meaningless..
EG PoS or PoW are both forms of blockchain chaining. so saying it needs PoW as a prerequisite is not true.
it could be just hashed using md5 it does not need to be Sha256
it could be done using signatures or even a different way altogether
as for the data, this does not need to be financial transactions. it could be domain data, such as namecoin uses
it could be identity data.
what makes bitcoin unique are what satoshi decided to do as extra layers to make bitcoin unique.
when satoshi talked about blockchain in the BITCOIN whitepaper he was concentrating on BITCOINS utility of it
trying to say a blockchain needs bitcoin pre-requisites is then just simply trying to confuse blockchain with bitcoin.
bitcoin is way beyond just 'blockchain' in many many ways.
others are playing around with blockchain by choosing different options. EG name coin stores domain name data.
other coins are using PoS others are using PoA.
some are closed service/private chains where only a handful/select few have full access.. while others are completely publicly
some are distributed to thousands some to only a few dozen
the options are endless but the pre-requisites are not set.
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I have suggested such a thing years ago; but why reinvent the wheel? -->it exists already, it is called "Bitcoin"  the PBOC are government banks.. bitcoin should stay well clear from them governments want taxes and banks want fee's and debt to then charge more fees on bitcoin should stay well clear from that. however normal people.. the 7 billion people not working in a government position of power should have the freedom to use any currency they please. if this means bitcoin then great. let the commercial banks dry up and drop out. let the governments sack their leather seat lobbyists and lucratively paid expenses syphoning bureaucrats. so that any government taxes go back to a lean and clean public service allocation, once they have killed off the dead weight in response to a drop in tax income due to non national trade. but lets not let governments/banks become the international holders of the IMF super power LN hub. dominating and hoarding all the coins. keep bitcoin open and free of control, and leave governments to do their thing |
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your obsession about btc value entertains me..
exactly how do you define value.. oh wait. your going to tell me a surge in the.. 'dollar' value..
lol
the funny part is i have never ever seen you talking about cost of living, or any other measure thats not dollar derived.
but i have seen you many times want bitcoin to be centralised, commercialised and government/bank accepted to cause a fiat rise so you can make fiat profit when you exit bitcoin.
Again, the exact opposite is true. I've made multiple posts about inflation related topics and criticized other users for being attached to fiat money. I'm frequently talking about precious metals as well. Franky, you have proven to be a truly professional troll. Welcome to my ignore list. I think you deserve negative feedback for defamation as well. But I have to think about this a bit more, because there's a high probability that you're sick mind would interpret negative feedback as acclamation... ya.ya.yo! defamation? firstly there is no person with a birth certificate of yayaya to be defamed secondly you have no reputation to taint. your pseudonym has tainted its own reputation often thirdly it would be more wise you do some research and have an independent thought now and again because most of your rhetoric sounds like your just spoonfed by blockstreamers fourthly the more people that you ignore for having an independent mindset, will just leave you only talking to blockstreamers and just circle jerking the same false ideologies thinking your correct because your circle jerking club all are spoonfed from the same bowl. but have a nice day |
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Well, it would be much easier for them to just use Bitcoin for all international payments. But as always, statists need to prove their relevance...  Actually, if the central banks of BRICS would buy Bitcoin and promote its use for national and international trade, the dominance of the USD would vanish in no time. Because of the first-mover advantage and the resulting increase in BTC value such a move would be highly beneficial for them. Not mentioning the possible savings by ceasing the issuance of national currencies... ya.ya.yo! you have to accept that banks are not going to move over to bitcoin. but what you should also accept is that bitcoin SHOULD NOT move over to banks. bitcoin should remain open and borderless as a free choice against the bankers. but it seems all your rhetoric is about a fiat valuation so you can run back to fiat one day. Hey franky, how's UnlimitedCoin doing? It's always funny to read your attempts to misinterpret and contort statements and facts. You definitely have some talent here (Roger Ver will certainly be proud of you). As always: None of your conclusions is correct. I neither hope for banks to move over to Bitcoin, nor do I hope that Bitcoin should move over to banks. In fact I'm extremely anti-fiat. It's impossible that you are unaware of this, because I frequently criticize for-fiat-traders and (affiliates of) bankers. ya.ya.yo! your obsession about btc value entertains me.. exactly how do you define value.. oh wait. your going to tell me a surge in the.. 'dollar' value.. lol the funny part is i have never ever seen you talking about cost of living, or any other measure thats not dollar derived. but i have seen you many times want bitcoin to be centralised, commercialised and government/bank accepted to cause a fiat rise so you can make fiat profit when you exit bitcoin. |
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Well, it would be much easier for them to just use Bitcoin for all international payments. But as always, statists need to prove their relevance... Actually, if the central banks of BRICS would buy Bitcoin and promote its use for national and international trade, the dominance of the USD would vanish in no time. Because of the first-mover advantage and the resulting increase in BTC value such a move would be highly beneficial for them. Not mentioning the possible savings by ceasing the issuance of national currencies... ya.ya.yo! you have to accept that banks are not going to move over to bitcoin. but what you should also accept is that bitcoin SHOULD NOT move over to banks. bitcoin should remain open and borderless as a free choice against the bankers. but it seems all your rhetoric is about a fiat valuation so you can run back to fiat one day. |
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that is why I am saying there should be some end to all this bullshit, maybe this time a new exchange runs away with millions and people start thinking about new alternatives.
same words were said in 2011 when bitcoinica went same words were said in 2012 when intersango went same words were said in 2013 when trendon shavers went same words were said in 2014 when mtgox, cryptorush went same words were said in 2015 when mintpal, and cryptsy went but people dont learn. they all treat exchanges like a long term bank and trust third parties the only way to change things is to change HOW exchanges hold funds. because people wont ever learn to avoid exchanges |
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maybe this time turns into something good for bitcoin trading platforms.
I meant there has to be a last straw that breaks the camel's back right? how many times we have to hear about some exchange service getting hacked before we start moving on from these type of exchange and to better ways of trading which are less susceptible to hacks.
they were never hacked do you really think they are going to be honest and admit to embezzling funds.. ofcourse not |
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Some of the most famous Bitcoin robberies were inside jobs. Here are two well known examples:
1. Robbery of Mt Gox by Mark Karpelčs
2. Robbery of Sheep Market Place by Tomáš Jiřikovský
bitcoinica trendon shavers mtgox mintpal crytorush cryptsy |
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what you told is correct but after that low do you think that they would not have bought back in low and averaged the price and right now they will be in profit and if i am not wrong then they would have cashed it out in $ 930 range that time the price also crashed little bit and now back the price is up.
yes some have bought in low to average down. but that just adds more ammo to suggest now they averaged down they will be "at profit" when they get the $1200 again. thus more inclined to cash out. and as i said before. it does NOT require 8million coins to cause a crash, and thus a bank run to cause exchanges to run scared and scream 'hacked'. it requires alot less coins. put it this way. imagine there are only 300,000 coins that are 'supposedly' in an exchanges reserves. knowing exchanges are probably spending the reserves through the back door (fractional reserving) while the customers are playing with false mysql orderlines and balances.. it only requires less than 300,000 coins to go in the wrong direction to cause a bank run and the exchange wont have those coins available to allow for all withdrawals. because there isnt 300k coins to repay all customers they would be required to hold their hands up and reveal they embezzled the funds. meaning criminal act and prison time..(bing honest hurts them so dont expect them to be honest) or fake a hack and walk away leaving customers in a cluster-f**k of legal actions with some high spending lawyers in bankrupcy court over a 2-5 year period. while the exchange owner sips cocktails on a beach. |
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the government OWN their fiat. so they can ban THEIR OWN old currency.
but by governments getting involved in bitcoin they then become controllers of it.
best thing to do is leave bitcoin as it is and just make laws around their fiat.
You may not be knowing Franky1, but India is a crazy place for online users. They banned many Porn sites when there were some Rape cases got widely publicized. Although there were rape cases found from long time and more than 75% of the time it won't even reach a Police station. They banned many torrent sites when the "Bollywood" movies got leaked before their release and most of the people downloaded them from torrents. Where the real fact was the films were leaked from Censor board, which is a govt body. I guess you know what am pointing at. The BTC community needs India. It is a big market for anything which is new and valuable.  i know what your trying to say. but right now.. india doesnt by default treat everything as illegal until they say yes.. bitcoin doesnt need indian government to say yes to make bitcoin legal.. bitcoin is already legal by default. what should not happen is for india to get a grasp of bitcoin because to get control. they have to first rule it out and then they get to play around with exceptions, licences, allowances, and other things.. so logically its better to not rule it out in the first place to then play around with licences, but instead get india to strengthen the FIAT edges into and out of bitcoin. by requiring FIAT touching exchanges to require consumer protection insurance. and tax filings. rather then trying to go for bitcoin itself in other words dont tax bitcoin.. just tax people when they withdraw fiat |
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exchanges need to change
firstly
exchanges should ask their customer to register an empty public key. (emphasis PUBLIC)
the customer keeps the private key a secret.
next to log in users are shown a message. and the user has to paste in the signed message, to prove who they are.
that way 'passwords' are not saved on databases or involved because the message and reply(signature) is unique at each login.
next
the public key is used with a public key belonging to the exchange to form a multisig.
the multisig becomes the deposit address.
then when users want to make an order they sign a multisig transaction to give the exchange X of total balance. to place that X onto an order.
this way funds are made more so as a 50% user-50% exchange control of funds. and outside and inside hackers cannot take 100% control
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lol dig deeper. try serving a court order or slapping him with a wet fish and you notice all of his public addresses lead to PO/drop boxes my rule is never to trade with someone that you cant find where they really reside to slap them with a wet fish should they do you wrong |
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franky1 how many of the holders do you think will just give in to the temptation and sell off everything around $1300-ish and do you think this will cause a massive drop in the price again? I think at least 50% of everyone holding Bitcoin would sell something or everything following a new all-time-high.
what you have to realise is that although there are 16mill coins in circulation.. the bitcoin price is not managed/caused by 16million coins. it moves based on ALOT less coins. not all 16 mill coins are held in exchanges. only a fraction of circulation are in exchanges it only takes a few thousand/few hundred thousand coins to shift the price because the resistance walls are lacking. take MTGox. at most they had was 1mill coins out of 12mill coins at the time.. yet mtgox caused a price crisis of $1200->$250 now there are less than 1mill coins per exchange so there is less resistance, thus it does not take as much to cause price movement. so im not going to say it needs 8million coins to change hands to cause a dump because that if factually untrue. it only needs a couple hundred thousand coins at most to cause a dump. just think about that |
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Now there is no central point of failure like before mt gox got over 80% trades of all bitcoins.
Now its distributed quite evenly, so its not dangerous anymore.
poloniex and bitmex seem to be the 2 top volumes that would suffer most. though its more diverse. doesnt mean that their isnt obvious targets for 'inside jobs' crying hack when you start looking at poloniex and find they dont really show real CEO office addresses and only show PO/drop box addresses. meaning you cant exactly serve them papers.. you can see they are able to run fast after a hack |
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someone who has waited 3+ years and sustained about 86% loss and then back up, is not going to sell at the price he bought at. first if all i seriously doubt that anybody is holding $1200 bitcoin until today, unless they bought those coins for spending or holding for 20+ years.
and if they bought as an investment it doesn't make sense to sell your idle money after 3 years without wanting profit.
there is if you see the price jump from $700-$1000 in a month.. you get the fear that its another pump and dump and dont want to have had a chance to break even should it reach $1200 and be left at a loss should it drop below $1000 again soon after personally im still holding alot of coin from the days of the $6 btc so im in for the long, and hoping merchant adoption expands to never need to directly return to fiat. but those that made a bad decision in 2013 hoping for a quick profit and then get out.. but left stuck at a loss, would have now come to the conclusion of just hoping for a break even and never return. anyone caring about the fiat price so much obviously is not thinking about staying in bitcoin. anyone caring about the bitcoin for a 20+ year investment obviously is not caring about the daily-monthly price drama.. so those looking daily-monthly at fiat, or only talking about fiat rather than bitcoins utility.. obviously want to get out asap |
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i have a feeling as soon as we get to $1200 we will see those that bought in late at the '2013 all time high' will want to exit out of fear of being burnt twice and having to wait another 3 years to exit. so they will jump out as soon as they can break even.
which will trigger a bank run and reveal the secret spending of exchanges who then cant pay out the coins that they were suppose to hold for their customers but didnt.
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I am not referring that Indian government should make it the official currency or interfere in the Bitcoin transaction. Am talking about the recognition.
As far as I have understood the government banned the old currency notes to curb the Black money from the tax evaders. And now Bitcoin have become a way for those cheaters to convert their black money into.
The thing is if any government would find something like this, then they will not be bothered about the value of the Bitcoin, rather they will just ban it, which is not good for most of the good people who use Bitcoins.
the government OWN their fiat. so they can ban THEIR OWN old currency. but by governments getting involved in bitcoin they then become controllers of it. best thing to do is leave bitcoin as it is and just make laws around their fiat. |
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The sad thing is that the Government of India is still not thinking about Bitcoin as a currency. The Reserve Bank of India still has to regulate Bitcoins in order to get some official recognition to Bitcoins. It is the future of money and needs to be recognized by governments as early as possible.
no no no the best thing is for the government to do nothing and not get involved in bitcoin. just leave it free and open for people to do what they like. EG indian government dont care about people growing garden plants in their own garden.. but as soon as you grow rice. suddenly you have the government breathing down your neck. this is not because garden plants are legalised and regulated and rice is illegal.. its that rice is regulated and garden plants have NOT been classified, touched, cared about, or regulated so free to do anything with. thus by doing nothing to classify bitcoin means people are free to do as they please. yes india should regulate businesses that want to profit from FIAT trading. and tax people when they convert to fiat.. but going for bitcoin directly is silly and foolish |
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That is actually a good idea but we all know that allied countries will not favor that. The United States of America will be the number one to go against that. They will not allow that the US dollars will not be on top and they will do anything just to stay at the top of the financial and economic system.
I am not very sure how does the system you mentioned works since the link that you gave cannot be opened, hope I can read it to give sufficient and knowledge based opinion on this matter.
part of loosening the grip of the dollar is by china being part of BRIC's* where several countries join together to have their own pricing arrangement away from the dollar * Brazil Russia India China ofcourse the IMF are still top of the financial pyramid but it has become widely known that the IMF is moving away from the dollar as the dollar is losing power. as for blockchain based info.. this will be part of hyperledger. and not related to using bitcoin as for america's reaction.. well forget syria, forget russia.. trump is obviously got his sights set on china.. just look at his pre election speaches and obsession about the word china. look at the american 'patriots' on this forum who are obvious trump supports shouting and crying about china's dominance of bitcoin. its obvious the propaganda machine of fox news will start pushing for support to go to war with china for any little reason they can find
in the early 2000's america got saudi arabia onboard. they are now getting russia onboard (yea forget the fox news spit for spat against russia), america loves russia and gives them billions to help nasa.. whats gonna happen next is after the saudi landgrab of UAE, syria, lybia is over.. america along with their new allies and this will include australia. uk france saudi, etc will start in the mongolia region of china and then move east while also attacking from the oceans on the east heading west to flank on both fronts. |
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