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3501  Bitcoin / Bitcoin Discussion / Re: bitcoin is broken on: June 07, 2017, 07:59:18 PM
if bitcoin is not broken, then why are people screaming for LN
if bitcoin is not broken why are people naively and stupidly thinking the empty gesture of segwit will 'fix' things.

bitcoin was not broken when the buffer limit of a block was way above the data requirement of 2009-2015
but allowing the buffer to grow further was halted.

segwit doesnt 'fix' bitcoin. it still only offers the hope of the same 7tx/s. and thats only if everyone uses new keypairs
then the expectation is of moving people off network into new networks via LN, drivechain, expanded blocks, etc which have different nodes and communicate on different ports of a different network.

which are not a bitcoin fix, but more like making bitcoin derelict and relocating people to new area's.

.
bitcoin meant to be a borderless area for anyone. its turning into a real estate game of bitcoin real estate block for only the super rich and average joe forced into the poorly designed 'projects' area (separate block of apartments for the poor)
3502  Bitcoin / Bitcoin Discussion / Re: [SHOCK] Core dev and Blockstream employee tells bitcoin users to use fiat! on: June 07, 2017, 12:54:47 PM
lol all i see is PoS defenders arguing about VALUE accrued over the year depending on stake..
facepalm

my premiss was SECURITY of the immutable data, NOT value income from who forges blocks.
i think people are missing the point.

having 1 address of 10,000 coins.. does not make the edcsa of that address any stronger than
an address of only 10 coins or only 0.001 coins.. the SECURITY is the exact friggen same.

PoS is not more secure than PoW

PoS is more about wealth distribution. not security

but this has meandered off topic anyway.
3503  Bitcoin / Bitcoin Discussion / Re: Dear Bitcointalk Community, please change your perspective about Bitcoin! on: June 07, 2017, 10:47:50 AM
Satoshi was a visionary and genius but he wasn't a prophet, he couldn't possible know what bitcoin will became in the future.
Sometimes our creations evolve beyond our control and despite our initial plan. Reality will correct every plan.
Op, what do you ask of us? What can we do to preserve original Satoshi's vision? Give out our BTC to poor people?

lol
probably easier to slap devs with a wet fish if they mess with the fee controls.... oh wait they have
probably easier to slap devs with a wet fish if they use bad code and empty promises that still only offer false hope of 7tx/s to avoid real onchain scaling... oh wait they have.

so maybe instead of just letting devs screw with bitcoin, and pretend bitcoin can survive without utility. we should be slapping devs more often
3504  Bitcoin / Bitcoin Discussion / Re: [SHOCK] Core dev and Blockstream employee tells bitcoin users to use fiat! on: June 07, 2017, 10:02:45 AM
ive been around since 2012.

Still you claimed that one could spread their balance over 100,000 wallets and then stake 100,000 times that often.
This is not how it works. A PoS working like this would indeed be pretty stupid and would be exploited as soon as the coin implementing this launched.

You wont get selected more often, because the selection is not just random but random with a probability factor that's determined by your wallet's weight. 1000 coins get selected more often than 0.001 coins, at the end of the day it doesn't matter if the balance of 1000 coins you own sits in one wallet with just one address or fractions of it in 1000 wallets with 1000 addresses.

lol
seems your not reading your own words...
your revealing the flaw while trying to debunk the same flaw.. lol

say the stake is 0.001 minimum

i have 10,000 coins

i can spread my coins over 1000 addresses
meaning each address has 10coins.

now do you think my stakes will get chosen more often than a person with just 0.001
go on be honest. how often will i win compared to a person with only 0.001

think about it 1001 possible 'forgers' 1 with 0.001 at stake and 1000 with 10 coins at stake.
so it not only by having 10 coins vs 0.001 solves the 'weight' part.
but the 1000 also gives me 99,99% of the pie by owning 1000 of 1001 'randomness chance'

anyway we have meandered off topic to th nth degree.

we really need to slap any dev with a wet fish that refuses community input about how devs are halting utility and screwing up functionality, especially if their reply is not 'here is some code'.. but instead 'go back to fiat'
3505  Bitcoin / Bitcoin Discussion / Re: Please, Stop Calling Bitcoin "Digital Gold" on: June 07, 2017, 08:01:53 AM
"Digital gold' describes bitcoin better than "cash" because it's a lousy currency for multiple reasons.   It's far more volatile than gold but I think it's an apt metaphor.   Sorry that you don't like it.

They just call it digital gold because it has similar traits to gold in that there is a finite amount available, you "mine" it, and they are both good safe haven investments during a time of financial crisis. Idk why it bothers you so much. Seems to make sense to me.

I think you don't need to dig deeper why people call it a Digital Gold, As said in the first reply, it has a traits the same as Gold which is also as the best investment, and also the time it surpasses Gold's price, it is always compared to Gold, but the only difference is that Gold is tangible and Bitcoin is not.

People buy gold to safeguard against inflation and economic uncertainty. That is part of what bitcoin can serve as.

Are you really disappointed with the actual functionality of bitcoin in the beginning just for "A Peer-to-Peer Electronic Cash System"?If you are disappointed because of that, I think you guys are stupid, with bitcoin switching into 'digital gold' is very beneficial to many parties, and in my opinion it does not harm anyone,

^ these guys do not understand the reality at all

so lets give them a quick lesson

1. you do not mine bitcoin. bitcoins protocol solves a puzzle in exchange for units of measure being created, its not dug up from a pre existing underground store.

2. its called mining not due to actually being mining, but from fools who wanted to think of bitcoin as gold and so naming the fresh coinbase reward something that falsely makes people think its gold.. which then later makes more fools call it gold. purely because of the term mining.

3. gold, without 'cash' utility holds value because it still has other utility. industrial use and fashion for instance... take bitcoins 'cash' utility away and it has no utility left. meaning its value doesnt hold.

4. without utility, its just data. if you cant spend it, then trading it becomes impossible/useless. because to trade it, is spending it. so taking the spendability away its even worse then a bearer bond

5. if you think scarcity will save bitcoin, take a look at 42coin..

6. bitcoin needs to keep its spendability utility, otherwise its useless

7. people trying to preach bitcoin on this forum using utopian dreams are wasting their time, if your on this forum then those reading the preaches have already got some knowledge of bitcoin and dont need the fake utopian sales pitches.
what bitcoin needs is to stop devs from taking away bitcoins utility.

TL:DR;
bitcoin is not lik gold.
gold have other utility such as industrial/fashion. take away bitcoins 'cash' utility. bitcoin has nothing
scarcity is meaningless without utility.

eg. i go toilet once a day regular.. i could bag it up and over 100 years there will only be 36500 bags of crap. would you pay $2800 per bag of crap if it had no utility and all hope of value relies on scarcity??.. nope
3506  Bitcoin / Bitcoin Discussion / Re: Stop Calling It A Bubble. on: June 07, 2017, 12:46:04 AM
to the OP

bitcoin infrastructure:  meaning merchant adoption, business growth, user adoption is not a bubble

but if your only talking about the "market cap", then that is a bubble
the market cap is a empty wall with no substance holding it up.
there are not billions of dollar just sat in bank accounts to ensure the market cap value holds.

its like housing. even though the average house might value at say $280,000*.. this does not mean that a housing market of 16mill houses is worth
$4,48trill*.

the $4.48trill* market cap of housing is a housing bubble. because if everyone tried to sell their house for an average of $280,000* there is no real $$ to cover every purchase. if everyone tried to, the bubble would burst!!

so stop talking about 'market caps' as that's a meaningless bubble number.

if you care about real value. look for metrics like:
merchant adoption
user adoption
business utility
basically the real strengths of an economy, which all currently point to having bitcoin at the top and having good value and longevity.

again if talking about value do not mention 'market cap'

*number picked for demo purpose only, dont be anal and knit pick its inaccuracy
3507  Bitcoin / Bitcoin Discussion / Re: Are you For or Against "Government" Regulation of Bitcoin. on: June 06, 2017, 12:33:34 PM
when thinking up scenarios of "bitcoin regulation"

just replace the word bitcoin  for beer, and look back 100 years at the 'alcohol prohibition' era and everthing about beer after that.

EG needs licencing to offer beer even when finally 'legalised'.
home brewing is allowed but only for personal consumption. running a business requires licences
if an illegal act (car accident,etc) occurs, the licenced premises that transacted the bitcoin(beer) can become liable


and blah blah blah all the other things about
cutting people off if presumed they had too much
reporting them if you see them drive off (possible risk of causing an illegal act)
limiting who and how it can be sold to

so even though bitcoin as a currency is not in any jurisdiction of a government. just like beer is not limited to one government 'ownership'. governments could mess with peoples lives via prohibition and eventual licencing
3508  Bitcoin / Bitcoin Discussion / Re: Drivechain - scaling solution? on: June 06, 2017, 01:29:55 AM
Average Joe should be using SPV.    Even Gavin uses SPV. 

trying to make it sound like SPV is the future and everyone should SPV is just hiding the importance of full nodes.

average joe should use whatever the F they want. they should have the freedom to decide for themselves what level of involvement they want have

3509  Bitcoin / Bitcoin Discussion / Re: How many bitcoins do you think Roger Ver currently held? on: June 06, 2017, 12:39:04 AM
Ha ha..... mind my own business, but I am really curious.
From what i remember he boycotted bitcoin not so long ago and TOLD everyone that he sold all his bitcoins.
If that is true, noone knows i think.
He is unstable a little :/

no he did not boycott bitcoin. maybe people need to stop reading reddit.
however, gmaxwell loves monero.
real question is

with gmaxwells business invsted to the tune of $90m, fiat not bitcoin..
and gmaxwells adoration for monero.. how many bitcoins does gmaxwell hold.

i guarantee you its is far far far far far far far far far less than $90m worth
3510  Bitcoin / Bitcoin Discussion / Re: Percentage of Total Market Capitalization of Bitcoin on: June 05, 2017, 10:44:14 PM
market caps are meaningless!!

i can create an alt with 5trillion premined coins.. sell 1 coin, yes ONE coin for $1 and make the altcoin be market capped at $5trillion
thus causing bitcoin to look like it is now only 0.6% of all crypto markets.

all because of 1 trade of $1
3511  Bitcoin / Bitcoin Discussion / Re: Drivechain - scaling solution? on: June 05, 2017, 10:22:44 PM
Drivechains are as decentralized as altcoins are, and most probably they would be more secure.
Then use altcoins.  Altcoins aren't Bitcoin.
But they can be pegged to Bitcoin via the Drivechain mechanism - and then they are almost the same Grin

You can use what you want, but then you must take the consequences - you have the choice between high fees or a terabyte-big blockchain which the average Joe can only use with a SPV or a centralized client.

those that want to hop between chains are not going to want to sync to the different chain.. so these people wont be full node runners anyway.
making the side chain weak

secondly those that used to run bitcoin nodes see the bitcoin chain utility diminish meaning all they are holding is a big bag of LTXO which will make them want to turn off their full node too..

all side chains do is make merchant tools start accepting SidechainX coins at retailers and bitcoin just ends up bing a pile of LockedTXO's
where by an LN hub manager(in the most simplified layman terms) owns all the contracts to unlock the LTXO
3512  Bitcoin / Bitcoin Discussion / Re: A little bit of marketing would do wonders for bitcoin on: June 05, 2017, 09:20:49 PM
others have pretty much covered it...

in the future there will be some tweaking to the User interface, the wording, visualisation, ease of use and ease of obtaining.
we will move to where people are trading in 'bits' (0.00000100)
whereby 1 bit will have 100 sats to give the user-friendly feel of

1bit=100sat much like
1dollar=100cents
1pound=100pennies

but we are still in the innovation phase.

bitcoin(protocol name) still has a long way to go before being mainstream ready. so marketting it now can actually end up causing more negatives.

the only fools that want to market it now are the ones that are too impatient and just want to cause a price rise so they can run off to fiat with lots of profits.

we need to concentrate on the innovation first, which itself should take care of the rest
3513  Bitcoin / Bitcoin Discussion / Re: The Million Dollar Bitcoin (article, not speculation) on: June 05, 2017, 08:59:48 PM
>Mentions "enlightened" individuals
>Claims that Bitcoin will be the biggest payment system in the world by 2021 with no basis except for past prices
>Cares about nothing except the price.

Is this satire or what?  I find it hard to believe that someone could be that dumb.

^ this guy gets it.
3514  Bitcoin / Bitcoin Discussion / Re: Drivechain - scaling solution? on: June 05, 2017, 08:51:11 PM
drivechain = using the same soft fork exploit as other things meaning no proper consensus vote/veto. same old avoid user election, hand election to pools, then pitchfork the pools if they say nah thanks.. to then nuke th pools for having an opinion...
all while wasting another 2 years..

sidechains = altcoins

prominently, if people move coins to other altcoins (oops i mean sidechains) then those people end up protecting the sidechain by running a sidechain node not a bitcoin node.

if a side chain can do X. the obviously bitcoin could do X too.. so just friggin let bitcoin do X instead of dilute bitcoins userbase/utility by swaying people off chain/to new networks. (bitcoin node dilution)

seriously whats with devs trying to dismantle bitcoin by crippling it with removing fee controls, halting onchain growth, sliding in empty gestures using exploits that still only offers the same 7tx/s hope.

the 'timing is perfect' the link suggests.
to distract devs from scaling bitcoin with a new roadmap of wasting time on altcoins (oops sidechains) as the next route/level.. again diminishing any promise of time scales of when bitcoin will get its REAL block increase that dynamically moves at a heathy rate (real scaling).

if anyone wants to use sidchains.. just friggen sell your bitcoins and buy an altcoin... dont be fooled into locking bitcoins out of circulation until its a cesspit of only a couple nodes left and merchants not running nodes holding a blockchain of 'locked tx's' LTXO's
3515  Bitcoin / Bitcoin Discussion / Re: [SHOCK] Core dev and Blockstream employee tells bitcoin users to use fiat! on: June 05, 2017, 12:39:08 AM
i have seen many many varients of the PoS methodology (yep there are more than 1) and each of them can be abused by those with certain resources.

The raspberry pi farm wasn't very adequate. What would be the most realistic example of such abuse?

there are hundreds of PoS variants.
some involve using proof of resource (hard drive space) as a way try ensuring pools of 'addresses' dont occur.. by only allowing one address per device/node.
end result people use many raspberry pi's to show as 'individual' address per device/node.. but are all housed in one location.. so pools end up being formed anyway

like i said no matter what different PoS varient methodology people can think up... if the coin gains any notoriety and infrastructure value(spend ability) people will start gaining desire to be part of it and then start looking at how they can game the system to get a little extra luck / bigger slice of the pie.

but again putting the morals of distribution of wealth aside... putting the basement dweller can be rich aside..
just looking at the network security of PoS vs chainwork(pow).. PoW wins

the reason people cry that PoW is unfair.. is exactly the reason PoW is mor secure... because no random person can just get in at ground level and decide what is valid or not. it requires ALOT of resourses, time and cost to secure a block.. and thats the point
3516  Bitcoin / Bitcoin Discussion / Re: [SHOCK] Core dev and Blockstream employee tells bitcoin users to use fiat! on: June 04, 2017, 11:35:53 PM
Because i see here many ppl that like a coffee money can i ask a question?
Has anyone of you buy a coffee in his life with gold?

yes i have... being serious, i have (hint nasdaq)

but you comparing bitcoin to gold is just mis-understanding bitcoins benefits to gold. and why gold on its own has its own unique benefits.
if you take away bitcoins utility of being spendable. and just turn it into a reserve.. it becomes no better than 42coin

gold survives without the 'spending as currency' utility because it has other unique features (industrial, fashion)
bitcoin without the 'spending as currency' utility, doesnt have any other real unique features.. so as i said, ends up just like 42coin
3517  Bitcoin / Bitcoin Discussion / Re: [SHOCK] Core dev and Blockstream employee tells bitcoin users to use fiat! on: June 04, 2017, 11:30:32 PM
i think alot of people are missing the point of the chain work security of PoW

Sorry mate, you been the one who didn't understand how PoS works, and you want to teach us about security concepts in PoS and PoW?

ive been around since 2012.

i have seen many many varients of the PoS methodology (yep there are more than 1) and each of them can be abused by those with certain resources.

so if your motivation is the hope of a payday by you being random person x of 10,000 hoping that within 10,000 blocks you'll get lucky once.. guess what

you will find on any 'successful' coin that would use PoS would have everyone else with atleast 1000 chances and they are getting their income every 10th block

.. but putting the income share/moral argument aside..

the security of PoS vs chainwork........ chainwork wins
3518  Bitcoin / Bitcoin Discussion / Re: [SHOCK] Core dev and Blockstream employee tells bitcoin users to use fiat! on: June 04, 2017, 11:15:14 PM
i think alot of people are missing the point of the chain work security of PoW and are only fighting for PoS purely for a basement dweller dream of being rich from using one laptop.

sorry guys but no matter what feasible method you can come up with to try to bring it back down to basement dweller each user wins.... will within weeks be so-opted/corrupted so that big guns grab the best 'luck' 'chance'.

the reason why no one is doing so already with PoS is because 99% of PoS coins ar crapcoins so there is no motivation for people to game the system even if there are many known 'attack vectors' to do it


if you brush aside the financial sharing... and look at the technicals of network security of the immutable data.
the security of PoW 'chainwork' is more secure than PoS.

the only argument for PoS seems to be around 'sharing' the pie of reward.. which as i say.. give it a few weeks of any coin that has good value.. would get co-opted in weeks..

even 'realbitcoin' admits as much by how NXT forms 'pools'
3519  Bitcoin / Bitcoin Discussion / Re: [SHOCK] Core dev and Blockstream employee tells bitcoin users to use fiat! on: June 04, 2017, 11:00:53 PM
but then the system is just as 'controlled' as you are crying about bitcoin..
so changing PoW for PoS purely for the hope that the little guy gets a cut,,, last for maybe 3 weeks.. then its business as usual for the big-guns

what?
The amount of wallets don't change the total weight you have on the network. You also could run them in x VirtualBoxes and still earn the same amount of interest. Your "control" doesn't change by the number of wallets you run but only by the amount of coins you own.

facepalm

but in a PoS system where it randomly selects certain addresses that have atleast X coin
the big-guns can ensure they have many addresses with the minimum funds required (for V2)and also the majority of nodes to ensure they get 'picked' often.

EG some PoS coins see the flaws of PoS v1 and then add new rules like proof of resourse to prove its not just 1 guy getting selected every time... by randomising which node/address gets selected to certify a block.. hense even with PoS v2 sybil farms can counter that.

as i said
so changing PoW for PoS purely for the hope that the little guy gets a cut,,, last for maybe 3 weeks.. then its business as usual for the big-guns

..

same goes for LN
people think they can get rich just leaving the LN node on and taking a nice ct of the "hop" fee of routed payments... pfft HA. what will happen is the seed DNS will be configured so that HUBS get the most action
3520  Bitcoin / Bitcoin Discussion / Re: [SHOCK] Core dev and Blockstream employee tells bitcoin users to use fiat! on: June 04, 2017, 10:51:08 PM
Yes, and when people would learn, that they don't need these "server farms" that do some mathematical hocuspokus with megawatts of power to "create money" (which they don't), but could actually do it themself with a mere raspi or a notebook running a wallet, this would be great, would help to have more decentralization and more of a "people's money" as it was meant to.

then people will just sybil farm
run 10,000 raspi's from one location to eat a bigger slice if the... (no pun intended) Pie

It doesn't matter, if they have all their coins in one wallet or 10000.

but then the system is just as 'controlled' as you are crying about bitcoin..
so changing PoW for PoS purely for the hop that the little guy gets a cut,,, last for maybe 3 weeks.. then its business as usual for the big-guns
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