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3661  Bitcoin / Bitcoin Discussion / Re: Bitcoin is getting destroyed on: May 24, 2017, 10:16:05 PM

wait.. will you be saying that when LN starts pushing people into multisig permissioned hubs/hops... which is the only 'gesture' benefit left that segwit is suppose to solve

I used to make fun of ETH and ETC. But it looks like even after the DAO and the ETC split disasters, ETH is much more reasonable than BTC now.

It has a similar market cap that BTC had 1 year ago, so ETH is only 1 year behind in progress, and if BTC doesn't pull together itself,  ETH might surpass BTC.

Same with DASH. People criticize DASH because of the masternode centralization. Well then what you call the Lightnight Network HUB transactions?

look even deeper at the Tier network being created.. top of the pyramid.. bitcoins DNS seeds, oh look majority blockstream maintained.. next down the list FIBRE network. ... then there is the core upstream filter nodes..
then the cludge of filtered downstream, no witness, non sanctioned, prunned, lite nodes.. then the next layer LN

then look when they start tweaking the DNS to not include certain versions(segwit activation) in the dns listing.. it all becomes super centralised.
3662  Bitcoin / Bitcoin Discussion / Re: Bitcoin is getting destroyed on: May 24, 2017, 10:02:49 PM
Can you believe this bullshit? A bank transfer that goes through 1 million regulatory loops, and it's inefficiently processed in 4 days costs less than a decentralized P2P payment system? It's utterly disgusting.

agreed overall but a bank transfer is no more than a few entries on a ledger they swap around. a bitcoin transaction spreads through thousands of computers across the globe. decentralization costs, but right now it costs too much.

wait.. will you be saying that when LN starts pushing people into multisig permissioned hubs/hops... which is the only 'gesture' benefit left that segwit is suppose to solve. remember core want bitcoin to not be a payment network but just a once a month settlement auditor(bank statement)
3663  Bitcoin / Bitcoin Discussion / Re: Establishing a New Fiat Currency System, on: May 24, 2017, 08:59:54 PM
fiat money
noun
inconvertible paper money made legal tender by a government decree.

You can't create a new fiat currency system unless you gave banks and governments a real incentive to adopt this system.  Bitcoin is already an alternative currency system and I'm not sure there's anything you can do in terms of fiat.
 

well if you look at how bitcoin is changing. you will see the establishment of LN HUBS... AKA banks.

so under the concept of LN where "banks" are one part of each counterparty LN contract(multisig). you start to develop idea's of how a new paradigm can be created.

ofcourse it becomes less importing for the old 'banks' to remain in management. and new 'managers' take change.
for instance in bitcoin i can see coinbase/bitpay becoming the big LN hubs. aswell as a few main merchants that decide to directly accept bitcoin.

so for a concept of this topic for new fiat fiat, we could see hospitals, schools, becoming the 'banks' of the future
3664  Economy / Speculation / Re: If I showed you this a year ago, would you have believed me? on: May 24, 2017, 06:18:26 PM
but just to ground people



the price movements dont take much these days
3665  Economy / Speculation / Re: If I showed you this a year ago, would you have believed me? on: May 24, 2017, 05:47:45 PM
OP here is your thoughts 11 months ago

https://bitcointalk.org/index.php?topic=1526587.msg15362317#msg15362317
$3000 is not an if but a when.
3666  Bitcoin / Bitcoin Discussion / Re: Establishing a New Fiat Currency System, on: May 24, 2017, 05:16:35 PM
theorising new FIAT systems. each idea are separate

starting with the basics. the new money and who deserves it

idea 1
'new money' /blockreward.
this should be used as the public services treasury.
the funds of blockrewards pay for public services as the way to 'trickle down' funds into circulation. not hoarded by bankers/pools. but done as a way to pay for public services without the people needing to be taxed by 20-50%.
EG hospitals, fire/police/social security office/schools become the 'pools'



idea 2
'new money'
this should be used as the public services treasury.
but is not created by 'blockreward' but instead by parents and doctors forming new multisigs as a 'birth registration' when a child is born that gets funded XXXXXX fresh coin which is then collateral in some format to pay for that persons public services (health, school, pension, unemployment) at a rate of say 15-25 years of healthy living.
3667  Bitcoin / Bitcoin Discussion / Re: What happens to BTC/Alts when stock market crashes? on: May 24, 2017, 03:44:27 PM
unless 2 events happen

network wide bug
merchant services like coinbase/bitpay move to centre around an altcoin.

then just treat the bitcoin price movements as temporary drama.
if the price goes down due to temporary drama dont treat it like a panic, think of it as a discount day

however dont invest more than you can afford.
if you need your hands on the funds within 6-24 months dont invest that amount because if a speculative temporary drama bubble bursts it may take a coupl years to recover.

in short. dont panic. sell what you 'need' and wait for the discount day to plateau and buy want you can afford using funds you dont 'need'
3668  Bitcoin / Bitcoin Discussion / Re: Money Is Literally Pouring Into Bitcoin on: May 24, 2017, 03:31:01 PM
lol this page is fulll of alot of speculation..

but when you look at the volume of trading and the depth of orders and resistance points you see that there is not much big money jumping into bitcoin exchanges.

most of it is hype, such as 'need to keep getting people to buy before people start to sell or the speculative bubble will burst'

..
as you can see it hasnt taken much to move the markets
3669  Bitcoin / Bitcoin Discussion / Re: Japanese Airlines to accept bitcoins soon on: May 24, 2017, 09:58:00 AM
Out of curiosity, how about the confirmation which needs to arrive? Is it just accepting zero-confirmation just like some bitcoin payment gateway do?. The average confirmation needs about 15 minutes to arrive and probably some people still have some time to wait for it until the plane's landing, but, how if the fee is just not enough and the transaction get stuck?.

3 practical issues i see

1. budget airlines = people not wanting to spend too much = why would they agree to a $1+ fee and wait ~10minutes-48 hours
2. many credit cards these days (if you avoid the normal domestic (country locked) ones do not charge much
2. many credit cards these days (if you avoid the normal domestic (country locked) ones do not take ~10mins-48 hours to accept payment. its just swipe and go in seconds

segwit will not fix spam
segwit will not fix confirm delays

locking funds into an LN is like locking funds into a contract with a second party (research multisig) you might aswell just use credit cards, bcause of all the cludgy crap core have done to push people into thinking LN is the utopian savour by removing all the benefits bitcoins mainnet had over fiat/cards
3670  Bitcoin / Bitcoin Discussion / Re: Bitcoin is a good investment, but never a global currency on: May 24, 2017, 09:48:50 AM
So what? 80/20 rule and the rich have no responsibility for the poor also happens now and nothing much bitcoin can do about it.

Pareto principle will only work for marketplace but bitcoin is the good investment for whales or poor. They need to plan the spending according to their economic status and plan the savings accordingly.
$1 fee with no guarantee of confirm in 48 hours (facepalm)
$1 fee = 20 minimum wage labour hours in many countries.. so forgt bitcoin being good for the poor. wake up to 201 reality not the old 2009 ethos/hope.. as thats long gone


It will soon agree as a global currency in future for sure. There is first step by Japan adopted bitcoin as a legal money and implementing btc ATM in their airports and large amount bitcoin exchanges.
ATMs, yea, hope you brought your sleeping bag and a tent while you wait for confirms
3671  Bitcoin / Bitcoin Discussion / Re: Bitcoin is a good investment, but never a global currency on: May 24, 2017, 09:25:46 AM
bitcoin has value due to the utility of being a currency. take away the utility. then all your left with is a clump of data with no function bar being a clump of data.
its like turning bank notes into bearer bonds.. but.. removing the ability to exchange the owner of the bearer bond easily.

bitcoins utility was that it was easier to move than bank notes.
by making it harder to move than bank notes AND harder than bearer bonds especially with the value of the bearer bonds value was based on how easy to transact those bonds were... will make the value of the bonds deminish. thus same situation occurs for bitcoin

its like gold. although it does not have good transfer utility it has industrial utility. remove its utility and watch gold drop. gold wont hold its value. nor would bearer bonds if you take away its utility

if you think that scarcity will keep bitcoin value.. check out 42coin... dead
if you think that scarcity will keep bitcoin value.. bitcoin at code level is 2.1quadrillion units. LN proposes to make that multiply by 1000... = scarcity=dead

some may argue bitcoins price is going up.. yet if you look at stats.. thats fake speclulative prices based on very very few trades..
in some cases i have seen REPEATEDLY the price moves using just $90 or less.. yep shift the market cap by $32million by spending just $90..
screw it i checked the price movements while typing this
3672  Bitcoin / Bitcoin Discussion / Re: Miners are obviously scared of UASF setting a precedent on: May 24, 2017, 08:59:49 AM
I notice now that miners are getting blamed for high fees - ironic, because they're the ones that have been screaming for a blocksize increase for years, which would reduce fees but increase transaction capacity

You fail to catch the full irony of that

While they might in fact have been screaming for a blocksize increase during all these years (I don't really know), but their screams should have been very hypocritical, insincere and hollow since they are the ones who could have actually increased the blocksize if they ever chose so. As I said in my previous post, we should hear what is said between the words and read what is written between the lines

1. pools cannot just increase the block size with a click of their fingers... NODE consensus matters!!
as proven by
Code:
2017-01-29 06:59:12 Requesting block 000000000000000000cf208f521de0424677f7a87f2f278a1042f38d159565f5
2017-01-29 06:59:15 ERROR: AcceptBlock: bad-blk-length, size limits failed (code 16)
drama over in 3 seconds.

2. pools did not remove the fee priority formulae or the reactive fee when demand drops. pools didnt add the average fee to keep prices up when demand drops. all of this was CORE, mainly gmaxwell playing with the fee code.

3. segwit is not stopped due to pools. its stopped due to 67% of who CORE chose as the only voters saying nay/abstaining. and when you ask why.. those voters say cludgy code. pools didnt nominate themselves to be the only voters/deciders. again all of this was core, mainly gmaxwell and luke playing with soft exploits

4. as for my harping on about the cludge of the tier network. and also issues about activating segwit early here is gmaxwell talking about it
https://0bin.net/paste/catFu7J9BqL7zsFq#xByDHjK6HYhzmcXXMVgeBX8tYUB6+-9pb14RBxEJVF0
Quote
<gmaxwell> murchandamus: they'd all end up banning each other.
<gmaxwell> murchandamus: because segwit nodes would hand witnesses to 0.14 nodes, and then get punted because things aren't supposted to have wittnesses yet.
<gmaxwell> Segwit is more than the consensus rule, it's also a set of P2P changes.[the tier network]
<gmaxwell> And the p2p parts are already in effect.
<gmaxwell> Because we didn't want to have the p2p behavior suddenly change and light up a lot of new codepaths when segwit enforcement started.
<gmaxwell> (as that sounded like a receipy for disaster! Smiley )
<gmaxwell> Segwit has the bip9 activiation, and a network service type which is used to make sure the graph of segwit capable nodes is not partitioned, and new p2p messages for transfering messages (tx, blocks, compact blocks) with witnesses if they have them.
3673  Bitcoin / Bitcoin Discussion / Re: Here it is! The perfect scaling solution! Segwit SF followed by 2mb HF. on: May 24, 2017, 12:13:57 AM
before you sniff more glue.
do you understand the cludge of doing it soft. and then the decludge to undo the soft to finally go hard.

do you understand the tech, the code. all the math manipulation

or are you just reading reddit and following the most +1 comment you can find
3674  Bitcoin / Bitcoin Discussion / Re: The Silbert scaling agreement is here on: May 23, 2017, 11:20:15 PM
It definitely looks more promising than what the last agreement was, I definitely think there is some potential for it to blossom into a full-fledged activation of segwit within the blockchain but it is going to take a while to get everyone on board, especially with the omissions that you mentioned. Looking at the names it's not bad, but there are a lot of people that will need to find their place, otherwise it won't work.

until i see code that actually does fix the real issues. its just whistles in the wind
3675  Bitcoin / Bitcoin Discussion / Re: The Silbert scaling agreement is here on: May 23, 2017, 10:56:06 PM
This is 1000x better and deserves serious exposure and consideration: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-May/014399.html

lol screw that cludgy 2 merkle crap if your gonna do a hard consensus make it 1 merkle
lol screw the 'witness discount' cludgy maths. if you gonna do a hard consensus just have everything sit in the same area

plus the proposal is not even address the cry baby elephant in the room of the txsigops. which segwit wont fix!!
as for november 2018!

if core have released
 2017-04-22 - Bitcoin Core version 0.14.1 released
2017-03-08 - Bitcoin Core version 0.14.0 released
2017-01-03 - Bitcoin Core version 0.13.2 released
2016-10-27 - Bitcoin Core version 0.13.1 released
2016-08-23 - Bitcoin Core version 0.13.0 released

5 versions in under 9 months
0.13.1 - 0.14.1 = 4 versions in 7 months... im pretty sure that it wont take a year to get everyone to download one version

id say let it get 80% and then have just six month grace.. not a dang year.

the same fools that want to waste a year for HF were the same ones thinking segwit will be activated in 2 weeks..(christmas '16)
3676  Bitcoin / Bitcoin Discussion / Re: BREAKING: Bitcoin Miners Reach Scaling Agreement for SegWit Upgrade + 2MB Blocks on: May 23, 2017, 08:24:42 PM
its all whistles in the wind and drama until we actually see some code to review that actually says it does 'what it say on the tin'

anyone can have a meeting. but meetings are meaningless.
code rules.. simple
3677  Bitcoin / Bitcoin Discussion / Re: Immutabledger on: May 23, 2017, 08:09:05 PM
oh i see you want to discuss reserving new buzzwords that have no definition yet, no current meaning yet, to use for something meaningful in the future

in that case nice find.
3678  Bitcoin / Bitcoin Discussion / Re: Immutabledger on: May 23, 2017, 06:09:40 PM
try spelling it correctly

3679  Bitcoin / Bitcoin Discussion / Re: Why it's the right time to compromise with a 2MB HF (by Core, not the Barry one) on: May 23, 2017, 03:57:14 PM
Facts:

Bitcoin running under datacenters (ultimate goal of blockstreamist) = network centralized at layer 0(core).
cludgy lite/prunned/no witness stripped running = network centralized at layer 1
LN hubs set up using core DNS seed preferences = network centralized at layer 2

FTFY

by the way the non blockstream affiliated implementations are not calling for gigabytes by midnight..
thats just your FUD to get people to blindly walk in the middle of the core road
then get 1dimensional dinofelis and his sheep to stupidly hypnotise more sheep to running prunned/no witness nodes is good
that running full nodes is meaningless..

go on tell the community,.. who really has been harping on that prunned no witness cludgy software is good.. oh its blockstream

last things... check dcg.co and look for bloq (aka gavin)
yep gavin and hearne are just the drama puppets of the same blockstream/silbert plan for steering towards the bankers hyperledger highway via the blockstream roadmap
3680  Bitcoin / Bitcoin Discussion / Re: Why it's the right time to compromise with a 2MB HF (by Core, not the Barry one) on: May 23, 2017, 03:02:20 PM
nodes on datacenters is centralized.

LOL
you can bait and switch the crap all you like..
you keep parroting the "gigabytes by midnight" nonsense
you keep thinking no witness/prunned nodes (which are not full nodes) is good
you keep thinking cludgy temporary no promise half measure are good
you keep thinking keeping blocks at 1mb to force people into LN permissioned contracts hubs is good

all in all its the same DCG blockstream roadmap or nothing..


you can pretend barry is jihan puppet master, when we all know that he is part of the blockstream one road cartel

all in all its the same DCG blockstream roadmap or nothing..
silbert is the blockstream cartel.

Jihan owns way more than 16%, Jihan has unlimited PBOC and ASICBOOST money to keep bribing companies that don't care about anything but money.

Economic majority wants segwit, economic majority rejects BUcoin.

Lightning network with segwit is decentralized, nodes on datacenters is centralized.

you can bait and switch the crap all you like..
silbert is the blockstream cartel.
http://dcg.co/portfolio/
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