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1305
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: June 12, 2015, 04:13:07 AM
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Casares is openly skeptical about the ongoing – and increasingly popular – blockchain tech trend, which has seen many mainstream financial institutions and prominent figures hail the distributed ledger's disruptive potential while undermining bitcoin as a digital currency.
"I think that most people who say that do not understand what they're talking about," said Casares, adding "I think that they are trying to be politically correct."
Back in the day, he explained, executives or business people were reluctant to go on-record to comment on the Internet's promise, in fear of any public backlash if it failed to succeed.
Traditional finance organisations, said Casares, do not want to say anything positive about bitcoin. Instead, they insist on using a very convoluted argument that praises blockchain tech, but dismisses the digital currency. "It's childish," he added.http://www.coindesk.com/wences-casares-the-bitcoin-obsessed-serial-entrepreneur/?utm_content=buffer60df4&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
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1310
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: June 11, 2015, 06:10:00 PM
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Is it FUD if the dangers are real, clear and present? Forewarned is forearmed. Anybody who wants to run on the XT fork deserves to know the dangers they are getting themselves into. Attempting to censor me through intimidation is not going to work. MoA, I've appreciated your past comments here, but think you are wrong on the XT fork paranoia . These replies to you over in Reddit explain why the fork is fine and how you can verify it. https://www.reddit.com/r/Bitcoin/comments/394fn1/mike_hearn_in_about_1_week_bitcoin_xt_will/cs0fvmdthis is really funny since i immediately suggested this to MofA weeks ago when he protested when XT got announced. and i am not a coder. i can go back and get the quote if anyone doubts me: Hearns:
You can easily use "diff -ur" to see the differences, or use the git command line (eg "git diff 0.10.2A..upstream/master"), or just look at the commits as they are all rebased onto the top of the upstream branch. |
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1312
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: June 11, 2015, 05:38:50 PM
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I don't get all this hand-wringing about hard forks.
Everyone is paranoid that their fork won't be popular (whether among end-users or miners).
They seem to forget that on a world scale, nobody gives a crap about bitcoin still. Whether your fork occupies 0.0004% or 0.00004% of the world money supply is a rather minor distinction.
Look at it another way, would it be that horrible if your fork of bitcoin was "only" as popular as bitcoin was in 2011? That didn't stop anyone in 2011. And your fork would be way easier to use than bitcoin was then.
Put yet another way, I'd rather bitcoin be "right" than "popular". Whichever fork is what I want, that's what I'm going to use. If I wanted a "popular" currency and payment system, the dollar and Visa would be obvious choices, but that's not what any of us want.
and therein lies the answer of which fork will be most popular and will win at the end of the day. hint: look at the polls. in other words, devs can dev all they want but they won't if they aren't being funded. |
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1314
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: June 11, 2015, 05:16:22 PM
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even under the "benevolent dictator" scenario, that principal core dev would not control Bitcoin and it would not be decentralized.
the decentralization comes from all the full nodes, miners, and user base which is spread round the world with the economic majority calling the shots of which the "benevolent dictator" must listen and respond to otherwise someone just creates a hard fork to which the economic majority will migrate to all possible b/c of open source and Satoshi's original design.
which is why we need to stick to Satoshi's original vision and reject bastardizations of it like SC's.
Did Satoshi's vision include kludging around the problem that the 'correct' chain may not be the longest one and it might be necessary to feed auxiliary data to SPV clients such that they could make choose the appropriate choice (since, of course, the user is incapable of doing so on his own?)Just curious because your 'benevolent dictator' seems to see it as a distinct enough possibility to publicly muse about. I would suggest that once such a solution was in place, it would be an extra tool in the taint-coin toolbox even if abstract layer economic methods themselves failed to do the job. The economic-only methods themselves might fail if Bitcoin cannot be bloated sufficiently so it would be good to have a back-up I suppose. depending on what majority % XT decides to turn on the large block setting, i don't think the bolded part will happen. if enough of the economic majority switched to XT the others would have to follow. |
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1315
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: June 11, 2015, 04:47:28 PM
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all of the armchair logic spewed forth from financially conflicted logisticians, including myself, are invalid until "proven" otherwise. the only reliable, proven scheme that has worked to this day is Satoshi's original blockchain which has been constructed with the proper incentives. this proven mainchain should be nurtured, cherished, protected at all costs to avoid subversion.
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1316
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: June 11, 2015, 04:39:41 PM
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even under the "benevolent dictator" scenario, that principal core dev would not control Bitcoin and it would not be decentralized.
the decentralization comes from all the full nodes, miners, and user base which is spread round the world with the economic majority calling the shots of which the "benevolent dictator" must listen and respond to otherwise someone just creates a hard fork to which the economic majority will migrate to all possible b/c of open source and Satoshi's original design.
which is why we need to stick to Satoshi's original vision and reject bastardizations of it like SC's.
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1317
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: June 11, 2015, 04:04:07 PM
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with all the BS-FUD swirling around from all the armchair logisticians, the safest, wisest course of action is to fall back onto Satoshi's original vision, grow Bitcoin proper.
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