**LOTTA CAPSTYPINGS***
Happy Saturday!
Just to be clear, you seem to be stating that a future where transaction fees being $100, $1000 or even more per on-chain tx is a distinct possibility? That as a possibility is implicit in my thoughts, I'd say, yes. OK, so here's the relevant followup question. When average tx fees are $1000, what is the typical profile of a person willing to run a non-mining validator? Let's start simple on this - how many tx per year might the average such person make? 1? or even 0? average person will fully transact on L2+ Hmmm, while I am a full fan of L2+ for day to day transactions the idea of $1000 fees for transacting on-chain is somewhat hard to digest though. What kind of marketcap are we considering for this scenario? What level of adoption? I do agree that, with a high enough level of worldwide adoption, the average person will probably NEVER transact onchain even if he do use Bitcoin directly (but L2+) or indirectly (100% custodial/off-chain). On an unrelated note: Congrats @AlcoHoDL! |
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Wrong. The hashrate/difficulty is more than 10x higher, not the security. It doesn't take 10x more investment to attack the network than it costed in december 2017 because current mining devices are way more efficient (per $ spent and electricity) than back then. |
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what coins
poor mindrust
I can't imagine that he's a nocoiner, and that goes for mindrust as well. From a psychological perspective, if for any reason you loose/sell/whatever all your coins, it makes sense to disappear. ^ I see what you did there  |
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Man, I REALLY wish he was still here. He would be such a clear voice of reason, I believe.
As an amusing thought experiment, imagine that Bitcoin is successful and
becomes the dominant payment system in use throughout the world. Then the
total value of the currency should be equal to the total value of all
the wealth in the world. Current estimates of total worldwide household
wealth that I have found range from $100 trillion to $300 trillion. With
20 million coins, that gives each coin a value of about $10 million.
So the possibility of generating coins today with a few cents of compute
time may be quite a good bet, with a payoff of something like 100 million
to 1! Even if the odds of Bitcoin succeeding to this degree are slim,
are they really 100 million to one against? Something to think about...
Hal https://www.mail-archive.com/cryptography@metzdowd.com/msg10152.htmlSince I have been here I have tried to document myself with everything related to Finney, this quote is from Jan-2009 (satoshi/hal), the vision of the future that this person had for Bitcoin is amazing. He had a priviledged logical mind. Maybe he was not the best businessman or the best vapourseller, but all of them wanted him. Ie: Phil Zimmerman when he founded PGP software. Sometimes being too much logical doesn't compute with real life.... but I surely hope he was a visionaire too. We will see. |
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I want to publicly thank proudhon, for being who he/she is, always original, always there to cheer us up. WO wouldn't be the same without you. Keep up the good work and be sure to provide your analysis of bitcoin price action. Just make sure it's confirmed before you post. This is very important. Never post unconfirmed data, as this can lead to CGFMs*, and we don't want those in WO.
Thanks again hon.
(*) CGFM: Coins Going Full Mindrust
Yeah, I am so happy to have proudhon confirming all the sources and verifying all the science and maths so that I don't have to do it myself. Thank you llama. |
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A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave. You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations. Don't pay too much attention to this guy. He's a banned Russian troll that has a history of roleplaying as community managers for different coins / exchanges / companies. No doubt he will eventually delete every comment in this thread with which he does not agree, as that is his signature move. He only opens moderated threads which he uses to stir conversation that he later deletes. His primary goal is to cause as much disruption on the forum as possible. I doubt he owns a single BSV. ^ That is some fine prediction there! |
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Those posts/deletions do not belong to THIS thread. It is just the one that BSVtard opened about flagging a lot of people (corrupted cap wearers, etc), that probably got nuked. How would that result in auto-PMs explicitly stating, “deleted by the starter of a self-moderated topic”, with reference to what appear to be past posts in WO? "appear" yes, but are not. I remember the posts and the thread. It "appears" to be pasts posts in WO because a bunch of us came to that thread to mock that idiot about his flags and statements about "corrupt cap wearers". Either the thread got nuked or the idiot decided to remove the posts. This are my removed ones: Quote
Bleh, I have been making fun of those poor bastards since the beginning and I am not even in that list. They can't even do the simpler things right. But what would you expect?
Quote
OP, Please add my entry to the list. I will take whatever spot that's still available. Thanks.
Good Luck everyone!
P.S.: Not under Lauda though. Just Corrupted Capwearer Troll (CCT) here. I would maybe suggest you make two separate listings/columns... buy hey, it's your game! All is well. |
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A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave. You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations. HEY! goddammit
what am I, chopped liver?
I will have you know I was among the first 5 caps you ignorant slut.
 ?? Yeah, again, what the fuck is going on? Whoever you are STOP DELETING THE HISTORY OF THIS THREAD!! SHOW YOURSELVES AND EXPLAIN YOUR BEHAVIOR. Or I will ask Bob to help me find a way to find you and cut you through the internet. Too much? Those posts/deletions do not belong to THIS thread. It is just the one that BSVtard opened about flagging a lot of people (corrupted cap wearers, etc), that probably got nuked. Nothing to see here. |
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I know this is impossible, but I would like to know what Hal Finney would think of the overall Bitcoin situation, exchanges, forks, asics farms, long shorts, bets
Me too. I know one thing, even though Satoshi thought through a lot of variables and possibilities, I doubt that he/they envisioned bullshit forks persisting and hanging around indefinitely. Did Finney or Nakamoto ever mention such an event/situation as a market for forks? 2 sMerit to the first finder of a quote. IIRC, Satoshi only talked about 51% attacks, minority/majority versions of the software, etc... And it is about that where he says only the majority chain would survive making the minority chain become irrelevant. I don't think he really cared or give much thought about the possibility of some people creating a fork no matter if it tried to bank on a similar name, most of the code, or reuse Bitcoin blockchain as an starting point. So... maybe it is a tricky question/challenge? Will keep reading and see what comes... There can only be ONE Bitcoin, no matter how many decide to fork from it for whatever reasons. P.S. About Hal he did talk ( https://bitcointalk.org/index.php?topic=10666.msg152988#msg152988) about forks replacing the Bitcoin Blockchain ("reboot" it) but even if we could extrapolate some of his thinking to the BCH fork (BSV is a fork from BCH, not from Bitcoin) there is still the difference of adopting previous chain instead of starting from scratch. |
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Are you blind? You can see the credits in the image.
No that watermark is the only reason i even found the original link, but most people wouldnt notice it, especially when the image is so small on bitcointalk and the watermark is very light yeah but to be fair the poster may have different settings on his monitor and the watermark could be clearly visible to him. Now as a I don't know the guy and don't care one way or the other about him I can see the watermark on my screen. PS I am colorblind and I have had double cataract surgery so if I can see it its clear enough. I see no issue with what he did. This plagiarizing concept of Bitcointalk has gone too far already. In all other instances I am aware, outside of here, the plagiarizing only exists when you do indeed ACTIVELY attribute the content to yourself in some way or another. Just cut&pasting something you see on the interwebs without any further attribution of authory wouldn't cut it, more so when there is no other motivation than just to share/spread the original "work". Otherwise twitter and many other social networks would have a big trouble with this. That being said, the image posted already includes a copyright (not a hidden watermark) that is as visible as the original author intended it to be. If he wanted it to be more visible he could have chosen more solid colours and or font size. Nothing to see here. Also, Swaystar, if you had any concerns about it... it probably would have been more polite to just PM the poster and I am sure he wouldn't have any problem in making it more obvious it was a shared content and maybe even add a source link. |
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2017 high ~$20,000
2018 high ~$17,000
2019 high ~$14,000
2020 high ~$12,000
Up, up, and...oh wait...
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Coronavirus Cases: 27,202,829. Deaths: 885,764. Recovered: 19,288,016.
So by the time i guess it's safe to say that covid's lethality is higher than the flu's. According to the CDC's own website data for the U.S., 94% of Covid-19 deaths had comorbities with some other cause of death (e.g., flu, pneumonia, heart disease, diabetes, organ failure, heart attack, blunt force trama, cancer, etc.). Only 6% of related Covid-19 deaths were tagged as "Covid only" as the cause ( 11,569 people in the U.S.). Also, 99% of Covid-related deaths were over the age of 65. The majority were 70+. Re highlighted.. The actual number is 79.2% (high, but nowhere close to 99%) Source: Death by age groups https://covid.cdc.gov/covid-data-tracker/#demographicsThanks. I couldn't be arsed to look it up, but that data is more consistent to the ones I had. Nice you did check out the specific source Torque was referring to. I really don't understand this polarization between "we are all gonna die from covid" vs "it is completely irrelevant and people die just because they are old or ill". Manipulating the stats or simply spreading missinformation/fake data doesn't help either. There are many people whose position about this particular subject is in a much more healthy and reasonable middle point. |
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Coronavirus Cases: 27,202,829. Deaths: 885,764. Recovered: 19,288,016.
So by the time i guess it's safe to say that covid's lethality is higher than the flu's. According to the CDC's own website data for the U.S., 94% of Covid-19 deaths had comorbities with some other cause of death (e.g., flu, pneumonia, heart disease, heart attack, blunt force trama, cancer, etc.). Only 6% of related Covid-19 deaths were tagged as "Covid only" cause. Also, 99% of Covid-related deaths were over the age of 65. The majority were 70+. If you take out comorbidities then almost no one would "officially" die from an illness. Many/most people over 65 do have comorbidities in the strict sense. Most of the covid infected people that die do so because of an acute pneumonia, if you exclude that your stats are useless. Also, are you sure about 99% of covid related deaths were over the age of 65? Source? I do agree that the majority were over 70+ though. |
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Looks to me like the $1,000/btc and below price levels need more testing. I'm just telling ya'll the truth. I could see maybe bitcoin long term stable in the $200-$500 range after a lot of faffing about.
Cantfirmed. |
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^ Nice catch JJG. I didn't remember him either. Now I do.
Nothing more to add here. Go Bitcoin Go!
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Proudhon have been confirming scientifically proven sources since 2011. So yeah, he surely is too busy enjoying his wealth most of the time... except when he briefly passes by from to time to enlighten us with his OG wisdom. If he shorted Bitcoin with his beloved “high leverage” in 2011 (were there markets with margin then?), or even if he just sold all of his bitcoins at that time, then perhaps that may explain his apparent vendetta. Think about it...
I recall once having caught a link to some sad story on Reddit about a young fellow who shorted DASH with all the leverage he could obtain. He wound up throwing into margin calls all of his Bitcoin, and almost all of the fiat in his bank account. From about $150k in liquid assets that he had slowly saved, he very quickly wound up with $600 (six hundred dollars) to his name. He was contemplating suicide. DASH is more or less my definition of “overvalued shitcoin”—but shorts are very dangerous, and highly leveraged shorts all the moreso... If proudhon were simply bearish on Bitcoin, I would disagree; but it could be a reasonable disagreement. I am picking on him because he is advising a “high leverage” (!) short based on his alleged “scientific” certainty of the future.
A big short can be spectacular if, say, you have the combination of a rare opportunity, sufficient capital to move the market, and an exceedingly high risk tolerance. The infamous Soros short of the pound comes to mind. That was betting the company on a calculated risk, in a very unusual situation—and he did actually have enough capital to move the whole market. But for every such famous case, there are so many others who went bankrupt. Oftentimes, it has been the types who look on Internet forums for investment advice. “ Strongly short with high leverage”? “Confirmed science”? Seriously? Regardless of one’s expectations for Bitcoin, that is not only bad investment advice: It is sadistic investment advice.
AddendumWow. After I drafted the foregoing, I checked proudhon’s trust page. I wonder how many people have lost money over this. I hope that most people ignore him. While everything you said is strictly correct I do still enjoy the ocasional Proudhon post. That being said... don't take everything you read on the internet (or wherever) as serious advice. There is a chance it isn't. Always confirm your sauces (scientifically or not) And yeah, leveraged trading is extremely risky even if you know what you are doing (which most don't... even if some are lucky). Combined with shorting it is even more risky and most of the time a recipe for disaster and financial ruin. |
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~ How about you post the research paper on why Bitcoin can't go above 10k? Don't forget the sources. He’s too busy enjoying all the wealth that he has gained by the magic of “ strongly short with high leverage”. Proudhon have been confirming scientifically proven sources since 2011. So yeah, he surely is too busy enjoying his wealth most of the time... except when he briefly passes by from to time to enlighten us with his OG wisdom. Confirmed. I love that song: https://www.youtube.com/watch?v=A7TuFy0fcuw |
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Theymos' clarifications change absolutely nothing from my argument, the fact that the mods stopped caring about the off topic posts doesnt change the fact that the posts are off topic and low effort and are getting merited if they really just wanted to talk with each other they wouldnt care if merits were disabled on WO
Well, then make up your fucking mind and open a new thread for that. This one (per the OP) is about if the WO thread should be deleted or not. I say NO. |
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