Rally!!!!!

[ssmc2]

Love the thread Elux. Just curious what your thoughts are on the meaning of Larry Summer's quote from the 21 blog post:

“The 21 chip adds a whole new dimension to bitcoin’s potential utility. At first we will be struck by the presence of a technology like embedded mining; eventually we may be struck by its absence.”

[elux]

May 26, 2015 8:08 am | Nasdaq to step up blockchain trials

Nasdaq, the US exchanges operator, this year plans to increase the number of trials with the decentralised network that underpins bitcoin. The New York group expects to debut three or four trials of the ledger in trade processing in the next 12 months, in a move that Bob Greifeld, the group’s chief executive, hopes could radically reshape some of the US’s sometimes cumbersome and slow-moving market plumbing.

...

Blythe Masters, the former JPMorgan banker who helped develop the idea behind credit default swaps, has joined a group of trading executives setting up a venue that will convert buyers and sellers of financial assets into bitcoins, thus cutting settlement times.

Source: http://www.ft.com/intl/cms/s/0/81b6145c-0309-11e5-b31d-00144feabdc0.html

Full text: https://www.reddit.com/r/Bitcoin/comments/37az7o/nasdaq_to_step_up_blockchain_trials/crl6f4i

uhh...

...convert buyers and sellers of financial assets into bitcoins...

PEOPLE WILL BE TURNED INTO BITCOINS  

SOYLENT BITCOINS

This will introduce new efficiencies! RALLY!

[Brewins]

https://twitter.com/jgarzik/status/601447310535458816

RALLY?

block size will be increased, but no idea when and what details

rally

[elux]

Visa Founder, former Citibank Chairman, and former Secretary of the Treasury join Xapo as Advisors

Dee Hock is the founder of Visa, and is responsible for effectively creating payment systems as we know them today. “Bitcoin represents not only the future of payments but also the future of governance,” Mr. Hock said. “We live in the 21st century but are still using command and control organizational structures from the 16th century. Bitcoin is one of the best examples of how a decentralized, peer-to-peer organization can solve problems that these dated organizations cannot. Like the Internet, Bitcoin is not owned or controlled by any one entity, so it presents incredible opportunities for new levels of efficiency and transparency in financial transactions.”

John Reed was formerly the Chairman & CEO of Citibank, and was responsible for growing Citibank into the world’s first truly global financial franchise. Under Mr. Reed’s leadership Citibank developed the modern ATM and helped redefine the modern retail banking experience. “Financial services have remained largely untouched by the digital revolution,” says Mr. Reed. “Bitcoin represents a real opportunity for changing that. Money at its core is simply a ledger for keeping track of debts and Bitcoin is truly the best iteration of a universal ledger we’ve ever seen. The mere fact that there will never be more than 21 million bitcoins and that each bitcoin can be divided into 100 million units makes it a significant improvement on any historical form of currency.”

Lawrence H. Summers was the Secretary of the Treasury under President Bill Clinton, and continues to be one of the leading economic and policy thinkers of our time. “Until now whenever we’ve needed to transfer money we’ve had to rely on a third party, whether it be a bank, a clearing house or a payment network. Bitcoin offers, for the first time, a method for transferring value and making payments from anywhere to anywhere, in real-time, without any intermediary. This could mean we soon see many billions of people sending bitcoin everyday as easily as they currently send a text message.”

RALLY!!!!!!

[elux]

block size will be increased, but no idea when and what details

If we knew that, exactly, price would be at like $20000 already.

Investors and institutions are heavily discounting future price based on the "7tps limit".

Bitcoin isn't ready for mainstream until that goes. But it's getting ready.

OP, it's been almost Two Weeks^TM... Soon^TM?

Actually, not sure if it's going to be soon. No "Two weeks" guarantee implied.

It will seem like a long time if you sit and stare at the price.

This is a great time to be investing, less good for trading.

[Paashaas]

Visa Founder, former Citibank Chairman, and former Secretary of the Treasury join Xapo as Advisors

Dee Hock is the founder of Visa, and is responsible for effectively creating payment systems as we know them today. “Bitcoin represents not only the future of payments but also the future of governance,” Mr. Hock said. “We live in the 21st century but are still using command and control organizational structures from the 16th century. Bitcoin is one of the best examples of how a decentralized, peer-to-peer organization can solve problems that these dated organizations cannot. Like the Internet, Bitcoin is not owned or controlled by any one entity, so it presents incredible opportunities for new levels of efficiency and transparency in financial transactions.”

John Reed was formerly the Chairman & CEO of Citibank, and was responsible for growing Citibank into the world’s first truly global financial franchise. Under Mr. Reed’s leadership Citibank developed the modern ATM and helped redefine the modern retail banking experience. “Financial services have remained largely untouched by the digital revolution,” says Mr. Reed. “Bitcoin represents a real opportunity for changing that. Money at its core is simply a ledger for keeping track of debts and Bitcoin is truly the best iteration of a universal ledger we’ve ever seen. The mere fact that there will never be more than 21 million bitcoins and that each bitcoin can be divided into 100 million units makes it a significant improvement on any historical form of currency.”

Lawrence H. Summers was the Secretary of the Treasury under President Bill Clinton, and continues to be one of the leading economic and policy thinkers of our time. “Until now whenever we’ve needed to transfer money we’ve had to rely on a third party, whether it be a bank, a clearing house or a payment network. Bitcoin offers, for the first time, a method for transferring value and making payments from anywhere to anywhere, in real-time, without any intermediary. This could mean we soon see many billions of people sending bitcoin everyday as easily as they currently send a text message.”

RALLY!!!!!!

Nice find +1

[Erdogan]

If someone thinks the 7 tps limit will be lifted, why wait until the fact? By the way, I have never thought that 7 tps were final. Why should it be? The point is sound money. It has been clear from the beginning.

[Fakhoury]

If someone thinks the 7 tps limit will be lifted, why wait until the fact? By the way, I have never thought that 7 tps were final. Why should it be? The point is sound money. It has been clear from the beginning.

The issue now is when and how.

[mrhelpful]

https://twitter.com/jgarzik/status/601447310535458816

RALLY?

block size will be increased, but no idea when and what details

rally

Yeah maybe in like 5 years.

I would understand if this was based on each transaction, but we are no where near this problem.

1024 kb for 1 mb, and I see transactions at 300 kb

[Erdogan]

If someone thinks the 7 tps limit will be lifted, why wait until the fact? By the way, I have never thought that 7 tps were final. Why should it be? The point is sound money. It has been clear from the beginning.

The issue now is when and how.

I know, but if it is "too late", in my mind that is just an interesting experiment in how the fee market will react. Of course it could slow down the whole adaption, which is bad, but it can't stop the project, nor can it open a window for competition.

[mrhelpful]

If someone thinks the 7 tps limit will be lifted, why wait until the fact? By the way, I have never thought that 7 tps were final. Why should it be? The point is sound money. It has been clear from the beginning.

The issue now is when and how.

I know, but if it is "too late", in my mind that is just an interesting experiment in how the fee market will react. Of course it could slow down the whole adaption, which is bad, but it can't stop the project, nor can it open a window for competition.

Okay, so lets say we go with this model. With the fee market based on transactions spent, whats consider a fair fee then?

I dont believe the fee market concept will work.

[Erdogan]

If someone thinks the 7 tps limit will be lifted, why wait until the fact? By the way, I have never thought that 7 tps were final. Why should it be? The point is sound money. It has been clear from the beginning.

The issue now is when and how.

I know, but if it is "too late", in my mind that is just an interesting experiment in how the fee market will react. Of course it could slow down the whole adaption, which is bad, but it can't stop the project, nor can it open a window for competition.

Okay, so lets say we go with this model. With the fee market based on transactions spent, whats consider a fair fee then?

I dont believe the fee market concept will work.

Maybe not, at least not in the beginning (the market is people, so it depends on what they know and what they learn when it happens). As people have pointed out, it could be tragic at first. The trouble is that there will always be a limit in practice, so graceful degradation is necessary. When the 1 MB limit is extended, work is still needed to make sure that there is no chaos next time. You can not just extend the limit forever.

[bitcoin revo]

So many #bitcoin startups are sprouting all over the place and it is going more and more mainstream day by day. It will only get better and better over the coming year. I see this coming year as being the tipping point for Bitcoin Prices to surge.

[techgeek]

So many #bitcoin startups are sprouting all over the place and it is going more and more mainstream day by day. It will only get better and better over the coming year. I see this coming year as being the tipping point for Bitcoin Prices to surge.

Yeah, but despite the growth, its all about them actually sticking around.

Look at a fine case with BFL, that supposedly was a good company in the 1st year, then now went all bad.

[elux]

Look at a fine case with BFL, that supposedly was a good company in the 1st year, then now went all bad.

AHAHAROFLMAO!

https://bitcointalk.org/index.php?topic=110805.0

[Braino]

RALLY!!!!!!

[Amph]

this is turning like HODL? isn't it? meme that aims to encourage the support of bitcoin are always welcome

[elux]

this is turning like HODL? isn't it? meme that aims to encourage the support of bitcoin are always welcome

http://www.rathergood.com/moon_song

[bobc1994]

The price will likely go up and down and the same over and over again. The next investor rush will happen and the price will eventually rise even higher than before as Bitcoin gains more acceptance.

[jt byte]

The price will likely go up and down and the same over and over again. The next investor rush will happen and the price will eventually rise even higher than before as Bitcoin gains more acceptance.

I think this is the most likely scenario. I don't think it will just crash and burn or that it would go to the moon overnight. Steady climb with some bumps is what I expect