600watt (OP)
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February 04, 2016, 08:54:11 AM |
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$55 mio pumped directly to some core devs. the very heart of bitcoin. is this good for the price of bitcoin?
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8up
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February 04, 2016, 10:49:05 AM |
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$55 mio pumped directly to some core devs. the very heart of bitcoin. is this good for the price of bitcoin?
price tells you it's neutral. |
Always wrong until not.
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600watt (OP)
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February 04, 2016, 10:57:34 AM |
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$55 mio pumped directly to some core devs. the very heart of bitcoin. is this good for the price of bitcoin?
price tells you it's neutral. 55 mio is a lot of lube. i think i like it. this is going towards bitcoin blockchain and not to private blockchains/altcoin. this is definitely not the "blockchain is good/bitcoin is bad" gospel we have been hearing a lot lately. |
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1Referee
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February 04, 2016, 11:04:31 AM |
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$55 mio pumped directly to some core devs. the very heart of bitcoin. is this good for the price of bitcoin?
I have been reading the article from coindesk about this $55 million investment, but I can't find anything about that the money is going to core devs....?? http://www.coindesk.com/blockstream-55-million-series-a/ |
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Loimu
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February 04, 2016, 11:22:21 AM |
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$55 mio pumped directly to some core devs. the very heart of bitcoin. is this good for the price of bitcoin?
I have been reading the article from coindesk about this $55 million investment, but I can't find anything about that the money is going to core devs....?? http://www.coindesk.com/blockstream-55-million-series-a/It's blockstream. Those guys work on Core. |
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XCASH
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February 04, 2016, 11:28:14 AM |
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$55 mio pumped directly to some core devs. the very heart of bitcoin. is this good for the price of bitcoin?
I have been reading the article from coindesk about this $55 million investment, but I can't find anything about that the money is going to core devs....?? http://www.coindesk.com/blockstream-55-million-series-a/The article says the money is going to Blockstream. Blockstream has raised $55m in Series A funding to continue its work expanding the bitcoin code base for commercial use. Blockstream was co-founded by the Bitcoin core developer Gregory Maxwell and Dr Adam Back who invented hashcash, which is the the proof-of-work system used in bitcoin. They want to fork Bitcoin to support their sidechains technology. |
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600watt (OP)
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February 04, 2016, 11:38:35 AM |
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$55 mio pumped directly to some core devs. the very heart of bitcoin. is this good for the price of bitcoin?
I have been reading the article from coindesk about this $55 million investment, but I can't find anything about that the money is going to core devs....?? http://www.coindesk.com/blockstream-55-million-series-a/The article says the money is going to Blockstream. Blockstream has raised $55m in Series A funding to continue its work expanding the bitcoin code base for commercial use. Blockstream was co-founded by the Bitcoin core developer Gregory Maxwell and Dr Adam Back who invented hashcash, which is the the proof-of-work system used in bitcoin. They want to fork Bitcoin to support their sidechains technology. i understood core were the "no-hard-fork" guys... |
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Amph
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February 04, 2016, 11:48:22 AM |
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$55 mio pumped directly to some core devs. the very heart of bitcoin. is this good for the price of bitcoin?
price tells you it's neutral. 55 mio is a lot of lube. i think i like it. this is going towards bitcoin blockchain and not to private blockchains/altcoin. this is definitely not the "blockchain is good/bitcoin is bad" gospel we have been hearing a lot lately. 135k bitcoin, yes it is alot, but if you look at it by the market cap point of view, it's not really that much if the demand is not there that is willing to buy at a bigger value, the market will remain unchanged |
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Denker
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February 04, 2016, 12:32:49 PM |
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$55 mio pumped directly to some core devs. the very heart of bitcoin. is this good for the price of bitcoin?
Forget about the price.At least for the short term. This is good for further development of the Bitcoin network. And only that is what counts imo. I like what one reddit user wrote.I think that pretty much sums it up.
It's unclear exactly what Blockstream's business plan is supposed to be; however, we can infer that it involves private blockchains and consultations on blockchain technology. R3 (Hearn's employer) is also working on private blockchains, so Blockstream must be evil, right?
The difference is that Blockstream's solution can tie these private blockchains directly to Bitcoin via 2‑way pegs; this makes BTC an extremely valuable common medium of exchange amongst all the private systems that wish to be so connected—in fact, it's better than that; because of the guiding principles of robust decentralization above all else, it serves as a refuge to store value when there's doubt in the rest of the system.
Blockstream's solution makes Bitcoin the backbone of an Internet of Money.
The transactions of the world are not uniform in their requirements; there are various profiles of risk and cost and speed and payload—and any other property you can think of! Indeed, there is more trust in the world than Bitcoin assumes, and that trust can be used by some profiles in order to benefit everyone.
No single system can simultaneously cater to all profiles.
The profile that Bitcoin was designed to serve entails decentralized, trustless processing of "small casual transactions"—and of these properties, decentralization is paramount; after all, you can construct an inexpensive high-volume transaction system on top of a decentralized core system of nearly any sort, but you cannot construct a decentralized system on top of a centralized core system of any sort.
The Core of the ecosystem needs to be correct.
Above all else, the Core of the Bitcoin ecosystem must provide decentralized, trustless processing of transactions; once that goal has been met, an overlay network (like the Lightning Network) can be used to construct Bitcoin transactions in a way that is smarter than simply using Bitcoin directly. Furthermore, Bitcoin's token, BTC, can be pegged to the tokens of other systems that cater to all manner of different profiles.
In this way, every possible profile can be serviced and yet tied together with a common token, BTC; when there is doubt in the ecosystem, users can retreat to the safety of the cold, heartless, trustlesss core that is Bitcoin.
This makes Bitcoin the Core of an Internet of Money.
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8up
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February 04, 2016, 12:44:53 PM |
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$55 mio pumped directly to some core devs. the very heart of bitcoin. is this good for the price of bitcoin?
I have been reading the article from coindesk about this $55 million investment, but I can't find anything about that the money is going to core devs....?? http://www.coindesk.com/blockstream-55-million-series-a/The article says the money is going to Blockstream. Blockstream has raised $55m in Series A funding to continue its work expanding the bitcoin code base for commercial use. Blockstream was co-founded by the Bitcoin core developer Gregory Maxwell and Dr Adam Back who invented hashcash, which is the the proof-of-work system used in bitcoin. They want to fork Bitcoin to support their sidechains technology. i understood core were the "no-hard-fork" guys... they propose an economic hard-fork (aka economic change event by jeff garzik: http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-December/011973.html) |
Always wrong until not.
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Bitcoiner2015
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February 04, 2016, 02:10:13 PM |
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$55 mio pumped directly to some core devs. the very heart of bitcoin. is this good for the price of bitcoin?
I have been reading the article from coindesk about this $55 million investment, but I can't find anything about that the money is going to core devs....?? http://www.coindesk.com/blockstream-55-million-series-a/The article says the money is going to Blockstream. Blockstream has raised $55m in Series A funding to continue its work expanding the bitcoin code base for commercial use. Blockstream was co-founded by the Bitcoin core developer Gregory Maxwell and Dr Adam Back who invented hashcash, which is the the proof-of-work system used in bitcoin. They want to fork Bitcoin to support their sidechains technology. i understood core were the "no-hard-fork" guys... they propose an economic hard-fork (aka economic change event by jeff garzik: http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-December/011973.html) It seems to me like they are setting up an environment where other companies can get involved in the future. The $55 million itself is good, but the potential for a LOT more is more importnant |
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abs350
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February 04, 2016, 02:15:04 PM |
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Who cares guys?  Fork or no hard fork??? Look at the internet. Sure ipv6 is around but mainly people use ipv4. Ask Tim Draper. This market is freakin stupid. When price goes down any freakin reason to dump. |
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randy8777
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February 04, 2016, 02:31:49 PM |
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Who cares guys? Fork or no hard fork??? Look at the internet. Sure ipv6 is around but mainly people use ipv4. Ask Tim Draper. This market is freakin stupid. When price goes down any freakin reason to dump. it shows that there is much interest in the bitcoin protocol. also, the price just showed a tiny $12 spike to around $388 on bitfinex. not sure if it has anything to do with the funding, but it's certainly possible. |
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8up
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February 04, 2016, 02:35:19 PM |
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$55 mio pumped directly to some core devs. the very heart of bitcoin. is this good for the price of bitcoin?
I have been reading the article from coindesk about this $55 million investment, but I can't find anything about that the money is going to core devs....?? http://www.coindesk.com/blockstream-55-million-series-a/The article says the money is going to Blockstream. Blockstream has raised $55m in Series A funding to continue its work expanding the bitcoin code base for commercial use. Blockstream was co-founded by the Bitcoin core developer Gregory Maxwell and Dr Adam Back who invented hashcash, which is the the proof-of-work system used in bitcoin. They want to fork Bitcoin to support their sidechains technology. i understood core were the "no-hard-fork" guys... they propose an economic hard-fork (aka economic change event by jeff garzik: http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-December/011973.html) It seems to me like they are setting up an environment where other companies can get involved in the future. The $55 million itself is good, but the potential for a LOT more is more importnant People spend to much energy on the idea of forking or not forking. In the end it doesn't really matter. |
Always wrong until not.
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Denker
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February 04, 2016, 02:38:50 PM |
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Who cares guys? Fork or no hard fork??? Look at the internet. Sure ipv6 is around but mainly people use ipv4. Ask Tim Draper. This market is freakin stupid. When price goes down any freakin reason to dump. it shows that there is much interest in the bitcoin protocol. also, the price just showed a tiny $12 spike to around $388 on bitfinex. not sure if it has anything to do with the funding, but it's certainly possible. Now where I read that I'm a bit surprised. Just one hour ago then price was around 373. Someone bought a nice chunk of bitcoins and therefore price pumped up. But I think some traders will try use that opportunity to sell for a profit and buy back in when price is down again to 370s area.Let's see how it will play out.  |
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Alley
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February 04, 2016, 02:52:58 PM |
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If we want to ever move from 1mb blocks we have to fork no matter what client we run. Core wants to soft fork.
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Xetamin
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February 26, 2016, 11:02:06 AM |
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$55 mio pumped directly to some core devs. the very heart of bitcoin. is this good for the price of bitcoin?
I have been reading the article from coindesk about this $55 million investment, but I can't find anything about that the money is going to core devs....?? http://www.coindesk.com/blockstream-55-million-series-a/It's blockstream. Those guys work on Core. So I think it is bad for bitcoin. That means blockstream has more control over Core and thus bitcoin. |
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Denker
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February 26, 2016, 12:05:28 PM |
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$55 mio pumped directly to some core devs. the very heart of bitcoin. is this good for the price of bitcoin?
I have been reading the article from coindesk about this $55 million investment, but I can't find anything about that the money is going to core devs....?? http://www.coindesk.com/blockstream-55-million-series-a/It's blockstream. Those guys work on Core. So I think it is bad for bitcoin. That means blockstream has more control over Core and thus bitcoin. That is not true! Blockstream is not having any control over Bitcoin. Just a very small group of core devs is hired by Blockstream.Furthermore only one of those devs is having commit access. And last but not least Blockstream employees signed a pledge indicating that their primary allegiance is to Bitcoin before themselves or Blockstream! |
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