Do you think "iamnotback" really has the" Bitcoin killer"?

[Perryl]

If I couldn't convert my BTC to FIAT that would not affect my ability to pay for my electricity, or much of anything else. I can pay for pretty much anything in BTC so I don't really see why you think this. As it is, I convert my BTC to goods, not FIAT.

That said, I'm interested and will be looking for your whitepaper and mining it or whatever. I am of the opinion that Bitcoin will eventually be dethroned by a currency that is yet to be developed.

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[iamnotback]

If I couldn't convert my BTC to FIAT that would not affect my ability to pay for my electricity, or much of anything else. I can pay for pretty much anything in BTC so I don't really see why you think this. As it is, I convert my BTC to goods, not FIAT.

You don't seem to understand that the transaction fees will rise to $600,000 per transaction when 1 BTC costs $500k. Study the math I showed else where on that.

[PacificNomad]

Sell all crypto-currency to fiat IMMEDIATELY. BTC will dive -30%. Altcoins will decline even more. SegWit and scaling has been defeated on both Bitcoin and (at least near-term) also Litecoin. Also there are macroeconomics things going on which will also hit gold and every asset except USD. Store your money in USD or altcoin USDT (dollar peg) temporarily until this dip has concluded

I posted about this the other day.  Wondering what people's opinions are on the value of cryptocurrency during geopolitical issues (ie war, financial markets crash etc).  It is an interesting subject... it seems you're of the opinion crypto will crash heavily.  That is one possibility, but it also could potentially be unaffected due to the decentralized nature and perhaps even grow as people look for alternatives to store their money in times of crisis?  Just a thought... I'm a glass half full kind of guy :-)

Either way, it's a good topic for people to get involved with as an overall market drop would be a bummer for everyone!

[iamnotback]

Sell all crypto-currency to fiat IMMEDIATELY. BTC will dive -30%. Altcoins will decline even more. SegWit and scaling has been defeated on both Bitcoin and (at least near-term) also Litecoin. Also there are macroeconomics things going on which will also hit gold and every asset except USD. Store your money in USD or altcoin USDT (dollar peg) temporarily until this dip has concluded

I posted about this the other day.  Wondering what people's opinions are on the value of cryptocurrency during geopolitical issues (ie war, financial markets crash etc).  It is an interesting subject... it seems you're of the opinion crypto will crash heavily.  That is one possibility, but it also could potentially be unaffected due to the decentralized nature and perhaps even grow as people look for alternatives to store their money in times of crisis?  Just a thought... I'm a glass half full kind of guy :-)

Either way, it's a good topic for people to get involved with as an overall market drop would be a bummer for everyone!

Crypto is not long-term affected by geopolitical noise.

The crypto market is undergoing a painful Scalepocalypse metamorphosis as n00bs come to understand their idol Satoshi was an evil motherfucking genius.

So this cognitive dissonance is causing them to rail against Bitcoin (USAF nonsense, etc), and so they will be served up some event which steals their tokens to silence them so Bitcoin can move forward without the deadweight.

[iamnotback]

From my deep study of the range of plausible designs for a blockchain consensus system (and I studied much deeper than in than what is contained in that linked thread), I conclude that it is impossible to have a fungible token on a blockchain in which the consensus doesn't become centralized iff the presumption is that the users of the system gain the most value from the system due to its monetary function.

However, I was able to outsmart the global elite, because I realized that if the users of the system gained more value from the system for its non-monetary function and iff that value can't be financed (i.e. its value can be leeched off by control of fungible money), and if I provided a way for the users to provide the Byzantine fault DETECTION as a check-and-balance against the power of the whales and if I provided this in a way that is not democracy and is a crab bucket mentality Nash equilibrium, then I would have defeated the problems with the concept of fungible money.

The elite simply weren't aware of these concepts, because I invented them. Nash didn't know this.

And that is what I intend to launch with BitNet.

Quoting, because this post is too valuable  

More on that...

You could just remove the reward, any one can mine new block out of the mem pool, if two blocks or tx are in common, a determinstic algorithm could be used to select between the two.

I agree with you.  The error in most crypto is the reward, which gives rise to strategies that do not necessarily induce the desired properties.  I also think that the only viable kind of crypto currency is where the validation/consensus decision is taken on a voluntary basis, the "reward" being that the system in which you are invested, keeps running correctly.

However, you still need a kind of deterministic decision *that is hard to game* (because you can do "proof of work" like calculations to get the deterministic solution in your advantage).  This is why a kind of PoS signature scheme is necessary in my opinion.

@dinofelis, how many times do I have to repeat to you that voting is not free.

Ethereum's Casper shit is more of the same proof-of-stake (nothing-at-stake or centralization by economic weight, e.g. DPoS) nonsense. The betting stuff enables what Vitalik refers to as "dark uncles" or "dunkles", which Vitalik incorrectly thinks will solve the nothing-at-stake problem. Also Casper has the problem that all deterministic finality PoS and Byzatine agreement systems have, which is a 33% liveness threshold which if that many validators balk or stop processing, then the chain can't move forward without a hard fork.

The only way to replace PoW is with an Inverse Commons consensus protocol, which is my new invention.

And all together your comment also show that you dont see my perpective, and why the thing you point doesnt matter, and what I meant with checkpoint is that you would only need real pow consencus on this checkpoint to "harden" The chain if you want to enforce a particular order on the tx/block, but that would just be about one packet saying this block height is this block hash, and having a pow once in a while on this checkpoint instead of every block.

I invented that already in collaboration with @jl777 for Komodo in 2016. It is named dPoW (delayed proof-of-work).

CounterParty does something somewhat analogous as well.

And really it isn't a secure and sound solution, but more of a gimick. Because the local consensus still have to decide what to submit for checkpoints because the PoW system isn't validating every thing and can't resolve conflicting double-spending orderings that occurred between checkpoints.

Re: How do you stop someone forcing you to hand over your private key and taking all

If they know for sure that you have a lot of Bitcoins and are willing to torture you to get them, you are pretty much screwed.

This kind of thing happens to bank managers/rich people where they are forced to withdraw money from banks etc, it's called tiger kidnapping.

If you're worried about something like this happening. Step up your personal security. Get a gun etc.

The government has more guns than you do...

no, you will not be tortured if you own BTC

Will you guarantee that no one will be imprisoned/tortured for "financial crimes"¹ if they fail to comply with government orders to turn over their private keys?

I want you to make an asshat for yourself so we can enshrine your post later when it is proven that you were incorrect.

¹ Read more about this here.

I am like so Lolz when I read the below and remember how I (as @AnonyMint) was telling everyone that Tor was compromised back in 2013 and everyone thought I was a kook.

Re: Trezor security

Regarding the privacy I believe that unless there is a way to detach/decouple the physical world with the cripto world there is no way to protect you against being tracked on block chain.
in the end of the day if you spend your bitcoin you connect yourself with somebody else. Tumblers/Mixers do not help. TOR has been hacked by the NSA so what for.
There are ATMs but as long as I can see they have all sort of tracking for your real Identity (even finger tips) which in my opinion is completely insane.

[alkan]

The betting stuff enables what Vitalik refers to as "dark uncles" or "dunkles", which Vitalik incorrectly thinks will solve the nothing-at-stake problem.

What makes you think that dunkle inclusion/slashing conditions won't solve NaS?

Also Casper has the problem that all deterministic finality PoS and Byzatine agreement systems have, which is a 33% liveness threshold which if that many validators balk or stop processing, then the chain can't move forward without a hard fork.

I agree with this.

The only way to replace PoW is with an Inverse Commons consensus protocol, which is my new invention.

I'm looking forward to hear more about this and the incentive structure of your protocol.

[thejaytiesto]

So get this:

https://coinmarketcap.com/currencies/bitconnect/

Another "bit-something" coin goes to the moon.

3 months at less than a dollar. Current price: $10.75, sustained for a couple of days, coming from a $17 peak. Good volume so no shitty pump and dump with no volume (900+ BTC in 24 hours, so that should be enough to cash out a decent amount of BTC over the course of a couple days so you don't crash the market)

By looking at the website of this:

https://bitconnectcoin.co/

Same font as bitcoin's font, same orange logo style. Im trying to find out what's the punchline with this one. Looks like a regular PoW/PoS coin.

What I find interesting is that they integrated an exchange within the site so they don't have to wait for any exchange, and claim the exchange is decentralized which I doubt.

Anyway this is just ridiculous. I don't see anything remarkable about this coin, just another coin. People seem to love bit-something coins, specially if they can sit back and relax as they stake more coins.
If this thing can get to $10 with decent volume, then bitnet must be able to do it too. We need to get rich, the situation is intolerable. All those lame coins making people rich, it's just nuts.

[iamnotback]

 Apparently LTC will likely be a hedge against the coming BTC decline. Go long LTC (Litecoin) now.

https://bitcointalk.org/index.php?topic=1663070.msg18614017#msg18614017

(I deleted this post temporary at 11:40 because so many of you jumped on it buying LTC that you caused a significant price rise and volume, thus were interfering with me covering my short and taking a long position. I am re-posting now that I completed my trade)


How do you like my perfect timing on LTC yet again! That is twice that I said emphatically

[stereotype]

My self-delusion meter, just broke!

Whats the online etiquette, when addressing troubled minds? 

[BorisTheBulletDodger]

so did he prove that you can indeed time-travel?

[Geraldo]

I guess he is back in his cave.. hiding.

[york780]

I guess he is back in his cave.. hiding.

No they banned him from bitcointalk because of his scam talk. He got a perma bann

[IadixDev]

Someone know how to contact him ?

[jbreher]

No they banned him from bitcointalk because of his scam talk. He got a perma bann

I hope that's merely an unfounded rumor. Citation?

[vapourminer]

they ban shelby but let idiots post crap all over the forum for sig campaigns?

i can guess the ban reason but would like to see the official version.

agree with him or not at least his posts were usually interesting.

[TroySmith]

they ban shelby but let idiots post crap all over the forum for sig campaigns?

i can guess the ban reason but would like to see the official version.

agree with him or not at least his posts were usually interesting.

I wouldn't assume the guy is banned for no reason. Maybe he decided to get on with his project as his health got better.

But who knows, the other end of the spectrum is he died, he did have some serious health problems...the flesh is weak.


EDIT: Though I think he actually probably is banned, reason is the signature he put on his profile that linked to his past address that were banned. I think its disgusting if he has been banned as he was the most intelligent guy on here. Maybe the site sees his ideas as a threat to Bitcoin even?

[zanzibar]

agree with him or not at least his posts were usually interesting.

That's too bad if true. I liked reading his posts as well.

[onemanatatime]

It's already kinda past "early 2017".. what is the "Bitcoin killer" that iamnotback is talking about?

Would love to see something that is ready to take down the system; or at least bypass the system we are locked in, and give freedom to the people.

[adolf512]

It's already kinda past "early 2017".. what is the "Bitcoin killer" that iamnotback is talking about?

I do not think we will se a single genius deliver a bitcoin killer, instead we will see gradial improvement such as btc ⇨ XMR ⇨ zcash (anonymity improvement).

[IadixDev]

He created another accnt, "BitNet official ", but all the posts & threads by him are gone :p