BlindMayorBitcorn
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Activity: 1260
Merit: 1116
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January 12, 2015, 04:12:59 AM |
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There's no issue. Miners can't keep up with transactions and get backed up at times because the block size is too small. Miners just don't want to spend more to upgrade a little. It's all on the miners. Did you read that declaration of war? He compares Gavin to Trendon Shavers. Is this the lunatic fringe of Bitcoin?
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JorgeStolfi
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January 12, 2015, 04:35:43 AM |
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Is this the lunatic fringe of Bitcoin?
Yeah, Mircea Popescu seems to be determined to be the least likable person on the internet. But he is a precious resource, because although he is a "bitcoin magnate" (worth 200'000 BTC, IIRC) he seems to enjoy kicking the sacred cows of bitcoin.
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NotHatinJustTrollin
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Activity: 462
Merit: 107
★Bitvest.io★ Play Plinko or Invest!
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January 12, 2015, 04:39:06 AM |
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Is this the lunatic fringe of Bitcoin?
Yeah, Mircea Popescu seems to be determined to be the least likable person on the internet. But he is a precious resource, because although he is a "bitcoin magnate" (worth 200'000 BTC, IIRC) he seems to enjoy kicking the sacred cows of bitcoin. He is a greedy and megalomaniac sociopath, perfectly appropriate for the bitcoin environment.
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ChartBuddy
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Activity: 2338
Merit: 1802
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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January 12, 2015, 05:00:03 AM |
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Bitfinex Bitstamp Explanation
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Chef Ramsay
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Activity: 1568
Merit: 1001
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January 12, 2015, 05:01:26 AM |
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Price has gone up to $272.2 as we speak so China is buying some coinage. Let's keep this reasonable, domestic fiat hitting exchanges later on so short term bullish activity then down or what? We need to flesh this out once and for all to get the flip to bounce.
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cbeast
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Activity: 1736
Merit: 1014
Let's talk governance, lipstick, and pigs.
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January 12, 2015, 05:01:38 AM |
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There's no issue. Miners can't keep up with transactions and get backed up at times because the block size is too small. Miners just don't want to spend more to upgrade a little. It's all on the miners. Did you read that declaration of war? He compares Gavin to Trendon Shavers. Is this the lunatic fringe of Bitcoin? He's probably butthurt from IBM forking Ethereum or Overstock forking Counterparty. He's probably all forked out.
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JayJuanGee
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Activity: 3878
Merit: 11064
Self-Custody is a right. Say no to"Non-custodial"
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January 12, 2015, 05:53:59 AM |
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ChartBuddy
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Activity: 2338
Merit: 1802
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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January 12, 2015, 06:00:06 AM |
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Bitfinex Bitstamp Explanation
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cbeast
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Let's talk governance, lipstick, and pigs.
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January 12, 2015, 06:15:53 AM |
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Much ado about nothing. Such drama. IBM and Overstock proved that altcoins are worthless. A fork that changes one number is causing a brouhaha. A tempest in a teapot, I say. "Make every Greek know what happened here. You'll have a grand tale to tell. A tale of victory."
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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January 12, 2015, 07:00:06 AM |
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Bitfinex Bitstamp Explanation
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shmadz
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Activity: 1512
Merit: 1000
@theshmadz
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January 12, 2015, 07:02:47 AM |
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There's no issue. Miners can't keep up with transactions and get backed up at times because the block size is too small. Miners just don't want to spend more to upgrade a little. It's all on the miners. I thought it was the clients, or full nodes that are actually running the show here. The miners will support whatever chain they are incentivized to support. I still feel that this is an incomplete solution to the Byzantine Generals problem, relying heavily on properly aligning incentives to promote or ensure consensus. If the incentives start to diverge, the security and long term success of the project will be compromised. tl;dr - Price does matter.
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jl2012
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Merit: 1111
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January 12, 2015, 07:17:43 AM |
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Well ironically the winkelvoss ETF would be a derivative. Their company plans to purchase one BTC for every 5 shares in the etf owned. Unfortunately this is exactly what BTC needs right now to allow the gamblers a regulated environment for purchasing BTC with stupid amounts of money.
Except that the first 200'000 BTC or so will be purchased from the Winkles' personal holdings. Source? They are rumored to have 200'000 BTC. The SEC filing says that the initial offer will be 1 million shares each representing 0.2 BTC. So that's your pure speculation. As far as I know, they bought those bitcoin at 2 digits. If they wanted to sell, they could have sold anytime since late 2013 in the open market with sound profit. Why do they need to wait for SEC approval? Why do you think they (or anyone) would want to create a bitcoin ETF? Same question could be asked for any commodity ETF. One reason is to earn management fee. An ETF on NASDAQ will also significantly improve the liquidity of the bitcoin market and increase the value of their personal stash.
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Stevenirving
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January 12, 2015, 07:23:34 AM |
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Any word on when the ETF is likely to happen?
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BayAreaCoins
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Online
Activity: 3990
Merit: 1250
Owner at AltQuick.com
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January 12, 2015, 07:56:33 AM |
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Any word on when the ETF is likely to happen?
I think the Beanie Baby ETF might be scheduled a month prior to the Bitcoin one
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Morecoin Freeman
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January 12, 2015, 07:58:02 AM |
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Think we will see the price above $280 again today.
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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January 12, 2015, 08:00:06 AM |
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Bitfinex Bitstamp Explanation
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Searing
Copper Member
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Clueless!
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January 12, 2015, 08:00:12 AM |
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Any word on when the ETF is likely to happen?
imho it won't happen the agency involved in deciding such will do what all do in politics these days 'kick the can down the road" stating imho "that not enough legislative oversight on the question" exists a this time for the fund to go live just saying imho likely that nothing will be decided either pro or con on crypto or the ETF fund......would not want to be a bureucrat making the wrong choice in case the powers that be (BIG MONEY) at the very least 'implies' their views on crypto and/or BTC part of bureucrat 101: How to keep you job..take as little risk as possible and don't piss off either party or big money hope I'm wrong but it has dragged on too long imho .the choice they will make is 'no choice' they will find and excuse to stall this ETF but not again imho 'kill it' maybe we will see something in 2018 again hope I'm wrong
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adaseb
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Activity: 3878
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January 12, 2015, 08:38:28 AM |
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Any word on when the ETF is likely to happen?
I think it was in the works but with the recent action, probably wont happen. The ETF would have to buy the BTC and no ETF will want to buy something that will for sure lose value.
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cbeast
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Activity: 1736
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Let's talk governance, lipstick, and pigs.
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January 12, 2015, 08:51:52 AM |
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Eventually people will realize that government regulations don't protect investors anyway. There will be no point in following or enforcing laws that are senseless. Law books are full of unenforceable statutes. Global jurisdictions will permit opportunities to flourish through self regulating decentralized markets. The ETF may not bother waiting for regulations. NYC can be the next Rome and nothing but a tourist destination.
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macsga
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Activity: 1484
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Strange, yet attractive.
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January 12, 2015, 08:54:20 AM |
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ETF has to go a bold step forward to function. That is called "proper and clear rules". In the meantime, several other issues are not resolved which (IMHO) are far more important: 1. MtGox case (stinks from top to bottom) 2. ATM distribution 3. Exchange legislation and transparency (every transaction should be on the ledger) Until then, this place is going to be a bear-fest and troll party. Enjoy it while it lasts.
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