Karartma1
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Activity: 2310
Merit: 1422
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February 17, 2017, 06:05:09 PM |
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IMHO the real question after all the PBOC/China drama how many "real" coins are on those exchanges? The timing can't be better: 1. First fake volumes (no idea how many coins they handled) 2. Fees got introduced (volume drop by 90%) 3. Withdrawal stops (sorry guys we have been faking our books but we can't fake the blockchain, we don't really have your coins) 4. Use your imagination
i get it know! PBoC wants the exchanges to pump the price! the exchanges went steaming ahead with no real bitcoins. PBoC caught them with their hands in the (empty) cookie jar. now they have 4 weeks time to actually GET THOSE coins, which means they need to buy them on exchanges. that is why we see the buying pressure all around the globe. on top of that they try to buy on their own exchanges, but of course they try to buy with a discount in their own shops... moon ahead! /tinfoil hat off I’m afraid you got that right. I'm not sure whether or not is the PBOC which wants the pump but that's it. If that's the case I would not be surprised to see new Mt.Goxes
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Ted E. Bare
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February 17, 2017, 06:13:39 PM |
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What happened with r0ach? Wasn't he very bullish on bitcoin last year?
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willope
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February 17, 2017, 06:16:38 PM |
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IMHO the real question after all the PBOC/China drama how many "real" coins are on those exchanges? The timing can't be better: 1. First fake volumes (no idea how many coins they handled) 2. Fees got introduced (volume drop by 90%) 3. Withdrawal stops (sorry guys we have been faking our books but we can't fake the blockchain, we don't really have your coins) 4. Use your imagination
i get it know! PBoC wants the exchanges to pump the price! the exchanges went steaming ahead with no real bitcoins. PBoC caught them with their hands in the (empty) cookie jar. now they have 4 weeks time to actually GET THOSE coins, which means they need to buy them on exchanges. that is why we see the buying pressure all around the globe. on top of that they try to buy on their own exchanges, but of course they try to buy with a discount in their own shops... moon ahead! /tinfoil hat off I’m afraid you got that right. I'm not sure whether or not is the PBOC which wants the pump but that's it. If that's the case I would not be surprised to see new Mt.Goxes It seems they were (are) working with fractional reserve. Now all of those fake bitcoins went back to where they belong: they doesn't exist. If there are only real bitcoins on the market, having the same demand price has to go up. And if they are really buying even better. I have just one concern. What if huobi and okcoin have more fake bitcoins than the total amount of real offer in the market?
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gentlemand
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Activity: 2590
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Welt Am Draht
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February 17, 2017, 06:18:35 PM |
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What happened with r0ach? Wasn't he very bullish on bitcoin last year?
He got kicked out of his synagogue for inappropriate behaviour. He hasn't taken it well.
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Gillette
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February 17, 2017, 06:21:58 PM |
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What happened with r0ach? Wasn't he very bullish on bitcoin last year?
He`s a bastard Russian racist. He is fudding BTC for months now.
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Ted E. Bare
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February 17, 2017, 06:28:57 PM |
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Haha, makes sense. Thanks guys!
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machasm
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February 17, 2017, 06:33:02 PM |
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What happened with r0ach? Wasn't he very bullish on bitcoin last year?
He got kicked out of his synagogue for inappropriate behaviour. He hasn't taken it well. I laughed out loud on that one!
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Chef Ramsay
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Merit: 1001
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February 17, 2017, 07:05:36 PM |
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What happened with r0ach? Wasn't he very bullish on bitcoin last year?
He got kicked out of his synagogue for inappropriate behaviour. He hasn't taken it well. I laughed out loud on that one! He obviously sold all of his coins and went all in on silver expecting it to moon after Trump started his trade/currency wars with China. I have my fair share of silver but my sentiment for Bitcoin is way higher. Silver is merely for bartering if the shtf.
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r0ach
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Activity: 1260
Merit: 1000
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February 17, 2017, 07:06:03 PM |
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What happened with r0ach? Wasn't he very bullish on bitcoin last year?
I still own bitcoin, but there is no possible endgame for Bitcoin whatsoever where having bitcoin become the world reserve currency would be better for humanity than using gold and silver. Kaczsynky was right and increasing technology is always inherently anti-freedom. Bitcoin isn't even fungible and all transactions are traced for fucks sake. It's already an Orwellian system by default, and it's inevitable the entire thing from top to bottom will be co-opted by govt the further it goes. Like I said before, government is going to create a fixed address alias system wrapper that goes around bitcoin and force you to use it or be considered a launderer. You think you've defeated "the man" (or jew as the case may be) by using bitcoin, but the jokes on you if you think that's the case. After they get you into that system, then they'll turn the entire thing keynesian with infinite coin count. Bitcoin probably already needs to turn inflationary to defeat it's newest discovered attack vector in the first place. The end result by herding everyone into bitcoin will be nothing more than bankers accomplishing their cash ban with the added bonus of full surveillance police state built into it and you willingly accepted it. Deep down, everybody fucking knows what I'm saying is true, but they're in it for the short term profit gains. If you could play god and invest X amount of money into silver or bitcoin then physically delete the one you didn't pick from time and space afterwards, there is no reason whatsoever to choose bitcoin if you value having some type of freedom in the long term. He obviously sold all of his coins and went all in on silver expecting it to moon after Trump started his trade/currency wars with China. I have my fair share of silver but my sentiment for Bitcoin is way higher. Silver is merely for bartering if the shtf.
No, I still obviously have a lot of BTC or I wouldn't be posting here.
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r0ach
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February 17, 2017, 07:19:09 PM |
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Of course mentioning a non-fungible currency where every transaction is traced with white and black lists - making it a permissioned ledger - is not going to lead everyone to the promised land of economic freedom and sound money is going "full retard". It can possibly give you an end to debt based currency in the short term, but I believe govt will co-opt it and turn it into infinite coin count anyway. Like I said before, the newest attack vectors point to the fact that bitcoin will likely have to turn inflationary in the first place to defeat them. Then after they put their alias system wrapper around bitcoin and force you to use it, they'll probably use that to auto-deduct taxes from you in some manner (at the 90% rate for people like Roger Ver), so you're just trading debt based currency for "confiscate everything" currency. We might be able to make money in the short term, though. Just don't forget to use the profits to buy gold and silver - the only known, real decentralized currencies on earth and base of Exter's pyramid.
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Holliday
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February 17, 2017, 07:24:18 PM |
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Bitcoin isn't even fungible and all transactions are traced for fucks sake.
Then why has no one been caught for all these high profile thefts / hacks? Everyone is always like, "Oh you can trace coinz," but I've never seen anything tangible come from it. Apparently applying block chain tracing methods is more difficult in practice than in theory. Like I said before, government is going to create a fixed address alias system wrapper that goes around bitcoin and force you to use it or be considered a launderer. You're a moron if you think I'm going to install some government version of Bitcoin or abide by any fixed address program. Give me a break. They can outlaw PMs just as easily as they can outlaw Bitcoin, but I know which one is far easier for me to hide from them (especially if I need to move from one location to another). Good luck carrying your life savings to another country when it's literally weighed down in AG.
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r0ach
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February 17, 2017, 07:26:29 PM |
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Then why has no one been caught for all these high profile thefts / hacks?
Why would they be? Mixers and things like monero (just a built in mixer on-chain) aren't illegal...yet. There will come a time when using a mixer will be a conviction for laundering by default and all transactions will be to and from fixed address alias systems. Everything outside of that will be considered criminal and the coins will be blacklisted. The side effect of a non-fungible currency = permissioned ledger. You're not getting around governments co-opting any digital currency system made. Even Satoshi says the same thing via two quotes: "bitcoin does not solve political problems" and "bitcoin will buy us only a few years".
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arcanaaerobics
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February 17, 2017, 07:27:39 PM |
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Bitcoin price is getting scary right now. Rising too fast too soon. Ready for a drop from dump soon maybe? PBoC will be giving their statements tomorrow if they found anything from these investigations they performed?
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Holliday
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Activity: 1120
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February 17, 2017, 07:35:03 PM |
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Then why has no one been caught for all these high profile thefts / hacks?
Why would they be? Mixers and things like monero (just a built in mixer on-chain) aren't illegal...yet. There will come a time when using a mixer will be a conviction for laundering by default and all transactions will be to and from fixed address alias systems. Everything outside of that will be considered criminal. You act like a government outlawing something prevents it from happening. You are smarter than that... I fully expect Bitcoin to be illegal in most places some day. But that will probably actually increase usage... To quote a famous princess: "The more you tighten your grip, Tarkin, the more star systems will slip through your fingers."
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HI-TEC99
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February 17, 2017, 07:39:33 PM |
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Then why has no one been caught for all these high profile thefts / hacks?
Why would they be? Mixers and things like monero (just a built in mixer on-chain) aren't illegal...yet. There will come a time when using a mixer will be a conviction for laundering by default and all transactions will be to and from fixed address alias systems. Everything outside of that will be considered criminal and the coins will be blacklisted. The side effect of a non-fungible currency = permissioned ledger. You're not getting around governments co-opting any digital currency system made. Even Satoshi says the same thing via two quotes: "bitcoin does not solve political problems" and "bitcoin will buy us only a few years". Where did Satoshi say that? Googling it resulted in nothing, and neither did a search of the white paper. Your search - satoshi "bitcoin will buy us only a few years" - did not match any documents.
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mainpmf
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February 17, 2017, 07:40:01 PM |
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Bitcoin price is getting scary right now. Rising too fast too soon. Ready for a drop from dump soon maybe? PBoC will be giving their statements tomorrow if they found anything from these investigations they performed? Just wait a few dollars left then short a bit No way such a rise is meaningful or sustainable.
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r0ach
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February 17, 2017, 07:52:38 PM |
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I fully expect Bitcoin to be illegal in most places some day.
Bitcoin does not function if made illegal. First off, the network traffic is not obfuscated. Second, the mining pools are too huge of an attack vector. Third, it's usage would be barter only in the black market. Unless bitcoin captured every transaction from the entire drug market on earth it's market cap would be tiny. So basically a small market cap with an insecure chain. If you outlaw gold it does not incur a penalty on gold's security; it does for bitcoin. As for mining the actual coins, it would be even less decentralized than it is now, or maybe entirely controlled by one single guy. You can't mine it with commodity hardware so all mining would be controlled by some shady guy in the backstreets of Shanghai. It would be like having to visit the Mogwai dealer in gremlins in order to mine. In fact, it's already basically like that in the first place.
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Holliday
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February 17, 2017, 08:20:41 PM |
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Bitcoin does not function if made illegal. Debatable. First off, the network traffic is not obfuscated. Easily changed. Second, the mining pools are too huge of an attack vector. The mining landscape has grown as it would in a world where Bitcoin is legal. If Bitcoin becomes illegal, it will obviously adapt. It can function just fine without large warehouses full of hardware. (Actually, it would be better off.) Third, it's usage would be barter only in the black market. If things get as bad as you are suggesting, EVERYTHING will be on the black market. Unless bitcoin captured every transaction from the entire drug market on earth it's market cap would be tiny. Entirely possible. So basically a small market cap with an insecure chain. If you outlaw gold it does not incur a penalty on gold's security; it does for bitcoin. As for mining the actual coins, it would be even less decentralized than it is now, or maybe entirely controlled by one single guy.
You can't mine it with commodity hardware so all mining would be controlled by some shady guy in the backstreets of Shanghai. It would be like having to visit the Mogwai dealer in gremlins in order to mine. In fact, it's already basically like that in the first place.
You sound like old Anonymint with this "government is going to take over / prevent Bitcoin" nonsense. It was silly back then, and it's just as silly today. If the government tries to crack down, Bitcoin simply adapts and evolves into something else. Good luck doing that with your shiny rocks!
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jbreher
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lose: unfind ... loose: untight
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February 17, 2017, 08:22:50 PM |
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WoW, look at all those fake Nodes popping up at the same time.
Just for clarification - what is a 'fake node'? To many Nodes running by a hand-full of people, BU will go bust. Segwitt will prevail!
At least one of those recent BU nodes is mine. I opened up my node to inbound connections last week. Segwitt will prevail!
Doesn't appear that The SegWit Omnibus Changeset will ever amass the 95% block requirement for activation. What's plan B?
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Holliday
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February 17, 2017, 08:28:06 PM |
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I opened up my node to inbound connections last week.
A few months of uploading 500-1000+ GB per month might start to convince you that drastically increasing the amount of data required to keep the network running might not be such a great idea.
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