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Author Topic: Merit Source application.  (Read 205 times)
Don Pedro Dinero
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September 05, 2018, 12:29:43 PM
Merited by LFC_Bitcoin (1)
 #1

This may come as a bit daring because all merit sources I’ve seen are higher ranks than me but I’d like to apply to be a merit source.

1.   Be a somewhat established member.

I don’t know if I am an established member, but I’m sure I’m at least on my way. If that “somewhat” wasn’t there, I wouldn’t have applied.

Up until now I have been sending my smerits to posts without having an explicit idea of my criteria for sending them. After thinking about it, I think it’s something like this:

1)   As for newbies and junior members, I give them merits for posts that show they are interested in learning, in contributing to the forum, and of getting rid of spam.

2)   As for all members, I give merits to well-researched posts, posts that point out new ideas, creative posts for improving the quality of the forum, or posts that answer well the main point of a thread.

Currently, I don’t send merits to Legendaries due to scarcity, as I explained on this post.

2. Collect TEN posts written in the last couple of months by other people that have not received nearly enough merit for how good they are, and post quotes for them all in a new Meta thread. The point of this is to demonstrate your ability to give out merit usefully.

1) https://bitcointalk.org/index.php?topic=4990867.0

I’m surprised this post hasn’t any single merit.

Several members have stated in private conversations with me that BT is getting boring. I must admit that I sometimes have trouble stimulating interest, or finding topics where I can contribute. The world is in economic turmoil with various economies on the brink of failure. Alongside this, established and new crypto-currencies and digital banking methods are gaining in popularity and strength. One would expect Bitcoin Talk to be humming at the centre of this revolution. How can we stimulate informed discussions, and help BT to grow away from its current emphasis on the crypto underworld, and gain a place in the respectable financial world?

I've started an initiative to award merits on a different board each day for a week or so, and I'm starting with the political board. Is there a better use for my sMerit awarding time?

2) https://bitcointalk.org/index.php?topic=4961202.0

About block size scalability issues. It seems that OP’s research isn’t correct but this newbie has done a lot of work.

    Let’s talk a little bit about the Bitcoin scaling issues. We will look at some projections for the future using estimates based on todays numbers. I realize that some of the numbers change quite a bit so it makes it a little difficult to calculate perfectly, but we can get some good generalizations. If I am missing something or if my logic is wrong or my math is wrong, please kindly help me understand, as this is meant for information purposes only and meant to provoke meaningful thought. Especially for Bitcoin core, who can not agree on how to scale, so, so far nothing has been implemented as far as block size is concerned. There is a lot of info to share So let’s begin…
    
     At current prices of $6,600 and with a block reward of 1800 coins a day (12.5 X 6 X 24) the current rewards paid out to the miners each day is $11,880,000. At some point in the future, around 2120 I think, the last bitcoin will be mined and the miners will have to live off of transaction fees alone. If that were to happen today, at todays rates, we would need to pay out the miners the roughly $11,880,000 with transaction fees alone. Something has to give. Either there will be less miners due to loss of profitability, or much higher network fees. At todays rate of $.572 average transaction fee (source https://bitinfocharts.com/comparison/bitcoin-transactionfees.html#3m ) we would need 20,769,230 transactions a day to pay the miners with the fees generated. We are currently just shy of 200,000 transactions a day. (source https://www.blockchain.com/en/charts) This means that we would need 103.8 times as many transactions a day to reach the 20,769,230 to make up the difference needed to sustain the miners. This comes out to 240.38 transactions per second! If you are familiar with the current block size limits you already know that the Bitcoin network can handle between 3.3-7 transactions per second. (source https://en.wikipedia.org/wiki/Bitcoin_scalability_problem) So, this means that the MINIMUM block size would need to be 35mb, not 1mb, not 2mb, not 8mb, but 35mb. No one is talking about a block size that large. No one. Again back to Bitcoin core. The block size is supposed to be scalable but they refuse to even double the size from current levels.
    
     These numbers listed above are conservative and if the price of Bitcoin goes up as high as some are speculating, they only get much worse. At a $50,000 Bitcoin price, and after the next Block reward halving (900 coins a day,) the amount of transactions would need to be 910.5 per second in order to pay the miners for their work if the block reward was gone. If we wanted to be at a point to where the network was growing at a rate that could keep up with miner payouts based on fees each time a block reward halving happens, then the network will need to grow to 910.5 transactions a second just to make up for the $45,000,000 lost in the block reward halving as well. So far we are not even close to that kind of adoption. Again, the network is currently capable of 3.3-7 transactions per second. Fast forward to 2120 when the last Bitcoin is mined and the numbers will have to be huge. What I am getting at is that in the end, if miners are going to live off of transactions fees alone, the current block size is only a tiny fraction of what will be required.  In the $50,000 Bitcoin price example shown above the block size would need to be 275.92 times as large to accommodate that many transactions. Bitcoin core will not even double the block size to 2 mb which would allow the Bitcoin network to reach a measly 6.6-14 transactions per second. What are they thinking? Some of the core members want to make no changes to Bitcoin and that means it will never see mainstream adoption. How could it? The numbers are simply impossible.

     One final thought: When the Bitcoin price rises mining becomes more profitable and the Hash rate will rise as more miners plug in to compete for the rewards. As prices fall, mining becomes less profitable and people will unplug their miners causing the hash rate to fall. It’s not the other way around. Just because the hash rate goes up it does NOT mean that the price of Bitcoin will also go up in order to support all the miners. It is possible to lose money mining Bitcoin.

This has been a brief summary of my thoughts The more we crunch these types of numbers the more obvious it becomes that the current situation on the Bitcoin network is a recipe for failure. The block size must be changed. We Better start asking the core guys really nice if they would like to go ahead and save the network, or are we doomed to live by their indecision forever? What are the motives to stay the same?      
    

3) https://bitcointalk.org/index.php?topic=1161825.msg45081328#msg45081328

(In Spanish) Deep answer to a post asking if it is true those pages that advertise you can double your money in 1 hour.

Primero que nada odio que este post este lleno de comentarios basura, Todos repiten la misma cuestion

- Si son una estafa.
- Estas paginas pagan sus deudas con nuestro dinero.
- No es recomendable apostar dinero.
- Se aprovechan del desconocimiento de las personas.

Solo uno de los usuarios presentes en este tema añadio una información util para los demás, https://badbitcoin.org/thebadlist/index.htm
en esta pagina puedes encontrar un listado de las paginas que anteriormente han estafado personas mediante un abecedario.

Si encuentras la pagina aquí definitivamente NO FUNCIONA.

Entiendo que necesitan temas para comentar, que quieren subir su actividad para poder tener mas rango, pero olvidan que necesitan meritos.
Haciendo nada de esfuerzo o no tratando de añadir algo util diferente de los demas usuarios no va a motivar a nadie para darselos.

Porque digo todo esto, pueden revisar la primera pagina del post el usuario comento esta duda en el 2015!


El tema estaba mas que cerrado, no se necesitaba mas nada, todos habían entendido el punto y derrepente llega este usuario a hacer un comentario en pleno 2018 y su comentario es super "FUERA DE TOPIC" ya no añade nada de valor incluso es de muchisimo menos valor que los usuarios que comentaban en el 2015.


Y gracias a ese comentario que por cierto no ayuda en mucho, tenemos 2 paginas nuevas de las mismas afrimaciones del 2015 o incluso mas pobres, diciendo cosas super obvias tratando de rellenar su actividad.

SI casi todos estos usuarios pertenecen a la campaña PRIVACY

Les agradecería la proxima vez intenten hacer comentarios de mayor calidad, o mejor coloquen ustedes sus dudas intenten compartir información importante para todos.

No solo revivan post ya muertos en un intento desesperado por tener mas comentarios y así obtener su airdrop, el foro es muchisimo mas divertido que un airdrop. Donde puedes aprender muchas mas cosas que ganar, 10$ si de verdad se utilizara todo los que no esta permitiendo el foro podríamos terminar

No solo revivan post ya muertos en un intento desesperado por tener más comentarios y así obtener su airdrop, el foro es muchísimo más divertido que un airdrop. Donde puedes aprender muchas más cosas que ganar, 10$ en una semana si es que obtienen eso.

Un ejemplo es el proyecto BITDEGREE, he visto ya dos mensajes de usuarios que quieren aprender a ganar 30$ mensuales, BITDEGREE es un proyecto que estaba en el foro y que te enseña habilidades para que tú puedas obtener un mejor trabajo todo esto de gratis y proyectos como ese hay muchos.

Ese es el tipo de información que ayudaría a todos los presentes a mejorar
1-   La comunidad
2-   Los ingresos de todos


4) https://bitcointalk.org/index.php?topic=4998076.msg45113534#msg45113534

About Tether vs Bitcoin price.

Sometimes it seems to have no effect on the price, but other times it causes drastic price movements. Feel free to check it out and let me know what you think about it.

it is because Tether is not "causing" anything. the dates just happen to coincide cometimes. basically they mainly print more USDT whenever there is more usage for it and if you look at the whole market you can see that Tether is not just used for trading bitcoin, it is used for altcoins too. in fact one of the ways people escape altcoin dumps is to go to USDT. and looking at the charts for instance the March, May and June cases are 3 of the biggest altcoin dumps of this year where each altcoin went down at least 50% and a huge amount of money exited that market. many of it to USDT.

of course in some cases like during January Tether printing "caused" a rise but not because of the reasons you might think. the reason was because people were convinced Tether is "pumping" bitcoin so when they released new coins they started FOMO buying bitcoin to stay ahead of something that wasn't even happening so the price went up.

5) https://bitcointalk.org/index.php?topic=4976704.msg44892952#msg44892952

I’m surprised this reply didn’t get a single merit (no matter if we agree with him or not).

Democracy sucks. Very few people are knowledgeable about important issues because:
1. A ton of people are just overall stupid to begin with.
2. Even smart people don't have much incentive to become knowledgeable about issues because they know that their vote is almost meaningless.

This is clearly demonstrated by the fact that referenda on raising the minimum wage almost always pass overwhelmingly, despite the fact that virtually every economist says that minimum wage laws are counter-productive.

Usually what you get in the end is a big mess of special-interest-backed laws which don't make any sense, hurt liberty, and drag down the economy. Example: A sugar company will gain $1 million per year from a sugar tariff. Every citizen will lose $0.01 per year due to slightly increased prices from that same tariff, for a total country-wide loss of $3 million per year. Most people won't know that this issue even exists because they are not sufficiently knowledgeable and don't have any incentive to become knowledgeable. For people who do know, it's still usually not rational to spend time and money trying to defeat this measure when you're only going to lose $0.01 per year. Whereas it is rational for the sugar company to spend money trying to get the tariff enacted. (The same sort of thing applies to niche ideological positions, too, not just money.) So these special-interest-backed initiatives often pass (there is in fact a sugar tariff in the US), and they accumulate over time.

The US founding fathers tried to set up the government such that it was more-or-less ruled by an elite set of intellectuals with democracy as only a distant check on possible tyranny, but it clearly didn't work, and nowadays democracy mostly prevails. I suspect that any mixed system of this sort will eventually fail. (Also see my post here.)

I've gone back and forth, but at the moment I tend toward thinking that monarchy would be better than democracy, even though monarchy is clearly also very flawed. At least the monarch can have some sort of guiding vision rather than the total schizophrenia we often see in democracies, and they have more personal skin in the game, since the state's success is their success, for their entire lifetime and extending through the lifetimes of their heirs. But I've never lived in an absolute monarchy, and maybe I'd think differently if I did.

In any case, it'd be better to:
 - Limit government involvement in everything. A government with little power can't do as much harm, even if it constantly makes poor decisions.
 - Have many smaller states rather than a few big ones. If there were 10,000 states and a worldwide culture of allowing freedom of movement, then you wouldn't have to worry so much about your state falling to tyranny or mob rule, since at least one of the other ones should still be OK.
 - Not brainwash people into thinking that democracy or absolutism is by definition good. I've met a lot of people who think that if a majority agrees to something, then that's the end of discussion: the thing agreed to is absolutely moral and correct. This is very stupid.
 - Not treat the law as your god, using it a comfortable shortcut for moral and/or utilitarian thinking.

6) https://bitcointalk.org/index.php?topic=4983061.msg44952024#msg44952024

About Bitcoin vs Fiat.

Don't be so quick to judge what "most of us want" by what's posted on bitcointalk.  That's like trying to determine everyone's thoughts on radical feminism by looking at Twitter posts.  It's very biased.

I, for one, don't want to see the end of fiat.  If that ever comes about, we're screwed, even if it's bitcoin that takes over.  That would mean that governments have failed, and most likely the world economy will have as well.  I want to see fiat continue and not get into some sort of hyperinflation situation where it's worthless.  There's nothing as anonymous as paying with paper money, not even bitcoin.  And I highly doubt there are many intelligent people here who really want fiat to fail.  You may as well be wishing you'll starve to death.

Even without computers we can use crypto if we have smartphones but we can't use it if there's no internet.
That's what scares me about crypto and even internet banking, debit cards, and all that.  If you've got cash you can use it anywhere in the real world, but if you've got no internet or lost your debit card and you have to buy something and all you've got are electronic forms of money, you're screwed.

Lmao you say that like it's our choice.
Yeah, and then there's that.

7) https://bitcointalk.org/index.php?topic=4997224.msg45085081#msg45085081

We need more newbies like this one.

First of all, you should move this thread to the Meta section, the only one in which you are allowed to post any ban-appeal commentary.
Use the Left-lower button down the thread, and move it.

Secondly, this is really difficult to assist you if you don't provide the banned account. In order to be able to answer most of your questions, we need to see what kind of threads-quotes you have created and have a nice vision of them.

Anyway, I will try to answer the most generic questions you've made:


I'm trying to understand here, now I do several bounties of different types... I follow the instructions given on the bounty thread on bitcointalk but then it seems the bounties can ask us to do the tasks but the fellony here is when we do them??

So, you do several bounties and the bounty manager is asking for you to break the rules? And, if so, how and which bounty?

Or maybe I got banned for something other than posting my weekly bounty tasks? (I  either do bounties or engage in chat about Alt/btc)

We can't know if you don't provide your account profile information.

Another thing I find difficult to understand is, who says which task is a "Low effort" task?? I mean... I was doing an Altcoin- Facebook (Like/share) bounty : It must be done no more than 24 hours after the post (so I keep loging in) and have a file down paste them until I have a decent amount to post on the thread not to mention that I do an original post with Images "occasionally",
I also do Signature bounty and for it I'm required to Post 15 times+  on BCT, So to me the signature bounty is lower effort than the Facebook one.
Looks like you are breaking some rules in here, it is awesome that you just only have the 7 days ban.


Well, I think the best you can do is to wait for your 7 days ban to pass and, meantime, to read the rules in here: https://bitcointalk.org/index.php?topic=703657.0

Unfortunately, there are bounty managers that actually don' t know the rules and are breaking them all the time. So the best way to be "safe" and to avoid any ban in the future is to be familiarized with the rules. If you see any bounty manager asking to break them, please report it.

Now, if you provide your account name, we can look forward and see what is actually happening. If not, this is impossible to determinate what of your posting activity is fraudulent or can be considered as one.

8 ) https://bitcointalk.org/index.php?topic=5000942.msg45155291#msg45155291

He should have been merited, although he should have separated the paragraphs better.

My 2 cents:
None of the above mentioned factors would cause a raise in the price of bitcoin if the regulation will ban it simply (or won't ban, but just will over regulate it).
I know that bitcoin has not been banned yet (and won't be banned in the EU, in the USA, just in some special countries), but banks are really against bitcoin everywhere (but not against the blockchain technology). As long as banks are closing accounts involved in wire transfers from/to bitcoin exchanges, you can't be sure that your money will arrive when you want to cash out your bitcoins... Bitcoin debit cards has been deactivated by VISA, so that's another closed door. Localbitcoins needs KYC, so it's not easy to cash out for those people who prefer bitcoin because it's unregulated, they simply won't be able to cash out as easily as before (before 2017, when these restrictions were put in place, parallel with the parabolic raise of the bitcoin price).
I know that these restrictions are good for the people who are unfamiliar with bitcoin but want to take a huge profit with a little investment, so they won't be able to invest in bitcoin and lose their investment too easy, but it's not so good for merchants who just don't want to risk their income... I know that merchants can use some service providers to exchange bitcoin payments on the fly, when the customer has paid the price of the item/service with bitcoin, but this won't help bitcoin to circulate in the economy...
This problem (the cash-out) can be solved by applying the KYC and AML regulations on all the exit points of the blockchain, where you can exhange your bitcoins to fiat, in this case the regulators will be happy to let you pay in bitcoin at every merchant (e.g. Japan). If an exchange wants to apply the KYC and AML things, they have to become regulated by e.g. the country's central bank. If they are regulated, and applied the KYC and the AML policies, they have to be able to restrict/stop those bitcoin transactoins which don't meet the requirements of these policies... In this case bitcoin's original idea will fail and will become 'just' another kind of digital fiat, so I don't really know what will be the optimal solution for bitcoin now...


9) https://bitcointalk.org/index.php?topic=4941563.0

Interesting discussion ETF rejected by SEC. Neither OP, nor any comment was merited.

As some of you may already know about it, that SEC finally rejected the ETF that was proposed by Proshare Capital Management LLC. The rejected came in today and SEC released the official document confirming the same.

SEC document Link: https://www.sec.gov/rules/sro/nysearca/2018/34-83904.pdf

Now my point is that, it is actually good for the market. The market was living on a false hope and SEC finally pulled the plug out. No more false hope will certainly help to recover the market. Newbies were excited about the news of ETF without knowing the fact. Let me point out a few for noobs.

1. The proposed ETF was meant for institiutional investors and not for common people like us.

2. The underlying asset for the proposed ETF was CME future contracts. No physical bitcoins were proposed to be purchased resulting zero impact.

3. SEC used your excitement to control the market price of bitcoin to some extent. With every delay announcement, market took a dip because you guys thought this ETF will be a great addition to the market. Wrong!

Now the ETF has been rejected by SEC, please don't let your emotion to ruin the market. The less numbers of regulated products around crypto, the better! The decision will help the market survive without intervention of SEC. So rejoice and cheer!

10) https://bitcointalk.org/index.php?topic=4994884.msg45094919#msg45094919

Comment on compound interest, inflation and investment on bitcoin.

completely failing to understand how compound interest works.

but when interest is only 0.05%.. compounding it.. is a mega laugh.. its stil nothing
yet put the funds in a bank.
next year 1.0005
10 years  1.005011

10 year compound interest and they only get out $1.005 (banks would round down the sub-cent so its still only $1)
if you put $1 a year in. after 10 years youll have $10 plus.. wait for it.. 2 cents interest


so its still better to just buy and enjoy a loaf of bread now while you can afford it. instead of putting $1 into a bank and realising in 10 years you can only buy 75% of a loaf (inflation makes loaf $1.34)

as for those saying waiting for 40's for a bettr paid job.. well yea. $15k a year mcdonalds job. vs $40k career after training, promotions puts you in a better place than saving a bit of your mcdonalds wage per year

even if you stayed at mcdonalds and just took a inflation matching pay rise. in 10 years youll be at $20k
now if you know that bread at this year is one 15,000th of your salary.
and in 10 years at your inflated mcdonalds salary you divide that by one 15000th .. you have enough to buy a whole loaf. no gain no loss based on labour time vs loaf cost

which is why putting it in a bank doesnt earn you more. infact you can buy less by banking it. hense better to spend it.
after all if a mcdonalds job is $15k and you put in 10% salary ($1.5ky1... 1.545ky2...) even with interest it only amounts to mid $17k after 10 years with $44 interest,
you might aswell spend your 10% a year when you get it.
then challenge yourself to retain/get promotions to be in a $40k job by the age of 40. and tell yourself to just save 6 months of your $40k career salary when your older. which would be $20k
10% over 10 years is more than a whole year of your initial salary.. but only 6months of your future career salary...

plus ofcourse only getting $15k initially 10% is a big hit.. but when at $40k you can easily live your back to basics lifestile for 6 months(live with parents for 6 months) and put $20k aside

after all would you prefer to live 10 years with only $13.5ky1 13.9ky2.... or for just 6 months when your older living on only $20k



now to be more smart... invest it into something like bitcoin which year on year is better than 3%
2015 never dropped below $170
2016 never dropped below $350 (>200%)
2017 never dropped below $900 (>250%)
2018 never dropped below $5800 (>600%)

11) I would like to include an eleventh one because when I thought of applying, I thought of this one:

https://bitcointalk.org/index.php?topic=2374792.0

Suggested topic is devoted to discussion of Global Road Map of Bitcoin BTC



Based on following factors (I-IV) suggested for discussion is the Bitcoin Global Road Map (V).


I Number of active bitcoin wallets

According to Mr.Woo's http://woobull.com/woos-law-of-bitcoin-user-growth-bitcoins-adoption-curve/ research, bitcoin users double every 12 months. Mr. Woo makes corrections (S curve) based on real world human behaviour. Here comes wild idea that algorythms, based on mathematics and Laws of Universe are already changing real world human behaviour. Through smartphones, computers and gadgets they force us to move quicker to live more intense lives. They change us, attuning human schedule to Rythms of Universe, hence increasing people's efficiency.



II Halvings schedule (next is on June 12 2020) - recalculating of network difficulty

The network started on January 3 2009. First halving took place in 2012 which led to all time high of more than $1000 in November 2013. So, after halving bitcoin price can increase 10 fold. After next halving in 2016 we witnessed the power of third wave of bitcoin evolution in November 2017, when bitcoin rocketed to $7,900 and peaked $12,400 in Zimbabwe.
After next halving, which means that emission of bitcoin slows down and miners will be rewarded only 6.25 bitcoins (now 12.5) for one mined block. Which increases the cost of every mined coin. Because of the limited coins supply increases the price.


III Achievements of past 9 years of bitcoin existence

https://99bitcoins.com/bitcoinobituaries/ 183 times Bitcoin could die. No other technology/product/startup is known that could survive under such huge pressure. That shows mathematical correctness of the protocol, flexibility and stability of Bitcoin Protocol. That means Bitcoin can evolutionate. It can change. Like a snake that gets rid of old skin, bitcoin is moving further, leaving its forks behind. Open to whole world's pressure, represented by banks, governments and financial institutions from outside and numerous challenges in form of soft and hard forks from inside, Bitcoin became capable to digest these pressures in the process of becoming holistic (i.e. indestructable) technology.

The Bitcoin Technology (Protocol) is so advanced and multifaced (combined knowlegde from Game Theory, Economics, Programming, Finance, Cryptography, Quantum Mechanics) that still there are only a few people who completely understand this technology. Since the Bitcoin building is so huge, some people see only separate floors of this building. Some see financial implications. Some see social implications. Some see that this technology can change the world completely - there will be no need in banks, governments, Systems. Some see the future of the technology in VR and IOT. Some call it digital gold. Some - digital currency. Some - digital assets. Probably we see birth of new class of asset, to which quite another approach should be taken by regulators. It is nither currency nor goods. It is all together, all kinds of assets represented in one digital form.  
The Technology is self-balancing, coming to dynamic equilibrium from any internal or external impulse, be it soft/hard forks or governmental pressure/attacks, between 4-5 parties, such as Developers, Wallets (People interacting with this technology), Finance (financial institutions, institutional investors), Miners and IoT in the future (yes, the Robots). Bitcoins can be traded 24x7, time moves 20 times faster in the world of Bitcoin, which can accelerate growth of human economics.



IV Hello New World !!!!

Bitcoin technology gives you freedom. Independence. But it also has another side of the coin - Responsibility. Personal. You are responsible for your money and if you were not conscious building cryptocurrency portofolio you can loose your funds. If you transfer to wrong address, you can't undo. No banks can help. No insurance company. You bear all the risks.
That increases awareness. That leads to forming many people making decision to take their Fate into their own hands. To be independent from the governments and banks. To have their own opinion how to live their lives. That means new way of living. No borders. Decentralised education, stimulating people to think independently to make decisions by themselves. Probably there will be merging of old (centralized) and new (decentralized) approaches in the world. Decentralization (New World) offers Competition to old centralized world, which can lead to mutual growth in the dance of Evolution.



V Bitcoin Global Road Map

---------------------------1 Birth of Bitcoin---------------------------

2007            Bitcoin Design and Coding
2008            October - White paper published

---------------------------2 Bitcoin's childhood------------------------

2009 Year 1. January - genesis (first) block mined. Year 1 (started from October 31 2008)
2010 Year 2. Bitcoin exchanges and bitcoin exchange rate established
2011 Year 3. Satoshi Nakamoto leaves the project, as it became self-sustainable
2012 Year 4. First Halving.
2013 Year 5. November $1000 peak
2014 Year 6. Massive correction  
2015 Year 7. Gaining stability
2016 Year 8. Second Halving. Segwit
2017 Year 9. Segwit 2x.
                   Around 0.2% of people (10-15 mln) using Bitcoin  
                   80% of coins mined.
                   Global acceptance among institutional investors.
                   By the Year 10 (November and December 2017) all time high $7,900

---------------------------3 Sky (Bitcoin's adulthood )--------------------------

2018 Year 10. $14,000-$27,000 (Fifth wave by Elliot)
2019 Year 11. Technologies such as Lightning Network (momentary payments, no 10 min waiting) are implemented in
                      the second layer of Bitcoin protocol.
                      Next Segwit 3.
                      Around 1% of people using Bitcoin.
                      Massive correction (50%+)
2020 Year 12. Third Halving.
                      Around 2% of people using Bitcoin.
                      Recovery and movement to 6 digits.
2021 Year 13. Around 4% of people using Bitcoin.
                     This year we will see 6 digits.
                     $100,000 per Bitcoin
2022 Year 14. Around 7% of people using Bitcoin.
                     Consensus with banks and governments - they Must Change to Survive.
                     Bitcoin wons this competition and banks/governments are forced to demonopolize themselves and change
                     their Attitude - State is People's Servant. State has to Serve People.  
2023 Year 15. Around 12% of people using Bitcoin

------------------------4 Space (Bitcoin's maturity) -------------------------------------

2024 Year 16. Fourth Halving?
                     Around 25% people using Bitcoin.
                     Blockchain technologies massively implemented
2025 Year 17. $1 Mln per bitcoin.
                     50%+ people using Bitcoin.
                     Bitcoin goes into Space (literally, to Mars).
                     Blockstream orbital sattelites broadcast bitcoin transactions worldwide and in the entire Solar System.
                     Technologies such as Atomic Swaps are implemented in top cryptocurrencies.
2026 Year 18. Segwit 4.
                     Massive correction.
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                     Social changes.
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------------------------- 5 Hello New World---------------------------------------------------

2032 Year 24. New generation (since 2012) is formed.
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This is quite speculative but deserves merits. Compare that to the typical newbie shitposter.

I don’t include it in the ten required because it was written more than two months ago, although it was quoted recently.


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September 05, 2018, 01:35:54 PM
 #2

Support. But I think it would be better to use quote instead of screenshots image on your application. However we need more merit source on the forum. As far as I know you distribute your smerit fairly. So theymos can consider your application.  Because merit system will dry slowly if there isn't enough merit source.

Edit : I am not sure how potential your picked post. To be honest it's not look like much strong to me for merit source application. No one merited on their post include you. If they deserve merit, at least you should merited them before listed on OP. I think still you can edit OP.

If you want to be a merit source:

 1. Be a somewhat established member.
 2. Collect TEN posts written in the last couple of months by other people that have not received nearly enough merit for how good they are, and post quotes for them all in a new Meta thread. The point of this is to demonstrate your ability to give out merit usefully.
 3. We will take a look at your history and maybe make you a source.

I am especially eager to have merit sources in sub-communities such as the local sections.

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September 05, 2018, 01:47:28 PM
 #3

Support. But I think it would be better to use quote instead of screenshots image on your application.

Yes, I’m not sure of why I did that. It would have been easier and faster to just quote, lol!

I think because I wanted to point out that on this thread not only OP should have been merited for starting a relevant and eminently current discussion, but some comments could have been merited as well, so, I didn’t want to just quote OP.

I've edited it with quotes, thanks.

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September 05, 2018, 03:40:37 PM
 #4

No posts from me? Fail.

When was the last time a merit source got added? Given the list of things that aren't getting done right now I'm not sure how much of a priority this would be for theymos (though adding merit sources frequently needs to happen for the system to work). It might be better giving a few mods or Globals the ability to designate new sources, or maybe even putting users to a vote once they've requested to be made a source. There could be even a team of 'trusted' community members that have their say and if the majority agree they're either made a source by whoever is able to or the recommendation is passed on to theymos. I previosuly suggested a board for high-merited users (or reporters) before and maybe these things could be discussed in there.

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September 05, 2018, 04:09:39 PM
 #5

No posts from me? Fail.

That’s because your posts aren’t of enough quality. Lol!

When was the last time a merit source got added? Given the list of things that aren't getting done right now I'm not sure how much of a priority this would be for theymos (though adding merit sources frequently needs to happen for the system to work).

I imagined that this wouldn’t be a priority and that, if I was going to get accepted, it would take some time. But what was most important is that for me this was a challenge: I knew it was going to be difficult, I knew that I was maybe going to not get accepted, but I want to be a merit source and I did my work to become so. I actually enjoyed it.

Quote from: hilariousetc link=topic=5012771.msg45237530#msg45237530
It might be better giving a few mods or Globals the ability to designate new sources, or maybe even putting users to a vote once they've requested to be made a source. There could be even a team of 'trusted' community members that have their say and if the majority agree they're either made a source by whoever is able to or the recommendation is passed on to theymos. I previosuly suggested a board for high-merited users (or reporters) before and maybe these things could be discussed in there.

Yes, that would be a good idea, and it goes on the same lines of Jet Cash’s idea of delegating smerits. If there is too much work, and people at the top (owner, staff, merit sources) are too busy, they could delegate some of the work to some people below them.

However, I’m getting used to the word “patience”.

Edit : I am not sure how potential your picked post. To be honest it's not look like much strong to me for merit source application. No one merited on their post include you. If they deserve merit, at least you should merited them before listed on OP. I think still you can edit OP.

I am out of merits buddy. If I had enough merits I would have merited them all. That’s the point. No one merited them and I believe they deserve at least, the very least, one merit.

And as I have explained above, I don’t send merits to Legendaries currently, so I’m not going to merit Theymos, Jet Cash, etc.


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September 05, 2018, 04:19:50 PM
 #6

Another dude for Merit Source Application.
I think this would be also put on a pending application like cwrt's.

Quote
But what was most important is that for me this was a challenge: I knew it was going to be difficult, I knew that I was maybe going to not get accepted, but I want to be a merit source and I did my work to become so. I actually enjoyed it.

Don't worry, you've earned your reputation and credits far enough. You'll get accepted but I think it will be on a long time process.

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September 05, 2018, 04:20:45 PM
 #7

It might be better giving a few mods or Globals the ability to designate new sources, or maybe even putting users to a vote once they've requested to be made a source.

This idea is not bad at all, with everything there is to do to make the forum function, is quite clear that some task need to be delegated from theymos to somebody else. I think is not that difficult to establish if somebody is appropriate to become a merit source, plus the merits are closely monitored so abuses and malpractice would be spotted quite fast.
Maybe you should open a thread about it or write this in a more appropriate thread to have the right visibility.

Op, prepare for a long wait  Wink


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September 05, 2018, 04:34:43 PM
 #8

I'm not sure about giving certain staff members the rights to do it, maybe? However, I think the application process needs to be changed. There should probably be a way of identifying potential merit sources better, and not requiring them to post a public application. They'll only be bombarded by newbies asking for merits.

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September 05, 2018, 04:41:50 PM
 #9

They'll only be bombarded by newbies asking for merits.

Then it'll be easy to find newbies who'll be put on ignore Wink and the distribution of merits to the members will be fair for the reason you've already filtered some of them Wink.

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September 05, 2018, 04:44:15 PM
 #10

No posts from me? Fail.
That’s because your posts aren’t of enough quality. Lol!
Chipmixer participant btw.
 
I imagined that this wouldn’t be a priority and that, if I was going to get accepted, it would take some time. But what was most important is that for me this was a challenge: I knew it was going to be difficult, I knew that I was maybe going to not get accepted, but I want to be a merit source and I did my work to become so. I actually enjoyed it.
Oh hell yeah. I applied on February 9, and I am still waiting. Loyce waited for like 4 months.

I am out of merits buddy. If I had enough merits I would have merited them all. That’s the point. No one merited them and I believe they deserve at least, the very least, one merit.

And as I have explained above, I don’t send merits to Legendaries currently, so I’m not going to merit Theymos, Jet Cash, etc.
It makes sense that legendaries shouldn't be merited, but that's not how its supposed to be, however it has become that. Merit whoever you want, as long as they make good posts. Just let that be your mindset.

Goodluck with your application. If you get approved before me, I'll be jealous of you,and will follow you around like QS & co.  Angry </sarcasm>
Sarcasm btw.
I know.  Lips sealed

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September 05, 2018, 04:44:50 PM
 #11

They'll only be bombarded by newbies asking for merits.

Then it'll be easy to find newbies who'll be put on ignore Wink and the distribution of merits to the members will be fair for the reason you've already filtered some of them Wink.

Yes, and I don’t think newbies will know anything about this application once it disappears from the first page. Unless they are multi accounts.

No posts from me? Fail.
That’s because your posts aren’t of enough quality. Lol!
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Sarcasm btw.

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September 05, 2018, 04:45:56 PM
 #12

~snip~
Strongly agree. You just said what is on my mind. Merit source are too less if compare with Bitcointalk community. However your all the suggestion is valuable for forum from beginning. I am not sure theymos is busy or just underestimate all the suggestions. There is more applicant waiting from long time. They should accept or reject. No idea about existing source how long they was wait.


They'll only be bombarded by newbies asking for merits

I think most of newbie isn't aware about what is merit source. Grin . They  know only merit  Wink

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September 05, 2018, 04:48:12 PM
 #13

I'm not sure about giving certain staff members the rights to do it, maybe? However, I think the application process needs to be changed. There should probably be a way of identifying potential merit sources better, and not requiring them to post a public application. They'll only be bombarded by newbies asking for merits.

I would start to look at those people which are actually giving away merits and then further look into what kind of posts are giving merits, we basically have all the data needed to make this kind of decisions.
I had even made a tool to try to spot possible merit sources some time ago, i believe could be a starting point, https://bitcointalk.org/index.php?topic=4393868.0 along with all the work done from other users as well.


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September 05, 2018, 04:51:27 PM
 #14

I would start to look at those people which are actually giving away merits and then further look into what kind of posts are giving merits, we basically have all the data needed to make this kind of decisions.
I had even made a tool to try to spot possible merit sources some time ago, i believe could be a starting point, https://bitcointalk.org/index.php?topic=4393868.0 along with all the work done from other users as well.
Yeah, the data is here now. Through a community driven effort to post it publicly. Theymos likely already had most of this information, and analyzed it before appointing anyone. However, I think we should look at the recruitment idea a little further, and maybe as suggested appoint certain members/global moderators to appoint new merit sources. Perhaps only admins would be allowed to remove merit sources. I'm not sure, but I think I would like to see a better way of finding, and appointing new merit sources.

I'm not saying the application takes long. I think I received a response off theymos within like 12 hours for mine. I think its just the inconvenience of it, and a lot of users who would make good merit sources might refrain from applying publicly at least.

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September 05, 2018, 05:09:49 PM
 #15

I support your application.  I've given you merits in the past, and I also think you know what posts deserve merits.  Your rank shouldn't have much to do with your ability to be a merit source, but I'm not sure what Theymos's take on that is.  Higher-ranked, trusted members might be less likely to be corrupt (as in, they might not sell merit or give it to their alt accounts), but you're not exactly a noob.

It might be better giving a few mods or Globals the ability to designate new sources, or maybe even putting users to a vote once they've requested to be made a source.
I would agree with that.  I didn't realize merit source applications were such a low priority.  Does Theymos think we don't need more, or is he just being silent about it?

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September 05, 2018, 05:13:04 PM
 #16

I would agree with that.  I didn't realize merit source applications were such a low priority.  Does Theymos think we don't need more, or is he just being silent about it?
He has stated before that there will likely be hundreds. He probably knows that more merit sources are needed, but its finding users that are suitable for the role I guess. Not many users are applying either. I don't think they are "low" priority; like I said I received a reply very quickly from theymos, and was added as a merit source within 24 hours if my memory serves me correctly.

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September 05, 2018, 05:22:30 PM
 #17

He has stated before that there will likely be hundreds. He probably knows that more merit sources are needed, but its finding users that are suitable for the role I guess. Not many users are applying either. I don't think they are "low" priority; like I said I received a reply very quickly from theymos, and was added as a merit source within 24 hours if my memory serves me correctly.
Was that a while ago?  Hilariousandco sounds like he's saying that new merit source applications are being put on the back burner.  I've seen some merit source application threads that keep getting bumped, but I don't know if those applicants were ever accepted.  I don't remember Theymos saying there would be hundreds, but I'll take your word for it. 

There probably should be at least 250 or so, because right now it's taking forever for members to rank up and I'm not sure that's entirely due to most posts being garbage.  There are Hero members who consistently make great posts, and getting to 1000 merits from 500 is one hell of a barrier.

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September 05, 2018, 05:34:08 PM
 #18

Was that a while ago?  Hilariousandco sounds like he's saying that new merit source applications are being put on the back burner.  I've seen some merit source application threads that keep getting bumped, but I don't know if those applicants were ever accepted.  I don't remember Theymos saying there would be hundreds, but I'll take your word for it. 

There probably should be at least 250 or so, because right now it's taking forever for members to rank up and I'm not sure that's entirely due to most posts being garbage.  There are Hero members who consistently make great posts, and getting to 1000 merits from 500 is one hell of a barrier.
Yeah, I guess so. It was towards the end of June. I just assumed that theymos didn't think some of the applicants right now were fit for the role of a merit source. All of my interactions with theymos have been pretty quick, and received a reply within 24 hours. Even, when I messaged him a few years ago. So, he's definitely seen the applications.

Hmm, I had a quick look, and maybe it wasn't theymos who said it. But, I'm sure I recall him saying so. I could be wrong. I agree though. More merit sources are needed.

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September 06, 2018, 10:01:37 AM
 #19

It might be better giving a few mods or Globals the ability to designate new sources, or maybe even putting users to a vote once they've requested to be made a source.
I would agree with that.  I didn't realize merit source applications were such a low priority.  Does Theymos think we don't need more, or is he just being silent about it?

Everything is seemingly a low priority right now or gets put on the backburner. Nobody knows what theymos thinks most of the time because he rarely addresses things and as such we never know where he stands and don't know whether he agrees with something or is fundamentally against it. I'm sure he's aware that sources will need to be added to meet demand, but if he doesn't have time for most of the other things that need doing then he likely won't for this either (and in the grand scheme of things it probably is low priority but that doesn't mean it shouldn't get done). That's why I think powers and processes need to be delegated to those who can be trusted to use them wisely or efficiently. If theymos and cyrus are the only two people who can restore accounts, add merit sources, add mods, check IPs for farming and ban evasion (+ other things) and none of them are getting done at all then that's something that needs to be addressed otherwise the ship is just going to crumble and continue to sink.

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September 06, 2018, 10:08:29 AM
 #20

I’ve seen a number of people apply to be a Merit Source who are probably up to the job. The OP is one of them imo. I’ve been in the same sig campaign as him for a long time now & have been aware of him being a good poster for some time.

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