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Author Topic: Long term advance notice!  (Read 3056 times)
exstasie
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August 27, 2019, 10:03:51 PM
Merited by vapourminer (1)
 #181

Now that we know he actually has these 500.000+ BTC (I'm estimating around 1.5 million BTC) it's pretty much guaranteed we'll see 3k and lower again very soon.

We don't know anything like that. The court is ordering Craig to pay based only on documents he produced. No one has any proof that the Tulip Trust exists, or that he has access to these BTC. In fact, there's some evidence disproving the notion that he ever controlled the coins he claims to: https://blog.wizsec.jp/2018/02/kleiman-v-craig-wright-bitcoins.html

Until 2009 coins start moving on the blockchain, I wouldn't take any of this seriously. The only new development here is that Kleiman will be coming after Wright's assets for the rest of his life. Cheesy

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August 27, 2019, 10:41:58 PM
 #182

You seriously think such a high stake case would proceed if there is no evidence of the funds in question even existing? Get a grip.
You can rest assured he provided the signatures before the case proceeded.
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August 27, 2019, 11:05:55 PM
 #183

You seriously think such a high stake case would proceed if there is no evidence of the funds in question even existing? Get a grip.
You can rest assured he provided the signatures before the case proceeded.

Golly. Now you've confirmed it I simply don't know who to turn to. Thanks for clearing all this up.

Looks like the Fat Controller is the real deal after all. I hope some day I'm permitted to be in His presence so I can grovel at his red socks.

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August 28, 2019, 02:56:48 PM
 #184

I'm an impartial messenger:


Quote from: Shelby Moore

BTC is dead for most of its initial use cases, except ponzi shilling and Money laundry

Agreed (c.f. also my comment below), except you didn’t mention the apparently intended use case which the globalist bastards who created Bitcoin have ostensibly intended for it’s final purpose. That is to eventually be the reserve asset backing Facebook’s Libra global currency later when they are ready to devalue the U.S. dollar. What we have deduced in this thread (and the Rogue Wave and other threads I have linked to) is in order to launch their Libra global currency, our globalist masters will first manipulate public opinion such that it will appear that Bitcoin died. Then they will bring back the legacy, immutable Bitcoin which will never had died (although most plebs will be fooled into thinking Bitcoin died because Core will be destroyed this coming May 2020 if Craig keeps his promise).

I replied in the W.O. thread:


While Trump is crying a river over bitcoin, a small european country accepts it to buy shares:

https://www.reuters.com/article/us-belarus-cryptocurrency/belarus-allows-traders-to-buy-shares-with-bitcoin-idUSKCN1P91VZ

As time passes, nation-states will see the value of bitcoin and will adopt it. No FUD will stop the flood.

So I should hodl Bitcoin even though no one else in the world will accept it as payment for anything because I can buy shares in Belarus. :rotflmao:

Dude get in touch with the concept called reality.






Now that we know he actually has these 500.000+ BTC (I'm estimating around 1.5 million BTC) it's pretty much guaranteed we'll see 3k and lower again very soon.

We don't know anything like that. The court is ordering Craig to pay based only on documents he produced. No one has any proof that the Tulip Trust exists, or that he has access to these BTC. In fact, there's some evidence disproving the notion that he ever controlled the coins he claims to: https://blog.wizsec.jp/2018/02/kleiman-v-craig-wright-bitcoins.html

Correct. Agreed.

Craig Wright court ruling reaffirms that he is with “Satoshi”.

Yet all of you (who have commented and probably most readers) are ostensibly looking only at the tree bark and not over the tree tops to the Big Picture. See my written summary below…

All the drama around Craig Wright is for optics with the intention of fooling the plebs. From another thread:


CSW [may have] started this himself. In an interview, he says that KIeiman's estate will have to pay a 40% estate tax for the inheritance, meaning they're going to have to dump around 200k BTC. This is wrong though, because as the article notes in a correction, Florida has already eliminated estate taxes.

Btw, there is a 40% federal estate tax in the U.S.A.. The (lack of) Florida State estate tax isn’t relevant. This forum is laden with inkblot mistakes like that which totally mislead readers.

A few months back, he pulled off a major scam with his shitcoin BSV and was able to accumulate hundreds of millions of USD in funds. First, he filed a few lawsuits against individuals who rejected his claim as the original "Satoshi Nakamoto". This crashed the BSV prices, and many of the exchanges decided to delist the coin from their platforms (the action by exchanges also look questionable now). As per reliable sources, Wright amassed a huge volume of BSV at dirt cheap rates.

Then he stepped in with his second part of the plan. He filed a patent application for BTC and Blockchain, which resulted in BSV prices shooting up by 250%. He sold most of the coins that he accumulated previously at a profit, and in the end became richer by a few hundred million USD.

Craig is intentionally making a mockery of the court system.

What he did here was instigate the court (at his behest, feigned as a defendant) to give him an excuse to dump 852,000 BTC on the market this coming May 2020 when he’s ready to start the 6+ million BTC SegWit booty donations taking hard fork. He will be leading the miners to massive riches (in the form of SegWit “anyone can spend” donations booty taking) and away from a Core shitcoin impostor blockchain that will slow to a crawl (perhaps 1 block every week!). Craig is providing legal cover for his future actions. He will make it appear he is complying with a court order when in fact he was (posited to be) surreptitiously suing himself in court. Lol!

Craig is an actor. Everything he does is for a purpose to fool the gullible plebs and in our impotent, manipulable court systems.

Craig will only be selling his free airdropped Core tokens and BSV shitcoins. He will secretly hodl the legacy, immutable BTC which is the real treasure trove. He will (secretly) split the blockchain before uploading the free airdropped Core tokens to the exchanges (Core blockchain will only see the Core transactions until he reveals his non-compliant chain which Core will reject and hard fork away from), then he will keep the legacy, immutable BTC for himself. He will dump the 852,000 Core tokens for USDT, while amassing massive shorts, causing a contagion stampede, and then cash out of the exchanges. The exchanges who hodl in SegWit addresses will be bankrupted. Massive chaos coming May 2020 if Craig keeps his advance notice promise.

Before the May 2020 halving (which is the ideal time to do the SegWit donations taking, hard fork “attack”, because the mining rewards will be halved so marginal miners will be starving for revenue) he will drive the BTC very high to maximize the mining hashrate and difficulty before crashing the price at halving. Also to maximize his short positions when he dumps on the market and initiates the mining attack on Core offering massive profits to miners who mine his fork and not the Core fork (the Core will have slowed so much that miners who mine it will be bankrupted). It is a masterful plan. The cryptocosm is going to be going zonkers and in massive panic. Nobody expects Core to die. The world will be shocked. Lol, my popcorn is full stocked and my Orville Redenbacher's® Hot Air Popper machine is fully oiled.

Remember BSV is a decoy shitcoin. Craig’s bankster globalist backers ostensibly want the legacy, immutable Bitcoin, which I posit they will eventually use as the global reserve currency backing Libra when they are ready to devalue the strong dollar. In the interim, they will discredit and destroy cryptocurrency to turn the world’s attention to presumably Libra. After May 2020 when Bitcoin is known as the theft coin, the people of the world will reaffirm their suspicion that “decentralized” cryptocurrency is a scam (which indeed it is!). So the people of this sad world will embrace the centralized Libra. Masterful plan of enslavement our globalist masters have concocted. These globalist bastards created Bitcoin as a massive deception and as their plan of how to move the world to a globalized monetary system controlled by (as of today) the 39 largest tech and banking corporations (in the Libra foundation). Realize it doesn’t matter if the Bitcoin reserve unit is decentralized (and that is also a dubious proposition given the globalist banksters can buy all the mining equipment that want because they print money out-of-thin-air), because the Libra foundation will be able to change the ratios of reserve assets at-will. The “digital gold”, “decentralization” and “payment system” in the original Bitcoin whitepaper were exaggerations intended to deceive.

I will remind readers of key excepts of what I wrote earlier in this thread as follows:


Why are people still obsessed with this douchebag? Proof of keys or GTFO. It is the simplest way to prove he is Satoshi. None of this foolish pageantry. Only newbies are hooked to his BSV bullshit.


For people who do know with CW bullshit propaganda will just simply ignore this but the sad fact that there are still newbies who are being mislead with this bullsh*t news around.

With the bullshit news, what has he then achieved with it, he is only just trying to ridicule himself, I think when people see him now, they see someone that is into marijuana and its turning his head to say all those rubbish he is saying, and does he think that he will ever succeed to make the price of bitcoin drop so as to promote bsv? He has really failed.

In case you are new to bitcoin, selling 821,050 bitcoins is some serious showing of "proof of keys".

How quickly the myopic […] around here forget Craig crashed the BTC price from $6k to $3k:



Also it was [likely] on purpose that Craig Wright (who is just a pawn or front man actor for the globalists) was tasked to act like a fool, so that everyone would dismiss his warning. The globalists (who created Bitcoin) have fabricated a masterplan. Again I will link you to the information as follows:

https://bitcointalk.org/index.php?topic=5157901.msg52251343#msg52251343

https://bitcointalk.org/index.php?topic=178336.msg52254095#msg52254095



And here follows a link to my first post in this thread (relayed by @Last of the V8s) wherein I explained that Craig Wright’s “long-term advance warning” is really about a SegWit attack against Core Bitcoin to restore the legacy Bitcoin with immutable block size. Craig isn’t tell you this, because he is using BSV as a decoy to deceive everyone as to the true aims of his plans and his globalist backers:

https://bitcointalk.org/index.php?topic=5147618.msg51306669#msg51306669

As for the big picture of what is going on, who created Bitcoin, and why they are using Craig Wright as their pawn to obtain global totalitarian control, read the following linked post (and then the entire linked thread):

https://bitcointalk.org/index.php?topic=5157901.msg52251343#msg52251343

In summary, Bitcoin will (after this current bounce) soon decline back to the “21 EMA” level (~$8500 or below as was the case in June 2013), then slowly climb over $13k by Jan 2020, and then the pattern of 2013 will repeat with a moonshot before the May 2020 halving event which will mimic the price action of 2013:

https://www.tradingview.com/chart/BTCUSD/1QSGColK-My-Secret-Chart-For-When-To-To-Buy-Bitcoin-In-A-Bullish-Trend/
https://twitter.com/JacobCanfield/status/1164185278262718464/photo/1

The BTC price at the halving needs to be very high, so the mining difficulty is very high so that when Craig dumps 850,000 Core BTC (he will split his BTC before loading onto the exchanges and keep the legacy, immutable blocksize BTC) and then initiates the mining attack to force Core’s protocol to fork off, then as the price of BTC craters to below $1000, the Core protocol fork block chain (after being forked off from the legacy Bitcoin by the taking of the 6+ million BTC SegWit “anyone can spend” booty) will grind to a halt. Blocks will be found perhaps once a week. And the difficulty will not readjust for a year or years. At that point Core is dead and the exchanges will be fleeced and bankrupt. Massive chaos comin May 2020 if Craig keeps his promise.

The legacy, immutable blocksize Bitcoin will be the blockchain that survives and is eventually used to be the backing of the new global currency Facebook Libra, when the powers-that-be are ready to weaken the U.S. dollar and assert their resultant totalitarian control of global monetary policy (and the totalitarian political power that will provide them). You fools! We are going to be entirely enslaved in the 666 system.

I think you have no idea about my technological acumen. I for example wrote a four-part blog on blockchain consensus algorithm technologies:


https://steemit.com/cryptocurrency/@anonymint/scaling-decentralization-security-of-distributed-ledgers






immutable Bitcoin with a 1 MB hard blocksize limit

It is not "immutable" with respect to blocksize.   The blocksize can be changed, but since everybody has "defaulted" to a specific limit, it requires extensive coordination.

Soon you will be spanked and come to realize that the blocksize is indeed immutable. The game theory of why that is the case, has been explained extensively in the discussion in the Rogue Wave thread, which I have already linked numerous times in this thread. You are close to alluding to the reason where you mentioned the requirement for (impossible) coordination but there’s more details about the asymmetric poison pill in the game theory that is discussed in detail in the Rogue Wave thread. I do not have time to argue with an overconfident Dunning-Kruger “idiot” who thinks he is smarter than he is. You fail to read my archives and assimilate the prior information. You’ll be taught a lesson soon and be appropriately humbled. All of you that have ridiculed my warnings will be struck down to plebs size.

The specific limit changes the game theory of "stale blocks" significantly.

Dude please don’t try to introduce some naive (irrelevant) game theory strawman BS here. I don’t have time to go off unnecessary tangents to explain all your various misunderstandings and myopias.

It is naive to "blame satoshi" for this.

Satoshi is the globalist elite bankster bastards who have created Bitcoin. The entire scam is the work of “Satoshi” which includes their front man actor Craig Wright.

Satoshi (i.e. the think tank of the globalist elite) understood very well the game theory of the immutable blocksize. That is why Satoshi disappeared after hardcoding the 1 MB size into the default client. He understood very well the “anyone can spend” and asymmetric airdrop poison pill that would prevent soft forks from succeeding in the end game.

There is no amount of coordination that can trump the poison bill booty taking economics. Period.


Centralization = 51% attack (or sufficient percent such as perhaps 33%). A 51% (or sufficient majority) attack can surreptitiously censor anything whether it be entire blocks or just blocks that have transactions which are to be disallowed.

No.   They cannot.

They cannot effectively censor my transaction, as they neither know which transaction is mine, or what the contents of the tx is.
They cannot effectively censor a block ... as other blockfinders will catch up, and mine the tx into a competing block.

Incorrect.

1. A majority hashrate mining cartel can censor all transactions that don’t attach KYC if they so choose. A 666 system.
2. Other blockfinders will not catch up, because a majority hashrate mining cartel can censor all minority hashrate blocks.
3. Even less than 51% can effectively censor if they are able to subdivide the remaining hashrate onto numerous orphaned forks with a very high orphan rate. This can be accomplished numerous ways such as a by increasing the delay of block propagation.

You are not qualified to be commenting on the technology of blockchains. Please stop.


These are the things which make blockchain technology GOOD.   Your comments indicate that you either do not understand blockchain, or you are actively trying to undermine it.

Lol. Who does not understand?

https://en.wikipedia.org/wiki/Dunning%E2%80%93Kruger_effect

The clever game theory “poison pill” that Satoshi inserted into his immutable Bitcoin protocol, is such that all soft forks are “anyone can spend”

No not "all" soft works.   Just specifically segwit, due to the way it was implemented.    Again, you are demonstrating a severe lack of understanding.

Satoshi understood and stated that the only way to add significant changes to the protocol is something like P2SH. We quoted him in our discussions on this point.

So only the hodlers will make the final decision when Core is forced to fork off, because the hodlers will decide which tokens they sell and which they keep.

Indeed.   The market sets the price of all the different tokens, include any "air drops" caused by BTC forks during the coming segwit calamity.

This was already discussed in great detail in the Rogue Wave thread. Everyone always sells the airdrop tokens. When the SegWit donations are taken by the legacy, immutable Bitcoin protocol, then Core will fork off. The legacy, immutable Bitcoin address hodlers get both tokens. The Core shitcoin address hodlers get only the Core tokens. So which tokens do you think the legacy, immutable Bitcoin hodlers are going to dump, when Craig has cratered the Core price and the Core blockchain is only finding a block on the order of once a week?

However, why would any of them be worth anything.   1MB every 10 minutes, shared between the entire world is very very very very stupid.

Because Bitcoin was not created to be a payment system. It was created to be a reserve currency that backs Facebook Libra. Bitcoin will be used by billionaires only, but everyone in the world will use Bitcoin as their unit-of-account once it is the backing for Facebook Libra.

It is a masterful plan of global enslavement. And you were too slow to figure it out. I was here since 2013 and figured it all out for you. You should thank me. My very first post on this forum was my essay Bitcoin : The Digital Kill Switch.


You can clearly see that Satoshi conveniently ignored that plea

It was never up to Satoshi to fix it.   It is up to the miners....  they could find a larger than 1MB block if they really really want to.

No they can’t. You do not understand the game theory of Bitcoin. Please read the Rogue Wave thread.

If you ask me why I am so exasperated, it is because I have tried to help everyone and explain but there are so many hard headed fools who can’t open their eyes and see what is really going on.


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August 29, 2019, 04:42:37 PM
 #185

^ correct. In BitCoin it is really NOT hard to be a hard headed fool. 
So I often felt guilty here, but the good portion of selfreflection and going back to zero to try to think through all the steps down the path that brought me to : Segwit and bcash is not BitCoin

Can do this all day long if u want me.

 Grin

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The simple way is the genius way - in Moore's Law and Satoshi's WP we trust.
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September 01, 2019, 05:15:13 PM
Last edit: September 06, 2019, 08:35:46 PM by THX 1138
 #186

Another message relayed:

Quote from: Shelby Moore

Hopefully this will be my last post on this forum, or at least for a long time.

I wrote the following on Quora:

https://www.quora.com/Is-Bitcoin-controlled-somehow/answer/Shelby-Moore-III/comment/107351257

Note that is my hypothesis of what could happen if Craig Wright keeps his promise. It’s not guaranteed to occur. Personally though I am weighting the odds of it coming to fruition at greater than 50%.

Those who hodl in legacy addresses that begin with a 1, will not lose their BTC no matter what happens. But who knows what the exchanges and regulations are going to be later though.

I believe the West is headed for a Wiemar Republic style collapse over the next decade or two, and with Civil Asset Forfeiture the government (in the USA at least) can take all your assets even if you never did anything wrong yourself. Because the Bitcoin itself did wrong. So you cashed out and bought a house. Later the government will take your house. Civil Asset Forfeiture is legal precedent established by the King of England (click link below for details):

Facebook’s Libra + Bitcoin + Trump + Israel = 666 Orwellian Dystopia

I think even the onerous “proof of source of funds”, which many exchanges are adopting, will eventually not be sufficient.

People who read this will think I am crazy, because they do not open their eyes to objectively analyze the transformation of the West. Westerners think they are voting for fairness, etc.. They are really voting to enact all the propaganda that has been programmed into their brains by the globalist control over mass media and education.

At the link above, I explain that I think what is happening now in Argentina is an example of what will happen to all the Western democracies.

The strong horse and the weak horse

James A Donald is correct here.

The weak, unproductive (leftists, feminists, etc) STFU when they can’t pilfer from the honeypot of democracy.

Democracy is a weakness, not a strength, unless have the small government and isolationism of true Christianity. But small government does hold up at scale.

But what Jim is (intentionally because he is a Deep State agent!) not telling you is that Western politics has always been such that we only get a King who is either a despot (or so weak as to be devoured by leftists, feminists, etc).

Westerners won’t transition from democracy without first going through something like the socialist Wiemar Republic. The reactionary despot (e.g. Hilter) won’t be a desirable outcome.

China has their one-party system because their culture has always been about patriarchal fiefdoms. They avoid democracy but fall into the decadence of stagnation and centralization of control.

Westerners have only ever been great with manorialism:

https://steemit.com/philosophy/@anonymint/geographical-cultural-ethos-science-is-dead-part-2

IOW, we have only been great as rebels and small Christian
communities acting independently and then the growth that comes when we network those communities. Eventually the networking leads to centralized politics and the honeypot that incentivizes the thieves analogous to flies to honey (aka leftists and feminists (perhaps unwittingly) conspiring with the globalist capture of government).

The U.S. Constitution and States rights was an attempt to network while retaining small government. It mostly failed, although we still have some of our essential rights such as gun rights, which Europeans never had or totally lost.


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September 02, 2019, 12:30:13 AM
 #187

Thanks @Shelby, your opinions are well worth considering, you obviously devote considerable time and effort to researching crypto and Bitcoin,  I hope to see you launching your own project in the coming months too!
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September 06, 2019, 09:18:19 PM
Last edit: September 07, 2019, 08:37:24 AM by THX 1138
 #188

Relaying once more.

Quote from: Shelby Moore

https://twitter.com/whale_alert/status/1169815776733220866?ref_src=twsrc%5Etfw

1 billion dollars... moved easily, securely and without any third party. Bitcoin really is amazing

Sweet mother of god! I wonder what this pile of btc will be worth after the halving/next parabolic rise  Cool


~$0.

Confirmed my earlier suspicions, that Bakkt warehouse is storing in SegWit 3 addresses:

https://www.blockchain.com/btc/tx/4410c8d14ff9f87ceeed1d65cb58e7c7b2422b2d7529afc675208ce2ce09ed7d

Thus if Craig Wright keeps his promise then all the institutional Bakkt BTC will be lost in a poof it’s gone event after the halving May 2020.

This makes me even more confident that the SegWit attack is likely coming at the halving May 2020.

When re-reading one of my blogs, I was reminded of a post I wrote in 2017 about Satoshi’s deception.



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October 24, 2019, 06:03:30 PM
 #189

Relaying a price prediction for Bitcoin from now to May 2020. This shared prediction does not reflect my personal opinion.

Quote from: Shelby
This is obviously based on the assumption of a SegWit donations attack at the halving event in May 2020, with the need for the price to moon before the halving so then when the price is crashed by Craig Wright dumping ~1 million BTC then the SegWit (i.e. Core) blockchain will lose most of its miners and thus slow down to perhaps 1 block found every week (instead of every 10 minutes) and with the mining difficult not to be reset (without some centralized intervention) for perhaps a year or never. The inability of the SegWit blockchain to proces transactions as the price craters will cause the price to crater even more in a spiraling into the death-of-coin abyss effect.



From more than 5 months ago I had predicted in one of the possible scenarios:



Enjoy the wild ride!
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October 24, 2019, 08:07:55 PM
 #190

They'll still have solar panel miners surely, some are already expended their money to mine.    Its similar in a few commodity operations, some have to mine to get any income and stopping is not a real option.  I remember a situation like this with the frackers in oil and gas, they have already put in an investment and despite a price lower every week they must continue to extract and sell for cashflow to repay loans, etc.   It went on for a while and did result in a surprisingly low oil price to the shock of OPEC.

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October 24, 2019, 11:54:21 PM
 #191

It's not a long term advance notice, just a bluffing.
The fact is bitcoin still rise up and reached $13000 in July, although now it seems really bearish, probably drop to $6000. However, the best long term advice is buy bitcoin in the dip and sell at the peak Cheesy just hold with all your patience.
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October 25, 2019, 03:16:27 AM
Last edit: October 25, 2019, 05:21:31 AM by marcbitcoins
 #192

If this plan was on 2018 then it is a long overdue by now because we have few months left before this year would end. Although the Bitcoin market is still in bearish but i think this is just a normal market movement because CSW is mentioning of up to 50% one time big time dump that never happen therefore it is clear that this is one of his strategy to push Bitcoin SV after declaring he was Satoshi.

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October 27, 2019, 06:33:00 PM
 #193

Relaying a response:

Quote from: Shelby
They'll still have solar panel miners surely, some are already expended their money to mine.    Its similar in a few commodity operations, some have to mine to get any income and stopping is not a real option.

Read and understand the thread before posting some misunderstanding which had already been clarified.

The theory is that the Bitcoin Core miners will be forced to go mine the legacy Bitcoin and receive their fair share of the SegWit donations, thus making them very profitable whilst the Core protocol blockchain dies. Yet I repeat myself over and over again, because readers are too lazy to read the damn thread entirely.

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October 28, 2019, 06:13:44 AM
 #194

Relaying reminder tweets

https://mobile.twitter.com/BitcoinSVtrain/status/1142015352798187521

Carpe diem  -  understand the White Paper and mine honest.
Memo: 1AHUYNJKPfY7PjVK1hNQFo5LrdGixuiybw  -  https://metanet.icu/
The simple way is the genius way - in Moore's Law and Satoshi's WP we trust.
THX 1138
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October 31, 2019, 09:33:24 AM
Last edit: November 01, 2019, 08:55:09 AM by THX 1138
 #195

Relaying another response:

Quote from: Shelby



Quote from: Freddy Krueger
I started a thread on this.

https://bitcointalk.org/index.php?topic=5197354.msg52932078#msg52932078

But it really seems to me that whales or whoever have completely lost their minds on making big mining farms at this point in time...

Ok, as usual, as big players and whale antic's go...I don't get the current LARGE upsurge in Whale games and interest in very big mining operations and expectations,

Me thinks they understand a SegWit “donations” booty is coming...[1]



Quote from: Freddy Krueger
Stock to flow is irrelevant for LTC.

You people are the most dishonest, retarded, fucking scammers I've ever seen in my entire life.  It's not possible for this 'stock to flow' nonsense to be completely invalid for Litecoin and every other coin and work ONLY for Bitcoin. They're all the same 'asset' class - I use the term "asset" extremely loosely because imaginary timestamps are not an asset - so it either has to work for all of them or none of them.  It obviously works for none of them because a stock to flow model only works on physical commodity resources humans actually need with some type of inelastic demand.

Forced to reply as you are calling me in a way I don't like.

If only you would use some of your time to actually read about the model (plenty of places to do that, one of those being here), instead of repeating the same old story, you would understand why this model is not applicable to Litecoin.
What is your rationale for why 'stock to flow' would work on Bitcoin when it doesn't work on ANY other digital crapcoin?  You don't have one.  You're either required to be a dishonest scammer or negro-level IQ to not be able to realize scarcity in vacuum for scarcity's sake is meaningless.  The idea of stock to flow requires pairing scarcity with inelastic demand.  To have inelastic demand requires being an actual physical resource humans need, not an IMAGINARY timestamp.  TIMESTAMPS are not in short supply ANYWHERE.

Bitcoin is the only cryptocurrency with unforgeable costliness,

What the fuck.  You have GOT TO BE SHITTING ME.  That's an entirely made up, bullshit word salad like blue hair feminists fabricate out of thin air to try and bamboozle people.  I don't know why you people even quote Nick Szabo when he's an Ethereum shill.  It was obvious it was a Wolf of Wall Street IPO scam before it was even released, with the system itself incapable of even functioning at a drawing board level.

When he's bullshitting you in things like that, it's obvious he's bullshitting you in lots of other places too.  He makes numerous leaps of illogic like concluding the only reason humans value something like gold is because it has large amounts of sunk cost fallacy to produce, then tries to claim that PoW aka "unforgeable costliness" replicates that sunk cost fallacy making Bitcoin equal to gold LOL.  This whole simpleton train of logic is so stupid it hurts.  If Bitcoin had "unforgeable costliness", the 51% attack would not even exist for fucks sake.

And producing gold isn't even sunk cost fallacy in the first place since you're producing an actual resource, while Bitcoin REALLY IS sunk cost fallacy producing nothing.  So it's a complete apples to Toyota Corollas comparison.  Then factor in absolutely none of the other million traits of physical metals and Bitcoin are comparable either with one being an imaginary object and all.

Unforgeable costliness and the lack of a sunk cost fallacy in the longest (aka greatest cumulative difficulty) proof-of-work chain, is due to the Nash equilibrium game theory that incentivizes everyone to continue mining and transacting on the legacy, immutable original. This theory has been falsified numerous times with every hard fork of Bitcoin being sold off.[1]

The decentralized Nash equilibrium exists because the utility of Bitcoin is greater than any extant decentralized alternative (e.g. gold). Thus there’s no Schelling point to reach for alternative forks which have less consensus and thus less utility. Other examples of cryptocurrency utility which gold lacks, include the ability to be transported instantly as information and the fact that the tangible mass of Bitcoin (which is all the mining hardware) is disconnected from the intangible store of the transportable asset. Note the theoretical ideal proof-of-work is 100% efficient and thus burns no electricity (as heat) and burns only the depreciation of the hardware. Proof-of-work is an epochal technological shift which will transform human civilization. Proof-of-stake does not burn a tangible resource, so thus has no unforgeable costliness in which to base a Nash equilibrium.

The properties of gold which give it utility that older forms of money and later which fiat money lack, have thus historically been a Nash equilibrium, because there was no Schelling point to reach for metals with inferior properties, except that gold was too rare to be used as the transactional currency which gave rise to silver as a medium-of-exchange (aka the poor man’s money). Yet gold was in tension with social scalability (e.g. the soon-to-be, deprecated need for debt financing in the former fixed capital age) and thus the Nash equilibrium for gold could not prevent the rise of fiat money which was an imperfect yet more socially scalable form of money.

The huge problem for gold now is that proof-of-work replaces virtually all its utility while adding superior utility.


Quote from: Ezekiel 7:19 NIV
“‘They will throw their silver into the streets,
    and their gold will be treated as a thing unclean.
Their silver and gold
    will not be able to deliver them
    in the day of the Lord’s wrath.

The only remaining utility for gold is the illogical and unjustified fear that decentralized mining can be disrupted or the possibly justified fear that mining can be monopolized. If the latter technological problem is justified and can be solved, a Bitcoin killer may still be on the horizon. However bear in mind social scalability. It may be the case that the illusion of decentralization combined with the lack of extremely potent anonymity technology, may be more socially scalable than some other ideal.

My belief is that the historical bifurcation of the world into gold versus fiat money will be replicated with a bifurcation of Bitcoin (as the reserve asset backing the new monetary system which may include Libra as a global 666 transaction coin) versus an underground, dark web, completely anonymous more provably decentralized proof-of-work altcoin. Note how my perspective differs from the one held by those who incorrectly (c.f. also) believe HTLCs such as Lightning Networks will be the transactional system.

Litecoin has unforgeable costliness only if it provides sufficiently unique and compelling utility that Bitcoin and other altcoins lack. The confusion over whether it does or will, is why altcoins have had some value over the short-term, but just look at their charts paired against BTC and it is clear they are losing leverage over time (i.e. the illusion of their utility is dying). Significant deadcat rallies in leverage relative to BTC are likely along the way to their eventual death (with one such rally already underway with GRS/BTC as I predicted in my private discussion group and likely LTC/BTC preparing to launch also).


[1] Btw, this is why Bitcoin Core (aka omnibus SegWit at al mutations of Satoshi’s protocol since Satoshi exited the crime scene) is an impostor “soft fork” and will be eventually destroyed when a hard fork (aka fuck-off) is forced (and I believe probably at the May 2020 halving) by a SegWit protocol violation that enforces said unforgeable costliness to protect the said Nash equilibrium which gives Bitcoin its durable value.


Quote from: Freddy Krueger
Bitcoin is a derivative of the US dollar and various other fiats and is in no way free floating whatsoever, nor the unit of account of anything.

That will be falsified when Libra replaces the US dollar with (legacy) Bitcoin as the reserve sometime later in this decade and the U.S. dollar collapses whilst (legacy) Bitcoin continues to the moon.

For inflation?  If there was a Venezeulan-style melt up, people then lose faith in the current unit of account (Jewish Federal Reserve note), and all pile into the base of Exter's Pyramid to try and retain value (physical gold and silver). Bitcoin is located nowhere near the base of Exter's Pyramid so in a rush to the exits will not be the benefactor of becoming the new unit of account.

Empirically that’s already been falsified recently in Venezuela. The Venezuelans weren’t walking across the border to Colombia with bits of gold in their pockets. That would have been too dangerous. Interest in cryptocurrencies has been significant and rising according to anecdotal reports. Ditto Argentina.

Heck Venezuela even had the threat of their gold being confiscated by the bankers in London. Gold has declining utility because the transferrable asset is attached to its physical mass, unlike proof-of-work where the physical mass (the mining equipment) is detached from the transferable value.

Face the facts.




Looks to me, (or my uniformed self) that China soon is gonna make a real run at Crypto with their own Cryptocurrency.

Again, IMHO, they seem to be taking the LIBRA route and seems to me to be sidelining Bitcoin as a 'store of value' and

https://www.fxstreet.com/cryptocurrencies/news/china-is-banning-any-criticism-of-bitcoin-and-blockchain-technology-201910311837

Libra and China’s competitor shitcoin ultimately must back their centralized, no Nash equilibrium proof-of-stake shitcoins with Bitcoin reserves, otherwise they’ll be replaced by a transactional medium-of-exchange that does. Because Bitcoin is the only monetary asset other than precious metals which has a decentralized Nash equilibrium due to unforgeable costliness.

However, what happens if someone creates a cryptocurrency that effectively has decentralized (i.e. can’t be BSV nor BCH which only increase block sizes via the ruse of centralized mining) transactional volume scaling and a Nash equilibrium with unforgeable costliness? HTLCs such as Lightning Networks can’t succeed and besides Bitcoin has a poison pill game theory which will destroy all the mutations to the protocol since Satoshi left the building.

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November 14, 2019, 07:37:54 PM
 #196

There won’t be any Segwit spend to any attacks…

There are barely any nodes running satoshi’s old codebase, that code was buggy and vulnerable and couldn’t handle higher traffic, so they’re all gone.

It’s the same as breaking any other consensus rule — like allowing joe-blow to spend block 1’s coins with a key that isn’t the right one, or mining 1000 BTC in a block or whatever: all nodes enforcing the rule will ignore the invalid blocks just like they never happened. Any nodes not enforcing it, if there are any, will play along so long as there is more hashpower mining the invalid blocks. Of course, the miners making invalid blocks are burying millions of dollars a minute in power to make “blocks” that pretty much only their own nodes will accept, so they’ll rapidly go bankrupt.

This is the same deal for any nearly-universially deployed consensus rule. Segwit would only be different if it weren’t deployed everywhere but it (like almost all other rule additions made going all the way back to the rules satoshi added in 2010) didn’t get activated until an overwhelming majority of users, all major businesses, etc. were enforcing it.

Null
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November 14, 2019, 07:54:25 PM
Last edit: November 16, 2019, 06:05:42 PM by THX 1138
 #197

Relaying a new message:

Quote from: Shelby
If as I have posited in this thread, that Craig Wright succeeds in building a legacy BTC fork in private splitting his ~0.9 million BTC and depositing his free ~0.9 million Core airdrop tokens to exchanges so he can dump them for stable coins (e.g. USDT) before initiating the SegWit attack (which will crater the Core BTC price for the reasons already explained in this thread), then all the rest of us have a new problem to worry about that I did not think of before:

Resolving a long-standing question, the guidance says new cryptocurrencies created from a fork of an existing blockchain should be treated as “an ordinary income equal to the fair market value of the new cryptocurrency when it is received.”

In other words, tax liabilities will apply when the new cryptocurrencies are recorded on a blockchain – if a taxpayer actually has control over the coins and can spend them.

A23.  When you receive cryptocurrency from an airdrop following a hard fork, you will have ordinary income equal to the fair market value of the new cryptocurrency when it is received, which is when the transaction is recorded on the distributed ledger, provided you have dominion and control over the cryptocurrency so that you can transfer, sell, exchange, or otherwise dispose of the cryptocurrency.

A24.  If you receive cryptocurrency from an airdrop following a hard fork […] You have received the cryptocurrency when you can transfer, sell, exchange, or otherwise dispose of it, which is generally the date and time the airdrop is recorded on the distributed ledger.

So since the blockchain timestamps are the only record of relevance since we always have control over our private keys, this means when Core is forced to fork off from the legacy fork because of the SegWit donations which are a illegal in Core but legal in the legacy protocol, what happens is that Core appears to have forked at the moment Craig created the private legacy chain with said protocol violations which Core will not accept when he publicly releases the legacy fork. Yet Core is forking off from legacy, not vice versa because only legacy address hodlers get free airdropped Core tokens in addition to retaining their legacy tokens.

So think about what this means. I already explained upthread that if you hodl in Core addresses (i.e. those beginning with 3) then you will only have worth-less tokens and be unable to sell them after the attack begins for reasons I already detailed in this thread. But if you hold in legacy addresses (i.e. those beginning with 1) then you will retain the legacy BTC which will continue to appreciate in price probably headed to $1 million, but you will also receive a free air-drop of the worth-less Core tokens.

But the problem for legacy address hodlers is that the IRS will presume the value of the Core tokens when you received them was before the SegWit attack began, thus you will owe income tax on the full value of the Core tokens before they plummeted in price and became worth-less! Ah the diabolical plan of the powers-that-be to destroy us becomes more clear. They will jack up the BTC price to perhaps $100k before the May 2020 halving, then we will all owe income (not capital gains!) taxes on that amount even we can’t sell any more.

They are planning to burn our fingertips up to our armpits. Clever bastards!

Other governments will likely follow the same “common sense” rules because all the governments are bankrupt and need more income from taxation.





Quote from: Shelby
There won’t be any Segwit spend to any attacks…

There are barely any nodes running satoshi’s old codebase, that code was buggy and vulnerable and couldn’t handle higher traffic, so they’re all gone.

It’s the same as breaking any other consensus rule — like allowing joe-blow to spend block 1’s coins with a key that isn’t the right one, or mining 1000 BTC in a block or whatever: all nodes enforcing the rule will ignore the invalid blocks just like they never happened. Any nodes not enforcing it, if there are any, will play along so long as there is more hashpower mining the invalid blocks. Of course, the miners making invalid blocks are burying millions of dollars a minute in power to make “blocks” that pretty much only their own nodes will accept, so they’ll rapidly go bankrupt.

This is the same deal for any nearly-universially deployed consensus rule. Segwit would only be different if it weren’t deployed everywhere but it (like almost all other rule additions made going all the way back to the rules satoshi added in 2010) didn’t get activated until an overwhelming majority of users, all major businesses, etc. were enforcing it.

Read the thread to correct your myopia. All of your incorrect points were already refuted numerous times. I am not going to repeat it all again, just because you are too lazy or incapable of assimilating the logic in the thread.


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November 14, 2019, 08:24:07 PM
 #198

There won’t be any Segwit spend to any attacks…

~snipsnip~

Null
Null? what kind of name is that? my guess is nutella

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November 14, 2019, 08:57:21 PM
 #199

Why not split work and anxiety more evenly? All I'm saying is 100 percent to anxious rants trying to understand CW's potential scam plan (or anything else for that matter) seems like a poor strategy, when you could be building something instead. 
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November 15, 2019, 02:48:18 AM
 #200

According to new IRS rulemaking, coins are received when they are manifest on the blockchain. Don’t move your coins to the new blockchain, ergo you have not received them, ergo no tax due.

Unless of course you want to claim them. That’s a problem of your own making.

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I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
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