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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1941069 times)
cypherdoc
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August 18, 2014, 06:24:57 AM
 #10741

Just so we don't forget:

“$29,000,000,000,000: A Detailed Look at the Fed’s Bail-out by Funding Facility and Recipient” by James Felkerson."

http://www.ritholtz.com/blog/2011/12/bailout-total-29-616-trillion-dollars/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheBigPicture+(The+Big+Picture)
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_mr_e
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August 18, 2014, 12:06:00 PM
 #10742

Oxford study?
 Huh
no it won't.  the Bitcoin core devs have never introduced a patch or rollback to save any of the multiple exchanges that have been hacked and most likely never will. all updates are thoroughly vetted while gaining a consensus from the community before introduction.  what's your point?
Most likely?  What Consensus?  Vetted by whom?  What community?  Aren't many people running older qt versions even now?
The point is that holding and mining are two separate activities and can even sometimes be opposed to each other.  But unlike gold for example, mining and using are very much interdependent in bitcoin.

http://www.coindesk.com/microscope-true-costs-gold-production/

yes, there is a clear pathway to submitting patches and/or updates that goes thru the core devs.  all changes get discussed ad nauseum ahead of time and consensus is formed before they're introduced into new versions of the core protocol.  the community is free to chime in and express opinions.  the point is that there is a process, not some off the cuff patch to rollback a hack as was just done by the NXT core devs.

i'm not sure what you mean by there being opposed interests btwn hodlers and miners.  i'm both and there's no inconsistency btwn both of my activities.

most ppl don't update their versions out of laziness or a reluctance to create unforeseen problems in their current operations that the updates might introduce.  it's not b/c they fundamentally disagree with the changes.

I think you're forgetting that  nxt is still a relatively new coin and it takes time for those kind of policies to be put it place... bitcoin has a much larger market cap and if nxt keeps growing it will get there to.
_mr_e
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August 18, 2014, 01:10:31 PM
 #10743

https://finance.yahoo.com/news/bitcoin-made-anonymous-bitcoindark-unprecedented-033200415.html

All of this is being made possible by being built on top of the NXT network. jl777 calls it the "nxt inside" campaign... analogous to "Intel inside"
sidhujag
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August 18, 2014, 01:18:25 PM
 #10744

https://finance.yahoo.com/news/bitcoin-made-anonymous-bitcoindark-unprecedented-033200415.html

All of this is being made possible by being built on top of the NXT network. jl777 calls it the "nxt inside" campaign... analogous to "Intel inside"

Lol nxt inside nice try. Intel was a multi billion corporation before anyone knew their slogan... Nxt? umm lets start with btc first

★☆★Syscoin - Decentralized Marketplace and Multisig Platform
Pay with Bitcoin, ZCash and many more
For more visit Syscoin.org  ★☆★
_mr_e
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August 18, 2014, 01:26:34 PM
 #10745

https://finance.yahoo.com/news/bitcoin-made-anonymous-bitcoindark-unprecedented-033200415.html

All of this is being made possible by being built on top of the NXT network. jl777 calls it the "nxt inside" campaign... analogous to "Intel inside"

Lol nxt inside nice try. Intel was a multi billion corporation before anyone knew their slogan... Nxt? umm lets start with btc first

It's just what he's calling the campaign for devs, not mass marketing.
_mr_e
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August 18, 2014, 01:34:32 PM
 #10746

The point being that nxt is a feature platform before a currency and other coins can take advantage of these features by integrating nxt core into their client.
kodtycoon
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August 18, 2014, 02:27:15 PM
 #10747

The point being that nxt is a feature platform before a currency and other coins can take advantage of these features by integrating nxt core into their client.

allot of people that are involved in btcd dont even realise that its going to be facilitating a new feature in nxt lol james aint doing that coding for nothing lol

cypherdoc
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August 18, 2014, 03:28:07 PM
 #10748

The point being that nxt is a feature platform before a currency and other coins can take advantage of these features by integrating nxt core into their client.

i'm comforted to hear that 5% of the NXT stakeholder market is a confirmed thief who will have forging rights on all future blocks.  perhaps he will attempt to write even more of a stake into his holdings?
_mr_e
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August 18, 2014, 03:31:03 PM
 #10749

The point being that nxt is a feature platform before a currency and other coins can take advantage of these features by integrating nxt core into their client.

i'm comforted to hear that 5% of the NXT stakeholder market is a confirmed thief who will have forging rights on all future blocks.  perhaps he will attempt to write even more of a stake into his holdings?

I guess you didn't hear that 85% of the nxt was returned to bter? And that now many more users are aware that they should be using the multigateway to trade rather then storing their nxt on a centralized exchange?
cypherdoc
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August 18, 2014, 03:34:58 PM
 #10750

https://twitter.com/cypherdoc2/status/501391679942049792
cypherdoc
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August 18, 2014, 03:37:03 PM
 #10751

The point being that nxt is a feature platform before a currency and other coins can take advantage of these features by integrating nxt core into their client.

i'm comforted to hear that 5% of the NXT stakeholder market is a confirmed thief who will have forging rights on all future blocks.  perhaps he will attempt to write even more of a stake into his holdings?

I guess you didn't hear that 85% of the nxt was returned to bter? And that now many more users are aware that they should be using the multigateway to trade rather then storing their nxt on a centralized exchange?

what did u have to do to get the thief to return 85% of the stolen NXT?  and will Bter ever stop using a hot wallet?  and will NXT users really learn to not leave NXT on an exchange if they've been bailed out?
_mr_e
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August 18, 2014, 03:42:18 PM
 #10752

The point being that nxt is a feature platform before a currency and other coins can take advantage of these features by integrating nxt core into their client.

i'm comforted to hear that 5% of the NXT stakeholder market is a confirmed thief who will have forging rights on all future blocks.  perhaps he will attempt to write even more of a stake into his holdings?

I guess you didn't hear that 85% of the nxt was returned to bter? And that now many more users are aware that they should be using the multigateway to trade rather then storing their nxt on a centralized exchange?

what did u have to do to get the thief to return 85% of the stolen NXT?  and will Bter ever stop using a hot wallet?  and will NXT users really learn to not leave NXT on an exchange if they've been bailed out?

Bter paid the hacker 200 btc and the hacker kept 8 million which means he now has a stake in the price of Nxt rising.

The multigateway is a no fee, in client, decentralized trading platform that is far superior to any centralized exchange and is now handling the most volume out of any exchange - and it's still in beta! Have you even looked into the technology at all? This website is built on the nxt api and this is the btc asset: https://trade.secureae.com/#4551058913252105307. It is also possible to deposit btc or ltc (soon many other coins are coming) and buy Nxt directly from the comfort of your own client: http://i.imgur.com/imaE0Gs.png. As even more people start using this and the volume continues to grow there will be no need for your nxt to leave your control again to trade. Soon instant trading will be introduced(rather then having to wait for a block). I'm sorry, but this is a massive breakthrough - I can't understand why this technology upsets you so much, it's only going to help crypto as a whole.
Erdogan
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August 18, 2014, 03:51:26 PM
 #10753

This must mean something:

"Exiles Launch Venezuela’s First Bitcoin Exchange"

http://panampost.com/belen-marty/2014/08/18/exiles-launch-venezuelas-first-bitcoin-exchange/
cypherdoc
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August 18, 2014, 03:55:46 PM
 #10754

Bter paid the hacker 200 btc and the hacker kept 8 million which means he now has a stake in hoping the price of Nxt rises.


and this is a good thing how?  negotiating and rewarding a thief?  who still now holds 8M NXT and is now a sanctioned stakeholder who can now manipulate forged blocks for his own advancement within the system?
_mr_e
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August 18, 2014, 03:57:52 PM
 #10755

Bter paid the hacker 200 btc and the hacker kept 8 million which means he now has a stake in hoping the price of Nxt rises.


and this is a good thing how?  negotiating and rewarding a thief?  who still now holds 8M NXT and is now a sanctioned stakeholder who can now manipulate forged blocks for his own advancement within the system?

It honestly just seems like you are picking at every little negative you can find and completely ignoring any of the benefits... No matter what the solution was you would have had a problem with it. I really thought you were more open minded then this. 8 million nxt won't even get a forger very far. Just like with bitcoin he has to play by the rules or fork himself away from the main chain.

and yes, this is a much better situation then him owning 50 million. I don't give a shit how much bter is out of pocket or that they "rewarded" the hacker, it was their fault and they have managed to fix it make the nxt system better off. Respect to them for that, it couldn't have been done any better.
cypherdoc
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August 18, 2014, 04:03:05 PM
 #10756

Bter paid the hacker 200 btc and the hacker kept 8 million which means he now has a stake in hoping the price of Nxt rises.


and this is a good thing how?  negotiating and rewarding a thief?  who still now holds 8M NXT and is now a sanctioned stakeholder who can now manipulate forged blocks for his own advancement within the system?

It honestly just seems like you are picking at every little negative you can find and completely ignoring any of the benefits... I really thought you were more open minded then this. 8 million nxt won't even get a forger very far. Just like with bitcoin he has to play by the rules or fork himself away from the main chain.

nitpicking?  really?  5% of the entire NXT issuance just got stolen from the hot wallet of the main exchange.  he just got paid off $100000 to return the NXT coins to bailout the customers.  who will learn anything from this except the thief who now understands that criminality pays.  and yes, it is a problem that he still holds 8M in a POS system that rewards stakeholders by depending on them to forge blocks.  read the paper on POS that was presented here yesterday.
cypherdoc
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August 18, 2014, 04:17:19 PM
 #10757

Eric King interviews Andrew Huszar responsible for QE1.  always good to hear that you're not imagining things:

http://kingworldnews.com/kingworldnews/Broadcast/Entries/2014/8/3_Andrew_Huszar.html
_mr_e
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August 18, 2014, 04:24:05 PM
 #10758

Bter paid the hacker 200 btc and the hacker kept 8 million which means he now has a stake in hoping the price of Nxt rises.


and this is a good thing how?  negotiating and rewarding a thief?  who still now holds 8M NXT and is now a sanctioned stakeholder who can now manipulate forged blocks for his own advancement within the system?

It honestly just seems like you are picking at every little negative you can find and completely ignoring any of the benefits... I really thought you were more open minded then this. 8 million nxt won't even get a forger very far. Just like with bitcoin he has to play by the rules or fork himself away from the main chain.

nitpicking?  really?  5% of the entire NXT issuance just got stolen from the hot wallet of the main exchange.  he just got paid off $100000 to return the NXT coins to bailout the customers.  who will learn anything from this except the thief who now understands that criminality pays.  and yes, it is a problem that he still holds 8M in a POS system that rewards stakeholders by depending on them to forge blocks.  read the paper on POS that was presented here yesterday.

That article only applies to the original proof of stake concept, as used in peercoin. It does not apply to nxt or even bitshares as they uses a far more evolved form of PoS.
_mr_e
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August 18, 2014, 04:27:16 PM
 #10759

You might be interested to read the discussion Vitalik came over and had with the nxt developers where he comes to the conclusion that nxt does things much better then it looks on the surface

https://nxtforum.org/general-discussion/bounty-for-successful-nothing-at-stake-attack/msg60114/#msg60114

To quote vbuterin

"So basically you use transactions-as-proof-of-stake. That sounds reasonable; it's as good as I can think of at this point, although it has the moderately-serious-but-not-fatal flaws that I described in my On Stake article. I eagerly await a full whitepaper description and open source code of your complete protocol so both myself and more formal academics can properly whack at the specifics."



Also Nxt cannot be forked back more then 720 blocks so that alone would thwart the attack mentioned in your paper. Not to mention the economic clustering feature and transparent forging that's in development...

Just like with bitcoin, I'd thought you be more aware that systems evolve. Just looking at their surface and taking them at face value is incredibly short sighted.

cypherdoc
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August 18, 2014, 04:49:03 PM
 #10760

You might be interested to read the discussion Vitalik came over and had with the nxt developers where he comes to the conclusion that nxt does things much better then it looks on the surface

https://nxtforum.org/general-discussion/bounty-for-successful-nothing-at-stake-attack/msg60114/#msg60114

To quote vbuterin

"So basically you use transactions-as-proof-of-stake. That sounds reasonable; it's as good as I can think of at this point, although it has the moderately-serious-but-not-fatal flaws that I described in my On Stake article. I eagerly await a full whitepaper description and open source code of your complete protocol so both myself and more formal academics can properly whack at the specifics."



Also Nxt cannot be forked back more then 720 blocks so that alone would thwart the attack mentioned in your paper. Not to mention the economic clustering feature and transparent forging that's in development...

Just like with bitcoin, I'd thought you be more aware that systems evolve. Just looking at their surface and taking them at face value is incredibly short sighted.



like i've said before, Vitalik's understanding of "fairness" doesn't impress me.  so how does he apply his view of the world into Ethereum and now NXT?  probably the same way.

you talk like NXT is a guaranteed success and everyone who disagrees with you is shortsighted.  you may be right; but again you may be wrong.
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