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Question: Will you support Gavin's new block size limit hard fork of 8MB by January 1, 2016 then doubling every 2 years?
1.  yes
2.  no

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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1803899 times)
dompsairs
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August 18, 2014, 05:24:05 PM
 #10781

I sold some of my old gold bracelets while im hodling BtC even after the low price.  Cool
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_mr_e
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August 18, 2014, 05:28:44 PM
 #10782

But ignoring the advantages of these system IS short sighted... if not Nxt then something else! I for one will continue to hedge my bets and keep looking for the most awesome technology I can find.
Investing in their appcoin is short sighted.

Where they make genuine improvements, copy those improvements and add them to Bitcoin.

Win-win for everybody, except the people who invest in the appcoins.

You've clearly missed the point. Bitcoin was not designed to be an extensible platform, it was designed to be a currency. The two can help each other.
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August 18, 2014, 05:32:28 PM
 #10783

You've clearly missed the point. Bitcoin was not designed to be an extensible platform, it was designed to be a currency. The two can help each other.
You're also missing the point. Incorporating new features into the Bitcoin ecosystem does not require changes to the Bitcoin protocol.

Anything NXT can do, Open-Transactions can do using Bitcoin (or any other curency) as its basis, without requiring any kind of special token.

We know they are the project that is actually trying to solve real problems instead of P&D their appcoin, because they don't have an appcoin.

Also the fact that so many people flock to the appcoin P&D platforms instead of OT shows how much they are interested in solving real problem.
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August 18, 2014, 05:32:49 PM
 #10784

if alts were not in fact a distraction and were not contributing to a zero sum game, then all cryptocurrencies should be falling in lock step.

the fact that alts are falling disproportionately more indicates to me, at least, that alts are in fact a distraction and subtracting from Bitcoin in a zero sum game and are in the process of being flushed.
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August 18, 2014, 05:34:59 PM
 #10785

You've clearly missed the point. Bitcoin was not designed to be an extensible platform, it was designed to be a currency. The two can help each other.
You're also missing the point. Incorporating new features into the Bitcoin ecosystem does not require changes to the Bitcoin protocol.

Anything NXT can do, Open-Transactions can do using Bitcoin (or any other curency) as its basis, without requiring any kind of special token.

We know they are the project that is actually trying to solve real problems instead of P&D their appcoin, because they don't have an appcoin.

Also the fact that so many people flock to the appcoin P&D platforms instead of OT shows how much they are interested in solving real problem.

I've been waiting for and was very excited for Open Transaction too... But where the hell is it? It's been years.
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August 18, 2014, 05:50:40 PM
 #10786

Quote
I've been waiting for and was very excited for Open Transaction too... But where the hell is it? It's been years.

https://www.youtube.com/watch?v=uJKWDC4q5rA
cypherdoc
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August 18, 2014, 05:57:36 PM
 #10787

do students like being entrapped as debt slaves?

justusranvier
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August 18, 2014, 06:05:49 PM
 #10788

do students like being entrapped as debt slaves?
Student loans are the escape route that looks like a trap.

I'm in the middle of a blog post describing exactly how enterprising young people with access to them can use them in that exact manner.
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August 18, 2014, 06:12:50 PM
 #10789

do students like being entrapped as debt slaves?
Student loans are the escape route that looks like a trap.

I'm in the middle of a blog post describing exactly how enterprising young people with access to them can use them in that exact manner.

must involve some sort of default.
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August 18, 2014, 06:18:55 PM
 #10790

must involve some sort of default.
The great trap of humanity is to accept that the ruled should obey completely opposite standards compared to the rulers. It is the source of all evil and most suffering in the world, and it's everywhere.

If unlimited borrowing with no thought of repayment followed by strategic default is acceptable behaviour for governments, and multinational corporations, and central banks, then it's acceptable behaviour for individuals too.

If any of these agencies or their cronies want to contest the ethical nature of such a course, they can lead by example or GTFO.
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August 18, 2014, 06:24:04 PM
 #10791

Quote
I've been waiting for and was very excited for Open Transaction too... But where the hell is it? It's been years.

https://www.youtube.com/watch?v=uJKWDC4q5rA

Very exciting. Looking forward to the eventual release of a more user friendly client. I desperately want voting pools to take over. Nxt multigateway just happens to have the first deployed and in use version of one.
cypherdoc
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August 18, 2014, 06:25:21 PM
 #10792

must involve some sort of default.
The great trap of humanity is to accept that the ruled should obey completely opposite standards compared to the rulers. It is the source of all evil and most suffering in the world, and it's everywhere.

If unlimited borrowing with no thought of repayment followed by strategic default is acceptable behaviour for governments, and multinational corporations, and central banks, then it's acceptable behaviour for individuals too.

If any of these agencies or their cronies want to contest the ethical nature of such a course, they can lead by example or GTFO.

well, you know what they say...you borrow small, the bank owns you.  you borrow big, you own the bank.
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August 18, 2014, 06:33:00 PM
 #10793

if alts were not in fact a distraction and were not contributing to a zero sum game, then all cryptocurrencies should be falling in lock step.

the fact that alts are falling disproportionately more indicates to me, at least, that alts are in fact a distraction and subtracting from Bitcoin in a zero sum game and are in the process of being flushed.

It's not easy to measure that fact without any accepted indexes, but using the indexes I've been calculating, over the last two weeks, alts are down 37-40%, whereas BTC is down about 20% (varies, depending on times of the day, but that's pretty close).

I'm not sure alts are going to be flushed.  In the early twentieth century, there were, believe it or not, more than 1000 automobile manufacturers in the US.  Of course, that was narrowed down to The Big Three with really just a couple of other important players over a 70-80 year period.  My guess is that we'll see a similar winnowing down of alts.

Of course, with auto manufacturing, you've got immense overhead costs.  You've got assets backing up debt.  If a company isn't cutting it, liquidation is imminent.  With cryptos, you can imagine these useless pieces of code floating around and still being listed on exchanges.  There isn't quite as much urgency for a resolution.  So it may NOT be the case that, say, Poloniex is going to end up trading only 5-7 alts. 

But I'd strongly suspect that we will work towards an equilibrium where only a handful of alts matter, and it will be obvious which ones. 
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August 18, 2014, 06:41:56 PM
 #10794

well, you know what they say...you borrow small, the bank owns you.  you borrow big, you own the bank.

Melbustus
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August 18, 2014, 07:03:26 PM
 #10795

...

Looks like cheap coins to me!

I hope it goes lower...nom nom nom.  Grin Grin Grin


Hope you're hungry:


Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
But Bitcointalk & /r/bitcoin are heavily censored. bitco.in/forum, forum.bitcoin.com, and /r/btc are open.
Best info on Casascius coins: http://spotcoins.com/casascius
cypherdoc
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August 18, 2014, 07:09:12 PM
 #10796

...

Looks like cheap coins to me!

I hope it goes lower...nom nom nom.  Grin Grin Grin


Hope you're hungry:



huh?  there's not much there to eat...
wachtwoord
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August 18, 2014, 07:17:46 PM
 #10797

...

Looks like cheap coins to me!

I hope it goes lower...nom nom nom.  Grin Grin Grin


Hope you're hungry:



huh?  there's not much there to eat...

$113M worth is not much?

smoothie
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August 18, 2014, 07:47:12 PM
 #10798

...

Looks like cheap coins to me!

I hope it goes lower...nom nom nom.  Grin Grin Grin


Hope you're hungry:



huh?  there's not much there to eat...

$113M worth is not much?

The perspective is skewed as we are comparing Bitcoin which is over 5 years old to Litecoin which is less than 3 years old. Uneven metric for comparison.

And yes I'm hungry....I smell blood.   Cheesy

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. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
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Melbustus
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August 18, 2014, 07:57:52 PM
 #10799

...
The perspective is skewed as we are comparing Bitcoin which is over 5 years old to Litecoin which is less than 3 years old. Uneven metric for comparison.
...


Invalid. As I noted on page 530:

...
Where was Bitcoin when it was at 2.75 years old?
...


No. You said that further upthread too, and I let you get away with it, but this is the 2nd time, so...no! You cannot compare the time-since-inception independently for each since Bitcoin CREATED the entire crypto-currency ecosystem from scratch and had to fight that nasty battle solo. All cryptos are basically coat-tailing on the interest and groundbreaking that bitcoin has done.

So if Litecoin has any merit at all, it *should* show A LOT more relative interest/market-cap/whatever 2.75yrs into its lifecycle versus bitcoin 2.75yrs in. Litecoin has the benefit of letting something else pioneer the space; and that was the actual hard work.

Using any metric about Litecoin 2.75yrs-in versus Bitcoin 2.75yrs-in in order to supposedly demonstrate some sort of comparative long-run litecoin validity is just broken...


Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
But Bitcointalk & /r/bitcoin are heavily censored. bitco.in/forum, forum.bitcoin.com, and /r/btc are open.
Best info on Casascius coins: http://spotcoins.com/casascius
smoothie
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August 18, 2014, 08:05:33 PM
 #10800

...
The perspective is skewed as we are comparing Bitcoin which is over 5 years old to Litecoin which is less than 3 years old. Uneven metric for comparison.
...


Invalid. As I noted on page 530:

...
Where was Bitcoin when it was at 2.75 years old?
...


No. You said that further upthread too, and I let you get away with it, but this is the 2nd time, so...no! You cannot compare the time-since-inception independently for each since Bitcoin CREATED the entire crypto-currency ecosystem from scratch and had to fight that nasty battle solo. All cryptos are basically coat-tailing on the interest and groundbreaking that bitcoin has done.

So if Litecoin has any merit at all, it *should* show A LOT more relative interest/market-cap/whatever 2.75yrs into its lifecycle versus bitcoin 2.75yrs in. Litecoin has the benefit of letting something else pioneer the space; and that was the actual hard work.

Using any metric about Litecoin 2.75yrs-in versus Bitcoin 2.75yrs-in in order to supposedly demonstrate some sort of comparative long-run litecoin validity is just broken...



Perhaps you are somewhat right but at the same time comparing 5.5 year Bitcoin to less than 3 year old Litecoin is also skewed no matter which way you try to debunk it.

It is the same as trying to compare as I said previously a Bill Gates to a newly created 18 year old millionaire. You can't compare them as one has had much more time and exposure.

As is the same as Bitcoin which has had much more time and exposure.

"scratch and had to fight that nasty battle"?...lol you make as if Bitocin consciously fought anything. Bitcoin is a protocol and payment network and it doesn't have a conscious to "scratch" and "fight" anything.

A math problem does not fight to keep its absolute truth of its value by just being what it is....2 + 2 will always equal 4 and it doesn't have to fight to be anything but 4 as the answer.

Please stop trying to attempt to make Bitcoin out to be a self-conscious system that had to do such things and should be given credit when it also benefited by the exposure it has had and over the time it has been around.

To say otherwise is also a broken argument.  Grin

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                   ²²²                 
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. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
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