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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 1807533 times)
Trader Steve
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"How do you eat an elephant? One bit at a time..."


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September 19, 2014, 12:30:11 PM
 #12361


Steve,

you articulated the most succinct, logical, & pertinent rapid fire explanations of Bitcoin Freedom under time pressure i've ever seen to date.  congratulations. this is a big deal.
+1 to this. You were landing punches every shot you got in spite of them cutting you off every ten words or so. Did you perform any specific preparation for these appearances or are you just a natural at PR?

10,000 hours on BitcoinTalk.org and /r/bitcoin plus no sleep the night before, LOL! Seriously, we have some great minds on these forums and, while we don't always agree on everything, the discussions force us to check our premises and refine or revise our arguments. Thank you guys!
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Melbustus
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September 19, 2014, 01:25:01 PM
 #12362

...
Note that it's not talking about straight population growth, but about the level of economic activity/wealth created per unit time that can theoretically support a given amount of population growth. This is from Bostrom's new "Superintelligence" book: http://www.amazon.com/Superintelligence-Dangers-Strategies-Nick-Bostrom/dp/0199678111

It looks to reference some research? (that little superscript 1 at the end).  It would be nice to know where Nick Bostrom gets these numbers.

Here ya go:


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
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September 19, 2014, 01:28:02 PM
 #12363


Steve,

you articulated the most succinct, logical, & pertinent rapid fire explanations of Bitcoin Freedom under time pressure i've ever seen to date.  congratulations. this is a big deal.
+1 to this. You were landing punches every shot you got in spite of them cutting you off every ten words or so. Did you perform any specific preparation for these appearances or are you just a natural at PR?

10,000 hours on BitcoinTalk.org and /r/bitcoin plus no sleep the night before, LOL! Seriously, we have some great minds on these forums and, while we don't always agree on everything, the discussions force us to check our premises and refine or revise our arguments. Thank you guys!



Nice job... Agree with Cypher and others that you nailed it. Most of the questions they asked you could easily generate hours of discussion; you nailed the near-impossible task of 30-second answers. You should do more speaking/interviews.

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
marcus_of_augustus
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September 19, 2014, 01:36:55 PM
 #12364

reposting here ...

Quote
... there was a network scale attack I pointed out to Gavin and the other devs after observing namecoin network getting "hung" for months by miners joining and leaving en-masse due to mining incentives and price fluctuations ...

if a well-resourced 'dishonest miner' attacker could build up a significant of quantity of mining power and ramp up hash-rate by bringing on-line an ever-increasing amount of compute, selling all btc the whole way and simultaneously drive price lower over the same period, squeezing out 'honest' miners ... then in a final act take all their mining power off-line during a final dump of price then it would leave the network hanging at very low block solving rate (long confirms) waiting forever for the next retargetting and a low price and take a toll on confidence ... the fix was to allow for a 'special' retargetting on the downside if it hasn't happened after a time-out, not just the set 2016 blocks.

devphp
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September 19, 2014, 01:40:26 PM
 #12365

reposting here ...

Quote
... there was a network scale attack I pointed out to Gavin and the other devs after observing namecoin network getting "hung" for months by miners joining and leaving en-masse due to mining incentives and price fluctuations ...

if a well-resourced 'dishonest miner' attacker could build up a significant of quantity of mining power and ramp up hash-rate by bringing on-line an ever-increasing amount of compute, selling all btc the whole way and simultaneously drive price lower over the same period, squeezing out 'honest' miners ... then in a final act take all their mining power off-line during a final dump of price then it would leave the network hanging at very low block solving rate (long confirms) waiting forever for the next retargetting and a low price and take a toll on confidence ... the fix was to allow for a 'special' retargetting on the downside if it hasn't happened after a time-out, not just the set 2016 blocks.

Dogecoin applied this fix months ago Smiley
What's so special about 2016 blocks anyway, why was this number chosen by Satoshi?
marcus_of_augustus
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September 19, 2014, 01:58:48 PM
 #12366

2^11 is 2016?

devphp
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September 19, 2014, 02:00:43 PM
 #12367

2^11 is 2016?

it's 2048 on my calculator )
Peter R
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September 19, 2014, 02:10:57 PM
 #12368

The market cap is now below both "Metcalfe Value" estimates (num TXs  / num addrs)--something that hasn't happened since early 2013.  Note that I'm taking the 7-day moving average of each time series, so the recent drop in price hasn't been fully "averaged in" (i.e., if the price stays low, the divergence between Metcalfe value and market cap will grow).




Run Bitcoin Unlimited (www.bitcoinunlimited.info)
cypherdoc
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September 19, 2014, 02:12:35 PM
 #12369

Konrad Graf's latest:

http://konradsgraf.squarespace.com/blog1/2014/9/19/bitcoin-magic-fraud-or-sufficiently-advanced-technology.html
ShroomsKit_Disgrace
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September 19, 2014, 02:17:04 PM
 #12370


Sell it. Piece of crap you have there.
marcus_of_augustus
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September 19, 2014, 02:20:38 PM
 #12371


 Cheesy

edit:

2^11 - 2^5

justusranvier
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September 19, 2014, 02:23:14 PM
 #12372

2016 is 2048 after an integer overflow.
ShroomsKit_Disgrace
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September 19, 2014, 02:40:49 PM
 #12373


It is also the year when 1BTC = 1million $.  Wink
cypherdoc
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September 19, 2014, 02:56:43 PM
 #12374

let me emphasize this point once again.

as long as gold and silver are falling, there is no reason you should be selling your Bitcoin.
cypherdoc
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September 19, 2014, 02:58:29 PM
 #12375

silver criticality incoming.

first critical breach is $19 for psychological reasons.  then 18.70, finally 18.17.

first breach accomplished

second breach accomplished

third breach accomplished.

Mission complete.
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September 19, 2014, 02:59:38 PM
 #12376

ugly, just ugly:

cypherdoc
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September 19, 2014, 03:01:14 PM
 #12377

gold sliding down the mountain.  soon to go over the cliff following silver:

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September 19, 2014, 03:04:55 PM
 #12378

miners still look like crap:

GDX:



GDXJ:

cypherdoc
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September 19, 2014, 03:08:15 PM
 #12379

since everyone prefers things that go UP, here are my double shorts.  thank gaud for them to help blunt this Bitcoin dip:



notice how ZSL has blown thru two resistance levels today. yowser!:

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September 19, 2014, 03:14:26 PM
 #12380

i know everyone's feeling bad right about now with this relentless pullback but i strongly believe Bitcoin is going to start diverging UP inversely from gold very soon.  in the big fractal of the Bitcoin price chart, we look to be completing the retest of the initial low @339.  the bounce should begin:

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