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Author Topic: Gold collapsing. Bitcoin UP.  (Read 2022643 times)
_mr_e
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October 02, 2014, 04:40:58 PM
 #13141

Oh man, what a joker: http://www.abc.net.au/news/2014-10-02/extended-interview-with-jeffrey-robinson/5787140
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cypherdoc
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October 02, 2014, 05:27:21 PM
 #13142


that was bad.

another layman who's swallowed the "blockchain is great, the currency is bad" meme of Andreas, et al.

they are inextricably linked.
thezerg
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October 02, 2014, 05:50:10 PM
 #13143

So in practice it solves 99.99% of the problem

by "it", do you mean the timeclock?

Yes.  A semi-reliable time allows a bunch of entities to collectively decide that another entity is "dead".  This makes non-Byzantine distributed consensus easy (by non-Byzantine, I mean it handles "normal" failures -- node death, network split -- but not pathological cases where a node is deliberately trying to break the election).  This is all that is needed for distributed consensus in most tightly coupled distributed systems.

EDIT: I want to say one more thing about this which is about physics. 

The BGP and Bitcoin's solution problem is fascinating because there are parallels with quantum mechanics which is also incapable of making a decision.  Particles are modeled as probability fields until that is collapsed by observation.  Block/txn validity is probabilistic and collapsed by work (building on the chain).   

But another way to think of that collapse is simply that you have been incorporated into a specific case in the probability field but an outside observer is now unaware of your state (schrodinger's cat).  From the outside observer's case, the probability field still exists; you are just now part of it.

So the universe only has state because it observes itself.  Bitcoin is the same... it only has state (validated txns) in the eyes of observers within the system.

oda.krell
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October 02, 2014, 06:06:01 PM
 #13144

So in practice it solves 99.99% of the problem

by "it", do you mean the timeclock?

Yes.  A semi-reliable time allows a bunch of entities to collectively decide that another entity is "dead".  This makes non-Byzantine distributed consensus easy (by non-Byzantine, I mean it handles "normal" failures -- node death, network split -- but not pathological cases where a node is deliberately trying to break the election).  This is all that is needed for distributed consensus in most tightly coupled distributed systems.

Very interesting post.

Question: would the problem of the time interval case you describe (with an imprecise time signal) possibly be solvable by having the clients decide on a time to accept the block in the form of a probability distribution, peaking around the agreed upon time point? that way, assuming a majority of clients would use that rule, we could assume a majority of clients would accept the block issued *around* time E, even if it is not issued at the *exact* time.

Not sure which Bitcoin wallet to use? I suggest to take a look at Electrum.
Electrum is an open-source lightweight client: user friendly, fast, and one of the safest ways to store, send or receive bitcoins.
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justusranvier
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October 02, 2014, 06:07:18 PM
 #13145

This is all that is needed for distributed consensus in most tightly coupled distributed systems.
Maybe this would be better written as: "This is all that is needed for consensus in systems where one entity exercises control over all portions of the distributed system."

When Amazon builds a distributed system where they own all the pieces, that's one problem.

When a group of independent actors are trying to build a distributed system to agree on something, when anyone is free to join or depart at any time, and no actors may be treated as privileged or trusted, the problem is just a little bit harder.
iCEBREAKER
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WARNING FOR NOOBS: Dash is an Instamined scam coin


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October 02, 2014, 09:36:00 PM
 #13146

Quote
BREAKING: JPMorgan says data breach affects 76 million households, 7 million businesses



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Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
Buy and sell XMR near you
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Buy XMR with fiat
cypherdoc
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October 02, 2014, 09:46:30 PM
 #13147

forming a base...
statdude
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October 02, 2014, 10:00:49 PM
 #13148

Anyone have any good links to Metcalfs law vs btc price?

What is the downride risk of a decrease in adoption transactions?

                ▄▄▄▄▄▄▄▄               
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Peter R
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October 02, 2014, 10:08:36 PM
 #13149

Anyone have any good links to Metcalfs law vs btc price?

What is the downride risk of a decrease in adoption transactions?

Here's the latest graphs (just made now).




Run Bitcoin Unlimited (www.bitcoinunlimited.info)
cypherdoc
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October 02, 2014, 10:42:56 PM
 #13150

Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don’t have to be physically in the same place and of course for large transactions currency can get pretty inconvenient. The customers we’re talking about aren’t trying to be anonymous. You know they’re willing to be known so the Bitcoin technology is key and you could add to it or you could build a similar technology where there’s enough attribution that people feel comfortable this is nothing to do with terrorism or any type of money laundering.

don't hold your breath Bill.  part of the reason Bitcoin has such a large mining/security contingent is b/c of the privacy or pseudonymity it offers:

http://www.bloomberg.com/video/bill-gates-bitcoin-is-exciting-because-it-s-cheap-dQ4qHV4~TLSnUIuIRfZBVA.html
Odalv
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October 02, 2014, 11:00:43 PM
 #13151

Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don’t have to be physically in the same place and of course for large transactions currency can get pretty inconvenient. The customers we’re talking about aren’t trying to be anonymous. You know they’re willing to be known so the Bitcoin technology is key and you could add to it or you could build a similar technology where there’s enough attribution that people feel comfortable this is nothing to do with terrorism or any type of money laundering.

don't hold your breath Bill.  part of the reason Bitcoin has such a large mining/security contingent is b/c of the privacy or pseudonymity it offers:

http://www.bloomberg.com/video/bill-gates-bitcoin-is-exciting-because-it-s-cheap-dQ4qHV4~TLSnUIuIRfZBVA.html

I'm sure he is bitcoin supporter.
mr.coinstrader
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October 03, 2014, 04:27:43 AM
 #13152

I was wondering if it  a good time to invest a few bucks on bitcoins
right now ? ... The bitcoin price is stable in moment
solex
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100 satoshis -> ISO code


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October 03, 2014, 04:33:45 AM
 #13153

I was wondering if it  a good time to invest a few bucks on bitcoins
right now ? ... The bitcoin price is stable in moment

Put it this way. Has there been a better time to buy in 2014? Isn't the Bitcoin ecosystem bigger and stronger now than at the start of the year?

boumalo
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October 03, 2014, 05:32:37 AM
 #13154

I was wondering if it  a good time to invest a few bucks on bitcoins
right now ? ... The bitcoin price is stable in moment

Put it this way. Has there been a better time to buy in 2014? Isn't the Bitcoin ecosystem bigger and stronger now than at the start of the year?

It is not about the price being stable it is about Bitcoin being stronger and bigger while the price is very low relatively to the average price for the last 10months

klee
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October 03, 2014, 07:35:03 AM
 #13155

Bitcoin is art, check this out:

http://www.ft.com/cms/s/2/933b4e62-f824-11df-8875-00144feab49a.html#axzz3F45k5w30

 Roll Eyes
wachtwoord
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October 03, 2014, 08:55:07 AM
 #13156


Well .... art is overvalued. Especially those artworks made by the most famous of artists. I'll take a double spend (copy Wink any day.

I don't want a copy of a Bitcoin Wink
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October 03, 2014, 09:39:45 AM
 #13157


Well .... art is overvalued. Especially those artworks made by the most famous of artists. I'll take a double spend (copy Wink any day.

I don't want a copy of a Bitcoin Wink

Agreed
Hunyadi
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☑ ♟ ☐ ♚


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October 03, 2014, 10:17:25 AM
 #13158

https://www.youtube.com/watch?v=oyrOaNH4PUs&feature=youtu.be

This video makes me feel sad. "Separate blockchain and bitcoin"...c'mon.

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hdbuck
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October 03, 2014, 12:39:29 PM
 #13159

NED DAVIS: Gold Will Plunge To $660

http://www.businessinsider.com/gold-is-going-to-660-an-ounce-strategist-says-2014-10

ready to scoop some cheap gold? ^^
DeadCoin
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October 03, 2014, 12:59:42 PM
 #13160

NED DAVIS: Gold Will Plunge To $660

http://www.businessinsider.com/gold-is-going-to-660-an-ounce-strategist-says-2014-10

ready to scoop some cheap gold? ^^

Possible. This guy had been calling that since 2011:

http://www.youtube.com/watch?v=eoWCZtsV4ls

So far, it seems they're right.

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