Bitcoin Forum
December 05, 2016, 06:55:30 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Poll
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

Pages: « 1 ... 699 700 701 702 703 704 705 706 707 708 709 710 711 712 713 714 715 716 717 718 719 720 721 722 723 724 725 726 727 728 729 730 731 732 733 734 735 736 737 738 739 740 741 742 743 744 745 746 747 748 [749] 750 751 752 753 754 755 756 757 758 759 760 761 762 763 764 765 766 767 768 769 770 771 772 773 774 775 776 777 778 779 780 781 782 783 784 785 786 787 788 789 790 791 792 793 794 795 796 797 798 799 ... 1560 »
  Print  
Author Topic: Gold collapsing. Bitcoin UP.  (Read 1804729 times)
Adrian-x
Legendary
*
Offline Offline

Activity: 1330



View Profile
October 30, 2014, 07:10:56 AM
 #14961

I consider another flaw in your argument to be your casual dismissal of the force of arbitrage.

IF the whale has indeed identified a SC with a true innovation, he's in good shape jumping in first.  as everyone starts following, including miners willing to primarily mine the SC for its sidecoin and scBTC, Bitcoin MC could become MM'd and thus weaker from a security standpoint.  if that happens, the BTC price could be expected to drop below the scBTC price as the situation has now flipped from what it was prior to the SC takeover.  that's where the stragglers could get caught on the MC as 51% attacks could be levied to block SPV proof formation.

This is the economic speculation forum after all. I don't even need "a hypothetical" SC whale jumping in to see the above come to be. The scenario above is exactly what will come to play and how Blockstream’s cronies make a killing. Blockstream may have access to a mining operation or could pre buy mining contract to execute the above plan by paying above market rates for mining contracts prior to releasing there reward scheme for there SC. If they could get hold of a note worthy amount of mining contracts (keep in mind at today's exchange at least 50% of it will likely be defunct in 2 years due to halving) with a SC with a 1:1 peg could could do this by:

1. Offsetting the mining rewards with Bitcoins diminishing reward at the protocol level .
2. MM SC
3. Exchanging MM SC for BTC.
4. Short BTC for USD and buying SC with USD.
5. Create an arbitrage opportunity for BTC holders and proponents who supply more BTC to short.
6. Rinse and repeat.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
1480964130
Hero Member
*
Offline Offline

Posts: 1480964130

View Profile Personal Message (Offline)

Ignore
1480964130
Reply with quote  #2

1480964130
Report to moderator
1480964130
Hero Member
*
Offline Offline

Posts: 1480964130

View Profile Personal Message (Offline)

Ignore
1480964130
Reply with quote  #2

1480964130
Report to moderator
1480964130
Hero Member
*
Offline Offline

Posts: 1480964130

View Profile Personal Message (Offline)

Ignore
1480964130
Reply with quote  #2

1480964130
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480964130
Hero Member
*
Offline Offline

Posts: 1480964130

View Profile Personal Message (Offline)

Ignore
1480964130
Reply with quote  #2

1480964130
Report to moderator
cbeast
Donator
Legendary
*
Offline Offline

Activity: 1722

Let's talk governance, lipstick, and pigs.


View Profile
October 30, 2014, 07:18:39 AM
 #14962

Doge's Law: If cryptocurrency is open source and it is successful then it will be memed.

I think SCs will be cloned to death. There will be no incentive for a whale to corner an SC that he cannot build and market himself.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
smooth
Legendary
*
Offline Offline

Activity: 1246



View Profile
October 30, 2014, 07:28:32 AM
 #14963

Doge's Law: If cryptocurrency is open source and it is successful then it will be memed.

I think SCs will be cloned to death. There will be no incentive for a whale to corner an SC that he cannot build and market himself.

Except that DOGE hasn't been successfully cloned (and many have tried). Memes are marketing. Good marketing is hard and not obviously replicable.

cbeast
Donator
Legendary
*
Offline Offline

Activity: 1722

Let's talk governance, lipstick, and pigs.


View Profile
October 30, 2014, 07:33:34 AM
 #14964

Doge's Law: If cryptocurrency is open source and it is successful then it will be memed.

I think SCs will be cloned to death. There will be no incentive for a whale to corner an SC that he cannot build and market himself.

Except that DOGE hasn't been successfully cloned (and many have tried). Memes are marketing. Good marketing is hard and not obviously replicable.


Doge isn't successful. It is the meme inspired by Bitcoin. Doge shows that marketing gives the perception of success. Success is measured by the fear it produces. Only Bitcoin is feared by presidents and kings. The presidents and kings will try to clone SCs where they failed to clone Bitcoin successfully. They will use "Doge style" marketing to pump their SC clones.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
Decksperiment
Sr. Member
****
Offline Offline

Activity: 308


Uniting the Power of Sound & Ceation


View Profile
October 30, 2014, 07:36:03 AM
 #14965

When Bitcoin goes up in price and all you have is Gold which apparently no-one want's.. to buy bitcoin, you know the gov want's their gold back.. figure it out..

BTC: 1654DECHaU4QyYXom9ooRBvt2zmULR3MfZ
hardhouseinc
Sr. Member
****
Offline Offline

Activity: 304


View Profile
October 30, 2014, 07:40:20 AM
 #14966

I love coming back here every time I see the BTC price slip more and more but
the people here still are convinced gold is doomed.  LOL.
smooth
Legendary
*
Offline Offline

Activity: 1246



View Profile
October 30, 2014, 07:52:34 AM
 #14967

Doge's Law: If cryptocurrency is open source and it is successful then it will be memed.

I think SCs will be cloned to death. There will be no incentive for a whale to corner an SC that he cannot build and market himself.

Except that DOGE hasn't been successfully cloned (and many have tried). Memes are marketing. Good marketing is hard and not obviously replicable.


Doge isn't successful. It is the meme inspired by Bitcoin. Doge shows that marketing gives the perception of success. Success is measured by the fear it produces. Only Bitcoin is feared by presidents and kings. The presidents and kings will try to clone SCs where they failed to clone Bitcoin successfully. They will use "Doge style" marketing to pump their SC clones.

You are missing the point. Once it is successfully memed then it can't be cloned to death. There will be many tries, but at some point one will dominate and then future meme clones will just fail. That's what happened after DOGE took off. There were cat coins, rapper coins, and all sorts of dumb attempts to clone it. They went nowhere. A year later DOGE is now #3 out of 1000+.





devphp
Sr. Member
****
Offline Offline

Activity: 336


View Profile
October 30, 2014, 07:55:53 AM
 #14968

I love coming back here every time I see the BTC price slip more and more but
the people here still are convinced gold is doomed.  LOL.

They are convinced anything but Bitcoin is doomed. Even Doge is bad now, and it's as pure PoW as could be, wtf, I understand PoS worries as PoS requires a paradigm shift in thinking but Doge?

Blind bias hasn't ever got anyone very far, I guess they're soon to find that out from personal experience, and learn that diversification is the name of the game.
cbeast
Donator
Legendary
*
Offline Offline

Activity: 1722

Let's talk governance, lipstick, and pigs.


View Profile
October 30, 2014, 08:46:20 AM
 #14969

Doge's Law: If cryptocurrency is open source and it is successful then it will be memed.

I think SCs will be cloned to death. There will be no incentive for a whale to corner an SC that he cannot build and market himself.

Except that DOGE hasn't been successfully cloned (and many have tried). Memes are marketing. Good marketing is hard and not obviously replicable.


Doge isn't successful. It is the meme inspired by Bitcoin. Doge shows that marketing gives the perception of success. Success is measured by the fear it produces. Only Bitcoin is feared by presidents and kings. The presidents and kings will try to clone SCs where they failed to clone Bitcoin successfully. They will use "Doge style" marketing to pump their SC clones.

You are missing the point. Once it is successfully memed then it can't be cloned to death. There will be many tries, but at some point one will dominate and then future meme clones will just fail. That's what happened after DOGE took off. There were cat coins, rapper coins, and all sorts of dumb attempts to clone it. They went nowhere. A year later DOGE is now #3 out of 1000+.











You obviously don't understand memes. I'm not hating doggie, it's funny and the press can't hate bitcoin and love doggies. It serves the purpose of being Bitcoin's fool. Every doge has its day. It's a great gimmick. They can't copy a caricature because then it just shows you have no imagination.











Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
o0‡0o
Full Member
***
Offline Offline

Activity: 148


How much did it cost to make, nothing & you paid??


View Profile
October 30, 2014, 09:10:06 AM
 #14970

I love coming back here every time I see the BTC price slip more and more but
the people here still are convinced gold is doomed.  LOL.

They are convinced anything but Bitcoin is doomed. Even Doge is bad now, and it's as pure PoW as could be, wtf, I understand PoS worries as PoS requires a paradigm shift in thinking but Doge?

Blind bias hasn't ever got anyone very far, I guess they're soon to find that out from personal experience, and learn that diversification is the name of the game.
PoS is something you end up with when the thinking is left to the Horses because they have bigger heads. If you pay thousand and thousands of percent over making cost you get ripped off no if or buts. If a pencil manufacturer making only one million of a particular pencil and then sell it at 10000% of cost would anyone buy it? Why not after all its "rare" and limited.  If demand at first is sluggish marketing to the right people in bitcointalk altcoin section will drive demand skyhigh, this would be considered bargain of the year and enthusiastically snapped up with only 10000% mark-up.
To generate a bitcoin is somewhat akin to generating electric and takes work (effort).
In the crypto world there are a lot of charlatans, XRP is a prime example, banks are given millions for free and you can buy them.
When will established business get wind of this new way of making tons of money?

If you pay massive % over cost you get ripped off
cbeast
Donator
Legendary
*
Offline Offline

Activity: 1722

Let's talk governance, lipstick, and pigs.


View Profile
October 30, 2014, 09:15:15 AM
 #14971

[
When will established business get wind of this new way of making tons of money?

Dear Gov't,
Businesses need money. Give us some.
Thanks bye.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
October 30, 2014, 11:52:31 AM
 #14972

Speaking of gvts, no one has bothered to address my non economic malicious  attack by a gvt i outlined days ago.

Right now the most the gvt could do with their 143000 BTC address is sell it to another BTC buyer. Now, with SC's, you're handing them an opportunity to boot strap a new currency on their own terms, while at the same time offering them a risk free put. And don't expect them to tell you ahead of time. They'll be smart enough to slowly infuse the SC to create a  perception of market demand. Ask yourself how would you feel seeing at least 143000 BTC show up on a SC in staccato fashion over a period of a year accompanied by other speculative follow on scBTC?

But maybe that is the plan all along;  make a killing along side a gvt.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
October 30, 2014, 12:29:30 PM
 #14973

Ok, now I'm on a roll. Here's your solution to arb bots.

Gvt says  to their lover Wall Street, "how would you like to destroy Bitcoin? I'm gonna slowly infuse 143000 btc into SC inflatacoin. You keep buying the new scBTC on the other side of the peg on the exchange. This is your chance to be the early adopters without having to pay off all those geeks or put them in control. But get some for us too while you're at it cuz we wanna get rich too. Just keep buying. And if you need to just keep printing whatever it takes to drive the price. Eventually we'll get a run."
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
October 30, 2014, 01:17:20 PM
 #14974

Actually, in the above gvt attack scenario,  arb bots help funnel BTC to scBTC faster thus increasing the speed at which the SC gains dominance.
brg444
Hero Member
*****
Offline Offline

Activity: 630

Bitcoin replaces central, not commercial, banks


View Profile
October 30, 2014, 01:37:29 PM
 #14975

Ok, now I'm on a roll. Here's your solution to arb bots.

 Cheesy

stop it. I'm saying it in the most friendly way, what you are doing is not healthy, you are simply trying too hard.

you can carry on. but you might as well create a thread. your infatuation for SC doomsday scenario is taking too much place in this thread, as others have mentioned (I recognize I am also guilty of entertaining this back n forth)

i appreciate and enjoy your market analysis pertaining to this thread's original topic so lets go back to that. if you create a different thread where you can sum up your scenarios for SC attacks and update your theory (which changes daily) I may discuss it there but from now on let's try and keep it on topic

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
justusranvier
Legendary
*
Offline Offline

Activity: 1400



View Profile WWW
October 30, 2014, 01:39:18 PM
 #14976

Actually, in the above gvt attack scenario,  arb bots help funnel BTC to scBTC faster thus increasing the speed at which the SC gains dominance.
Speaking of government attack scenarios, BitPay just hired Emperor Palpatine:

brg444
Hero Member
*****
Offline Offline

Activity: 630

Bitcoin replaces central, not commercial, banks


View Profile
October 30, 2014, 01:42:43 PM
 #14977

Actually, in the above gvt attack scenario,  arb bots help funnel BTC to scBTC faster thus increasing the speed at which the SC gains dominance.
Speaking of government attack scenarios, BitPay just hired Emperor Palpatine:



this guy is a trojan horse and doesn't even know it  Cool

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
cbeast
Donator
Legendary
*
Offline Offline

Activity: 1722

Let's talk governance, lipstick, and pigs.


View Profile
October 30, 2014, 01:57:25 PM
 #14978

Actually, in the above gvt attack scenario,  arb bots help funnel BTC to scBTC faster thus increasing the speed at which the SC gains dominance.
Speaking of government attack scenarios, BitPay just hired Emperor Palpatine:



this guy is a trojan horse and doesn't even know it  Cool
I doubt we hear anything from him. That's what scare me.   Wink

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
sickpig
Legendary
*
Offline Offline

Activity: 1106


View Profile
October 30, 2014, 02:13:19 PM
 #14979

fwiw Matt Corallo's "A look at a few Questions and Misconceptions regarding Pegged Sidechains"

http://www.blockstream.com/2014/10/30/a-look-at-a-few-questions-and-misconceptions-for-pegged-sidechains/

Bitcoin is a participatory system which ought to respect the right of self determinism of all of its users - Gregory Maxwell.
justusranvier
Legendary
*
Offline Offline

Activity: 1400



View Profile WWW
October 30, 2014, 02:15:55 PM
 #14980

Actually, in the above gvt attack scenario,  arb bots help funnel BTC to scBTC faster thus increasing the speed at which the SC gains dominance.
Speaking of government attack scenarios, BitPay just hired Emperor Palpatine:



this guy is a trojan horse and doesn't even know it  Cool
I doubt we hear anything from him. That's what scare me.   Wink
Always two there are, a master and an apprentice.
Pages: « 1 ... 699 700 701 702 703 704 705 706 707 708 709 710 711 712 713 714 715 716 717 718 719 720 721 722 723 724 725 726 727 728 729 730 731 732 733 734 735 736 737 738 739 740 741 742 743 744 745 746 747 748 [749] 750 751 752 753 754 755 756 757 758 759 760 761 762 763 764 765 766 767 768 769 770 771 772 773 774 775 776 777 778 779 780 781 782 783 784 785 786 787 788 789 790 791 792 793 794 795 796 797 798 799 ... 1560 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!