Bitcoin Forum
May 24, 2017, 11:43:56 PM *
News: If the forum does not load normally for you, please send me a traceroute.
 
   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 ... 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] 782 783 784 785 786 787 788 789 790 791 792 793 794 795 796 797 798 799 800 801 802 803 804 805 806 807 808 809 810 811 812 813 814 815 816 817 818 819 820 821 822 823 824 825 826 827 828 829 830 831 ... 1559 »
  Print  
Author Topic: Gold collapsing. Bitcoin UP.  (Read 1902903 times)
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
November 04, 2014, 11:54:06 AM
 #15601

Now, I'm getting paranoid. :-)

SC's architecture:

<bitcoin>
   <us-govSC>
       <govscBTC />
       <govscUSD />

       <exchangeSC>
          <mergerSC />
       </exchange>

   </gowSC>
  
   <china-govSC />
  
   <!-- wild-wild-west  -->
   <exchangeSC>
         <mergerSC />
   </exchange>

</bitcoin>

govSC is asymetric 2wp => GOV can veto if you can go in/out
all govSC are secured by GOV mining HW (cetralized servers)

What a shitfest.  This is precisely the problem we have today with altcoins multiplied by a thousand.
1495669436
Hero Member
*
Offline Offline

Posts: 1495669436

View Profile Personal Message (Offline)

Ignore
1495669436
Reply with quote  #2

1495669436
Report to moderator
POLONIEX TRADING SIGNALS
+50% Profit and more via TELEGRAM
ALTCOINTRADER.CO
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1495669436
Hero Member
*
Offline Offline

Posts: 1495669436

View Profile Personal Message (Offline)

Ignore
1495669436
Reply with quote  #2

1495669436
Report to moderator
1495669436
Hero Member
*
Offline Offline

Posts: 1495669436

View Profile Personal Message (Offline)

Ignore
1495669436
Reply with quote  #2

1495669436
Report to moderator
Odalv
Legendary
*
Offline Offline

Activity: 1120



View Profile
November 04, 2014, 01:47:16 PM
 #15602


What a shitfest.  This is precisely the problem we have today with altcoins multiplied by a thousand.

lol, do not worry. You will able to use ALL NEW services without transferring cold-wallet back and forth.

SC is pattern how to secure keep your bitcoins in escrow on MC. While you are able to safe(b/c you own pKeys) use exchangeBTC in mergerSC for trading.

bitcoin {
  exchange {
      merger
  }
}

exchangeBTC is not new ALTcoin it is your new privateKey what can unlock BTC on MC (or parent chain).
sickpig
Legendary
*
Offline Offline

Activity: 1162


View Profile
November 04, 2014, 01:53:47 PM
 #15603

another Adam Back's contribute to the SC debate Smiley

https://twitter.com/adam3us/status/529599284065615872
https://bitcointalk.org/index.php?topic=831527.msg9433219#msg9433219


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

Activity: 1148


Gresham's Lawyer


View Profile WWW
November 04, 2014, 02:52:52 PM
 #15604

Now, I'm getting paranoid. :-)

SC's architecture:

<bitcoin>
   <us-govSC>
       <govscBTC />
       <govscUSD />

       <exchangeSC>
          <mergerSC />
       </exchange>

   </gowSC>
  
   <china-govSC />
  
   <!-- wild-wild-west  -->
   <exchangeSC>
         <mergerSC />
   </exchange>

</bitcoin>

govSC is asymetric 2wp => GOV can veto if you can go in/out
all govSC are secured by GOV mining HW (cetralized servers)

What a shitfest.  This is precisely the problem we have today with altcoins multiplied by a thousand.

Think of it, govSC may use compromised cryptographic primitives giving them a back door on all the money.
Then they essentially own key escrow on all the coins and can also automatically tax them as needed.  Seize criminal assets etc.
That pretty much solves all the government's problems.

FREE MONEY1 Bitcoin for Silver and Gold NewLibertyDollar.com and now BITCOIN SPECIE (silver 1 ozt) shows value by QR
Bulk premiums as low as .0012 BTC "BETTER, MORE COLLECTIBLE, AND CHEAPER THAN SILVER EAGLES" 1Free of Government
Odalv
Legendary
*
Offline Offline

Activity: 1120



View Profile
November 04, 2014, 03:08:42 PM
 #15605


Think of it, govSC may use compromised cryptographic primitives giving them a back door on all the money.
Then they essentially own key escrow on all the coins and can also automatically tax them as needed.  Seize criminal assets etc.
That pretty much solves all the government's problems.

I agree with you. I'll not keep my BTC in govSC. But I would rather trade on gov secured exchange than on MtGox.
If SC are implemented in Bitcoin then Bitcoin is my first choice.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
November 04, 2014, 03:08:44 PM
 #15606

scenario:  SC + sidecoin + innovation faster tx times + MM + scBTC

is it possible for scBTC to take advantage of the innovation faster tx times or is that impossible b/c the SC MM is specific to sidecoin?
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
November 04, 2014, 03:10:15 PM
 #15607


Think of it, govSC may use compromised cryptographic primitives giving them a back door on all the money.
Then they essentially own key escrow on all the coins and can also automatically tax them as needed.  Seize criminal assets etc.
That pretty much solves all the government's problems.

I agree with you. I'll not keep my BTC in govSC. But I would rather trade on gov secured exchange than on MtGox.
If SC are implemented in Bitcoin then Bitcoin is my first choice.

what's your answer again to the argument that all these billions of SC's are stealing tx fees away from Bitcoin miners?
Odalv
Legendary
*
Offline Offline

Activity: 1120



View Profile
November 04, 2014, 03:20:35 PM
 #15608

scenario:  SC + sidecoin + innovation + MM + scBTC

is it possible for scBTC to take advantage of the innovation or is that impossible b/c the SC MM is specific to sidecoin?

I do not understand how creating more units (sidecoin) can be advantage.
I think SC + innovation + scBTC is better chain.  And if it is better than MC then innovation will be implemented into MC.
NewLiberty
Legendary
*
Offline Offline

Activity: 1148


Gresham's Lawyer


View Profile WWW
November 04, 2014, 03:21:37 PM
 #15609


Think of it, govSC may use compromised cryptographic primitives giving them a back door on all the money.
Then they essentially own key escrow on all the coins and can also automatically tax them as needed.  Seize criminal assets etc.
That pretty much solves all the government's problems.

I agree with you. I'll not keep my BTC in govSC. But I would rather trade on gov secured exchange than on MtGox.
If SC are implemented in Bitcoin then Bitcoin is my first choice.

Exchange security doesn't require a government though... because multikey cryptography, or things like the Counterparty DEX.  So its a false dichotomy in either gov secured exchange vs MtGox.

FREE MONEY1 Bitcoin for Silver and Gold NewLibertyDollar.com and now BITCOIN SPECIE (silver 1 ozt) shows value by QR
Bulk premiums as low as .0012 BTC "BETTER, MORE COLLECTIBLE, AND CHEAPER THAN SILVER EAGLES" 1Free of Government
NewLiberty
Legendary
*
Offline Offline

Activity: 1148


Gresham's Lawyer


View Profile WWW
November 04, 2014, 03:25:51 PM
 #15610

scenario:  SC + sidecoin + innovation + MM + scBTC

is it possible for scBTC to take advantage of the innovation or is that impossible b/c the SC MM is specific to sidecoin?

I do not understand how creating more units (sidecoin) can be advantage.
I think SC + innovation + scBTC is better chain.  And if it is better than MC then innovation will be implemented into MC.

Except that we know from experience that this is not true.  MC ossifies or has unbreakable social contracts, so better doesn't get implemented into MC.

Instead what SC offers is that MC may 95% migrate to it and leave behind those that don't agree that the change is better.

FREE MONEY1 Bitcoin for Silver and Gold NewLibertyDollar.com and now BITCOIN SPECIE (silver 1 ozt) shows value by QR
Bulk premiums as low as .0012 BTC "BETTER, MORE COLLECTIBLE, AND CHEAPER THAN SILVER EAGLES" 1Free of Government
cbeast
Donator
Legendary
*
Offline Offline

Activity: 1722

Let's talk governance, lipstick, and pigs.


View Profile
November 04, 2014, 03:27:29 PM
 #15611

what's your answer again to the argument that all these billions of SC's are stealing tx fees away from Bitcoin miners?
Are you concerned about revenue or block size? Isn't the point of SCs to allow Bitcoin to scale by mitigating its transactions through other chains?

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

Activity: 1120



View Profile
November 04, 2014, 03:28:03 PM
 #15612


Think of it, govSC may use compromised cryptographic primitives giving them a back door on all the money.
Then they essentially own key escrow on all the coins and can also automatically tax them as needed.  Seize criminal assets etc.
That pretty much solves all the government's problems.

I agree with you. I'll not keep my BTC in govSC. But I would rather trade on gov secured exchange than on MtGox.
If SC are implemented in Bitcoin then Bitcoin is my first choice.

what's your answer again to the argument that all these billions of SC's are stealing tx fees away from Bitcoin miners?

win:win
Smaller MC -> save resources. There are a lot thing  SC cannot do.
1. create new BTC
2. change amount of BTC in SC.

And there will be thousands SC (every company can have 1 SC for internal accounting, and 1 for public btcShares)
A lot of transactions for MC :-)

This SC transaction(IN/OUT rebalacing) will cost more. (they will be bigger)

Transaction fee per block is around 0.15 BTC now. No big deal for miners compared to 25 BTC (12.5 BTC, 6.75 BTC ... )
NewLiberty
Legendary
*
Offline Offline

Activity: 1148


Gresham's Lawyer


View Profile WWW
November 04, 2014, 03:30:53 PM
 #15613

Transaction fee per block is around 0.15 BTC now. No big deal for miners compared to 25 BTC (12.5 BTC, 6.75 BTC ... )
I think we all agree that NOW is not the basis of this concern.

FREE MONEY1 Bitcoin for Silver and Gold NewLibertyDollar.com and now BITCOIN SPECIE (silver 1 ozt) shows value by QR
Bulk premiums as low as .0012 BTC "BETTER, MORE COLLECTIBLE, AND CHEAPER THAN SILVER EAGLES" 1Free of Government
justusranvier
Legendary
*
Offline Offline

Activity: 1400



View Profile WWW
November 04, 2014, 03:34:03 PM
 #15614

Isn't the point of SCs to allow Bitcoin to scale by mitigating its transactions through other chains?
if that is the point, it won't work.

Sidechains only have SPV security. If the entire main chain network does not validate a particular sidechain, then the resources required to produce fraudulent SPV proofs that redeem sidechains units for locked bitcoin are fewer.

If every node in the main chain network needs to watch every sidechain, there is no scalability improvement.

If every node on the main chain network does not watch every sidechain, then the security of the sidechains is low.
Adrian-x
Legendary
*
Offline Offline

Activity: 1358



View Profile
November 04, 2014, 03:36:39 PM
 #15615


I'm sure that OT is SC (it looks to me as Federated 2-way-peg)

Different in many ways but the fundamental difference is that you don't need to change the Bitcoin protocol. And MM is not logical step in the evolution.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
Odalv
Legendary
*
Offline Offline

Activity: 1120



View Profile
November 04, 2014, 03:37:02 PM
 #15616

Transaction fee per block is around 0.15 BTC now. No big deal for miners compared to 25 BTC (12.5 BTC, 6.75 BTC ... )
I think we all agree that NOW is not the basis of this concern.

I cannot imagine that there will ever exist somebody who can hold 1 copy of all world transactions. (if bitcoin is used by everyone)  and to keep bitcoin decentralized you need at least 5 copies. (100,000 copies is better :-) )
NewLiberty
Legendary
*
Offline Offline

Activity: 1148


Gresham's Lawyer


View Profile WWW
November 04, 2014, 03:43:04 PM
 #15617

I cannot imagine that there will ever exist somebody who can hold 1 copy of all world transactions. (if bitcoin is used by everyone)  and to keep bitcoin decentralized you need at least 5 copies. (100,000 copies is better :-) )

If this were desired, what would prevent it?

FREE MONEY1 Bitcoin for Silver and Gold NewLibertyDollar.com and now BITCOIN SPECIE (silver 1 ozt) shows value by QR
Bulk premiums as low as .0012 BTC "BETTER, MORE COLLECTIBLE, AND CHEAPER THAN SILVER EAGLES" 1Free of Government
Adrian-x
Legendary
*
Offline Offline

Activity: 1358



View Profile
November 04, 2014, 03:45:28 PM
 #15618

scenario:  SC + sidecoin + innovation + MM + scBTC

is it possible for scBTC to take advantage of the innovation or is that impossible b/c the SC MM is specific to sidecoin?

I do not understand how creating more units (sidecoin) can be advantage.
I think SC + innovation + scBTC is better chain.  And if it is better than MC then innovation will be implemented into MC.

Innovation = higher price for desirable feature. We are the minority when it comes to hard money as a desirable feature.

You won't lock your BTC in but if you sell your BTC someone will arb.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
btcney
Sr. Member
****
Offline Offline

Activity: 364


View Profile
November 04, 2014, 03:53:24 PM
 #15619

NO SIDECHAIN DISCUSSION BELOW THIS LINE:


_______________________________________________________________________________ _______________________________________________________________________________ __________________________


cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
November 04, 2014, 03:59:25 PM
 #15620

what's your answer again to the argument that all these billions of SC's are stealing tx fees away from Bitcoin miners?
Are you concerned about revenue or block size? Isn't the point of SCs to allow Bitcoin to scale by mitigating its transactions through other chains?

Sure if you ensure that dynamic. But why would anyone do their tx's on Mc if they can do them better on SC?
Pages: « 1 ... 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] 782 783 784 785 786 787 788 789 790 791 792 793 794 795 796 797 798 799 800 801 802 803 804 805 806 807 808 809 810 811 812 813 814 815 816 817 818 819 820 821 822 823 824 825 826 827 828 829 830 831 ... 1559 »
  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!