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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 2032123 times)
cypherdoc (OP)
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January 15, 2015, 11:09:29 AM
 #20141

But what's the problem with introducing people to bitcoin via gaming microtransactions anyway?
It would be better if the increase in transactions comes from remittances or merchant payments. But it's better than nothing I guess.

I'm more concerned about hitting the 1MB limit before there is a solution to it being rolled out.
A game app would not have be anywhere near as popular as angry birds to flood the blocks.



There's no doubt though that there is panic selling too as well. But even Sarotoubi serves a  purpose to pay miners,  get  the word out, and probably most importantly pay miner fees.  They need those to stay solvent and we want them to stay solvent to secure the network. And if it pushes the devs to increasing block size sooner, great.
By the way what do you think about the political controversy around that block size increase? Mircea Popescu will do anything to screw the hard fork. This could end up being really messy.

Storm in a teacup.

Yep
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BldSwtTrs
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January 15, 2015, 11:11:31 AM
 #20142

But what's the problem with introducing people to bitcoin via gaming microtransactions anyway?
It would be better if the increase in transactions comes from remittances or merchant payments. But it's better than nothing I guess.

I'm more concerned about hitting the 1MB limit before there is a solution to it being rolled out.
A game app would not have be anywhere near as popular as angry birds to flood the blocks.



There's no doubt though that there is panic selling too as well. But even Sarotoubi serves a  purpose to pay miners,  get  the word out, and probably most importantly pay miner fees.  They need those to stay solvent and we want them to stay solvent to secure the network. And if it pushes the devs to increasing block size sooner, great.
By the way what do you think about the political controversy around that block size increase? Mircea Popescu will do anything to screw the hard fork. This could end up being really messy.

Storm in a teacup.

Yep
I wish too, but maybe MP will get some support in the community, he already has a decent numbers of loyal followers. I don't think this issue should be underestimate.
cypherdoc (OP)
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January 15, 2015, 11:17:20 AM
 #20143

But what's the problem with introducing people to bitcoin via gaming microtransactions anyway?
It would be better if the increase in transactions comes from remittances or merchant payments. But it's better than nothing I guess.

I'm more concerned about hitting the 1MB limit before there is a solution to it being rolled out.
A game app would not have be anywhere near as popular as angry birds to flood the blocks.



There's no doubt though that there is panic selling too as well. But even Sarotoubi serves a  purpose to pay miners,  get  the word out, and probably most importantly pay miner fees.  They need those to stay solvent and we want them to stay solvent to secure the network. And if it pushes the devs to increasing block size sooner, great.
By the way what do you think about the political controversy around that block size increase? Mircea Popescu will do anything to screw the hard fork. This could end up being really messy.

Storm in a teacup.

Yep
I wish too, but maybe MP will get some support in the community, he already has a decent numbers of loyal followers. I don't think this issue should be underestimate.

True, but don't underestimate Gavin either despite punks like tvbcof criticizing him all the time. He has tremendous political power and many people including myself feel he's been the perfect guy to lead us to where we are now. No one's perfect but he's been great.

Plus, I'll take Sarotoubi anyday if that is what it takes to get us to the next level which it clearly might be: micro tx's.
cypherdoc (OP)
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January 15, 2015, 11:26:54 AM
 #20144

So the petrodollar died in Nov, and nobody noticed, as "for the first time in almost two decades, energy-exporting countries would pull their "petrodollars" out of world markets in 2015."  (http://www.zerohedge.com/news/2015-01-14/russia-just-pulled-itself-out-petrodollar)

How long until this impacts the USD index?

Is gold going vertical this morning the first cloud of an oncoming storm, or will it take years for King Dollar's momentum to dissipate?

Approaching my little yellow "x" (cypher sharpens DZZ stick).
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January 15, 2015, 11:33:41 AM
 #20145

warning for Bitcoin Bears. 

Gold looks to be weakening and is threatening to roll over:



silver has really gone nowhere and can't even get up to resistance:



if they do roll here Bears, look the hell out.
Can you explain how gold and silver prices influence BTC? It's not a troll post, I don't know anything about Economics, but I'm interested.

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January 15, 2015, 11:37:56 AM
 #20146

Approaching my little yellow "x" (cypher sharpens DZZ stick).

Being double-short gold means being double-long fiat.

I'd never take such a risk, but good luck with that.   Undecided


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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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cypherdoc (OP)
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January 15, 2015, 11:41:30 AM
 #20147

Approaching my little yellow "x" (cypher sharpens DZZ stick).

Being double-short gold means being double-long fiat.

I'd never take such a risk, but good luck with that.   Undecided

Actually it means being long Bitcoin. Welcome to the Digital Age!  Wink
cypherdoc (OP)
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January 15, 2015, 11:45:04 AM
 #20148

warning for Bitcoin Bears. 

Gold looks to be weakening and is threatening to roll over:



silver has really gone nowhere and can't even get up to resistance:



if they do roll here Bears, look the hell out.
Can you explain how gold and silver prices influence BTC? It's not a troll post, I don't know anything about Economics, but I'm interested.

Hard fixed liquid supply bitcoin > mushy fixed illiquid supply of gold. One has been money for 5k years, other will  be money for 5k years.
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January 15, 2015, 11:49:30 AM
Last edit: January 15, 2015, 12:25:01 PM by sgbett
 #20149

im not sure what it means, and I don't have a nice chart, but I think this belongs in here!

http://www.bbc.com/news/business-30829917

edit: I made a handy infographic, for simple folks like me.


"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto
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cypherdoc (OP)
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January 15, 2015, 12:07:24 PM
 #20150

im not sure what it means, and I don't have a nice chart, but I think this belongs in here!

http://www.bbc.com/news/business-30829917

That is interesting. What I think might start happening is a fall in the USD as a  result  which could send Bitcoin soaring.  
tabnloz
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January 15, 2015, 12:13:12 PM
 #20151

im not sure what it means, and I don't have a nice chart, but I think this belongs in here!

http://www.bbc.com/news/business-30829917

That is interesting. What I think might start happening is a fall in the USD as a  result  which could send Bitcoin soaring.  

That's pre-empting QE EU.


Did anyone see it coming?
cypherdoc (OP)
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January 15, 2015, 12:41:14 PM
 #20152

im not sure what it means, and I don't have a nice chart, but I think this belongs in here!

http://www.bbc.com/news/business-30829917

That is interesting. What I think might start happening is a fall in the USD as a  result  which could send Bitcoin soaring.  

That's pre-empting QE EU.


Did anyone see it coming?

Nah, no one ever sees these things coming.
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Let's talk governance, lipstick, and pigs.


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January 15, 2015, 12:44:58 PM
 #20153

Nah, no one ever sees these things coming.
In a way we did.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
sgbett
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January 15, 2015, 12:56:30 PM
 #20154

Nah, no one ever sees these things coming.
In a way we did.

The problem is what the hell do you do!?

"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto
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Let's talk governance, lipstick, and pigs.


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January 15, 2015, 12:59:08 PM
 #20155

to the SC proponents who insist that the 2wp will equalize fiat exchange prices across SC's thru arbitrage.

just look at the $16ish spread btwn Bitfinex and the Chinese exchanges.  and this is with open, relatively equally liquid exchanges that DON'T have a 2 day lock up.  just imagine how volatile and disparate an illiquid, insecure SC can get with manipulation.
This.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
cbeast
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Let's talk governance, lipstick, and pigs.


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January 15, 2015, 01:00:24 PM
 #20156

Nah, no one ever sees these things coming.
In a way we did.

The problem is what the hell do you do!?
Don't make your currency a side chain to another currency.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
NewLiberty
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January 15, 2015, 01:15:33 PM
 #20157

im not sure what it means, and I don't have a nice chart, but I think this belongs in here!

http://www.bbc.com/news/business-30829917

That is interesting. What I think might start happening is a fall in the USD as a  result  which could send Bitcoin soaring.  

That's pre-empting QE EU.


Did anyone see it coming?

Nah, no one ever sees these things coming.
Everyone knew it would come, but only the inner circle knew when.
Pegs always fail. 
Why the Blockstream folks like to use the word for the SC "currency that is a wallet for bitcoin" still baffles me.

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January 15, 2015, 01:21:53 PM
 #20158

to the SC proponents who insist that the 2wp will equalize fiat exchange prices across SC's thru arbitrage.

just look at the $16ish spread btwn Bitfinex and the Chinese exchanges.  and this is with open, relatively equally liquid exchanges that DON'T have a 2 day lock up.  just imagine how volatile and disparate an illiquid, insecure SC can get with manipulation.
This.

How do you transfer fiat between Bitfinex and the Chinese exchanges in less than two days?
79b79aa8d5047da6d3XX
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January 15, 2015, 01:57:28 PM
Last edit: January 15, 2015, 02:07:29 PM by 79b79aa8d5047da6d3XX
 #20159

Pegs always fail.  

but unlike CHF/EUR, the SC 2wp would be irremovable (barring *another* protocol change). is it fair to compare?

cypherdoc (OP)
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January 15, 2015, 02:14:05 PM
 #20160

Pegs always fail.  

but unlike CHF/EUR, the SC 2wp would be irremovable (barring *another* protocol change). is it fair to compare?


Sure it is.

If Blockstream can change it once,  surely they can change it twice. Or more. That is, if we let them.
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