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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 1805798 times)
tvbcof
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January 15, 2015, 02:18:57 AM
 #20161

btw, tvbcof never called the bottom @1.98 in 2011 like he pretends.  he's free to provide some links for proof but all i recall was some vague reference.

I never call tops, bottoms, or prices.  The few times I've come close, I always qualify it by stating that it's just a total guess.  I said that my guesstimate of this recent bottom would be in the $250-ish range and I doubted seriously a selling opportunity very soon and hoped to get one in 2015 if we are lucky.

Some people try to call prices with idiot wave analysis and other snake oil, and plenty of others are fooled by these types.  This is no different than shamanism and witchcraft in some cultures...half the people in a society are below average after all, and it really does seem that Libertarians who are rife in this ecosystem are very primitive in their economic and strategic thought patterns and prone to be punked.  For a year now cypherdoc has been saying it's a good time to get rid of whatever one has (especially gold) and buy more BTC.  What a clown. 

I have only been active in buying or selling at two times in the last 4.5 years.  Both times I've made mention of what I am doing and why.  Many other times I have mentioned what I did and why.  I was buying in the last half of 2011 and said at the time that I was going to double-down once more at $1.60-ish if we get there IIRC.  Maybe it was $140-ish.  We didn't get there and the only exchange I had some confidence in (Tradehill) closed it's doors (and made me whole in both BTC and USD when they did.)  I was selling a not insignificant portion of my position at the end of 2013 and start of 2014.  At all other times I've been sitting on my hands.

I'm a strategic system analysis type of person.  Since I think that trading is stupid unless one is a pro (which very few people here are, and certainly not cypherdoc) I don't take very many actions and simply play my macro level system analysis.  I've been gracious enough to share my insights over the last 4.5 years.

We are at a critical juncture in Bitcoin-land where it either survives by understanding it's true potential value as a reserve currency or continues down the dead-end road to it's doom trying to be an exchange currency.  What I do with the remainder of my hoard and when depends a lot on this struggle.  The formation of Blockstream is one of the most significant things to happen in the time I've been involved with Bitcoin and it gives me a lot of hope.


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cypherdoc
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January 15, 2015, 02:31:14 AM
 #20162

I've been gracious enough to share my insights over the last 4.5 years.

this is your problem right here.  you crave admiration which is NOT forthcoming.
marcus_of_augustus
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January 15, 2015, 03:13:47 AM
 #20163

And that assumes an honest market which now that Wall Street is involved is anybodies guess.
Wait, what?!? How is Wall Street involved in Bitcoin?

They aren't but they are waiting/hoping with baited breath that it fails or gets hacked. Trouble is, the price right now is merely exposing fear and emotion while ignoring that it has not failed or been hacked.  THAT is bad news for bears.  We're very close to a major buying point. Leveraged longs are starting to build on Bitfinex. 

... they're already here, they've been here since July last year. Nobody wants to hear it, Silbert was right they arrived 3-6 months after he said ... it's just that no-one likes the immediate result.

cypherdoc
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January 15, 2015, 03:15:09 AM
 #20164

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.
solex
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100 satoshis -> ISO code


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January 15, 2015, 04:55:27 AM
 #20165

Perhaps he should stick with "the real Bitcoin" from before the hard fork that created the 1 MB limit.
Hilarious how many people defend the 1 MB limit without realizing that it wasn't part of the original release.

That would be a great infographic - Satoshi's 1st code - Todays code with adds /deletes

This video will give you some idea how much work has been done:

https://www.youtube.com/watch?v=NFFyMmiOSi8

tvbcof
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January 15, 2015, 05:32:40 AM
 #20166

Bears insist on coughing up bitcoins.  And tvbcof cheers. You're idiots.

The last thing I'm doing now at these prices is coughing up BTC.  I might have finished off my early 2014 sales plan at that last $600 spikelett, but I didn't want to have my bank account shut down again.  I'm not buying, but that's mainly because I still have as many in my stash(es) as I need.  I'd consider buying again if not, but only after seeing some strong evidence that sidechains are on the way and that the Bitcoin Foundation bloatchain fork fails to materialize.  I thought the fork was looking like it might happen a year ago and it was a big factor in my deciding to sell in the quantity that I did since it is likely to permanently damage Bitcoin.


cypherdoc
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January 15, 2015, 06:15:50 AM
 #20167

Geezuz, they still can't get it right. No wonder there is so much confusion. Just like the Blockstream folks. Alot of people are going to keep losing alot of money;

http://www.brookings.edu/blogs/techtank/posts/2015/01/13-blockchain-innovation-kaushal
cbeast
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Let's talk governance, lipstick, and pigs.


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January 15, 2015, 06:25:43 AM
 #20168

Geezuz, they still can't get it right. No wonder there is so much confusion. Just like the Blockstream folks. Alot of people are going to keep losing alot of money;

http://www.brookings.edu/blogs/techtank/posts/2015/01/13-blockchain-innovation-kaushal
Let's just stop calling it Bitcoin and really cause some cognitive dissonance.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
iCEBREAKER
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Crypto is the separation of Power and State.


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January 15, 2015, 08:23:37 AM
 #20169

Geezuz, they still can't get it right. No wonder there is so much confusion. Just like the Blockstream folks. Alot of people are going to keep losing alot of money;

http://www.brookings.edu/blogs/techtank/posts/2015/01/13-blockchain-innovation-kaushal
Let's just stop calling it Bitcoin and really cause some cognitive dissonance.

If you liked Bitcoin you'll love Blockcoin.  New & Improved with 100% more cryptolicious SideChainsTM!!!

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
"Monero" : { Private - Auditable - 100% Fungible - Flexible Blocksize - Wild & Free® - Intro - Wallets - Podcats - Roadmap - Dice - Blackjack - Github - Android }


Bitcoin is intentionally designed to be ungovernable and governance-free.  luke-jr 2016
Blocks must necessarily be full for the Bitcoin network to be able to pay for its own security.  davout 2015
Blocksize is an intentionally limited resource, like the 21e6 BTC limit.  Changing it degrades the surrounding economics, creating negative incentives.  Jeff Garzik 2013


"I believed @Dashpay instamine was a bug & not a feature but then read: https://bitcointalk.org/index.php?topic=421615.msg13017231#msg13017231
I'm not against people making money, but can't support questionable origins."
https://twitter.com/Tone_LLT/status/717822927908024320


The raison d'être of bitcoin is trustlessness. - Eric Lombrozo 2015
It is an Engineering Requirement that Bitcoin be “Above the Law”  Paul Sztorc 2015
Resiliency, not efficiency, is the paramount goal of decentralized, non-state sanctioned currency -Jon Matonis 2015

Bitcoin is intentionally designed to be ungovernable and governance-free.  luke-jr 2016

Technology tends to move in the direction of making surveillance easier, and the ability of computers to track us doubles every eighteen months. - Phil Zimmerman 2013

The only way to make software secure, reliable, and fast is to make it small. Fight Features. - Andy Tanenbaum 2004

"Hard forks cannot be co
cbeast
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Let's talk governance, lipstick, and pigs.


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January 15, 2015, 08:40:56 AM
 #20170

Geezuz, they still can't get it right. No wonder there is so much confusion. Just like the Blockstream folks. Alot of people are going to keep losing alot of money;

http://www.brookings.edu/blogs/techtank/posts/2015/01/13-blockchain-innovation-kaushal
Let's just stop calling it Bitcoin and really cause some cognitive dissonance.

If you liked Bitcoin you'll love Blockcoin.  New & Improved with 100% more cryptolicious SideChainsTM!!!
No seriously. It's a brand thing. Corporations change names all the time. We can just say we are using different "apps" on the Satoshi Blockchain, but they are compatible with the 'old' Bitcoin that people used to use. You can do this overtly and then yes, you can say your client has more features, like counterparty, colored cloins, etc. Side Chains sold separately.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
solex
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100 satoshis -> ISO code


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January 15, 2015, 09:33:32 AM
 #20171

Sarutobi is ramping the volumes....    

30,000 transactions in one day!

https://blockchain.info/address/3MXxfNZoifLYdS8wJTpvfeDNPt9ZWuMAaN

Not exactly what is needed.

Edit:  the 30k is over 5 days.


BldSwtTrs
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January 15, 2015, 09:44:04 AM
 #20172

Sarutobi is ramping the volumes....    

30,000 transactions in one day!

https://blockchain.info/address/3MXxfNZoifLYdS8wJTpvfeDNPt9ZWuMAaN

Not exactly what is needed.


So this is where the increase in number of tx/day comes from? Not very good indeed.
Melbustus
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January 15, 2015, 09:51:25 AM
 #20173

Sarutobi is ramping the volumes....    

30,000 transactions in one day!


Looks to me like the transactions start 5 days ago:
https://blockchain.info/address/3MXxfNZoifLYdS8wJTpvfeDNPt9ZWuMAaN?sort=1




Not exactly what is needed.


But what's the problem with introducing people to bitcoin via gaming microtransactions anyway?

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
sickpig
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January 15, 2015, 09:52:31 AM
 #20174

Sarutobi is ramping the volumes....    

30,000 transactions in one day!

https://blockchain.info/address/3MXxfNZoifLYdS8wJTpvfeDNPt9ZWuMAaN

Not exactly what is needed.



as peter todd already said:

Quote
"Daily BTC tx volume will hit all time next monday, if someone gives me a few hundred dollars to pay fees."

i.e. tx volume metric alone means nothing


Bitcoin is a participatory system which ought to respect the right of self determinism of all of its users - Gregory Maxwell.
BldSwtTrs
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January 15, 2015, 10:07:58 AM
 #20175

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.
solex
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100 satoshis -> ISO code


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January 15, 2015, 10:12:27 AM
 #20176

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 to be anywhere near as popular as angry birds to flood the blocks.


cypherdoc
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January 15, 2015, 10:55:05 AM
 #20177

Bears insist on coughing up bitcoins.  And tvbcof cheers. You're idiots.

The last thing I'm doing now at these prices is coughing up BTC.  I might have finished off my early 2014 sales plan at that last $600 spikelett, but I didn't want to have my bank account shut down again.  I'm not buying, but that's mainly because I still have as many in my stash(es) as I need.  I'd consider buying again if not, but only after seeing some strong evidence that sidechains are on the way and that the Bitcoin Foundation bloatchain fork fails to materialize.  I thought the fork was looking like it might happen a year ago and it was a big factor in my deciding to sell in the quantity that I did since it is likely to permanently damage Bitcoin.



There's a thread up top asking about who sold at160.  You probably did, didn't you? Why? Because your rhetoric,  negativity, and personal attacks have palpably picked up in intensity as the price  dropped. I won't let anyone forget just how negative you've been over the last couple of weeks towards Bitcoin I'll tell you right now.  All the things wrong about it. You'll never live it down.
cypherdoc
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January 15, 2015, 11:00:53 AM
 #20178

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.
BldSwtTrs
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January 15, 2015, 11:05:27 AM
 #20179

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.
inca
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January 15, 2015, 11:07:23 AM
 #20180

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.
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