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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 1979170 times)
sidhujag
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January 25, 2015, 05:09:43 PM
 #20561

Hardforks r expected atleast first 10 yrs.. Ie we had a hardfork when we got rid of gold standard but monetary policy at the time was hundreds of yrs old..

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cypherdoc
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January 25, 2015, 05:10:59 PM
 #20562

now you're talking, baby:

Bitcoin: The “Perfect Gold”

http://insidebitcoins.com/news/bitcoin-the-perfect-gold/29080?utm_content=buffere5c51&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer
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January 25, 2015, 05:24:32 PM
 #20563

Hardforks r expected atleast first 10 yrs.. Ie we had a hardfork when we got rid of gold standard but monetary policy at the time was hundreds of yrs old..

That's because trust in fiat != trust in a chunk of code.  With Bitcoin, code is exactly what you have to put your trust in.
I'm also not buying that miners (rather: mining pools) will chose the fork that's best for Bitcoin as a whole, i.e. best for "hodlers," rather than the one which best serves their immediate interests Sad

BTW, have you noticed the pool breakdown lately?



Remember what it used to look like ~6 months ago?
cypherdoc
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January 25, 2015, 05:27:27 PM
 #20564

you mean this one?

NotLambchop
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January 25, 2015, 05:33:27 PM
 #20565

^No, I mean the chart I've posted, from https://blockchain.info/pools.
Nice homebrew you got there, glad you know how to make pie charts Smiley
NotHatinJustTrollin
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January 25, 2015, 05:36:20 PM
 #20566

4 pools controlling more than 51% of the network.

Very decentralized, much impossibility of mining cartels, many trustless currencies, wow.
ssmc2
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January 25, 2015, 05:40:20 PM
 #20567

Is there no thread safe from the troll invasion?  Roll Eyes
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January 25, 2015, 06:18:00 PM
 #20568

The interesting thing about professional trolls is that they help devs and investors think through every possible weakness and pitfall of the system, from the obvious to the far-fetched. So they too end up contributing.

For everything else there is the ignore button.   
cypherdoc
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January 25, 2015, 07:03:56 PM
 #20569

The interesting thing about professional trolls is that they help devs and investors think through every possible weakness and pitfall of the system, from the obvious to the far-fetched. So they too end up contributing.

For everything else there is the ignore button.   

Its true.

They're also the ultimate contra indicator. The higher the pitch,  the more you buy.
NotLambchop
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January 25, 2015, 07:19:46 PM
 #20570

^
*contraindicator.  One step at a tiem--first lrn 2 spellinks, then u can haz macroeconomics.
solex
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January 25, 2015, 07:57:44 PM
 #20571

The interesting thing about professional trolls is that they help devs and investors think through every possible weakness and pitfall of the system, from the obvious to the far-fetched. So they too end up contributing.

For everything else there is the ignore button.   

Its true.

They're also the ultimate contra indicator. The higher the pitch,  the more you buy.

Yep. And while they are hating and trolling like tantrum-throwing teenagers right now, years later they will look back and realize what the adults know today. That the dip below $200 was the last opportunity for the ordinary person to load up with BTC in serious quantity.

sgbett
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January 25, 2015, 08:06:29 PM
 #20572

Whats worse is they probably hold coins just like everyone else, but are so insecure in themselves that they don't want to admit it in case anyone points out they were wrong. There whole sense of self identity is pinned on what random strangers on the internet think about their screen name. They come on here to slate everyone else just so that if BTC does go to shit they can still jerk off about how smrt they were on the internet. Then if the price does go up, they'll go back to posting on their original account, like they knew all along.

Beyond embarrassing.

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sidhujag
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January 25, 2015, 08:13:11 PM
 #20573

Hardforks r expected atleast first 10 yrs.. Ie we had a hardfork when we got rid of gold standard but monetary policy at the time was hundreds of yrs old..

That's because trust in fiat != trust in a chunk of code.  With Bitcoin, code is exactly what you have to put your trust in.
I'm also not buying that miners (rather: mining pools) will chose the fork that's best for Bitcoin as a whole, i.e. best for "hodlers," rather than the one which best serves their immediate interests Sad

BTW, have you noticed the pool breakdown lately?



Remember what it used to look like ~6 months ago?
your right trust in fiat != trust in code id say trust in code > trust in fiat because trust in fiat = trust corrupt politicians and regulators and invisible hands while trust in code is what it is.. the consensus algorithm does not effect the long term outlook as a currency especially when mining shuts down. If you truly insist then trust in code for bitcoin can mean trusting that the miners dont collude to break the network before a fork is created. Even if that happens its a better outcome than what we have wih fiat today

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cypherdoc
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January 25, 2015, 08:19:32 PM
 #20574

Central banks are getting more negative press these days.
molecular
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January 25, 2015, 08:27:40 PM
 #20575

Central banks are getting more negative press these days.

look what the German Bundesbank is doing:

http://www.bundesbank.de/Redaktion/EN/Downloads/Bundesbank/Research_Centre/Conferences/2015/2015_01_29_frankfurt_programme.pdf



a workshop on p2p financial systems.

Andolfatto is coming and Antonopoulos, too.

Maybe us germans will have a a real eMark soon? ;-)

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79b79aa8d5047da6d3XX
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January 25, 2015, 08:30:29 PM
 #20576

That the dip below $200 was the last opportunity for the ordinary person to load up with BTC in serious quantity.
Except for those of us who dollar cost averaged through 2014, and shot our wads too soon.  Sad
cypherdoc
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January 25, 2015, 08:33:18 PM
 #20577

This could definitely set off the next deflationary wave/crisis:

http://mobile.bloomberg.com/news/2015-01-25/syriza-defeats-samaras-to-win-greek-election-exit-poll.html

Syriza wants at least half of Greek debt to be written off along with an end to austerity. This is the last thing their European creditors want to see. Remember,  present day crises get set off when there is debt implosion which is what a debt write off is.
cypherdoc
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January 25, 2015, 08:38:25 PM
 #20578

Bill Gross part 2

http://www.bloomberg.com/podcasts/masters-in-business/
iCEBREAKER
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January 25, 2015, 09:13:05 PM
 #20579


Quote
As Star Xu explained during his talk, bitcoin could be viewed as a “perfect gold,” offering better portability, divisibility, durability, and fungibility than its precious metal cousin

Fungibility is questionable, given the efforts to utilize Bitcon's taint featurebug to create white/black/red lists.  You better pray CoinShuffle works out!

Of course similar efforts are underway for gold, with the invention of default 'conflict metal' status for all the stuff that doesn't pony up for the certification scammers.

In conclusion, [shameless plug for Monero, which is intrinsically fungible].   Cheesy

The difference between bad and well-developed digital cash will determine whether we have a dictatorship or a real democracy.  David Chaum 1996
"Monero" : { Private - Auditable - 100% Fungible - Flexible Blocksize - Wild & Free® - Intro - Core GUI - Podcats - Roadmap - Dice - Blackjack - Github - Android }
MoneroForCash.com  |  Buy and sell XMR near you  |  Easymonero.com  |  Bitsquare.io - Decentralized XMR Exchange  |  Buy XMR with fiat
Fungibility provides privacy as a side effect.  Adam Back 2014

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


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
marcus_of_augustus
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January 25, 2015, 09:24:02 PM
 #20580

The interesting thing about professional trolls is that they help devs and investors think through every possible weakness and pitfall of the system, from the obvious to the far-fetched. So they too end up contributing.

For everything else there is the ignore button.   

... there's constructive criticism and then there's the barrage of baseless negativity for no other reason than to scare off noobs who come to read the most popular threads.

In the great arc of monetary history the trolls are inconsequential but who likes to live in a neighbourhood covered in graffitti and rubbish?

Also by default they are basically evil people because of the vile fiat debt-slave system that they are upholding. Evil needs nothing else than good men to do nothing ... get rid of these guys.

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