Bitcoin Forum
December 08, 2016, 10:21:59 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 ... 1149 1150 1151 1152 1153 1154 1155 1156 1157 1158 1159 1160 1161 1162 1163 1164 1165 1166 1167 1168 1169 1170 1171 1172 1173 1174 1175 1176 1177 1178 1179 1180 1181 1182 1183 1184 1185 1186 1187 1188 1189 1190 1191 1192 1193 1194 1195 1196 1197 1198 [1199] 1200 1201 1202 1203 1204 1205 1206 1207 1208 1209 1210 1211 1212 1213 1214 1215 1216 1217 1218 1219 1220 1221 1222 1223 1224 1225 1226 1227 1228 1229 1230 1231 1232 1233 1234 1235 1236 1237 1238 1239 1240 1241 1242 1243 1244 1245 1246 1247 1248 1249 ... 1560 »
  Print  
Author Topic: Gold collapsing. Bitcoin UP.  (Read 1806498 times)
thebenjamincode
Hero Member
*****
Offline Offline

Activity: 490


37iGtdUJc2xXTDkw5TQZJQX1Wb98gSLYVP


View Profile
May 12, 2015, 03:24:43 AM
 #23961

i think gold will be going back up again if it falls down. just like what happened to BTC when mtgox went down
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
smooth
Legendary
*
Offline Offline

Activity: 1246



View Profile
May 12, 2015, 03:26:46 AM
 #23962

smooth I am not following that discussion but what about rented hardware attacks? Doesn't that involve the BTC exchange value or does the network hashrate scaling to BTC value negate? (sorry didn't think this out)

Well if you are dead set on attacking (for non-economic reasons), you can rent hardware to attack, but it will cost you more (up to the limits on the chart with the model parameters given) than renting the hardware and using it to mine honestly. The difference between the two is what is shown in that chart.

Attacks on the coin itself (which rely on a lowered exchange rate, for example by shorting or having some kind of natural short exposure) are different from using attacks within the coin to make money.

EDIT: I guess a case worth considering is using rented hashrate by an attacker to "promote" up the chart (closer to 50% or over). Not considered by Meni's analysis. I don't know if the real world economics make that significant.
TPTB_need_war
Sr. Member
****
Offline Offline

Activity: 420


View Profile
May 12, 2015, 03:29:47 AM
 #23963

Here was my comment on IBLT:

https://gist.github.com/gavinandresen/e20c3b5a1d4b97f79ac2#comment-1324639

My thought is it appears to me to be pie-in-the-sky in sense of hoping that parties will avoid the increasing probability of failure as the compression rate increases. In short, the system will need be highly centralized in order to cope with that loss of entropy.

solex
Legendary
*
Offline Offline

Activity: 1078


100 satoshis -> ISO code


View Profile
May 12, 2015, 05:24:05 AM
 #23964

Here was my comment on IBLT:

https://gist.github.com/gavinandresen/e20c3b5a1d4b97f79ac2#comment-1324639

My thought is it appears to me to be pie-in-the-sky in sense of hoping that parties will avoid the increasing probability of failure as the compression rate increases. In short, the system will need be highly centralized in order to cope with that loss of entropy.

Did you read the comment below yours? It is from Rusty Russell, a software genius who is behind parts of the Linux kernel. He and Kalle Rosenbaum exchange notes on their independently developed implementations of IBLT tested using tx recovered from the Bitcoin blockchain. It is not pie-in-the-sky. It works!
http://rustyrussell.github.io/pettycoin/2014/11/05/Playing-with-invertible-bloom-lookup-tables-and-bitcoin-transactions.html

Regarding "compression rate increase" == "system will need be highly centralized".
Successful compression rate increase is a function of the synchronization of node mempools, remember they are already all running the same software (consensus code), and receiving the same cascading p2p unconfirmed tx. They don't need to be centralized, they just need to avoid applying their own personal tx censorship rules (e.g. like Eligius who regards Counterparty tx as spam while encoding books is fine and dandy).


smooth
Legendary
*
Offline Offline

Activity: 1246



View Profile
May 12, 2015, 06:31:08 AM
 #23965

Rusty Russell, the genius who is behind the implementation of the Lightning Networks.

No he's not. Proper credit for Lightning Network is Joseph Poon and Thaddeus Dryja. Rusty wrote a series of posts explaining Lightning Network.

solex
Legendary
*
Offline Offline

Activity: 1078


100 satoshis -> ISO code


View Profile
May 12, 2015, 06:32:46 AM
 #23966

Rusty Russell, the genius who is behind the implementation of the Lightning Networks.

No he's not. Proper credit for Lightning Network is Joseph Poon and Thaddeus Dryja. Rusty wrote a series of posts explaining Lightning Network

Yes. He is building the software for it, made that clearer now. I know he didn't write the paper.

smooth
Legendary
*
Offline Offline

Activity: 1246



View Profile
May 12, 2015, 06:38:26 AM
 #23967

Rusty Russell, the genius who is behind the implementation of the Lightning Networks.

No he's not. Proper credit for Lightning Network is Joseph Poon and Thaddeus Dryja. Rusty wrote a series of posts explaining Lightning Network

Yes. He is building the software for it, made that clearer now. I know he didn't write the paper.

Do you have a source for that? It's reasonably plausible he'd be working on something given the level of effort he put into studying it, but I haven't seen any explicit statement to that effect. I know he went to work for Blockstream, but Lightning Network is primarily a project of another Bitcoin company (Mirror).

solex
Legendary
*
Offline Offline

Activity: 1078


100 satoshis -> ISO code


View Profile
May 12, 2015, 06:53:34 AM
 #23968

Rusty Russell, the genius who is behind the implementation of the Lightning Networks.

No he's not. Proper credit for Lightning Network is Joseph Poon and Thaddeus Dryja. Rusty wrote a series of posts explaining Lightning Network

Yes. He is building the software for it, made that clearer now. I know he didn't write the paper.

Do you have a source for that? It's reasonably plausible he'd be working on something given the level of effort he put into studying it, but I haven't seen any explicit statement to that effect. I know he went to work for Blockstream, but Lightning Network is primarily a project of another Bitcoin company (Mirror).

Not to hand, it was anecdotal based on soft-fork discussions. I will amend the post until the situation is clearer. Thanks for the info.

justusranvier
Legendary
*
Offline Offline

Activity: 1400



View Profile WWW
May 12, 2015, 01:47:38 PM
 #23969

Gold is tangible asset. Hard to convince older generation to hold bitcoin.
The need to convince the older generation about anything is highly overrated.

The people we need to worry about convincing are the people who will be producing new wealth in the future - not those who are already (for the most part) done producing.
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
May 12, 2015, 02:18:04 PM
 #23970

following script pretty well:

rocks
Legendary
*
Offline Offline

Activity: 1153


View Profile
May 12, 2015, 04:37:36 PM
 #23971

Gold is tangible asset. Hard to convince older generation to hold bitcoin.
The need to convince the older generation about anything is highly overrated.

The people we need to worry about convincing are the people who will be producing new wealth in the future - not those who are already (for the most part) done producing.

I don't know about that. Just look at the money Soros and Buffet spend on various NGO's to "educate" us dumb plebs. Would be useful is some of that went towards reality and not Keynesian fantasy.
rocks
Legendary
*
Offline Offline

Activity: 1153


View Profile
May 12, 2015, 07:10:39 PM
 #23972

Great perspective on Bitcoin's growth over the past 2 years.

http://www.reddit.com/r/Bitcoin/comments/35pku9/i_wonder_what_would_have_happened_if_todays/
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
May 12, 2015, 08:25:52 PM
 #23973

Andrew Miller, good paper on Bitcoin network topology:

https://cs.umd.edu/projects/coinscope/coinscope.pdf
cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
May 12, 2015, 09:58:31 PM
 #23974

Richard Gendal Brown, who i've never been fond of b/c of his misperceptions around Bitcoin, may be finally getting it:

So, sure: bitcoin raises all kinds of conceptual, legal, technical and philosophical questions. But it would only take one of these scenarios to drive some adoption and, very quickly, bitcoin might cease to be a sideshow.  And, given that its core design goal of censorship-resistant digital cash has such disruptive potential – good and bad, this possibility alone is reason to keep an eye on it. Dismissing it entirely could be a big mistake.


http://gendal.me/2015/05/12/blockchain-is-where-banks-have-the-most-obvious-opportunity-but-you-ignore-bitcoin-at-your-peril/
sidhujag
Legendary
*
Offline Offline

Activity: 1302


View Profile
May 12, 2015, 11:04:19 PM
 #23975

http://news.goldseek.com/GoldSeek/1431444202.php

Getting closer to the moment it works until it doesnt.

Not quite there yet.
tabnloz
Hero Member
*****
Offline Offline

Activity: 793


View Profile
May 12, 2015, 11:13:32 PM
 #23976

http://news.goldseek.com/GoldSeek/1431444202.php

Getting closer to the moment it works until it doesnt.

Not quite there yet.

Happened for a few hours today as well. Japan, then Europe. Again though, someone stepped in.
pa
Hero Member
*****
Offline Offline

Activity: 484


View Profile
May 13, 2015, 12:14:30 AM
 #23977

Richard Gendal Brown, who i've never been fond of b/c of his misperceptions around Bitcoin, may be finally getting it:

So, sure: bitcoin raises all kinds of conceptual, legal, technical and philosophical questions. But it would only take one of these scenarios to drive some adoption and, very quickly, bitcoin might cease to be a sideshow.  And, given that its core design goal of censorship-resistant digital cash has such disruptive potential – good and bad, this possibility alone is reason to keep an eye on it. Dismissing it entirely could be a big mistake.


http://gendal.me/2015/05/12/blockchain-is-where-banks-have-the-most-obvious-opportunity-but-you-ignore-bitcoin-at-your-peril/

Terrific piece.
solex
Legendary
*
Offline Offline

Activity: 1078


100 satoshis -> ISO code


View Profile
May 13, 2015, 12:20:23 AM
 #23978

http://news.goldseek.com/GoldSeek/1431444202.php

Getting closer to the moment it works until it doesnt.

Not quite there yet.

Happened for a few hours today as well. Japan, then Europe. Again though, someone stepped in.

This is really interesting. I think it goes back to a fundamental flaw in debt-based money, particularly when FRB means that 95% of a currency is not even government printed "fiat". The flaw is interest, specifically that debt-money which attracts interest is only sustainable long-term if real GDP grows faster than the real interest rate which debt-money requires to service it. Otherwise most money is drained from the productive economy and winds up at the banks where the only cleansing mechanism is bank insolvencies which returns money to the economy. Since bank insolvency is pretty much "banned" by CBs as banks are backstopped by printed money, then wealth transfers and economic distortions continue to build up relentlessly.

Equity-based money and asset alternatives (Gold, silver, real-estate, Picasso paintings) do not have this flaw, however, until Bitcoin was invented, none of them were suitable for 21st (or even 20th) Century long-distance, fast moving commerce.

Paradigm change. Your time is coming!

cypherdoc
Legendary
*
Offline Offline

Activity: 1764



View Profile
May 13, 2015, 12:51:29 AM
 #23979

i say UP
thezerg
Legendary
*
Offline Offline

Activity: 1246


View Profile
May 13, 2015, 01:08:57 AM
 #23980

http://news.goldseek.com/GoldSeek/1431444202.php

Getting closer to the moment it works until it doesnt.

Not quite there yet.

Ok but I'd love to see something supportive from a guy who is NOT peddling PMs.  And some charts... anybody read any other sources?

EDIT: oops quoted the wrong msg
Pages: « 1 ... 1149 1150 1151 1152 1153 1154 1155 1156 1157 1158 1159 1160 1161 1162 1163 1164 1165 1166 1167 1168 1169 1170 1171 1172 1173 1174 1175 1176 1177 1178 1179 1180 1181 1182 1183 1184 1185 1186 1187 1188 1189 1190 1191 1192 1193 1194 1195 1196 1197 1198 [1199] 1200 1201 1202 1203 1204 1205 1206 1207 1208 1209 1210 1211 1212 1213 1214 1215 1216 1217 1218 1219 1220 1221 1222 1223 1224 1225 1226 1227 1228 1229 1230 1231 1232 1233 1234 1235 1236 1237 1238 1239 1240 1241 1242 1243 1244 1245 1246 1247 1248 1249 ... 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!