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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?
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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1979969 times)
Jdj1727
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August 03, 2015, 06:44:34 PM
 #29721

You guys/girls hold gold/silver as well as BTC?

not me. 

only a few ounces of silver and a couple grams of gold

I'm holding a little of each as well.
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justusranvier
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August 03, 2015, 07:39:12 PM
 #29722

Bitcoin won't get more expensive, fee-wise, if we bring on many, many more tx's onto the MAINchain that will help spread the costs and provide enough profit for mining to expand and grow.
It just goes to show how insane people are to suggest that Bitcoin transaction processing, with its very high fixed cost, should spread that fixed cost over a smaller number of transactions rather than a larger number of transactions.

I think any business plan that suggested such a strategy would spontaneously combust out of embarrassment before anyone could read it.
sickpig
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August 03, 2015, 07:49:48 PM
 #29723

justus, all

it seems that awareness of the need to introduce economic incentives for services provided by full nodes are rising among devs community, see this thread on the btc dev mailing list:

http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-August/009879.html

let's see how core devs will react to this idea.

Bitcoin is a participatory system which ought to respect the right of self determinism of all of its users - Gregory Maxwell.
sgbett
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August 03, 2015, 08:06:13 PM
 #29724

this can't be good:



I cut my exposure to equities by half today, AAPL was amongst those that got the chop!

Full Node: http://46.51.193.129 (BU) || http://haschinabannedbitcoin.com
"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
cypherdoc
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August 03, 2015, 08:16:56 PM
 #29725

this can't be good:



I cut my exposure to equities by half today, AAPL was amongst those that got the chop!

So it was you!

BTW, your simplicity argument against complex, conceptual only layer 2 solutions was spot on.
thezerg
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August 03, 2015, 08:27:45 PM
 #29726

justus, all

it seems that awareness of the need to introduce economic incentives for services provided by full nodes are rising among devs community, see this thread on the btc dev mailing list:

http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-August/009879.html

let's see how core devs will react to this idea.

How would this work if you issue (say) one txn per day on average?  I mean, wouldn't it take a month or even a year before the SPV client summed up enough use to make it worth committing the txn?  Are there risks to having a payment channel or LN connection open for these durations?
sgbett
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August 03, 2015, 08:41:48 PM
 #29727


I cut my exposure to equities by half today, AAPL was amongst those that got the chop!

So it was you!

BTW, your simplicity argument against complex, conceptual only layer 2 solutions was spot on.

That would be some serious whale action to be able to move a market that big Smiley or maybe it was butterfly wings...

I thought the simplicity argument was self-evident and shouldn't need anyone to explain it! Somebody gotta try and cut through the crapflood though. I've tried really hard to try and see the opposing POV but I come up short every time, and I think that's because I can't understand the philosophy behind making BTC some elitist tool when it seemed right from the outset that it was anything but.

If that makes me part of the "free-shit" army, then so be it. I'm not (yet) so morally bankrupt that I think that my well being can only come at the expense of others. That's what cripplecoin sounds like, thats why I don't want any part of it.

Full Node: http://46.51.193.129 (BU) || http://haschinabannedbitcoin.com
"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
cypherdoc
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August 03, 2015, 08:48:22 PM
 #29728

uh oh, Blockstream pissing off some of the most important early adopters in the space:

https://www.reddit.com/r/Bitcoin/comments/3fhik9/mike_hearn_outlines_the_most_compelling_arguments/ctosiaz

i smell doom.
cypherdoc
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August 03, 2015, 08:51:01 PM
 #29729

priceless:

[–]WinkleviBitcoinTrust 6 points 23 hours ago

Sure I can imaging it. I just don't feel like supporting those block cock blocking devs.

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brg444
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August 03, 2015, 08:53:26 PM
 #29730

uh oh, Blockstream pissing off some of the most important early adopters in the space:

https://www.reddit.com/r/Bitcoin/comments/3fhik9/mike_hearn_outlines_the_most_compelling_arguments/ctosiaz

i smell doom.

 Huh

is this a joke

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
lunarboy
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August 03, 2015, 08:57:26 PM
 #29731

priceless:

[–]WinkleviBitcoinTrust 6 points 23 hours ago

Sure I can imaging it. I just don't feel like supporting those block cock blocking devs.

 


could be time for a new Zhou Tong remix....... Chemical brothers

https://www.youtube.com/watch?v=MaU5qkQJ1e4
cypherdoc
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August 03, 2015, 09:09:37 PM
 #29732

uh oh, Blockstream pissing off some of the most important early adopters in the space:

https://www.reddit.com/r/Bitcoin/comments/3fhik9/mike_hearn_outlines_the_most_compelling_arguments/ctosiaz

i smell doom.

 Huh

is this a joke

no, you're the joke.
Cconvert2G36
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August 03, 2015, 09:17:49 PM
 #29733


Uh... you do realize this is just some jo dad with a stupid reddit user name, not the Winklevii.
sickpig
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August 03, 2015, 09:24:01 PM
 #29734

justus, all

it seems that awareness of the need to introduce economic incentives for services provided by full nodes are rising among devs community, see this thread on the btc dev mailing list:

http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-August/009879.html

let's see how core devs will react to this idea.

How would this work if you issue (say) one txn per day on average?  I mean, wouldn't it take a month or even a year before the SPV client summed up enough use to make it worth committing the txn?  Are there risks to having a payment channel or LN connection open for these durations?

I agree that implementation of such payment system has to be carefully crafted. that said I'm not knowledgeable enough to evaluate which solution are better. (1)
 
I just want to say that even at current level of adoption there's enough SPV traffic to support a  market based on supply and demand.

e.g. 1 txn per day per SVP client, supposedly half a million of active SPV clients would generate:

500000÷(3600×24) ~ 5.7tx/s

clearly we are not there since 5 tx/s per second is above the actual network capacity, but it is not so far fetched to estimate at least 500K SPV clients once we gain a wider users base.

(1) fwiw I'm following LN mailing list and it seems to me that keeping a channel open even for long period of time is not impossible.

Bitcoin is a participatory system which ought to respect the right of self determinism of all of its users - Gregory Maxwell.
cypherdoc
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August 03, 2015, 09:24:14 PM
 #29735


Uh... you do realize this is just some jo dad with a stupid reddit user name, not the Winklevii.

if so, the jokes on me.

evidence?
Cconvert2G36
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August 03, 2015, 09:26:45 PM
 #29736


Uh... you do realize this is just some jo dad with a stupid reddit user name, not the Winklevii.

if so, the jokes on me.

evidence?

[–]WinkleviBitcoinTrust 29 points 1 month ago
I saw a headline somewhere else on Reddit when the price dipped below $200 in January. That's what got me interested in BTC, and I have been buying ever since. I could cash out now for a modest gain, but why would I do that when we are going to the moon?
cypherdoc
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August 03, 2015, 09:33:24 PM
 #29737


Uh... you do realize this is just some jo dad with a stupid reddit user name, not the Winklevii.

if so, the jokes on me.

evidence?

[–]WinkleviBitcoinTrust 29 points 1 month ago
I saw a headline somewhere else on Reddit when the price dipped below $200 in January. That's what got me interested in BTC, and I have been buying ever since. I could cash out now for a modest gain, but why would I do that when we are going to the moon?

ok, sorry brg444.
cypherdoc
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August 03, 2015, 09:34:16 PM
 #29738

the crisis has breached the hull:

http://money.cnn.com/2015/08/03/investing/puerto-rico-default/
brg444
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August 03, 2015, 09:46:51 PM
 #29739


Uh... you do realize this is just some jo dad with a stupid reddit user name, not the Winklevii.

 Cheesy Cheesy Cheesy

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
conspirosphere.tk
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August 03, 2015, 09:51:26 PM
 #29740

and gold will be at $400

maybe paper gold. You'll never get any gold that you can hold nowhere near that price.
In fact if BTC goes todamoon again and PM stay depressed I will stack some more phyzz.
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