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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1957258 times)
justusranvier
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July 02, 2014, 08:40:54 AM
 #9061

Peter R.

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From the feedback control theory perspective, bitcoin seems to represent a pole in the right half-plane of the world's monetary system.

... this was gold Smiley

For those who didn't study control theory http://en.wikipedia.org/wiki/Nyquist_stability_criterion ...
Speaking of feedback control theory, it's too bad Satoshi didn't have more experience in that area. If he'd ever tuned a PID controller, then maybe the difficulty formula would have included both a P and an I term.

Not that 8 minutes block intervals are necessarily a bad thing, of course.
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marcus_of_augustus
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July 02, 2014, 10:21:12 AM
 #9062

Peter R.

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From the feedback control theory perspective, bitcoin seems to represent a pole in the right half-plane of the world's monetary system.

... this was gold Smiley

For those who didn't study control theory http://en.wikipedia.org/wiki/Nyquist_stability_criterion ...
Speaking of feedback control theory, it's too bad Satoshi didn't have more experience in that area. If he'd ever tuned a PID controller, then maybe the difficulty formula would have included both a P and an I term.

Not that 8 minutes block intervals are necessarily a bad thing, of course.

Maybe he did and decided that "perfect" is the enemy of the "good enough for now"? ... and pull requests on tangible improvements can theoretically still make it through the political scrum on github/bitcoin?


cypherdoc
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July 02, 2014, 01:36:12 PM
 #9063

Draper taking the bitcoin overseas sends a dual message.

1. More opportunity away from the US
2. he keeps them outside the jurisdiction of the US gov't
cypherdoc
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July 02, 2014, 01:52:54 PM
 #9064

Draper's  probably headed to Argentina.
Bagatell
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July 02, 2014, 01:57:40 PM
 #9065

Draper's  probably headed to Argentina.

Or Bulgaria. In fact any number of countries with "weakening currencies".
cypherdoc
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July 02, 2014, 02:04:05 PM
 #9066

"Of course, no one is totally secure in holding their own country’s currency. We want to enable people to hold and trade bitcoin to secure themselves against weakening currencies."

~21M USD - - > 30000 BTC = LOL
kehtolo
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July 02, 2014, 02:04:15 PM
 #9067

Draper's  probably headed to Argentina.

Or Bulgaria. In fact any number of countries with "weakening currencies".

Interesting that you mentioned Bulgaria, as I was just about to post an article about bank runs there.

http://www.economist.com/blogs/economist-explains/2014/07/economist-explains

It seems that they have not actually been caused by economics, but by a shadowy campaign of scaremongering..
'But still.. people will fear, as they remember previous crashes and bank runs in the 90's

The next 24 hours are critical!
cypherdoc
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July 02, 2014, 02:09:41 PM
 #9068

Boom
Pruden
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July 02, 2014, 02:30:37 PM
 #9069

"Of course, no one is totally secure in holding their own country’s currency. We want to enable people to hold and trade bitcoin to secure themselves against weakening currencies."
Sounds like Thiel, the founder of PayPal, 15 years ago. We know how that turned out.  Wink
Melbustus
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July 02, 2014, 03:49:40 PM
 #9070

"Of course, no one is totally secure in holding their own country’s currency. We want to enable people to hold and trade bitcoin to secure themselves against weakening currencies."
Sounds like Thiel, the founder of PayPal, 15 years ago. ...


Yeah, it really does. Too bad Byzantine Fault Tolerance wasn't solved until 2008.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
cypherdoc
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July 02, 2014, 04:08:50 PM
 #9071

"The fact that you have 51 countries (represented at the conference) and all of them have something positive to say about developments in their countries—maybe this helped show that bitcoin is bigger than just the U.S., China and England," said Micky Malka, a general partner at venture capital firm Ribbit Capital and a board member of conference host Bitcoin Foundation."

http://www.cnbc.com/id/101728070
cypherdoc
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July 02, 2014, 04:22:49 PM
 #9072

someone need an new avatar?

Melbustus
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July 02, 2014, 04:35:01 PM
 #9073

This would be my avatar if theymos ever fixes the avatar-change security issue:



But yeah, that Draper pic is hilarious.

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
Adrian-x
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July 02, 2014, 04:39:14 PM
 #9074

Draper taking the bitcoin overseas sends a dual message.

1. More opportunity away from the US
2. he keeps them outside the jurisdiction of the US All gov't
FTFU

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
cypherdoc
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July 02, 2014, 04:41:34 PM
 #9075

Draper taking the bitcoin overseas sends a dual message.

1. More opportunity away from the US
2. he keeps them outside the jurisdiction of the US All gov't
FTFU

well, his new business has to land some place.

hopefully somewhere that lays hands off.
cypherdoc
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July 02, 2014, 04:44:44 PM
 #9076

"Russia Softens Stance on Bitcoin"

http://online.wsj.com/articles/russia-softens-stance-on-bitcoin-1404305139

i once said that gov't and CB's will be just as schizophrenic as day traders around here when it comes to Bitcoin.  they just don't know what to do...
Melbustus
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July 02, 2014, 04:52:09 PM
 #9077

"Russia Softens Stance on Bitcoin"

http://online.wsj.com/articles/russia-softens-stance-on-bitcoin-1404305139

i once said that gov't and CB's will be just as schizophrenic as day traders around here when it comes to Bitcoin.  they just don't know what to do...


Part of me wants the world's most oppressive regimes to be steadfastly anti-bitcoin. That'd potentially generate more "invest in what China bans, because it bans the most powerful stuff" mentality (FB, Google, Twitter, open internet, etc).

Bitcoin is the first monetary system to credibly offer perfect information to all economic participants.
justusranvier
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July 02, 2014, 04:53:44 PM
 #9078

I remember when Slashdot used to be cool.

Now it's nothing buy paid marketers and shills spewing venom and misdirection in the comment sections:

http://news.slashdot.org/story/14/07/02/1546224/investor-tim-draper-announces-he-won-silk-road-bitcoin-auction
cypherdoc
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July 02, 2014, 04:54:29 PM
 #9079

the divergence carnage continues:

cypherdoc
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July 02, 2014, 05:02:58 PM
 #9080

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