Gold collapsing. Bitcoin UP.

[molecular]

get the hell outta my way.  seriously:

This chart keeps amazing me. It's just... I mean... where will it end?

Fuck Moore, we're doubling every 2.5 months.

It's more like doubling every 1-1.5months avg over the past year, isn't it? If it's really 2.5mo, I may have some new asicminer equipment to buy...

I guesstimated this based on the last doubling: we passed 100 PH/s beginning of june. Now (mid Aug) we passed 200 PH/s. So we had half the hashrate 2.3 or so months ago.

[1713881144]

1713881144

[smoothie]

get the hell outta my way.  seriously:

This chart keeps amazing me. It's just... I mean... where will it end?

Fuck Moore, we're doubling every 2.5 months.

It's more like doubling every 1-1.5months avg over the past year, isn't it? If it's really 2.5mo, I may have some new asicminer equipment to buy...

I guesstimated this based on the last doubling: we passed 100 PH/s beginning of june. Now (mid Aug) we passed 200 PH/s. So we had half the hashrate 2.3 or so months ago.

Exahash next? Is that the next prefix?

[cypherdoc]

yeah baby; Overstock goes international!:

Accepting Bitcoin could make international payments easier for companies because it eliminates the need for currency translation. That, coupled with lower payment processing fees associated with digital money, could result in savings for retailers and consumers of up to 8 percent, Mr. Luria said.

http://dealbook.nytimes.com/2014/08/19/overstock-to-allow-international-customers-to-pay-in-bitcoin/?_php=true&_type=blogs&_php=true&_type=blogs&_r=1&

[Melbustus]

1. How am I harming anyone? I only give my opinion and look at the facts. People can make their own decision. So thank you for trying to make me out to be someone who is harming anyone at all. Please get that straight buddy.

Whoa, I never said your intentions weren't good/honest! Unfortunately that doesn't mean harm can't be done. I believe it's harmful to the crypto-ecosystem in general to push alts that offer nothing meaningful over bitcoin. It's a distraction, it muddies the waters for newbies, it makes the the entire concept of digital money look, on the surface, like a circus to MANY in mainstream media and finance, and ultimately I think a lot of people are going to lose money because of it and therefore be left with a bad taste about crypto in general. That's bad for all of us.

Apologies for coming off as if I was accusing you of *intentionally* harming anything. I was not.

2. Your bet is in my view so far out that no one knows where things will be ~5 years from now. Plus i'm not to take long term bets as it isn't my style. If you know and appreciate what I've done on the forums then you will see I've successfully won several bets and made several really good calls so my betting you proves nothing other than that I would stoop to your level, not to mention the false accusations you made above about me "harming" people.

If you had a thing in general against taking bets, I can see how you'd consider it stooping, but since you apparently DO take bets, I don't follow. Whatever.

3. Take a look back at my 2.75 year comparison and tell me I am not wrong on the values I gave you based on my own knowledge of the price action.

WE are on the same side but obviously we disagree on a "fair" metric of comparing BTC and LTC. There really isn't much else to say but the fact that you have your points and I have mine.

Oh and there is a huge difference in what you rephrased your sentence to mean in your original post above than what it actually said. We are comparing Bitcoin and Litecoin...not its supporters and how much they "fought" to do such and such. Please stay on the debated topic as BTC and LTC both do not have the consciousness to fight nor anything else besides what it was designed to do. So don't kid yourself there in your argument there.

I still don't see how you're saying anything different, or how my rephrase fundamentally changed any meaning. I stand by my statements.

Who knows the future of BTC or LTC? No one. But I can say one thing for sure that crypto currency/digital currency is not going to be going away and to believe that only ONE will exist or be "successful" is your own opinion.

I've never said only ONE will exist or be successful. I believe the market will ultimately converge to several (under 10, probably fewer than 5) having significant market-cap relative to the leading crypto. You can look through my post history if you want - IIRC, I tried to quantify this more precisely relatively recently.

...
Obviously we all will at some time disagree on points and beliefs of what will happen in the future but to make accusations that are unmerited is just childish.

I think you took my "harm" statement way too personally. Again, apologies for that.

As with Cypher I do not agree with everything he has to say but he does have some good points which is why I am a big supporter of his despite my past with him which is in the past. 

I am going to drop the topic as obviously the debate went off course from simply BTC and LTC and now is on to ...its supporters and how they fought blah blah blah. lol ....See what I did there? 

It's actually not off-topic. The alt situation is a *key* reason why many gold-bugs think bitcoin is ridiculous. I suppose the silver-lining is that until the alt market converges to rationality, more money will stay out of bitcoin, giving us all a little longer to accumulate. :/

[cypherdoc]

[smoothie]

1. How am I harming anyone? I only give my opinion and look at the facts. People can make their own decision. So thank you for trying to make me out to be someone who is harming anyone at all. Please get that straight buddy.

Whoa, I never said your intentions weren't good/honest! Unfortunately that doesn't mean harm can't be done. I believe it's harmful to the crypto-ecosystem in general to push alts that offer nothing meaningful over bitcoin. It's a distraction, it muddies the waters for newbies, it makes the the entire concept of digital money look, on the surface, like a circus to MANY in mainstream media and finance, and ultimately I think a lot of people are going to lose money because of it and therefore be left with a bad taste about crypto in general. That's bad for all of us.

Apologies for coming off as if I was accusing you of *intentionally* harming anything. I was not.

2. Your bet is in my view so far out that no one knows where things will be ~5 years from now. Plus i'm not to take long term bets as it isn't my style. If you know and appreciate what I've done on the forums then you will see I've successfully won several bets and made several really good calls so my betting you proves nothing other than that I would stoop to your level, not to mention the false accusations you made above about me "harming" people.

If you had a thing in general against taking bets, I can see how you'd consider it stooping, but since you apparently DO take bets, I don't follow. Whatever.

3. Take a look back at my 2.75 year comparison and tell me I am not wrong on the values I gave you based on my own knowledge of the price action.

WE are on the same side but obviously we disagree on a "fair" metric of comparing BTC and LTC. There really isn't much else to say but the fact that you have your points and I have mine.

Oh and there is a huge difference in what you rephrased your sentence to mean in your original post above than what it actually said. We are comparing Bitcoin and Litecoin...not its supporters and how much they "fought" to do such and such. Please stay on the debated topic as BTC and LTC both do not have the consciousness to fight nor anything else besides what it was designed to do. So don't kid yourself there in your argument there.

I still don't see how you're saying anything different, or how my rephrase fundamentally changed any meaning. I stand by my statements.

Who knows the future of BTC or LTC? No one. But I can say one thing for sure that crypto currency/digital currency is not going to be going away and to believe that only ONE will exist or be "successful" is your own opinion.

I've never said only ONE will exist or be successful. I believe the market will ultimately converge to several (under 10, probably fewer than 5) having significant market-cap relative to the leading crypto. You can look through my post history if you want - IIRC, I tried to quantify this more precisely relatively recently.

...
Obviously we all will at some time disagree on points and beliefs of what will happen in the future but to make accusations that are unmerited is just childish.

I think you took my "harm" statement way too personally. Again, apologies for that.

As with Cypher I do not agree with everything he has to say but he does have some good points which is why I am a big supporter of his despite my past with him which is in the past. 

I am going to drop the topic as obviously the debate went off course from simply BTC and LTC and now is on to ...its supporters and how they fought blah blah blah. lol ....See what I did there? 

It's actually not off-topic. The alt situation is a *key* reason why many gold-bugs think bitcoin is ridiculous. I suppose the silver-lining is that until the alt market converges to rationality, more money will stay out of bitcoin, giving us all a little longer to accumulate. :/

TL;DR - comparing Bitcoin and litecoin is not the same as comparing Bitcoin's supporters to litecoin's and how they helped pave the way.

/enddebate

[cypherdoc]

let ANY altcoin or gubmint/bank try and match this level of worldwide support and security as derived from the ppl of all nations:

[solex]

Wondering whether 21E6 is now on-stream:

I just read this:

Secretive startup 21E6, another mining-machine seller, is believed to be backed by some of the wealthiest people in Silicon Valley; its co-founder is Balaji Srinivasan, a former Stanford University professor and data-mining expert.

(21e6 refers to the maximum of 21 million bitcoins).

Searching SEC forms, we find they raised $5 million:
http://marketbrief.com/21e6-llc-form-d-sec-filng-000001

With apparently 5 co-founders:
http://www.linkedin.com/pub/matt-pauker/0/8b/7a7
http://www.linkedin.com/in/balajissrinivasan
http://www.linkedin.com/in/nigeldrego
http://www.linkedin.com/in/dfiru
http://www.linkedin.com/pub/veerbhan-kheterpal/6/20b/6a7

3 of these 5 persons come from a company (PDF Solutions) that "offers solutions that are designed to enable clients to lower costs of IC design and manufacture, enhance time to market, and improve profitability by addressing design and manufacturing interactions from product design to initial process ramps to mature manufacturing operations".

Domains 21e6.com and .net and .org all registered around March/April 2013.

[Melbustus]

1. How am I harming anyone? I only give my opinion and look at the facts. People can make their own decision. So thank you for trying to make me out to be someone who is harming anyone at all. Please get that straight buddy.

Whoa, I never said your intentions weren't good/honest! Unfortunately that doesn't mean harm can't be done. I believe it's harmful to the crypto-ecosystem in general to push alts that offer nothing meaningful over bitcoin. It's a distraction, it muddies the waters for newbies, it makes the the entire concept of digital money look, on the surface, like a circus to MANY in mainstream media and finance, and ultimately I think a lot of people are going to lose money because of it and therefore be left with a bad taste about crypto in general. That's bad for all of us.

Apologies for coming off as if I was accusing you of *intentionally* harming anything. I was not.

2. Your bet is in my view so far out that no one knows where things will be ~5 years from now. Plus i'm not to take long term bets as it isn't my style. If you know and appreciate what I've done on the forums then you will see I've successfully won several bets and made several really good calls so my betting you proves nothing other than that I would stoop to your level, not to mention the false accusations you made above about me "harming" people.

If you had a thing in general against taking bets, I can see how you'd consider it stooping, but since you apparently DO take bets, I don't follow. Whatever.

3. Take a look back at my 2.75 year comparison and tell me I am not wrong on the values I gave you based on my own knowledge of the price action.

WE are on the same side but obviously we disagree on a "fair" metric of comparing BTC and LTC. There really isn't much else to say but the fact that you have your points and I have mine.

Oh and there is a huge difference in what you rephrased your sentence to mean in your original post above than what it actually said. We are comparing Bitcoin and Litecoin...not its supporters and how much they "fought" to do such and such. Please stay on the debated topic as BTC and LTC both do not have the consciousness to fight nor anything else besides what it was designed to do. So don't kid yourself there in your argument there.

I still don't see how you're saying anything different, or how my rephrase fundamentally changed any meaning. I stand by my statements.

Who knows the future of BTC or LTC? No one. But I can say one thing for sure that crypto currency/digital currency is not going to be going away and to believe that only ONE will exist or be "successful" is your own opinion.

I've never said only ONE will exist or be successful. I believe the market will ultimately converge to several (under 10, probably fewer than 5) having significant market-cap relative to the leading crypto. You can look through my post history if you want - IIRC, I tried to quantify this more precisely relatively recently.

...
Obviously we all will at some time disagree on points and beliefs of what will happen in the future but to make accusations that are unmerited is just childish.

I think you took my "harm" statement way too personally. Again, apologies for that.

As with Cypher I do not agree with everything he has to say but he does have some good points which is why I am a big supporter of his despite my past with him which is in the past. 

I am going to drop the topic as obviously the debate went off course from simply BTC and LTC and now is on to ...its supporters and how they fought blah blah blah. lol ....See what I did there? 

It's actually not off-topic. The alt situation is a *key* reason why many gold-bugs think bitcoin is ridiculous. I suppose the silver-lining is that until the alt market converges to rationality, more money will stay out of bitcoin, giving us all a little longer to accumulate. :/

TL;DR - comparing Bitcoin and litecoin is not the same as comparing Bitcoin's supporters to litecoin's and how they helped pave the way.

/enddebate

<reopendebate>
TL;DR - Litecoin rode bitcoin's coat-tails while people misunderstood that tweaking blocktime, supply, and mining alg are immaterial long-run. Now people are a little wiser and litecoin is therefore diverging downward relative to bitcoin.
</reopendebate>

[Melbustus]

Great chart. Would make it my avatar if I could.

[cypherdoc]

https://twitter.com/cypherdoc2/status/501933480511811586

[vuduchyld]

yeah baby; Overstock goes international!:

Accepting Bitcoin could make international payments easier for companies because it eliminates the need for currency translation. That, coupled with lower payment processing fees associated with digital money, could result in savings for retailers and consumers of up to 8 percent, Mr. Luria said.

http://dealbook.nytimes.com/2014/08/19/overstock-to-allow-international-customers-to-pay-in-bitcoin/?_php=true&_type=blogs&_php=true&_type=blogs&_r=1&

Wow...EIGHT percent?  My guess is that most retailers don't have an 8% net profit margin.  That's seriously significant!

[cypherdoc]

anyone know how to get a hold of Mike Hearns?

[vuduchyld]

This guy? https://www.linkedin.com/profile/view?id=20354660&authType=OPENLINK&authToken=dy-m&locale=en_US&srchid=18634521408506500851&srchindex=1&srchtotal=12&trk=vsrp_people_res_name&trkInfo=VSRPsearchId%3A18634521408506500851%2CVSRPtargetId%3A20354660%2CVSRPcmpt%3Aprimary

[cypherdoc]

meanwhile, the USD index $DXY continues it's breakout to the upside.  no wonder gold and silver are suffering.  question is: will Bitcoin continue to suffer as well?

[NewLiberty]

I think you took my "harm" statement way too personally. Again, apologies for that.

"unintended consequences" might have been closer to your meaning?
These are difficult to avoid.
One thing is certain, the only way to do nothing wrong is to do nothing. so the effort should be appreciated.

LTC is/was the backstop for BTC, just in case, and may have fixed some of the early problems.  It provided the test bed for some new ideas and showed the way for other experimentation.
It will always have a place in my heart for that, even if someday not in my wallet.
We gain little from fighting each other, especially when there are so many outside our little world that would do that for us.

[dishwara]

Where you get the graph?

[User705]

get the hell outta my way.  seriously:

This chart keeps amazing me. It's just... I mean... where will it end?

Fuck Moore, we're doubling every 2.5 months.

It's more like doubling every 1-1.5months avg over the past year, isn't it? If it's really 2.5mo, I may have some new asicminer equipment to buy...

Wait until it's closer to production costs.  It's getting there.

[rpietila]

The alt situation is a *key* reason why many gold-bugs think bitcoin is ridiculous.

The commodities market is a *key* reason why many fiat-bugs think gold is ridiculous.

[NWO]

BTC is a safer bet than gold imo