Gold collapsing. Bitcoin UP.

[tvbcof]

isnt there supposed to be a consensus amongst the network before any fork to be effective?

Ya, but 'the network' is, unhappily, implemented as an increasingly small and centralized group of miners by my read.  'Consensus' for someone looking at a multi-million dollar mining facility being appropriated is basically 'do what the fuck the host tells you to do.'  If that means run the 'official' protocol issued by the 'official' bitcoin.org governing body, that's what most miners will likely do.

One of the practical advantages of gold is that it is fairly immune from 'good ideas' necessary to scale up.  In physical form at least.

[FNG]

One of the practical advantages of gold is that it is fairly immune from 'good ideas' necessary to scale up.  In physical form at least.

Gold is a great hedge for bitcoin either not panning out the way we think it will or Governments around the world with large holdings disagreeing with the U.S and bidding the price up to clear debts.

Bitcoin + Gold = freedom from monetray bs

[Odalv]

http://www.blockstream.com/

would be interested in hearing what Gavin thinks of sidechains specifically:

https://twitter.com/gavinandresen/status/524975947356061697

I like sidechians. It can solve a lot of problems.

[msin]

http://www.blockstream.com/

would be interested in hearing what Gavin thinks of sidechains specifically:

https://twitter.com/gavinandresen/status/524975947356061697

I like sidechians. It can solve a lot of problems.

Gavin should be very pro-sidechains.  It solves his need for scalability. 

[Odalv]

http://www.blockstream.com/

would be interested in hearing what Gavin thinks of sidechains specifically:

https://twitter.com/gavinandresen/status/524975947356061697

I like sidechians. It can solve a lot of problems.

Gavin should be very pro-sidechains.  It solves his need for scalability. 

Many plug-ins can be installed on top of bitcoin.
e.g.  sidechain for local economy (town, country) .. "main" blockchain can remain small

[justusranvier]

sidechain for local economy (town, country)

This is actually a great idea.

Local currencies should be given their chance to shine so that their inherent brokenness can be made obvious to everyone.

Kind of like what Freicoin did for the concept of demurrage.

[Odalv]

sidechain for local economy (town, country)

This is actually a great idea.

Local currencies should be given their chance to shine so that their inherent brokenness can be made obvious to everyone.

Kind of like what Freicoin did for the concept of demurrage.

buy coffe and newspaper in local sidechain and  keep savings in bitcoin blockchain (or even Quantum computer resistant sidechain :-) )

[justusranvier]

buy coffe and newspaper in local sidechain and  keep savings in bitcoin blockchain (or even Quantum computer resistant sidechain :-) )

Good luck with that.

[cypherdoc]

http://www.blockstream.com/

would be interested in hearing what Gavin thinks of sidechains specifically:

https://twitter.com/gavinandresen/status/524975947356061697

I like sidechians. It can solve a lot of problems.

Gavin should be very pro-sidechains.  It solves his need for scalability. 

Many plug-ins can be installed on top of bitcoin.
e.g.  sidechain for local economy (town, country) .. "main" blockchain can remain small

how do you secure it?

[Odalv]

http://www.blockstream.com/

would be interested in hearing what Gavin thinks of sidechains specifically:

https://twitter.com/gavinandresen/status/524975947356061697

I like sidechians. It can solve a lot of problems.

Gavin should be very pro-sidechains.  It solves his need for scalability.  

Many plug-ins can be installed on top of bitcoin.
e.g.  sidechain for local economy (town, country) .. "main" blockchain can remain small

how do you secure it?

This bitcoins/sidechain will be only for daily expenses. (you are not forced to use it, there will be fast confirmation time. And you can easy fund(and withdraw) to main chain. No other party is needed. You own the private keys. It is protocol feature)

Edit:
Local merchant will do PoW to prevent double spent. They will not mine new bitcoins.

[guy_wonderful]

We (I) are shorting gold from 2008
Target 200-400 for now.

[guy_wonderful]

We (I) are shorting gold from 2008
Target 200-400 for now.

Ohh and I forgot to add importantly, that "and it's seems nothing special".

[dEBRUYNE]

We (I) are shorting gold from 2008
Target 200-400 for now.

So you're underwater for around 6 years?

[fonzie]

We (I) are shorting gold from 2008
Target 200-400 for now.

So you're underwater for around 6 years?

He´s a professional shorter, trust him!

Back at short!
That was soon, that's sometimes hapends.

Short at 351
Stop at 385

Target 200.

short 327
stop 352
target same

Fuck it , i think  your newest prediction will finally gone work out!

Finaly in short. Great time to go to short right now - to sell.
Very short position, with great stops.


Position Short at 376
STOP 388
Target 200

When aproach target will post next target.


Second position.
"Mid therm" (if so can be called at btc markets)
Short at 376
Stop 418
Target 200

[Odalv]

http://www.blockstream.com/

would be interested in hearing what Gavin thinks of sidechains specifically:

https://twitter.com/gavinandresen/status/524975947356061697

I like sidechians. It can solve a lot of problems.

Gavin should be very pro-sidechains.  It solves his need for scalability.  

Many plug-ins can be installed on top of bitcoin.
e.g.  sidechain for local economy (town, country) .. "main" blockchain can remain small

how do you secure it?

Answer #2
5 companies or individuals create their own sidechain  (they know each others, and they sign some agreement.)

- all transactions in their sidechain must be signed with all 5 parties (POS) -> in order to add in block
- working hours 10 am - 6 pm

Edit:
a)
 - "5 companies sidechain" do not have to be public (no one knows this sidechan exists). They only lock some bitcoins into "sidechain" ... only 5 signatures can unlock bitcoins in main chain
 - they can offer to their friends/customers service what moves bitcoins  in 1 sec to any other of their customer  (only 5 signatures are needed to confirm transaction in sidechain)

[cypherdoc]

We (I) are shorting gold from 2008
Target 200-400 for now.

Ohh and I forgot to add importantly, that "and it's seems nothing special".

you were 3 yrs too soon.

[solex]

http://www.blockstream.com/

would be interested in hearing what Gavin thinks of sidechains specifically:

https://twitter.com/gavinandresen/status/524975947356061697

I like sidechians. It can solve a lot of problems.

Gavin should be very pro-sidechains.  It solves his need for scalability.  

Many plug-ins can be installed on top of bitcoin.
e.g.  sidechain for local economy (town, country) .. "main" blockchain can remain small

how do you secure it?

Answer #2
5 companies or individuals create their own sidechain  (they know each others, and they sign some agreement.)

- all transactions in their sidechain must be signed with all 5 parties (POS) -> in order to add in block
- working hours 10 am - 6 pm

IBLT kicks most of the scalability argument for sidechains into touch and out of bounds.

[guy_wonderful]

We (I) are shorting gold from 2008
Target 200-400 for now.

So you're underwater for around 6 years?

Who cares. This position is planned more than for decade (with stops in around 7k (LOL)). if for some reason gold will climb to 3000 tomorow not even one of my eyebrows will flinch.
Typical long term trade.

[Odalv]

http://www.blockstream.com/

would be interested in hearing what Gavin thinks of sidechains specifically:

https://twitter.com/gavinandresen/status/524975947356061697

I like sidechians. It can solve a lot of problems.

Gavin should be very pro-sidechains.  It solves his need for scalability.  

Many plug-ins can be installed on top of bitcoin.
e.g.  sidechain for local economy (town, country) .. "main" blockchain can remain small

how do you secure it?

Answer #2
5 companies or individuals create their own sidechain  (they know each others, and they sign some agreement.)

- all transactions in their sidechain must be signed with all 5 parties (POS) -> in order to add in block
- working hours 10 am - 6 pm

IBLT kicks most of the scalability argument for sidechains into touch and out of bounds.

Sidechain offers much more than scalability.

- Assurance contracts
- Time-shifted fees
- Demurrage
- Subsidy
- Co-signed SPV proofs
- SNARKs
- ...

and all possible combination  :-) (endless opportunities)

Edit:
While main protocol intact. No one have to bother with sidechain. Only use if you like feature of sidechain.

[guy_wonderful]

I can give you guys another great prediction.

USDRUB 65
ANd as always , nothing special.

Im longing right from 31, from last year.