Topic: Gold collapsing. Bitcoin UP. - page 304. (Read 2032266 times)

Sorry to break in. It is not that we (bitcoiners, I) necessarily want bitcoin in its current form (or in its immediate next form) to be some kind of law of the land, backed by good will of the users. No. What I want is free choice, private money of all sorts possible. The market will sort out the best, and probably, if we look to submarkets in general for examples, not only the best according to some standard or to some majority will take it all, there are always contenders.

The main thing is to break away from laws restricting types of money, including soft money controls which are everywhere. I think that only the general market can make that happen, now that we have money types that can navigate around these monopolies. It will happen, it just takes time. If it is large blocks or small blocks, I think it doesn't matter much, because the difference is so small that bitcoin will not split into two money types for only this reason.

This reminded me of Intrade. What a loss.

@vokain You have probably seen this already, but in case not: enjoy!
BBC - The Code - The Wisdom of the Crowd
https://www.youtube.com/watch?v=iOucwX7Z1HU

PS. Interesting how every single block size limit poll, since the first one in Feb 2013, has had majority support for the increase.

The Internet is essentially the mass of masses. Extrapolate the audience averaging effect in the popular game show Who Wants to Be a Millionaire:

"But there’s a third option: You can use your “Ask-the-Audience" life line. You can poll the entire studio audience on the four possible answers, and their responses are instantaneously assembled into a bar graph. Invariably, this graph shows one overwhelming choice, and with rare exceptions the audience is right. “I’ll trust the audience,” you tell Regis. “Final answer.”

Good move. But why? No person in the audience is any more likely than you to know where grapes come from, yet the collective intelligence of the group is almost always a better bet than your best guess. Psychologists are very interested in this perplexing statistical phenomenon. If the crowd is always wiser than any individual, what does that say about the way knowledge is stored and arranged in our minds? And can it help us make better choices, even beyond game shows?

...

That’s actually what Vul and Pashler found when they ran the experiment. As reported in the July issue of the journal Psychological Science, the average of two guesses for any individual participant was better than either guess alone, regardless of the time between guesses. So polling the “crowd within” does indeed yield a statistically more accurate answer. What’s more, this internal crowd gets more independent-minded with time: Contestants who were asked to second-guess themselves three weeks later benefited even more by averaging their two guesses than did those who second-guessed themselves immediately. The psychologists speculate that the cognitive pull of the original answer loses its power and allows more mental flexibility over time."
http://www.psychologicalscience.org/onlyhuman/2008/06/polling-crowd-within.cfm

This is not a racial stereotyping, this is a cultural stereotyping. It's actually backward thinking to confuse race and culture.

Wouldn't the definition of "Bitcoin proper" be the one which has the most capital committed to it?

How could the coin of a few hobbiest have more capital than the VCs, Peter Thiel, Winkelvosses, Larry Summer's club of financial elites, the masses in Paypal, Coinbase, the merchants using Peter Thiel's Bitpay, 21 Inc + Samsung, etc?

I just can't fathom how you can rationalize in your mind (what appears to me to be a delusion) that some hobbiests and some fraction of the goldbugs can defy all that inertia?

What would differentiate your fork causing it to attract a significant capital base? If you claim no inflation, then Gavincoin will claim it too. Etc..

Capital is actually the productive capacity of the people, but in this case you don't have millions (nor even 1000s) of users independently working on programming Bitcoin, but rather mostly speculators boarding the wealth effect (soon to become greater fool theory) freight train. The VCs are paying most of the developers involved in Bitcoin projects.

Okay time for me to step away and watch the outcome.

Right, the 7 most important/urgent (as determined by the fee market) transactions of the world's population are processed every second.

I wish cypher, Hearn, and Gavin good luck with Bitcoin XT in the alt subs.

It's important for people to have cheaper Bitcoin-like transfers available as they start to get priced out of Bitcoin proper.

But TBH, the first thing I thought of was 'Bitcoin SX.'   

Why not just stick with good old "GavinCoin?"  I'd buy GavinCoins, but not Bitcoin SXes XTs.

To all those who I offended with my "conspiratorial" perspective, I do not dislike any of you (as far I can see so far). Your world view is not the same as mine at this juncture in history (e.g. we might have been more aligned had we met in the 1990s when I was about high tech and there weren't these dark totalitarian clouds on the horizon). I believe you are deluded and you think the same of me. The future will prove who was correct. Good luck.

This might be my last post...


Alternatively readers may send me your Bitmessage address in a private message. I can't promise which day I might contact any specific person via Bitmessage, so you would need to run it every other day indefinitely. It is unfortunate, but this is the best there for anonymous communication at this time. And I am very rushed, so my communications need to be prioritized.

Please read my recent posts and ask yourself if you agree with my stance on reality. If so and you want to encourage me to work on a solution (as I contemplate the decision), then feel free to offer to communicate with me in Bitmessage.

Note I am not lacking people interested in encouraging me, so perhaps readers should only request to communicate with me ongoing if they feel they can help.

Those who miscategorize Common Sense as disdain have lost common sense (ostensibly because they've been deluded by various propaganda as I have explained in the prior few posts).

It was written with the same dripping disdain that I'm arguing against to make a point. Probably not a good idea.

Your George Soros+Rockefeller zombified programmed politically correct brain is so stupefied that you didn't even realize he wrote nothing about race.

And he didn't even write a derogatory comment about a religious group. Rather he described their common mode of head dressing.

This is important for me to note because it is yet another example of how Bitcoin supporters are irrational and deluded.

Don't appreciate the racial stereotyping. Uncharacteristic for a forward thinker such as yourself.

yeah took me a while to find the download button with all the bling on the page. The site does not have a professional and efficient presentation.

The new name is much better.

ah, thanks. I was on that page but thought the video was the tutorial.

Thank you Cypherdoc. You put a lot of effort into that post and it makes your stance clear. I need to be reminded of that noble and inspirational perspective, although I was exposed to it before. The idea that information is spreading now with the internet and thus the masses will suddenly for the first time in human history change how they behave. Ya know, "it is different this time" has always been wrong for 6000 years since Mesopotamia.

Did you know that Napoleon won not because of his military genius but because (the Pen Is Mightier Than the Sword so) he promulgated the idealism that he was liberating the conquered areas from the oppression they were suffering. Later on when it became apparent tha Napoleon was the same oppression they were trying to get rid of, Napoleon began to lose battles.

But never did the masses succeed in eliminating the elite and system of oppression. Some blue bloods were beheaded, but the upper 0.0001% banksters were not touched (they didn't stick around during the French Revolution and they continued on under Napoleon).

The elite always co-op every mass movement. Why? Because collectivism is a power vacuum. It demands that an elite come into that entropic vacuum.

You can never win with the masses. They will always be wrong, for as long as they demand to organize themselves in collectives. And I have explained upthread that Bitcoin is power vacuum collective, i.e. it can't resist centralization.

So as nice as your theory sounds, it is incorrect. I wish you could agree, but alas some people need to be wrong (or let's say diverse objectives have to be fulfilled) to make a market, because there needs to be both a buyer and seller.

I do agree the general spread of technology improves the quality of life of the people, so there is a benefit to spreading these new technologies which can also be used to enslave us. My point is only that you won't get the revolutionary outcome via Bitcoin rather just more of the same oppression (and worse because of the peaking totalitarianism coming).

For the upper middle class, the only way to avoid expropriation is to find a frontier, technology and a market that is sufficiently large (noting that geographical frontiers and gold are no longer an option), which is can not be centralized, which does not require any ideological groupthink, and in which rather the individual incentives are aligned with no power vacuum.

P.S. the recent examples you cite as cases of the masses rising up were all engineered by the banksters. Do some research. Start with the Benghazi incident and Hillary Clinton's private email server. Dude they have the brains of the masses zombified with Facebook. They can put up anything there on Facebook and drive an overthrow of a government by releasing some corruption via Wikileaks, etc.. There has been a long-standing plan to foment chaos in the Middle East to drive the end of petro-dollar as they prepare the global economic collapse to drive the political result of the one world reserve currency and global Technocracy. The Middle East had to be eliminated as potential safe haven for capital.

The central bank and nation-states reputations are being destroyed on purpose by the banksters in order to usher in the one-world reserve currency solution to that morass.

Larry Summers would not cross over from a $3+ trillion black budget to a measily $10 billion marketcap because he has banked his entire life on the fact that the elite have never lost control ever. The names change, but the paradigm of the Iron Law of Political Economics have no changed in all of recorded human history.

He knows damn well that the elite are in control of Bitcoin and DEEP STATE think tanks know very well that you will fall for these delusions that you have.

In the case critical thinkers such as Peter R, etc, I presume these guys refuse to entertain information they can't prove as in equivalent to a scientific laboratory experiment. They fail to correlate the repeating pattern of history thus they they don't see the corroborating evidence. Thus they remain uncommitted until it is too late to do anything. Sad.

i think you underestimate the common man and their ability to discern what the hell is going on in today's world.  i've sprinkled hints throughout posts but we generally ignore each other so i don't blame you for missing it.  understanding hard money is not hard.  i think most ppl innately understand that repeatedly printing up a bunch of money to solve a debt problem isn't a solution.  borrowing more money is not a solution for a borrowing problem.  there is also plenty of evidence TPTB are losing their grip.  i see evidence of this everywhere.

the internet combined with smartphones is contributing to this more widespread awareness and education of what's going on in the world.  it used to be taboo reading your smartphone out in public.  now it's acceptable and you're even considered unimportant if you don't check it every once in a while.  the enhanced connectivity of ppl round the world allows for the free exchange of ideas and information never seen before.  we can now educate each other.  this is exactly what we're doing here in this thread.  for a bunch of towel-head Muslims to rise up in revolution around Facebook & Twitter communiques in Egypt and Libya back in the Arab Spring is one of a number of signs that the masses aren't going to put up with TPTB bullshit anymore.  corruption and fraud need to hide in the dark.  it hates transparency.  the internet is shining a bright light upon TPTB.  they don't like it and the more they complain (like Mitch McConnell, James Comey of FBI, Clapper of NSA, Cameron of UK) the more i know we're on the right path to disruption.

central bank reputations have taken a beating the last 6 yrs.  anyone who follows the financial mkts, like i do, can see evidence of their manipulation everywhere.  everyone knows it's ludicrous to see stocks gyrate wildly immediately after an FOMC announcement.  sidhujag keeps talking about staying long the stock mkt "until the masses" come in.  as if they are going to be sheep once again.  well, i don't think that's happening this time.  and if i'm right about stocks rolling over right now as per my charts, guys like him who've always assumed the idiot on the street (avg Joe investor) is going to buy from them at 32000 are going to be in for a painful realization that the game has now leveled out due to less information asymmetry.  60% of American in fact do not own stocks (which is way down) and it doesn't look like they're going to anytime soon as they've learned from 2 major crashes of >50% in the last 15 yrs along with a real estate crash.  this is also why 80% of Americans voted against TARP despite the propaganda.

come June 1 we'll find out if the NSA will retain their mass data collection program.  it will be a sad day if they prevail but there's alot of lobbying going on right now and i'm hopeful it will not be extended.  either way, guys like Glenn Greenwald, Eric Snowden, and many others continue to fight back.  they are hard to ignore and fundamentally the NSA and TPTB will find it harder and harder to defend their policies out in public.  they don't realize how stupid they sound and most ppl realize this.

and simply from a numerical standpoint, i don't see how TPTB can control all of us especially if i'm right about the increased generalized awareness of the public.  i often fly and like to look down across the landscape at all the millions of homes and dwellings scattered around.  i imagine all of these dwellings being connected by the internet and ppl talking, texting, emailing freely their opinions and concerns.  i don't think there is anyway a small # of elites with their police can stop everyone.  it's impossible.  this is why torrenting, file sharing and streaming continue to go on unchecked despite persistent and expensive music and Hollywood campaigns to snuff this out.  the disruption of Wherehouse, Barnes & Noble, Borders, Encyclopedia Brittanica is evidence of this.  the rise and increasing popularity of Linux, Android, and open source in general is good.

Bitcoin is a major part of this revolution and b/c it is open source and adheres to the principles of sound money, i don't see any way a Digital Kill Switch can keep it away from the general population.  it is too important to us to allow that.  i simply see guys like Larry Summers adhering to his own principle of greed in saving/protecting his built up fortune by coming to Bitcoin b/c he sees the writing on the wall; not as some allegiance to his fellow elites as you claim.  they are all greedy bastards and they realize that the zero bound on interest rates is the end of the line.  negative interest rates are sure to spark a revolution.  the smart ones are abandoning ship.  they've had their run, they know it, and the smart thing is to pivot in the other direction before their brethren jump ship.

that's alot of rambling.  i'm tired and i don't usually like to compose this much shit.  most of what i have to say is in my earlier posts in 2011.

1. You seem to not be aware that $billions in capital (a lot of it not invested in BTC but rather VC investments in the space) is invested on the future of Bitcoin, and to make the future uncertain causes capital to become risk adverse. Gavin can't wait, because capital has to plan out the future.

2. You seem to assume centralization[1] can't solve every technical issue of scaling higher transaction rates. Wasn't Visa scale the initial goal? Is Visa not centralized? ("Damn it, but we want decentralization and we will early adopters will fork and short NWOcoin" is not a logical retort)

Come on man, come back to reality.

You seem to have developed an overconfidence from your early adopter decision, which you are projecting as correct analysis of the future. But where is the logic?


You early adopters were bought at a very small cost by the banksters to help them launch the NWOcoin trojan horse. You are now expendable. They have already the inertia they need.

[1] IBLT is a fancy sugar coating on centralization to make geeks wet their pants again (see their Jesus) and be fooled, as they were with the original DEEP STATE whitepaper.

700 if you remove the %

0.0000001% / 100% x (7x10^9 people)  = 7 people.

Sorry to be pedantic; I just found iCEBREAKER's comment humorous because it meant that supporting more than 7 people using bitcoin wasn't supportable.   Our scalability problems aren't that challenging . I'm sure we can support at least 8.