Author

Topic: Gold collapsing. Bitcoin UP. - page 389. (Read 2032286 times)

legendary
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
May 03, 2015, 10:02:16 PM
i'm going to lock this poll by tomorrow and put up a new one given Gavin's "announcement" so get your voting in now.

How about all of the above, stop wasting gavin's precious time, and do it sooner to give ppl some confidence that micropayments will be economically viable so we can get on with building stuff on the blockchain. Stuff that actually delves into areas where fiat cannot go rather then merely providing small benefits to those who have already set up wallets and little to no benefit to those who must do the whole education thing and then the time inefficient fiat btc xfer btc fiat circus.

If Bitcoin's precious blockchain has no greater destiny than to be used for an eternal record of inconsequential "micropayments" the project has no future.

Stop trying to enable the fluffy VC daydream of 'enabling tipping economies' and worry about macropayments.

This is revolution against the BIS, etc. and a chance to evolve past gold as humanity's default store of value, not a call to replace Reddit gold/Dogecoin/TipBot.

The places "where fiat cannot go" that matter are brain/paper/hardware wallets, multi-sig, and realtime auditing, not giving some Redditard 0.000000001 BTC for confirming your bias with a snarky comment.

Too bad we have to wait an entire year to watch Mircea shit all over GavinCoin.  It's worse than waiting for the next season of Walking Dead!
legendary
Activity: 1246
Merit: 1010
May 03, 2015, 09:40:01 PM
i'm going to lock this poll by tomorrow and put up a new one given Gavin's "announcement" so get your voting in now.

How about all of the above, stop wasting gavin's precious time, and do it sooner to give ppl some confidence that micropayments will be economically viable so we can get on with building stuff on the blockchain. Stuff that actually delves into areas where fiat cannot go rather then merely providing small benefits to those who have already set up wallets and little to no benefit to those who must do the whole education thing and then the time inefficient fiat btc xfer btc fiat circus.
legendary
Activity: 1764
Merit: 1002
May 03, 2015, 09:23:10 PM
i'm going to lock this poll by tomorrow and put up a new one given Gavin's "announcement" so get your voting in now.
legendary
Activity: 1036
Merit: 1000
May 03, 2015, 08:29:06 PM
I wonder how many of those who voted for a graduated increase realize that the blocksize limit isn't actually limiting anything right now. It's a limit that will eventually become a factor. Right now if it were removed nothing special would happen.

That's a bit overstated. It already slows things down when there are long (random) block times because all the accumulated transactions can't fit in the first block. Allowing all (or at least more) of the transactions into the first block doesn't increase bandwidth or storage requirements at all, but does improve service. There is a small centralizing effect though (rewards miners with higher bandwidth).
 
This has happened to me twice. I have the worst luck on block times. Both were close to an hour.

Hmm, that's interesting. Thanks for the correction.
legendary
Activity: 1036
Merit: 1000
May 03, 2015, 08:28:23 PM
you're right that it isn't limiting anything right now.  but if the market gets the sense that Gavin is going to get his way (and i think he will) it could unleash the next wave of speculation into the market, and along with it, a new wave of tx volume simply from everyone piling in frontrunning.

the way the charts are lining up it seems to me that the market is looking for any reason at all to rally hard.

That would be a welcome development. I do get the sense that some investors have developed misgivings because of the blocksize issue, and if that's the case certainly a step toward solving that should spur some investment.

I still say just let exchanges arbitrage the two forks so that skeptics of "GavinCoin" (Roll Eyes) can put their money where their mouth is and see if anyone agrees with them - that is, if they are really willing to take, oh, say a 95% devaluation of their holdings if the market rejects them (and that's the optimistic case where their little group lasts as an altcoin; otherwise they can ride it all the way to zero). I suspect very few people will actually take this bet.

To quote the enigmatic Mr. Sztorc again, "Predictions markets make cheap talk expensive." Fork arbitrage functions as a prediction market for which fork will succeed.
legendary
Activity: 1764
Merit: 1002
May 03, 2015, 08:28:15 PM
just in case anyone is interested in what one of my full nodes is using.  it's remarkably consistent across all of them.  note the minimal bandwidth usage.  i have 1GB of RAM with 100GB of disk:

legendary
Activity: 2968
Merit: 1198
May 03, 2015, 08:23:12 PM
I wonder how many of those who voted for a graduated increase realize that the blocksize limit isn't actually limiting anything right now. It's a limit that will eventually become a factor. Right now if it were removed nothing special would happen.

That's a bit overstated. It already slows things down when there are long (random) block times because all the accumulated transactions can't fit in the first block. Allowing all (or at least more) of the transactions into the first block doesn't increase bandwidth or storage requirements at all, but does improve service. There is a small centralizing effect though (rewards miners with higher bandwidth).
 
This has happened to me twice. I have the worst luck on block times. Both were close to an hour.
legendary
Activity: 1764
Merit: 1002
May 03, 2015, 08:14:28 PM
I wonder how many of those who voted for a graduated increase realize that the blocksize limit isn't actually limiting anything right now. It's a limit that will eventually become a factor. Right now if it were removed nothing special would happen.

you're right that it isn't limiting anything right now.  but if the market gets the sense that Gavin is going to get his way (and i think he will) it could unleash the next wave of speculation into the market, and along with it, a new wave of tx volume simply from everyone piling in frontrunning.

the way the charts are lining up it seems to me that the market is looking for any reason at all to rally hard.
legendary
Activity: 1036
Merit: 1000
May 03, 2015, 08:08:28 PM
I wonder how many of those who voted for a graduated increase realize that the blocksize limit isn't actually limiting anything right now. It's a limit that will eventually become a factor. Right now if it were removed nothing special would happen.
sr. member
Activity: 429
Merit: 250
Pythagoras and Plato are my brothers.
May 03, 2015, 08:05:55 PM
It looks like bitcoin will continue to drop for the next little while. I have sold most of my btc and plan on to reenter at around $150. Untill then I may buy some gold and see where that goes.

sounds like you're gonna be left behind.


no man, I made enough money to not worry. but btc is coming back down and you failing to see that is retarded. You're old school and you still don't get it. Your loss my gain.
legendary
Activity: 1764
Merit: 1002
May 03, 2015, 08:04:21 PM
It looks like bitcoin will continue to drop for the next little while. I have sold most of my btc and plan on to reenter at around $150. Untill then I may buy some gold and see where that goes.

sounds like you're gonna be left behind.
sr. member
Activity: 429
Merit: 250
Pythagoras and Plato are my brothers.
May 03, 2015, 07:59:44 PM
It looks like bitcoin will continue to drop for the next little while. I have sold most of my btc and plan on to reenter at around $150. Untill then I may buy some gold and see where that goes.
legendary
Activity: 1764
Merit: 1002
May 03, 2015, 07:53:23 PM

given this new development, you guys ought to make sure to vote in the current poll above.
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
May 03, 2015, 07:31:00 PM
Bitcoin is a meta-layer for settlement systems, let's keep the politically-driven social sciences, like "economics", out of it.
That sounds like VC doublespeak.

Far from it. Though I expect each can approach it on their chosen level and interpret it through familiar lens filters, however limiting and distorted that may prove to be.
legendary
Activity: 1764
Merit: 1002
legendary
Activity: 1036
Merit: 1000
May 03, 2015, 07:10:52 PM
Paul Sztorc rips into Ethereum and Proof-of-Stake. He continues in more posts below. Pretty vicious Grin

Paul Sztorc has no business talking while attempting to leach off Bitcoin by pre-selling his altcoin via SC's.

I don't know what he's doing with Truthcoin (he's a total Bitcoin "maximalist" as far as I know, a famous hater of altcoins so that would be unexpected, but I don't keep up on his project), but it doesn't change the validity of his arguments in this case.

I can overlook Sztorc's quirks as long as he continues to nail enough of the important points. Beggars can't be choosers.
legendary
Activity: 1400
Merit: 1013
May 03, 2015, 07:05:53 PM
Bitcoin is a meta-layer for settlement systems, let's keep the politically-driven social sciences, like "economics", out of it
That sounds like VC doublespeak.

Bitcoin is money.

It's what let markets resistant to politically-driven social sciences.
legendary
Activity: 1400
Merit: 1013
May 03, 2015, 07:02:07 PM
As for bolting JustusNodes onto BTC, it ain't gonna happen.  Such a massive change to the existing social contract is correctly perceived as an attack and will be defended against from the high ground of antifragility.
That's an unwarranted amount of drama and also inaccurate.

The P2P network design is not part of Bitcoin the protocol.

Most likely what would happen is that nodes would support both paying and non-paying connections, and devote more bandwidth to the peers that were willing to pay.

Users would figure out that if they allocated a small budget to their SPV clients, their connections to the network would be more reliable so those who could afford it would do so.

That's all it would take to get started.
legendary
Activity: 1036
Merit: 1000
May 03, 2015, 06:56:52 PM
An economic Wiki? So we have to go through all discussions once more, and now with a Wikimaster to worry about?

I didn't have anything like that in mind. I was simply thinking it would be useful if someone or maybe a few people would build some kind of wiki like described above and then some people might copy and expand it if it was agreeable. A wiki in terms of format, not in terms of Wikipedia-style politics (perhaps I am using the wrong term; more like "a FAQ for recurring topics in thread insofar as there is a general loose consensus"). In practice it's probably something mostly one person would probably start, and if they made the foundation solid enough and agreeable enough there would probably be some people copying/adding to it.
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