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Topic: Gold collapsing. Bitcoin UP. - page 536. (Read 2032289 times)

full member
Activity: 196
Merit: 100
January 20, 2015, 03:39:14 PM
Latest news from gavin experimenting on max block size increases:

https://mobile.twitter.com/gavinandresen/status/557620205443350529

He's being doing a pretty good job imho, particulary if you take into account also the previous post where he tested a version of bitcoin core that could handle a 20MB max block size:

http://gavintech.blogspot.it/2015/01/looking-before-scaling-up-leap.html
Was just wondering that where are you taking this discussion?
legendary
Activity: 4760
Merit: 1283
January 20, 2015, 03:36:55 PM
Latest news from gavin experimenting on max block size increases:

https://mobile.twitter.com/gavinandresen/status/557620205443350529

He's being doing a pretty good job imho, particulary if you take into account also the previous post where he tested a version of bitcoin core that could handle a 20MB max block size:

http://gavintech.blogspot.it/2015/01/looking-before-scaling-up-leap.html

A more appropriate title would in my opinion be 'Leap before anyone looks.'

I've always considered Gavin a fairly honorable dude, especially by the ecosystem standards, but one still has to watch the pea when reading what he writes.  Especially when he talks UTXO.

 - edit: emphasis, link
legendary
Activity: 1260
Merit: 1008
January 20, 2015, 03:27:01 PM
Latest news from gavin experimenting on max block size increases:

https://mobile.twitter.com/gavinandresen/status/557620205443350529

He's being doing a pretty good job imho, particulary if you take into account also the previous post where he tested a version of bitcoin core that could handle a 20MB max block size:

http://gavintech.blogspot.it/2015/01/looking-before-scaling-up-leap.html
legendary
Activity: 1153
Merit: 1000
January 20, 2015, 03:24:45 PM
Related to the Greed discussion earlier.

Former CEO of Citibank personally invested in Coinbase's latest $75M raise.
http://dcmagnates.com/coinbase-secures-record-75-million-investment-led-by-dfj/

Slowly but surely Bitcoin is creeping into the halls of those in power. Unlike with most new constructs where most of us are blocked by regulation from participating since we are not "accredited investors", with Bitcoin we can invest directly and in many cases front run wall street.
member
Activity: 72
Merit: 10
January 20, 2015, 02:33:50 PM
But you are right, trying to argue a technical discussion here is a terrible waste of time.

*Thumps chest vigorously*  

legendary
Activity: 4760
Merit: 1283
January 20, 2015, 01:28:11 PM
more promising pastures (which also provided counter-party risk protection as a minimum.)

Which ones are those?

I don't know of any.


I don't either.  I've been remiss in studying alts because there are just so fucking many of them.

My strong sense is that NONE of them are really biting off the problems that are important to me.  Everyone seems to be happy to nestle in the gentle bosom of big brother to offer protection of freedom on the global internet.  The concept that restrictions on paths, protocols, etc might be possible seems to be rejected out of hand as a wild conspiracy and not worth designing around...even as Obama and Camaroon agree that their boys should not be locked out of one's cell phone.  It boggles the mind...then I remember how tedious and difficult it is to design systems around fewer resources than currently exist.  No fun at all (though I always enjoyed it but I'm an odd-ball) and not the best way to suck in VC money or impress adolescent marks in the ecosystem.

I'm sure that interests would shift rapidly upon attack...though maybe not rapidly enough if the attack is done correctly (that is, in a boiling frog approach.)

legendary
Activity: 4760
Merit: 1283
January 20, 2015, 01:13:16 PM

I agree with you, but that is the future, not today's reality. Mining will one day be done almost entirely by datacenters. You may not know exactly where they are, but they will be well protected by very large guns. Bitcoin doesn't need jurisdictions because you know you can't trust anyone, you can only trust the protocol and how it is engineered to balance mathematical security and networking limitations. If a major mining firm is going to overtly attack the network, it will destroy their investment. If they attack an individual, then it is best that you remain as anonymous as possible.

And if they attack you because you are anonymous?  That doesn't actually seem like it should be a hugely challenging technical problem if there was sufficient pressure to do it (such as the forfeiture ones mining gear for example.)

If you are anonymous, they wouldn't know about your mining gear now, would they? Cancelling an anonymous payment might be a hospital bill for a child with cancer. That would not bode well for the miner that signed that block.

Anonymity for users (against miners) and anonymity for miners (against regulators) are two different things.  Both are interesting but they are far from interchangeable.

In both cases, knowing with some precision what is happening on the network is quite straightforward.  The protocol makes no efforts to be discrete.  Yes, it would be fairly trivial to encapsulate it but endoints don't grow on trees and would add notably to the complexity and expense of system design.  And only solves certain parts of the theoretically possible problems.

If "forget about anonymity" then can you tell me what it is about Bitcoin that makes it particularly worth supporting or using.

Who are you quoting? I presume it is Mr. Strawman. Bitcoin is pseudonymous. Anonymity is a social construct. It's not part of the protocol, but how it is used.

Clearly this is no strawman for those who know what a strawman actually is.  It's an effort to save a go-around for efficiency reasons.  See the "If"?  Wanna answer the question?

My answer would be 'counter-party risk protection' but to say the truth there would be so little else that I would pretty much be forced to move on to more promising pastures (which also provided counter-party risk protection as a minimum.)

Your strawman attempt at leaving wiggle room is in vain. You cannot have counter-party without trust in an authority. You Sir, are a Statist.

Asserting a strawman where it doens't exists then excusing yourself from a losing argument (or one which has exceeded your capabilities) is as old as the hills.  It pre-dates the http protocol at least and I know this for a fact.

legendary
Activity: 1288
Merit: 1000
Enabling the maximal migration
January 20, 2015, 12:20:06 PM
What exactly does "transparency to pricing" mean?
All Your Bitcoin Are Belong To Banksters

good luck for them putting their hands on my private keys.

They don't want yours. They already got their hands on hundreds of thousands of cheap coins during the last month. We know what comes next.
hero member
Activity: 722
Merit: 500
January 20, 2015, 12:12:47 PM
What exactly does "transparency to pricing" mean?
All Your Bitcoin Are Belong To Banksters

Central or other?

"Endgame for central bankers"

Steen Jakobsen Steen Jakobsen
Chief Economist & CIO / Saxo Bank

https://www.tradingfloor.com/posts/macro-digest-endgame-for-central-bankers-3294071
legendary
Activity: 1260
Merit: 1002
January 20, 2015, 11:48:18 AM
What exactly does "transparency to pricing" mean?
All Your Bitcoin Are Belong To Banksters

good luck for them putting their hands on my private keys.
legendary
Activity: 1400
Merit: 1013
January 20, 2015, 11:41:29 AM
What exactly does "transparency to pricing" mean?
All Your Bitcoin Are Belong To Banksters
legendary
Activity: 3822
Merit: 5504
January 20, 2015, 11:41:13 AM
What exactly does "transparency to pricing" mean?

It means in the future Wall St will be the speculative market setting the price like Gold and GLD ETF with BTC ETFs

Well, yes then I believe this is a big fucking deal.

Let's have a bitcoin IPO!  Lol
hero member
Activity: 868
Merit: 1000
January 20, 2015, 11:38:00 AM
We will see.....
legendary
Activity: 1288
Merit: 1000
Enabling the maximal migration
January 20, 2015, 11:37:08 AM
What exactly does "transparency to pricing" mean?

It means in the future Wall St will be the speculative market setting the price like Gold and GLD ETF with BTC ETFs

Well, yes then I believe this is a big fucking deal.
legendary
Activity: 1288
Merit: 1000
Enabling the maximal migration
January 20, 2015, 11:22:44 AM
Ummm, so is this not massive news or what!?

https://twitter.com/nyse/status/557544864821542912

Yes, I would say that's very big news.
They are going to bring the same transparency to Bitcoin pricing that the bring to gold pricing. Or mortgage-backed security pricing.

Remember that if you don't have exclusive control over the private keys, you don't actually own any bitcoins.

What exactly does "transparency to pricing" mean?
legendary
Activity: 817
Merit: 1000
January 20, 2015, 10:32:56 AM
Ummm, so is this not massive news or what!?

https://twitter.com/nyse/status/557544864821542912

Yes, I would say that's very big news.
They are going to bring the same transparency to Bitcoin pricing that the bring to gold pricing. Or mortgage-backed security pricing.

Remember that if you don't have exclusive control over the private keys, you don't actually own any bitcoins.

I think the important part here is that the nyse is publicly investing into Bitcoin. They've obviously done their homework and decided to go through with this. BitLicense and all, that says something rather loud in my book.
legendary
Activity: 1400
Merit: 1013
January 20, 2015, 10:28:57 AM
Ummm, so is this not massive news or what!?

https://twitter.com/nyse/status/557544864821542912

Yes, I would say that's very big news.
They are going to bring the same transparency to Bitcoin pricing that the bring to gold pricing. Or mortgage-backed security pricing.

Remember that if you don't have exclusive control over the private keys, you don't actually own any bitcoins.
hero member
Activity: 715
Merit: 500
January 20, 2015, 10:25:03 AM
Ummm, so is this not massive news or what!?

https://twitter.com/nyse/status/557544864821542912

Yes, I would say that's very big news.
legendary
Activity: 817
Merit: 1000
January 20, 2015, 10:07:59 AM
Ummm, so is this not massive news or what!?

https://twitter.com/nyse/status/557544864821542912
legendary
Activity: 1204
Merit: 1002
Gresham's Lawyer
January 20, 2015, 07:27:21 AM
This is the opposite of what is happening.
It is because we are worried about it that it is not a problem.
Whenever centralization increases, the twitter storms and articles splash everywhere and miners react.

So bitcoin's future is protected by the power of twitter storms and coindesk articles? Mind if I am not impressed?  

Seriously, I can't believe that a company would voluntarily shrink because some customers (who cannot choose their suppliers) complain about them being too big.  I would expect it to merely disguise its size, by using two or more diferent names.  Is anyone worried bout that?

What is your point?  The disaster did not happen until now, so the risk does not exist?
His point, and it is a good one, is that the available evidence points to a trend away from increasing centralization.

2012:  3 companies had more than 50%
2013:  2 companies has more than 50%
2014:  1 company (GHash.io) had more than 50%
2015:  4(?) companies have more than 50%

Well, sorry, I dont see a trend there.  


Read up on mining pools please.
Then check your assumptions.
The threat isn't what you think it is, it is addressed in ways you aren't comprehending, and it is only a small part of the centralization problems.
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