Topic: Gold collapsing. Bitcoin UP. - page 724. (Read 2032266 times)

as contentious as our debates got, you have helped me crystalize my understanding of how SC's are going to play out.  i totally agree that the best use of SC's for Bitcoin are as development tools for your "utility" chains as you call them.  the only problem with that is they will only be applied and developed for those specific uses that help Bitcoin as Money.  and as you have said, this will probably only include those related to fast tx and anonymity and those will be the only SC's that garner BTC use and MM.  but that is very limited and highly focused.  they will be devved out of the public good as that will increase Bitcoin value even while not paying devs directly.

but that won't stop all the thousands, if not billions, of "companies", including those with altcoins, that will bolt onto the MC via the 2wp in an attempt to suck out BTC value.  i no longer conceptualize SC's as blockchains or ledgers running parallel alongside Bitcoin's blockchain.  i think of them as circles (for profit companies) with small unique ledgers within them that will have just as many different rules and manipulations that go on in fiat companies.  think of the TC diagram.  and they all will advertise with over-the-top claims to fame just like TC.  whether or not BTC holders can resist speculating in these companies should require exceptional diligence but i don't for a minute believe ppl will be able to resist as they will all be advertised as decentralized.

in that sense, considering speculation, i still don't think SC's are a good idea in that those 2 highly focused utilities should be able to be developed on MC.

I also have the feeling he is using the peg as a "risk-adverse" aspect when in fact he has no plan to peg 1:1. Oh well... fools.. money..parted

in my Twitter conversation with @Truthcoin today, it's so clear that all he wants to do is tap into "mobile Bitcoin" for the value sapping.  he doesn't care that the BTC converted to Cashcoin or whatever shitcoin is involved with Truthcoin is put at risk.  he sees SC's as a way to exploit Bitcoin.

i suggest every other altcoin will attempt the same bolt on strategy.

Charlie Songhurst from Katana ended the Bloomberg panel with a fantastic quote I have to share

"Innovation isn't random chance, it's a probabilistic outcome based on labour and capital. If you want to monitor the health of the ecosystem and know where the innovation is at ; look where smartest developers and savyest VCs are putting their labour and capital."

so beautiful.

this is one of those "get on now or risk being left behind forever" moments. 

Yes, no, sorta.  Most often my troll-fests correspond with a good mood and goodwill to all.  'You only troll the ones you love', dontcha know?  Besides, Justus (or shall I say, 'Doogie Coder') started the 8-ball rollin' on the very amusing age thing IIRC.

Oh, while I'm here, 'define' would be to provoke a growth spurt in Bitcoin which would change the nature of the solution.  I've outlined my concerns hundreds of times I'm sure.

she's a fraud  

first question from Q&A is why the classic Bitcoin and not just "blockchain" fintech innovation and she's the first to reply with "Ripple!"

it's a shame though cause it does seem like she sees the value proposition when she develops her answer furthermore...

This can easily be fixed and in fact is being worked on.

I see in that video how they instantly mention the negative of a large currency unit.  Do people really want to be fiddling with tiny little bits, ie. roughly why litecoin and possibly also dogecoin are maybe better liked; you can have 10 and its not a great big deal to handle.  Simple thing but its factor to the masses imo

Same thing can be argued with gold.  Just a gram is more then many people would carry in their back pockets without thinking about it, common currency has to be just that if you really want mainstream

Guy at 10:20 gets it, people lack imagination.  They dont care about your 32 bit hash encryption, its really just the immediate factors affecting them and thats success and future price

Isn't she on-board with Ripple? None of those statements are surprising then.

She actually said "you don't have to hold Bitcoin". And that you should use it to send money around and cashing out to fiat  

edit : guy from TeraExchange said he imagines a massive derivatives market on top of Bitcoin, likens it to gold a lot. smart man

edit2: susan athey is very confused. says you can hold you USD in coinbase. reiterates the notion "you don't have to hold Bitcoin for the system to grow"

Dan Pantera didn't defend the "money" position. I'm mad 

yeah, me too.  had to stop. 

but i will listen eventually mainly b/c of Susan Athey.  she really understands the importance of the SOV aspect of Bitcoin.  not too many of those around these days.

Ugh - looks interesting... I really don't have time for this tonight.

I *almost* (not really) miss the days when I could read/watch the past week's worth of mainstream bitcoin coverage in 10 minutes.

http://www.bloomberg.com/video/bloomberg-panel-discussion-on-outlook-for-bitcoin-NTorPlQGQzurnbQgYEz9~g.html

just started watching, impressive lineup. thought I'd share

like i said, you should apply for a job.

so I'm famous now 


 

Based on the occasional snide comments I see posted in other parts of the 'net, lots of people are watching this thread without commenting.

Ha! I was wondering when we'd get back to gold collapsing

so you've been snooping on our sidechains debate all along heh