Topic: Long term advance notice! - page 2. (Read 3710 times)
According to new IRS rulemaking, coins are received when they are manifest on the blockchain. Don’t move your coins to the new blockchain, ergo you have not received them, ergo no tax due.
Unless of course you want to claim them. That’s a problem of your own making.
Unless of course you want to claim them. That’s a problem of your own making.
Why not split work and anxiety more evenly? All I'm saying is 100 percent to anxious rants trying to understand CW's potential scam plan (or anything else for that matter) seems like a poor strategy, when you could be building something instead.
There won’t be any Segwit spend to any attacks…
~snipsnip~
Null
Null? what kind of name is that? my guess is nutella ~snipsnip~
Null
Relaying a new message:
Read the thread to correct your myopia. All of your incorrect points were already refuted numerous times. I am not going to repeat it all again, just because you are too lazy or incapable of assimilating the logic in the thread.
There won’t be any Segwit spend to any attacks…
There are barely any nodes running satoshi’s old codebase, that code was buggy and vulnerable and couldn’t handle higher traffic, so they’re all gone.
It’s the same as breaking any other consensus rule — like allowing joe-blow to spend block 1’s coins with a key that isn’t the right one, or mining 1000 BTC in a block or whatever: all nodes enforcing the rule will ignore the invalid blocks just like they never happened. Any nodes not enforcing it, if there are any, will play along so long as there is more hashpower mining the invalid blocks. Of course, the miners making invalid blocks are burying millions of dollars a minute in power to make “blocks” that pretty much only their own nodes will accept, so they’ll rapidly go bankrupt.
This is the same deal for any nearly-universially deployed consensus rule. Segwit would only be different if it weren’t deployed everywhere but it (like almost all other rule additions made going all the way back to the rules satoshi added in 2010) didn’t get activated until an overwhelming majority of users, all major businesses, etc. were enforcing it.
There are barely any nodes running satoshi’s old codebase, that code was buggy and vulnerable and couldn’t handle higher traffic, so they’re all gone.
It’s the same as breaking any other consensus rule — like allowing joe-blow to spend block 1’s coins with a key that isn’t the right one, or mining 1000 BTC in a block or whatever: all nodes enforcing the rule will ignore the invalid blocks just like they never happened. Any nodes not enforcing it, if there are any, will play along so long as there is more hashpower mining the invalid blocks. Of course, the miners making invalid blocks are burying millions of dollars a minute in power to make “blocks” that pretty much only their own nodes will accept, so they’ll rapidly go bankrupt.
This is the same deal for any nearly-universially deployed consensus rule. Segwit would only be different if it weren’t deployed everywhere but it (like almost all other rule additions made going all the way back to the rules satoshi added in 2010) didn’t get activated until an overwhelming majority of users, all major businesses, etc. were enforcing it.
Read the thread to correct your myopia. All of your incorrect points were already refuted numerous times. I am not going to repeat it all again, just because you are too lazy or incapable of assimilating the logic in the thread.
There won’t be any Segwit spend to any attacks…
There are barely any nodes running satoshi’s old codebase, that code was buggy and vulnerable and couldn’t handle higher traffic, so they’re all gone.
It’s the same as breaking any other consensus rule — like allowing joe-blow to spend block 1’s coins with a key that isn’t the right one, or mining 1000 BTC in a block or whatever: all nodes enforcing the rule will ignore the invalid blocks just like they never happened. Any nodes not enforcing it, if there are any, will play along so long as there is more hashpower mining the invalid blocks. Of course, the miners making invalid blocks are burying millions of dollars a minute in power to make “blocks” that pretty much only their own nodes will accept, so they’ll rapidly go bankrupt.
This is the same deal for any nearly-universially deployed consensus rule. Segwit would only be different if it weren’t deployed everywhere but it (like almost all other rule additions made going all the way back to the rules satoshi added in 2010) didn’t get activated until an overwhelming majority of users, all major businesses, etc. were enforcing it.
Null
There are barely any nodes running satoshi’s old codebase, that code was buggy and vulnerable and couldn’t handle higher traffic, so they’re all gone.
It’s the same as breaking any other consensus rule — like allowing joe-blow to spend block 1’s coins with a key that isn’t the right one, or mining 1000 BTC in a block or whatever: all nodes enforcing the rule will ignore the invalid blocks just like they never happened. Any nodes not enforcing it, if there are any, will play along so long as there is more hashpower mining the invalid blocks. Of course, the miners making invalid blocks are burying millions of dollars a minute in power to make “blocks” that pretty much only their own nodes will accept, so they’ll rapidly go bankrupt.
This is the same deal for any nearly-universially deployed consensus rule. Segwit would only be different if it weren’t deployed everywhere but it (like almost all other rule additions made going all the way back to the rules satoshi added in 2010) didn’t get activated until an overwhelming majority of users, all major businesses, etc. were enforcing it.
Null
I started a thread on this.
https://bitcointalksearch.org/topic/m.52932078
But it really seems to me that whales or whoever have completely lost their minds on making big mining farms at this point in time...
https://bitcointalksearch.org/topic/m.52932078
But it really seems to me that whales or whoever have completely lost their minds on making big mining farms at this point in time...
Ok, as usual, as big players and whale antic's go...I don't get the current LARGE upsurge in Whale games and interest in very big mining operations and expectations,
Me thinks they understand a SegWit “donations” booty is coming...[1]
Stock to flow is irrelevant for LTC.
You people are the most dishonest, retarded, fucking scammers I've ever seen in my entire life. It's not possible for this 'stock to flow' nonsense to be completely invalid for Litecoin and every other coin and work ONLY for Bitcoin. They're all the same 'asset' class - I use the term "asset" extremely loosely because imaginary timestamps are not an asset - so it either has to work for all of them or none of them. It obviously works for none of them because a stock to flow model only works on physical commodity resources humans actually need with some type of inelastic demand.
Forced to reply as you are calling me in a way I don't like.
If only you would use some of your time to actually read about the model (plenty of places to do that, one of those being here), instead of repeating the same old story, you would understand why this model is not applicable to Litecoin.
Bitcoin is the only cryptocurrency with unforgeable costliness,
What the fuck. You have GOT TO BE SHITTING ME. That's an entirely made up, bullshit word salad like blue hair feminists fabricate out of thin air to try and bamboozle people. I don't know why you people even quote Nick Szabo when he's an Ethereum shill. It was obvious it was a Wolf of Wall Street IPO scam before it was even released, with the system itself incapable of even functioning at a drawing board level.
When he's bullshitting you in things like that, it's obvious he's bullshitting you in lots of other places too. He makes numerous leaps of illogic like concluding the only reason humans value something like gold is because it has large amounts of sunk cost fallacy to produce, then tries to claim that PoW aka "unforgeable costliness" replicates that sunk cost fallacy making Bitcoin equal to gold LOL. This whole simpleton train of logic is so stupid it hurts. If Bitcoin had "unforgeable costliness", the 51% attack would not even exist for fucks sake.
And producing gold isn't even sunk cost fallacy in the first place since you're producing an actual resource, while Bitcoin REALLY IS sunk cost fallacy producing nothing. So it's a complete apples to Toyota Corollas comparison. Then factor in absolutely none of the other million traits of physical metals and Bitcoin are comparable either with one being an imaginary object and all.
Unforgeable costliness and the lack of a sunk cost fallacy in the longest (aka greatest cumulative difficulty) proof-of-work chain, is due to the Nash equilibrium game theory that incentivizes everyone to continue mining and transacting on the legacy, immutable original. This theory has been falsified numerous times with every hard fork of Bitcoin being sold off.[1]
The decentralized Nash equilibrium exists because the utility of Bitcoin is greater than any extant decentralized alternative (e.g. gold). Thus there’s no Schelling point to reach for alternative forks which have less consensus and thus less utility. Other examples of cryptocurrency utility which gold lacks, include the ability to be transported instantly as information and the fact that the tangible mass of Bitcoin (which is all the mining hardware) is disconnected from the intangible store of the transportable asset. Note the theoretical ideal proof-of-work is 100% efficient and thus burns no electricity (as heat) and burns only the depreciation of the hardware. Proof-of-work is an epochal technological shift which will transform human civilization. Proof-of-stake does not burn a tangible resource, so thus has no unforgeable costliness in which to base a Nash equilibrium.
The properties of gold which give it utility that older forms of money and later which fiat money lack, have thus historically been a Nash equilibrium, because there was no Schelling point to reach for metals with inferior properties, except that gold was too rare to be used as the transactional currency which gave rise to silver as a medium-of-exchange (aka the poor man’s money). Yet gold was in tension with social scalability (e.g. the soon-to-be, deprecated need for debt financing in the former fixed capital age) and thus the Nash equilibrium for gold could not prevent the rise of fiat money which was an imperfect yet more socially scalable form of money.
The huge problem for gold now is that proof-of-work replaces virtually all its utility while adding superior utility.
Bitcoin is a derivative of the US dollar and various other fiats and is in no way free floating whatsoever, nor the unit of account of anything.
That will be falsified when Libra replaces the US dollar with (legacy) Bitcoin as the reserve sometime later in this decade and the U.S. dollar collapses whilst (legacy) Bitcoin continues to the moon.
For inflation? If there was a Venezeulan-style melt up, people then lose faith in the current unit of account (Jewish Federal Reserve note), and all pile into the base of Exter's Pyramid to try and retain value (physical gold and silver). Bitcoin is located nowhere near the base of Exter's Pyramid so in a rush to the exits will not be the benefactor of becoming the new unit of account.
Empirically that’s already been falsified recently in Venezuela. The Venezuelans weren’t walking across the border to Colombia with bits of gold in their pockets. That would have been too dangerous. Interest in cryptocurrencies has been significant and rising according to anecdotal reports. Ditto Argentina.
Heck Venezuela even had the threat of their gold being confiscated by the bankers in London. Gold has declining utility because the transferrable asset is attached to its physical mass, unlike proof-of-work where the physical mass (the mining equipment) is detached from the transferable value.
Face the facts.
Looks to me, (or my uniformed self) that China soon is gonna make a real run at Crypto with their own Cryptocurrency.
Again, IMHO, they seem to be taking the LIBRA route and seems to me to be sidelining Bitcoin as a 'store of value' and
https://www.fxstreet.com/cryptocurrencies/news/china-is-banning-any-criticism-of-bitcoin-and-blockchain-technology-201910311837
Again, IMHO, they seem to be taking the LIBRA route and seems to me to be sidelining Bitcoin as a 'store of value' and
https://www.fxstreet.com/cryptocurrencies/news/china-is-banning-any-criticism-of-bitcoin-and-blockchain-technology-201910311837
Libra and China’s competitor shitcoin ultimately must back their centralized, no Nash equilibrium proof-of-stake shitcoins with Bitcoin reserves, otherwise they’ll be replaced by a transactional medium-of-exchange that does. Because Bitcoin is the only monetary asset other than precious metals which has a decentralized Nash equilibrium due to unforgeable costliness.
However, what happens if someone creates a cryptocurrency that effectively has decentralized (i.e. can’t be BSV nor BCH which only increase block sizes via the ruse of centralized mining) transactional volume scaling and a Nash equilibrium with unforgeable costliness? HTLCs such as Lightning Networks can’t succeed and besides Bitcoin has a poison pill game theory which will destroy all the mutations to the protocol since Satoshi left the building.
Relaying a response:
Read and understand the thread before posting some misunderstanding which had already been clarified.
The theory is that the Bitcoin Core miners will be forced to go mine the legacy Bitcoin and receive their fair share of the SegWit donations, thus making them very profitable whilst the Core protocol blockchain dies. Yet I repeat myself over and over again, because readers are too lazy to read the damn thread entirely.
They'll still have solar panel miners surely, some are already expended their money to mine. Its similar in a few commodity operations, some have to mine to get any income and stopping is not a real option.
Read and understand the thread before posting some misunderstanding which had already been clarified.
The theory is that the Bitcoin Core miners will be forced to go mine the legacy Bitcoin and receive their fair share of the SegWit donations, thus making them very profitable whilst the Core protocol blockchain dies. Yet I repeat myself over and over again, because readers are too lazy to read the damn thread entirely.
If this plan was on 2018 then it is a long overdue by now because we have few months left before this year would end. Although the Bitcoin market is still in bearish but i think this is just a normal market movement because CSW is mentioning of up to 50% one time big time dump that never happen therefore it is clear that this is one of his strategy to push Bitcoin SV after declaring he was Satoshi.
It's not a long term advance notice, just a bluffing.
The fact is bitcoin still rise up and reached $13000 in July, although now it seems really bearish, probably drop to $6000. However, the best long term advice is buy bitcoin in the dip and sell at the peak
just hold with all your patience.
The fact is bitcoin still rise up and reached $13000 in July, although now it seems really bearish, probably drop to $6000. However, the best long term advice is buy bitcoin in the dip and sell at the peak
just hold with all your patience. 
They'll still have solar panel miners surely, some are already expended their money to mine. Its similar in a few commodity operations, some have to mine to get any income and stopping is not a real option. I remember a situation like this with the frackers in oil and gas, they have already put in an investment and despite a price lower every week they must continue to extract and sell for cashflow to repay loans, etc. It went on for a while and did result in a surprisingly low oil price to the shock of OPEC.
Relaying a price prediction for Bitcoin from now to May 2020. This shared prediction does not reflect my personal opinion.
Quote from: Shelby
This is obviously based on the assumption of a SegWit donations attack at the halving event in May 2020, with the need for the price to moon before the halving so then when the price is crashed by Craig Wright dumping ~1 million BTC then the SegWit (i.e. Core) blockchain will lose most of its miners and thus slow down to perhaps 1 block found every week (instead of every 10 minutes) and with the mining difficult not to be reset (without some centralized intervention) for perhaps a year or never. The inability of the SegWit blockchain to proces transactions as the price craters will cause the price to crater even more in a spiraling into the death-of-coin abyss effect.
From more than 5 months ago I had predicted in one of the possible scenarios:
Enjoy the wild ride!
From more than 5 months ago I had predicted in one of the possible scenarios:
Enjoy the wild ride!
Relaying once more.
Sweet mother of god! I wonder what this pile of btc will be worth after the halving/next parabolic rise
~$0.
Confirmed my earlier suspicions, that Bakkt warehouse is storing in SegWit 3 addresses:
https://www.blockchain.com/btc/tx/4410c8d14ff9f87ceeed1d65cb58e7c7b2422b2d7529afc675208ce2ce09ed7d
Thus if Craig Wright keeps his promise then all the institutional Bakkt BTC will be lost in a poof it’s gone event after the halving May 2020.
This makes me even more confident that the SegWit attack is likely coming at the halving May 2020.
When re-reading one of my blogs, I was reminded of a post I wrote in 2017 about Satoshi’s deception.
https://twitter.com/whale_alert/status/1169815776733220866?ref_src=twsrc%5Etfw
1 billion dollars... moved easily, securely and without any third party. Bitcoin really is amazing
1 billion dollars... moved easily, securely and without any third party. Bitcoin really is amazing
Sweet mother of god! I wonder what this pile of btc will be worth after the halving/next parabolic rise
~$0.
Confirmed my earlier suspicions, that Bakkt warehouse is storing in SegWit 3 addresses:
https://www.blockchain.com/btc/tx/4410c8d14ff9f87ceeed1d65cb58e7c7b2422b2d7529afc675208ce2ce09ed7d
Thus if Craig Wright keeps his promise then all the institutional Bakkt BTC will be lost in a poof it’s gone event after the halving May 2020.
This makes me even more confident that the SegWit attack is likely coming at the halving May 2020.
When re-reading one of my blogs, I was reminded of a post I wrote in 2017 about Satoshi’s deception.
