Random altcoin observation...
I can't find a thread on the first 5 pages specifically about BBR.
Where can I learn more? It was drifting down around .00015 for a looooong time. All of a sudden, starting last week (August 28th), volume on Polo is wayyyyyy up and the price is up to .001.
What caused this?
edit: Supernet, maybe? If so, where can I short the fucker?
Topic: rpietila Altcoin Observer - page 45. (Read 387552 times)
Risto trying to pick the winner reminds me of the government agencies trying to pick the winning technologies, e.g. China provided incentives to push into solar and now solar didn't pan out and going bankrupt.
Not sure if really poor analogy or just spewing falsehoods?
Quote
China Will Install More Solar This Year Than The U.S. Ever Has
http://thinkprogress.org/climate/2014/08/08/3468974/china-solar-capacity-booming/Quote
China was responsible for almost one-fifth of total global investment, spending $52 billion on renewable energy last year. The United States was close behind with investments of $51 billion...
http://www.forbes.com/sites/jackperkowski/2012/07/27/china-leads-the-world-in-renewable-energy-investment/China has a terrible pollution problem, and they are taking some strides at least to wrangle the problem in the longterm. They also manage to import so many solar panels into the USA that many manufacturers here are crying "uncle", despite installing more PV capacity than the USA has in their entire history in the same year. Not sure how you figure solar "didn't pan out" for them.
Good catch, I don't know anything about what they are doing with that.
You may well be right about this. It will depend on the facts.
If Poloniex is putting together these baskets, or has an interest in them, or is involved in some way other than merely posting bid and ask prices, they could have problems.
If these are just items that someone else, jl777 maybe, is putting up for sale, and poloniex is merely acting as the electronic communication network, they could very well be in the clear on this too.
If I were their legal adviser I might suggest that they seek out a No-Action letter from the SEC and clearly define their involvement with the questionable issues.
Oh, actually, when you state it that way, they are almost certainly safe. They are just posting bid and ask prices, I'm certain. The asset basket is on the Nxt exchange.
AnonyMint you think there will be a one world government who is just dictating the supply of money of all other countries, now that is nuts and something for the tinfoil hat party.
Some governments will soon buy in and start mining BTC themselves and the whole fiat pyramid falls down. There was already one country deciding to adopt Bitcoin, brick after brick is falling.
Bitcoin is already the perfect gov coin, because it helps with transparency of the government to the people. I am also very confident Bitcoin will always be the business and gov coin, because with this public ledger everyone who wants to have a good reputation must be as open as possible about the intentions. This also why XMR is such a wild card, because people really value privacy and with BTC this will never be fully archived. I know Bitcoin Developers like Luke JR saying he is totally sure Bitcoin is going to be anonymous in the feature, I don't think anyone in the Bitcoin community would support such a drastic change to be realistic about it. Sure the Bitcoin devs probably all of them like privacy, but can you imagine one day that you cannot go to ex. blockchain.info and search a Bitcoin transaction? There will never be such a fork.
Some governments will soon buy in and start mining BTC themselves and the whole fiat pyramid falls down. There was already one country deciding to adopt Bitcoin, brick after brick is falling.
Bitcoin is already the perfect gov coin, because it helps with transparency of the government to the people. I am also very confident Bitcoin will always be the business and gov coin, because with this public ledger everyone who wants to have a good reputation must be as open as possible about the intentions. This also why XMR is such a wild card, because people really value privacy and with BTC this will never be fully archived. I know Bitcoin Developers like Luke JR saying he is totally sure Bitcoin is going to be anonymous in the feature, I don't think anyone in the Bitcoin community would support such a drastic change to be realistic about it. Sure the Bitcoin devs probably all of them like privacy, but can you imagine one day that you cannot go to ex. blockchain.info and search a Bitcoin transaction? There will never be such a fork.
Did a google and ran into this. Is it still being launched by the same guy? I noticed it awhile back and I'm pretty sure he was saying he was keeping it closed sourced?
Yes, it's being worked on by the same developer still. Here's a recent thread btw: https://bitcointalksearch.org/topic/emunie-we-are-not-dead-just-busy-building-megacool-stuff-teasers-inside-755057
It is clearly possible to design a crypto-currency that can scale way beyond VISA/MC/PayPal and remain decentralized for mining. Don't expect it from Bitcoin though.
But that is not what will prevent offchain from proliferating, although it is a first requirement. Offchain is used because it is more attractive, convenient, and easy for the user.
I believe there is a solution. But it is currently one of my secrets that I am not yet willing to share publicly.
eMunie scales pretty well (did a million transactions within 24 hours in a beta test some weeks ago). They also have anonymity, though I cannot comment on how that is implemented. Would be interested to know what your impression is.
Did a google and ran into this. Is it still being launched by the same guy? I noticed it awhile back and I'm pretty sure he was saying he was keeping it closed sourced?
I think the plan is to keep it closed source for some months to allow for enough time for the network effect in case others fork the coin, and open source it later. There were also discussions about having an independent 3rd party review the code.
It is clearly possible to design a crypto-currency that can scale way beyond VISA/MC/PayPal and remain decentralized for mining. Don't expect it from Bitcoin though.
But that is not what will prevent offchain from proliferating, although it is a first requirement. Offchain is used because it is more attractive, convenient, and easy for the user.
I believe there is a solution. But it is currently one of my secrets that I am not yet willing to share publicly.
eMunie scales pretty well (did a million transactions within 24 hours in a beta test some weeks ago). They also have anonymity, though I cannot comment on how that is implemented. Would be interested to know what your impression is.
Did a google and ran into this. Is it still being launched by the same guy? I noticed it awhile back and I'm pretty sure he was saying he was keeping it closed sourced?
https://bitcointalksearch.org/topic/scam-alert-emunie-caution-advised-411366
It is clearly possible to design a crypto-currency that can scale way beyond VISA/MC/PayPal and remain decentralized for mining. Don't expect it from Bitcoin though.
But that is not what will prevent offchain from proliferating, although it is a first requirement. Offchain is used because it is more attractive, convenient, and easy for the user.
I believe there is a solution. But it is currently one of my secrets that I am not yet willing to share publicly.
eMunie scales pretty well (did a million transactions within 24 hours in a beta test some weeks ago). They also have anonymity, though I cannot comment on how that is implemented. Would be interested to know what your impression is.
We don't have much time remaining. We are dicking around.
Please re-iterate your actionable plan for people who don't have a particular skillset and aren't particularly wealthy but belong to the middle class and are fortunate enough to read you.
Sticking with Bitcoin is not the actionable plan?
http://money.cnn.com/2013/12/10/technology/bitcoin-jpmorgan/
The difference between digital banking accounts we have now and the digital currencies, is each citizen has to register for a wallet. One wallet for one citizen. Like your Social Security Number in the USA.
Your wallet can them be moved around to different banks.
Digital currencies is a code word for complete government tracking and total loss of bank privacy. Your bank will still hold your balance, but every transaction gets cleared through government servers.
As Armstrong said, Ecuador is the trial run for what is coming to every country in the world [...]
The difference between digital banking accounts we have now and the digital currencies, is each citizen has to register for a wallet. One wallet for one citizen. Like your Social Security Number in the USA.
Your wallet can them be moved around to different banks.
Digital currencies is a code word for complete government tracking and total loss of bank privacy. Your bank will still hold your balance, but every transaction gets cleared through government servers.
As Armstrong said, Ecuador is the trial run for what is coming to every country in the world [...]
Quite possibly. I don t think one has to invoke obscure conspiracies for that. Financial privacy is already so cumbersome and costly to achieve that most people will rather just give up on it. It is like trying to pay for rent and groceries with gold dust in order to avoid dealing with "evil fiat".
You obviously hope that Monero or some other cryptocoin will allow people to retain financial privacy without joining some savage tribe and subsisiting on berries and monkey meat. Good luck with that. Need I tell you that I am rather skeptical about the idea?
We don't have much time remaining. We are dicking around.
Please re-iterate your actionable plan for people who don't have a particular skillset and aren't particularly wealthy but belong to the middle class and are fortunate enough to read you.
They lean on the corporations when use of any competing currency becomes popular. For example gaming currencies (e.g. QQQ) were squelched this way.
QQ tokens had limited use cases and were centralized, issued by QQ company. How do you squelch crypto 2.0? Throw people in jail for using it? Ban Internet? These are possibilities, of course. It's all high risk investment and wild west. We'll see how it unfolds.
People's perception of law in developing countries is not the same as perception of law in developed countries. If something is banned, it doesn't mean it'll stop happening, it'll just go underground, which is true for developed nations too, but to a lesser extent, as citizens are more law-abiding. Besides, they didn't ban Bitcoin in China to the point of putting people in jail for using it. It's not even banned.
They lean on the corporations when use of any competing currency becomes popular. For example gaming currencies (e.g. QQQ) were squelched this way.
I don't know what Ecuador intends to do actually. perhaps they don't know either.
If I had to guess, it would probably be just that: a system for e-payments using some cryptocurrency techniques, with a currency controlled and backed by their Central Bank, perhaps pegged to the dollar, perhaps not, for use by their citizens.
If I had to guess, it would probably be just that: a system for e-payments using some cryptocurrency techniques, with a currency controlled and backed by their Central Bank, perhaps pegged to the dollar, perhaps not, for use by their citizens.
http://money.cnn.com/2013/12/10/technology/bitcoin-jpmorgan/
The difference between digital banking accounts we have now and the digital currencies, is each citizen has to register for a wallet. One wallet for one citizen. Like your Social Security Number in the USA.
Your wallet can them be moved around to different banks.
Digital currencies is a code word for complete government tracking and total loss of bank privacy. Your bank will still hold your balance, but every transaction gets cleared through government servers.
As Armstrong said, Ecuador is the trial run for what is coming to every country in the world after 2015.75 when the global economy turns down (which will provide the excuses and justifications for the changes along with the bailins and need to lockup every person's balances).
Bitcoin was planted to condition to world to "digital currencies".
We don't have much time remaining. We are dicking around.
But Bitcoin is traceable and it is illegal.
People's perception of law in developing countries is not the same as perception of law in developed countries. If something is banned, it doesn't mean it'll stop happening, it'll just go underground, which is true for developed nations too, but to a lesser extent, as citizens are more law-abiding. Besides, they didn't ban Bitcoin in China to the point of putting people in jail for using it. It's not even banned.
If crypto 2.0 and beyond can continue to develop in a way that can be presented as simple and easy to use for the average person and also somehow communicate the economic facts in a way that the average person can understand, then perhaps. It's possible. But we have a long road ahead of us.
Well, the average person doesn't have to understand all the facts. They just need to know and understand how to use the platforms and see examples of use cases from others. One example is crowdfunding opportunities that decentralized exchanges present, which is especially attractive to small companies that can't do IPOs on traditional stock exchanges. One example we can observe now is the cryptomessenger, which will be released in the next few days. It got the funding through NXT AE, and if it gets to be successful, many other examples will follow. Yeah, it's a long road. Crypto is software, it has to innovate or die. There is no point sitting on Bitcoins waiting for them to grow to sky.
I wonder if you have a point with Ecuador. Suppose, in some possible world differing greatly from reported plans, that Ecuador's Central Bank clones Bitcoin Core and modifies it slightly so that the Central Bank is the sole mint which can mine the digital currency. Furthermore, in this possible world, Ecuador retires its dependence on the US dollar and mandates the new digital currency as legal tender.
I don't know what Ecuador intends to do actually. perhaps they don't know either.
If I had to guess, it would probably be just that: a system for e-payments using some cryptocurrency techniques, with a currency controlled and backed by their Central Bank, perhaps pegged to the dollar, perhaps not, for use by their citizens.
It is possible that it was not even their idea; rather, the bill may have been pu$hed trough congress by some company who expects to be contracted to implement the system. This is often how the governments around here come up with technically innovative projects.
For example, here in Brazil the government recently spent a lot of money on a project to give useless toy-like laptops to K12 students (pushed by Intel, whose CEO visited Brazil for the purpose) and on another project to replace the paper ID cards by smartcards (apparently pushed by the same company that provided the smartcards for the Great UK ID-card fiasco).
With my triple-layer tinfoil hat on, I would even guess is that the future EcuadorCoin is none other than brock Pierce's Realcoin (that is supposed to be pegged to the US dollar, which is Ecuador's official currency at present).
Do you think the average person really cares about such things, or is going to become educated on such matters in our lifetime?
The average person cares about price rise. When supply of a useful commodity is predictable and cannot be increased at a whim, the price tends to rise. That's when an average person takes a notice and wants to take part in the action. The side effect of this is he can learn about supply, inflation and other stuff.
If crypto 2.0 and beyond can continue to develop in a way that can be presented as simple and easy to use for the average person and also somehow communicate the economic facts in a way that the average person can understand, then perhaps. It's possible. But we have a long road ahead of us.
...Chinese can invest...
If crypto-currencies will be for investment only, they are useless.
And you think 1.5 bln. people will just stand and watch in silence their savings in fiat fade away and at least some of those Chinese not try to do anything about it.
Why do you think there are ghost cities? They are dumping their money into all kinds of investments, not just Bitcoin.
And it doesn't have to function as currency at merchant level, peer-to-peer level is good enough.
For what reason? Taxes are low in China. Remittance is fast, cheap, and ubiquitous. Why avoid transacting in Yuan?
There is one reason. Games and social networking real-time person-to-person payments. And ditto in the lesser developing world.
But Bitcoin is traceable and it is illegal. Mainstream games and social networks will be pressured by the government to shut it down.
Monero is untraceable but can't handle micropayments volume.
See where I am headed with this... "Decentralized Transaction coins...".
The ETF doesn't really matter though, financial instruments will be constructed of any worthwhile asset, you can never stop that.
Perpetual debasement Whac-A-Mole.
Offchain solutions are the real problem, if Gavin and Co are incorrect in their analysis that technological progress will eventually lead to a network that is as fast as VISA/MASTERCARD/PayPal, then offchain payment processors will become the only way Bitcoin hits the masses. If this happens it will make room for a competitor that is natively as fast as VISA without needing to sell its soul to the devil. (payment processors)
It is clearly possible to design a crypto-currency that can scale way beyond VISA/MC/PayPal and remain decentralized for mining. Don't expect it from Bitcoin though.
But that is not what will prevent offchain from proliferating, although it is a first requirement. Offchain is used because it is more attractive, convenient, and easy for the user.
I believe there is a solution. But it is currently one of my secrets that I am not yet willing to share publicly.
I still believe in that concept, but I think that a more agile team willing to take risks has more chance of succeeding by implementing the changes needed. For some reason bitcoin has not been changing, it's too afraid.
Yup. And if I was Risto, I would have invested in at least a dozen startup altcoins, trying to find the one that could innovate and hit a homerun. Letting your capital sit in Bitcoin is such a waste of scarce time. But I don't fault him, because venture investment doesn't appear to be his forte.
At least he started this thread, and he did bring in more serious interest into altcoins. So I shouldn't downplay his role too much.
Risto you are not just laying down. You are also actively trying to find better solutions.
Risto trying to pick the winner reminds me of the government agencies trying to pick the winning technologies, e.g. China provided incentives to push into solar and now solar didn't pan out and going bankrupt.
I am hoping the Monero team realize that ideal of mine, that they will continue to push the technology.
I have faith that monero could be the beginnings of this perfect coin.
I have faith that monero could be the beginnings of this perfect coin.
They might.
Crypto currencies function by no decree. They are decentrally produced.
Bitcoin is centrally produced for mining (Ghash.io + any other pool have > 50% of hashrate) and protocol development.
With the coming ETFs and other offchain entities, it will soon by top-controlled for investment and transactions too.
Raise your hindquarters in the air for some Butthurt.
The ETF doesn't really matter though, financial instruments will be constructed of any worthwhile asset, you can never stop that.
Offchain solutions are the real problem, if Gavin and Co are incorrect in their analysis that technological progress will eventually lead to a network that is as fast as VISA/MASTERCARD/PayPal, then offchain payment processors will become the only way Bitcoin hits the masses. If this happens it will make room for a competitor that is natively as fast as VISA without needing to sell its soul to the devil. (payment processors)
This comes down to your confidence in the words of the Bitcoin core team. I see that you believe that they will be proven wrong and Bitcoin will not scale.
I agree and disagree. I believed in a concept I call the greed incentive, that a software will become extremely well designed and capable if all the participants of that software are going to be rewarded beyond their wildest expectations with the continued success of that software.
I still believe in that concept, but I think that a more agile team willing to take risks has more chance of succeeding by implementing the changes needed. For some reason bitcoin has not been changing, it's too afraid.
I am hoping the Monero team realize that ideal of mine, that they will continue to push the technology.
I have faith that monero could be the beginnings of this perfect coin.
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