Topic: rpietila Wall Observer - the Quality TA Thread ;) - page 123. (Read 907212 times)
I'm sorry. The quotes were saved over the years from various sources. Google a sentence and you may find the original author.
In perilous times, it's best to take out Bitcoin's best quotes again:
Quote
Bitcoin is going to disrupt every power structure there is in society today. It is going to end the say-so of the oil baron heirs of the 1800s, it is going to end the United States' economic dominance and its reserve currency, and it is going to streamline the economy to end many of the scale advantages that large corporations have held, decentralizing the entire worldwide economy.
Bitcoin is going to change society to a larger extent than the Internet. But this won't be obvious in 2013, or 2014, or even 2015. It is going to be felt in 2025, and obvious in 2035.
Bitcoin is going to change society to a larger extent than the Internet. But this won't be obvious in 2013, or 2014, or even 2015. It is going to be felt in 2025, and obvious in 2035.
Quote
As I said before, no one really knows if the time has come when ‘mere agreement’ can serve as a foundation for value. And as such, we don’t know if Bitcoin will succeed or not. But if it does, as I claimed at the very beginning of this piece, it will herald a new age of human civilisation. This was no hyperbole. It will be the first time that a true currency has come into being on the basis of mere agreement only (Yap counts as a proof of concept only). The implications of this accomplishment will be enormous. It will represent the first genuine instance of emergent and de-centralised global self governance. I can’t overstate how remarkable an achievement this will be. It will open a Pandora’s Box of possibility. We will have proved to ourselves that we can sustain a currency on the basis of mere agreement only. We will have proved that we can govern ourselves directly. Currency will just be the beginning. We won’t want to stop there.
Quote
It is inevitable that a crypto-currency takes the place of government backed or commodity backed currency. It is the natural evolution of money onto the internet. Less friction, more anonymity, a free flow of value around the world. This will happen no matter how many roadblocks you place in front of it, just as the sharing of most of our assets in order to increase capacity utilization will happen as well. It is the path of least resistance.
Can you provide attributes for each of these quotes? In other words, who made each and when and in what context (medium)?
...
Tell us more about Monero, please. I already got 3-4 times more XMR than BTC (in units, not in actual value), and would like to understand it better. Seems awesome on the surface, but will it ever grow beyond the current state? I am willing to risk a bit more on it, as it sounds quite appealing.
Tell us more about Monero, please. I already got 3-4 times more XMR than BTC (in units, not in actual value), and would like to understand it better. Seems awesome on the surface, but will it ever grow beyond the current state? I am willing to risk a bit more on it, as it sounds quite appealing.
XMR (Monero) is currently the leading CryptoNote coin. Some of the primary advantages are privacy enforced by ring signatures. This addresses issues such as blockchain analysis, tainted coins etc. Unlike XBT where blockchain analysis can be a real issue. The other big advantage in my books is adaptive limits (which particularly means no 1 MB blocksize limit). Monero also has a very strong and growing community, it is rare among alt-coins in that is has a very fair launch. This is important when many alt-coins are plagued by allegations of premine, instamine, ninjamine etc. It has a good chance of making it into the top five and even the top three in my opinion.
What I suggest for anyone interested in XMR is to spend time doing the research, understand the community, what coins are direct competitors etc. I would start with the threads on this forum, the CryptoNote site etc.
Here are some links to get started
https://cryptonote.org/ CryptoNote site
http://www.monero.cc/ Monero site
https://bitcointalksearch.org/topic/xmr-monero-a-secure-private-untraceable-cryptocurrency-583449 Monero Announcement.
https://bitcointalksearch.org/topic/rpietila-altcoin-observer-624223 rpietila Altcoin Observer
https://bitcointalk.org/index.php?topic=702140.0;all [XMR] rpietila Monero Economics.
https://bitcointalksearch.org/topic/monero-community-hall-of-fame-700400 -> Monero Community Hall of Fame <- (Donations Thread)
https://bitcointalksearch.org/topic/xmr-monerox-a-cross-platform-graphical-account-manager-for-monero-683365 Microsoft Windows wallet thread (As a GNU/Linux user, I have little use for this thread)
https://bitcointalksearch.org/topic/monero-xmr-speculation-thread-622708 Monero (XMR) Speculation thread
https://bitcointalksearch.org/topic/monero-economy-597878 Monero Economy
https://bitcointalksearch.org/topic/xmr-monero-community-faq-721045 [XMR] Monero Community FAQ
https://bitcointalksearch.org/topic/monero-support-652305 Monero Support
Edit: I will be adding more links that are relevant for research on XMR:
2014-08-14 https://bitcointalk.org/index.php?topic=740112.0;all Blowing the lid off the CryptoNote/Bytecoin scam (with the exception of Monero)
Is there any effort being put towards minimization of blockchain bloat, which seems the biggest issue?
No - we've discussed this on a number of occasions, and it's truly a non-issue until someone can prove to us that it is. The amount of hot air around this issue shows how poorly it's understood.
The first thing to remember is that all cryptocurrencies with "mixing" and other fluff in a bid for "anonymity" will end up with bloat. "But they can prune their blockchain!", I hear you say. Except that Bitcoin doesn't currently have the code in place to prune its blockchain or work off a pruned blockchain, and you can bet that some random altcoin developer doesn't have the technical chops to do this.
Consider, too, why this isn't "the biggest issue" for Bitcoin. Does Bitcoin's 20gb blockchain hamper adoption? No, because mostly everyone uses lightweight clients or web wallets.
The reality is that bandwidth and disk capacity is ever advancing, and there is little reason to think that Monero has a major issue if its blockchain ends up matching Bitcoin's and hits 110gb in 5 year's time. That having been said, there are definitely ways to trim on-disk usage, and we will look at doing this as time goes on. For the foreseeable future, though, this is a much lower priority than most things.
Blockchain bloat is a non issue as far as I am concerned. What is an issue with Bitcoin is the 1MB blocksize limit and the fear of bloat in the community regarding its change. As I mentioned earlier in this thread if this is not addressed it will cause problems. XMR (Monero) does not have the 1MB blocksize limit limitation.
Tell us more about Monero, please. I already got 3-4 times more XMR than BTC (in units, not in actual value), and would like to understand it better. Seems awesome on the surface, but will it ever grow beyond the current state? I am willing to risk a bit more on it, as it sounds quite appealing.
alt coins are stupid as long term investments, they are pretty fun for the short term gambling addiction
they question is whether they could become Bitcoin 2.0 or Google/facebook vs Yahoo using the Internet analogy. Google was just a search prompt on a single page, but once you put something in that prompt, it was almost magical for that time (in speed and accuracy), hence they succeeded to become #1. I am not sure that it applies here, though.
Is there any effort being put towards minimization of blockchain bloat, which seems the biggest issue?
No - we've discussed this on a number of occasions, and it's truly a non-issue until someone can prove to us that it is. The amount of hot air around this issue shows how poorly it's understood.
The first thing to remember is that all cryptocurrencies with "mixing" and other fluff in a bid for "anonymity" will end up with bloat. "But they can prune their blockchain!", I hear you say. Except that Bitcoin doesn't currently have the code in place to prune its blockchain or work off a pruned blockchain, and you can bet that some random altcoin developer doesn't have the technical chops to do this.
Consider, too, why this isn't "the biggest issue" for Bitcoin. Does Bitcoin's 20gb blockchain hamper adoption? No, because mostly everyone uses lightweight clients or web wallets.
The reality is that bandwidth and disk capacity is ever advancing, and there is little reason to think that Monero has a major issue if its blockchain ends up matching Bitcoin's and hits 110gb in 5 year's time. That having been said, there are definitely ways to trim on-disk usage, and we will look at doing this as time goes on. For the foreseeable future, though, this is a much lower priority than most things.
Blockchain bloat is a non issue as far as I am concerned. What is an issue with Bitcoin is the 1MB blocksize limit and the fear of bloat in the community regarding its change. As I mentioned earlier in this thread if this is not addressed it will cause problems. XMR (Monero) does not have the 1MB blocksize limit limitation.
Tell us more about Monero, please. I already got 3-4 times more XMR than BTC (in units, not in actual value), and would like to understand it better. Seems awesome on the surface, but will it ever grow beyond the current state? I am willing to risk a bit more on it, as it sounds quite appealing.
Is there any effort being put towards minimization of blockchain bloat, which seems the biggest issue?
No - we've discussed this on a number of occasions, and it's truly a non-issue until someone can prove to us that it is. The amount of hot air around this issue shows how poorly it's understood.
The first thing to remember is that all cryptocurrencies with "mixing" and other fluff in a bid for "anonymity" will end up with bloat. "But they can prune their blockchain!", I hear you say. Except that Bitcoin doesn't currently have the code in place to prune its blockchain or work off a pruned blockchain, and you can bet that some random altcoin developer doesn't have the technical chops to do this.
Consider, too, why this isn't "the biggest issue" for Bitcoin. Does Bitcoin's 20gb blockchain hamper adoption? No, because mostly everyone uses lightweight clients or web wallets.
The reality is that bandwidth and disk capacity is ever advancing, and there is little reason to think that Monero has a major issue if its blockchain ends up matching Bitcoin's and hits 110gb in 5 year's time. That having been said, there are definitely ways to trim on-disk usage, and we will look at doing this as time goes on. For the foreseeable future, though, this is a much lower priority than most things.
Blockchain bloat is a non issue as far as I am concerned. What is an issue with Bitcoin is the 1MB blocksize limit and the fear of bloat in the community regarding its change. As I mentioned earlier in this thread if this is not addressed it will cause problems. XMR (Monero) does not have the 1MB blocksize limit limitation.
Just for fun I calculated that it would have been possible to send 1 MB of data over the telegraph network back in 1913; however it would only have been affordable to someone with a net worth comparable to that of J. P. Morgan https://en.wikipedia.org/wiki/J._P._Morgan
Is there any effort being put towards minimization of blockchain bloat, which seems the biggest issue?
No - we've discussed this on a number of occasions, and it's truly a non-issue until someone can prove to us that it is. The amount of hot air around this issue shows how poorly it's understood.
The first thing to remember is that all cryptocurrencies with "mixing" and other fluff in a bid for "anonymity" will end up with bloat. "But they can prune their blockchain!", I hear you say. Except that Bitcoin doesn't currently have the code in place to prune its blockchain or work off a pruned blockchain, and you can bet that some random altcoin developer doesn't have the technical chops to do this.
Consider, too, why this isn't "the biggest issue" for Bitcoin. Does Bitcoin's 20gb blockchain hamper adoption? No, because mostly everyone uses lightweight clients or web wallets.
The reality is that bandwidth and disk capacity is ever advancing, and there is little reason to think that Monero has a major issue if its blockchain ends up matching Bitcoin's and hits 110gb in 5 year's time. That having been said, there are definitely ways to trim on-disk usage, and we will look at doing this as time goes on. For the foreseeable future, though, this is a much lower priority than most things.
It will be >10k but not this year 
Ya, he made that brilliant call back in 2011. 
Gotta be honest though, it was definitely a level-headed, non-emotional data-driven prediction. Much like everything else that leaves his keyboard. /sarcasm
Ah, sorry to unignore you just for a moment to say that as you can check, my account is activated in 2012, so it is unlikely I would have made that brilliant call in 2011...
The most egregious prediction I actually have made, is the belief that Bitcoin would reach $300,000 by the end of 2013. Because I believed this myself, I went nearly all-in when the price was $100, and sold a few months later to buy a castle and other nice things. So I was wrong with the number but right on the timing.
This time I am right with the number but wrong with the timing. But I have patience.
we will get to 300.000$, sooner or later
It will be >10k but not this year
Ya, he made that brilliant call back in 2011. Gotta be honest though, it was definitely a level-headed, non-emotional data-driven prediction. Much like everything else that leaves his keyboard. /sarcasm
Ah, sorry to unignore you just for a moment to say that as you can check, my account is activated in 2012, so it is unlikely I would have made that brilliant call in 2011...
The most egregious prediction I actually have made, is the belief that Bitcoin would reach $300,000 by the end of 2013. Because I believed this myself, I went nearly all-in when the price was $100, and sold a few months later to buy a castle and other nice things. So I was wrong with the number but right on the timing.
This time I am right with the number but wrong with the timing. But I have patience.
A big, fat, ugly fly landed on my glass of afternoon wine and quickly drowned. I drank the wine regardless.
is that a haiku or not?
Someone wrote for fun
"is that a haiku or not?"
They are now ignored
It will be >10k but not this year
Ya, he made that brilliant call back in 2011. Gotta be honest though, it was definitely a level-headed, non-emotional data-driven prediction. Much like everything else that leaves his keyboard. /sarcasm
.
He's wise alright.
Let me tell you something, anyone who is stupid enough to take advice from someone who was stupid enough to believe BTC would be at or well above $10k/BTC at this point (actually years ago) deserves to lose everything they put in, period.
Let me tell you something, anyone who is stupid enough to take advice from someone who was stupid enough to believe BTC would be at or well above $10k/BTC at this point (actually years ago) deserves to lose everything they put in, period.
It will be >10k but not this year
He's wise alright.
Let me tell you something, anyone who is stupid enough to take advice from someone who was stupid enough to believe BTC would be at or well above $10k/BTC at this point (actually years ago) deserves to lose everything they put in, period.
Let me tell you something, anyone who is stupid enough to take advice from someone who was stupid enough to believe BTC would be at or well above $10k/BTC at this point (actually years ago) deserves to lose everything they put in, period.
Oh wise rpietila,
Is this the capitulation you have been talking about?
Was this potentially the last great buy opportunity of 2014??
Is this the capitulation you have been talking about?
Was this potentially the last great buy opportunity of 2014??
rpietila when can we finally see your $10k prediction come to fruition? Do you have a revised forecast from your last ~1 year (back in 2011-2012)? Or was it 6 months? Can't remember. jw
A big, fat, ugly fly landed on my glass of afternoon wine and quickly drowned. I drank the wine regardless.
Very useful info, thank you for sharing!
(ever heard about twitter?
)(now I started to see your snobbish self promotion... cigars, wine, cars, villa... (This is how happy and rich people live, everyone!
) Perfect role model for poor/stupid investors who want to become like YOU!)
And the finale...
Be strong, act bold and be confident...
Quote
It's not your money in that bank account; it's their money. You don't issue it, you don't own it, you don't control it. You are simply allowed to use it under strict terms of those who issue it, own it, and control it.
Bitcoin, on the other hand...
Bitcoin, on the other hand...
Quote
bitcoin is backed by an honest protocol/clearing system that has no inflation, no bank holidays, never stops trading, and utter contempt for financial oppression
Be strong, act bold and be confident...
And some more.
Quote
On taking up new chances and pursue innovation:
You can look the future in the eye and say:
I am no longer a captive to history. Whatever I can imagine, I can accomplish.
I am no longer a vassal in a faceless bureaucracy. I am an activist,not a drone.
I am no longer a foot soldier in the march of progress.
I am a Revolutionary.
You can look the future in the eye and say:
I am no longer a captive to history. Whatever I can imagine, I can accomplish.
I am no longer a vassal in a faceless bureaucracy. I am an activist,not a drone.
I am no longer a foot soldier in the march of progress.
I am a Revolutionary.
Quote
"It is no crime to be ignorant of economics Bitcoin, which is, after all, a specialized discipline technology and one that most people consider to be a 'dismal science.' 'magical internet money.' But it is totally irresponsible to have a loud and vociferous opinion on economic subjects Bitcoin while remaining in this state of ignorance."
Quote
"You don't make money buying when you're optimistic. You have to actually run completely counter to your own emotional psychology."
Doug Casey
Doug Casey
In perilous times, it's best to take out Bitcoin's best quotes again:
Quote
Bitcoin is going to disrupt every power structure there is in society today. It is going to end the say-so of the oil baron heirs of the 1800s, it is going to end the United States' economic dominance and its reserve currency, and it is going to streamline the economy to end many of the scale advantages that large corporations have held, decentralizing the entire worldwide economy.
Bitcoin is going to change society to a larger extent than the Internet. But this won't be obvious in 2013, or 2014, or even 2015. It is going to be felt in 2025, and obvious in 2035.
Bitcoin is going to change society to a larger extent than the Internet. But this won't be obvious in 2013, or 2014, or even 2015. It is going to be felt in 2025, and obvious in 2035.
Quote
As I said before, no one really knows if the time has come when ‘mere agreement’ can serve as a foundation for value. And as such, we don’t know if Bitcoin will succeed or not. But if it does, as I claimed at the very beginning of this piece, it will herald a new age of human civilisation. This was no hyperbole. It will be the first time that a true currency has come into being on the basis of mere agreement only (Yap counts as a proof of concept only). The implications of this accomplishment will be enormous. It will represent the first genuine instance of emergent and de-centralised global self governance. I can’t overstate how remarkable an achievement this will be. It will open a Pandora’s Box of possibility. We will have proved to ourselves that we can sustain a currency on the basis of mere agreement only. We will have proved that we can govern ourselves directly. Currency will just be the beginning. We won’t want to stop there.
Quote
It is inevitable that a crypto-currency takes the place of government backed or commodity backed currency. It is the natural evolution of money onto the internet. Less friction, more anonymity, a free flow of value around the world. This will happen no matter how many roadblocks you place in front of it, just as the sharing of most of our assets in order to increase capacity utilization will happen as well. It is the path of least resistance.
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