Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 21322.

TaurusBit

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TaurusBit.com Administrator

Second attempt at $300...

Wexlike

legendary

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299!

Greendragon

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Quote from: JorgeStolfi on July 11, 2015, 08:49:04 AM

Quote from: findftp on July 11, 2015, 07:32:55 AM

You've always been very negative about bitcoin.
Did you change your mind?
You sound very positive about it now, or are you trolling?
Why would you care about the blocksize? It sounds like you care.

The bitcoin protocol is a great advance towards an old computer ssience problem, and was a very interesting experiment in payment technology. As a computer scientist, I could like that.

But I wrote "was" because that experiment has been turned into something that is not nice at all. Mainly, a huge pyramid scheme that is sucking millions of dollars every day from hundreds of thousands of ill-informed people, burning much of it in useless computations, and giving the rest to some smart and/or lucky people. That scheme has ruined the experiment, by pumping up its value to 1000 x what it should have been, and centralizing mining into a handful (literally, 5) of companies.

Bitcoin could still go back to being a nice computing experiment, as it was in 2009, if the price crashed back to cents. It should do that eventually, because the investment pyramid cannot go on forever. But now there is a new unexpected threat: Blockstream has taken control of the reference implementation (BitcoinCore) and intends to turn it into a channel for settlements among big entities, drive all person-to-person traffic off the bitcoin network, to offchain solutions like Coinbase, Circle, or the hypothetical Lightning Network. To achieve that goal, they are refusing to make what should be a no-brainer maintenance fix (raising the block size limit) , spreading FUD about centralization, and trying to descredit Gavin and Mike Hearn.

So I am taking side in this dispute because it is a technical computer science question, and I cannot avoud giving my technical opinion about it. Plus, I have this psychological problem about scammers and cheats -- and I feel that the Blockstream guys are getting pretty close to that...

So you missed the boat?
Must feel bad while waiting till double digits..

cbeast

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Let's talk governance, lipstick, and pigs.

XXXXXXXXXXXX6

JorgeStolfi

hero member

Activity: 910

Merit: 1003

Quote from: findftp on July 11, 2015, 07:32:55 AM

You've always been very negative about bitcoin.
Did you change your mind?
You sound very positive about it now, or are you trolling?
Why would you care about the blocksize? It sounds like you care.

The bitcoin protocol is a great advance towards an old computer ssience problem, and was a very interesting experiment in payment technology. As a computer scientist, I could like that.

But I wrote "was" because that experiment has been turned into something that is not nice at all. Mainly, a huge pyramid scheme that is sucking millions of dollars every day from hundreds of thousands of ill-informed people, burning much of it in useless computations, and giving the rest to some smart and/or lucky people. That scheme has ruined the experiment, by pumping up its value to 1000 x what it should have been, and centralizing mining into a handful (literally, 5) of companies.

Bitcoin could still go back to being a nice computing experiment, as it was in 2009, if the price crashed back to cents. It should do that eventually, because the investment pyramid cannot go on forever. But now there is a new unexpected threat: Blockstream has taken control of the reference implementation (BitcoinCore) and intends to turn it into a channel for settlements among big entities, drive all person-to-person traffic off the bitcoin network, to offchain solutions like Coinbase, Circle, or the hypothetical Lightning Network. To achieve that goal, they are refusing to make what should be a no-brainer maintenance fix (raising the block size limit) , spreading FUD about centralization, and trying to descredit Gavin and Mike Hearn.

So I am taking side in this dispute because it is a technical computer science question, and I cannot avoud giving my technical opinion about it. Plus, I have this psychological problem about scammers and cheats -- and I feel that the Blockstream guys are getting pretty close to that...

dakota neat

hero member

Activity: 658

Merit: 500

give up, governments. the crypto earthquake will be followed by a tsunami.

hd060053

hero member

Activity: 601

Merit: 503

i really think the price will explode when it goes over 300 on finex

the next 24h are critical.

HeXaN

full member

Activity: 122

Merit: 100

Quote from: inca on July 11, 2015, 08:22:16 AM

ETF announced? Wink

I dont think so, this pump comes from China

nioc

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Quote from: ssmc2 on July 11, 2015, 08:12:46 AM

If you're not all in RIGHT NOW, you're doing it wrong.

I bought a few days ago @273 with the last of my fiat. As right now might be my last chance to get in <300 I scrounged a wee bit more and just bought at 296. Good thing the end of the month is 20 days away.

And no I haven't been converting btc into anything else in a while.

inca

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