"oυδείς μωρότερoς των ιατρών αν δεν υπήρχαν oι διδάσκαλoι"
"Nobody could be more fool than the doctors, if there were not for the professors"
Ancient Greek saying.
PS: I'm a professor too
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 24704. (Read 26713602 times)
November 06, 2014, 09:39:03 AM
"oυδείς μωρότερoς των ιατρών αν δεν υπήρχαν oι διδάσκαλoι"
"Nobody could be more fool than the doctors, if there were not for the professors"
Ancient Greek saying.
PS: I'm a professor too
November 06, 2014, 09:18:58 AM
I like this slow creeping up to 350$ much more than huge jump and then crash 
. I think this price climb is worth more .
. I think this price climb is worth more . Double bottom first.
November 06, 2014, 09:00:22 AM
November 06, 2014, 08:58:30 AM
JustusRanvier shoots, JustusRanvier scores.
November 06, 2014, 08:54:01 AM
By your logic shouldn't we already have a single global currency because that is where we would logically converge to?
The world has been trying to converge to a single global currency for many decades. It takes concerted effort by national governments to resist this pressure.
A free market would converge to a single currency.
What I think is that you are implying the convergence to a monopoly, a single globally accepted digital currency.
If you're using the word "monopoly" you're thinking of this in the wrong terms.Currencies are communication standards, like alphabets, or numerical systems, or the metric system, or charging plugs for mobile phones.
Competing standards introduce friction, which the market continually works to erase.
This is a widely observed phenomenon.
I don't think it is in the nature of humanity to agree. There will always be people wanting something else
How nice for you.Hint: Maybe try something some epistemology?
November 06, 2014, 08:48:32 AM
Spondoolies fire:
https://bitcointalksearch.org/topic/m.9451926
https://bitcointalksearch.org/topic/m.9451926
November 06, 2014, 08:43:31 AM
2- after 6 confirmations from other parties, your precious premined blocks are useless and won't be accepted anymore by the blockchain, never, ever ? Unless you're trying to say that he would make some sort of 51% attack forcing his blocks in the chain, publicly ruining the whole project for the gain of a pizza ...
That is what I meant. By mining in secret before publishing the genesis block, he could later post a longer blockchain and invalidate all transactions up to that point, even those in the second block.
It is equivalent to a 51% attack, but limited to the first few weeks or months. (An entity with 51% of the total hashrate could pull the same trick starting at any block, since it could grow an alternative blockhain from that block faster than the rest of the network, and then their doctored chain would prevail on the legitimate one.)
Without the headline in the genesis block, the other collaborators would have to trust him -- namely, that he cared more about an experiment (that he just started) than about a pizza. But the whole point of bitcoin is that one is supposed to trust the system without having to trust any authority, including Satoshi.
November 06, 2014, 08:42:37 AM
huobi with some fake volume
fixed 
November 06, 2014, 08:40:15 AM
November 06, 2014, 08:37:25 AM
huobi with some volume
November 06, 2014, 08:14:17 AM
... (Otherwise he could have pre-mined a few thousand blocks in advance, in secret, and use them later to steal other people's bitcoins.) ...
hhmmm? and how on Earth would he do that ? You realize that
1- after 6 confirmations, the pizza is cold
2- after 6 confirmations from other parties, your precious premined blocks are useless and won't be accepted anymore by the blockchain, never, ever ? Unless you're trying to say that he would make some sort of 51% attack forcing his blocks in the chain, publicly ruining the whole project for the gain of a pizza ...
November 06, 2014, 08:05:50 AM
I'm only trying to point out that people should avoid adopting a black or white stance on bitcoin.
It is not an all-or-nothing thing where either bitcoin succeeds or some other alt does but they do not want to accept the possibility of co-existence.
Unfortunately for your desires, reality does not cooperate with that position.It is not an all-or-nothing thing where either bitcoin succeeds or some other alt does but they do not want to accept the possibility of co-existence.
Money is an all-or-nothing proposition because of opportunity cost.
Every Bitcoin one holds is held at the exclusion of every other possible use for that money, especially other currencies.
The act of holding Freicoin instead of Bitcoin has a calculable cost associated with that action.
If the benefits of holding Freicoin do not exceed that cost, then nobody will hold Freicoin.
When we're talking about the opportunity costs associated with currencies, then it's even worse for small currencies.
The opportunity costs associated with not holding the largest currency increase greater-than-linearly based on the relative difference in adoption between the two currencies.
By your logic shouldn't we already have a single global currency because that is where we would logically converge to?
"Every Bitcoin one holds is held at the exclusion of every other possible use for that money, especially other currencies."
Such is the nature of speculation. You believe currency x will be worth more in the future than currency y hence you hold x instead of y.
The thing is there is no guarantee for this and over time outlooks can change.
I personally think it is likely bitcoin will be worth more in the future, hence I have a few.
But do I know this for certain? No. which is why I am not "all in". Do you know for a fact that bitcoin will always be number 1? Can you guarantee that ripple or ether or nxt, for some obscure and unfathomable reason does not outgrow bitcoin and appears to be more valuable for a majority of people?
[edit]
What I think is that you are implying the convergence to a monopoly, a single globally accepted digital currency.
I don't think it is in the nature of humanity to agree. There will always be people wanting something else
November 06, 2014, 08:00:23 AM
November 06, 2014, 07:55:12 AM
... (Otherwise he could have pre-mined a few thousand blocks in advance, in secret, and use them later to steal other people's bitcoins.) ...
hhmmm? and how on Earth would he do that ? November 06, 2014, 07:52:58 AM
I'm only trying to point out that people should avoid adopting a black or white stance on bitcoin.
It is not an all-or-nothing thing where either bitcoin succeeds or some other alt does but they do not want to accept the possibility of co-existence.
Unfortunately for your desires, reality does not cooperate with that position.It is not an all-or-nothing thing where either bitcoin succeeds or some other alt does but they do not want to accept the possibility of co-existence.
Money is an all-or-nothing proposition because of opportunity cost.
Every Bitcoin one holds is held at the exclusion of every other possible use for that money, especially other currencies.
The act of holding Freicoin instead of Bitcoin has a calculable cost associated with that action.
If the benefits of holding Freicoin do not exceed that cost, then nobody will hold Freicoin.
When we're talking about the opportunity costs associated with currencies, then it's even worse for small currencies.
The opportunity costs associated with not holding the largest currency increase greater-than-linearly based on the relative difference in adoption between the two currencies.
November 06, 2014, 07:46:18 AM
You can both feel free to invest in Freicoin, I'll stick with bitcoin as is thank you very much.
I'm only trying to point out that people should avoid adopting a black or white stance on bitcoin.
It is not an all-or-nothing thing where either bitcoin succeeds or some other alt does but they do not want to accept the possibility of co-existence.
Ask two different people a question and you might get three different answers
.I can both believe in the success of bitcoin and the existence of several successful altcoins.
Either way I'm sure there are exciting job opportunities in the field for years to come so my outlook is bright even if I am not heavily invested
November 06, 2014, 07:42:04 AM
... (Otherwise he could have pre-mined a few thousand blocks in advance, in secret, and use them later to steal other people's bitcoins.) ...
hhmmm? and how on Earth would he do that ?
November 06, 2014, 07:38:14 AM
It seems you were too late for the get-filthy-rich-quick scheme party and are now butthurt, but hey, you can still have an academic interest.
Yes, I was too late for that, but I could have joined the lose-half-your-life-savings party. I missed that too, unfortunately.
November 06, 2014, 07:35:09 AM
Now can everyone stop feeding this cunt please?
No. He's stubbornly wrong, but polite and intelligent (though misguided) in his arguments. If this community cannot tolerate that much dissent, it'd be too pathetic to be true.
I happen to pay attention to that guy and many of his post make sense, we people usually hate truth and like to contradict it to make it fit our hopes, wishes and delusions...but when did you became one of the delusional bull-tards? I used to enjoy most of your posts, sad that you started to act like an imbecile lately.
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