Author

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 29418. (Read 26609067 times)

legendary
Activity: 1133
Merit: 1163
Imposition of ORder = Escalation of Chaos
I think Jorge's point that logical systems are brittle is well-taken.  They are also robust, within their domain.  Some are provably correct.  Others have extensive stress testing which gives us high confidence in them.  Many are not provably correct.  Many have little stress testing.  Often even very well designed systems have usability flaws which increase the likelihood of operator error resulting in risk or outright harm.

All of which is completely off-topic, but then this is the de facto off-topic thread, and I resemble that remark.

In any case, the primary point I take from that discussion is that one should try to cover for other's errors, in order to be an effective cooperator.  




Well, I kinda feel bad now for being so harsh with Jorge - he really seems a nice guy, and for sure its much better to have him in here than the other thousands trolls that are flooding this forum since October.

What is kinda annoying of him IMO is that he clearly has a lack of understanding of fundamental things linked to Bitcoin, and instead of silently reading and learning what was discussed in the past and try to complement that, he just spits the same old arguments that have been discussed (and debunked) thousands of times before.

Practical example: the "ponzi scheme" thing. We already had an intellectual/economist on the forum who explained us many times and with Jorge's very same words how Bitcoin was a ponzi on the verge of collapse: his moment of glory was during the crash of 2011, and he went to great lengths to explain how Bitcoin was a zero-sum game in which early adopters were assraping late adopters. He cheered with joy during the crash from $32 to $2, but we all know how that played out: the "bag-holders" as he called them (did you think you invented that word, Jorge?) are now holding a bag worth hundreds of times more it was worth during this infamous character's rants. The name of this guy is John Nagle, and you can find his profile here and here a nice web with which he embarassed himself.

And BTW, Mr. Stelfi: please point to us an example of a ponzi scheme which has seen 3 different "boom and bust" cycles in which price deflated as much as it did with Bitcoin, to then recover in such a way as Bitcoin did. Just FYI:

2011: $32 to $2 (-94%)
mid-2013: $266 to $50 (-81%)
late 2013: $1242 to $400ish (-68%)

Maybe because BTC is not a "zero-sum game", or a "ponzi" or a "bubble", despite that's what its critics have said of it from its very inception. Maybe there's much more to it than its mere utility as money, maybe (and only maybe) the distributed blockchain is the promise of a revolution that brings an increased freedom for the people.

I'm afraid that to see that you probably have to look deeper into it.

Jorge, do yourself (and the community) a favor and listen to this guy. He's one of the most knowledgeable and well-spoken individuals on this forum and when he tells you that you need to study the topic more deeply then that is what you probably should do.

When I see your posts I am constantly lamenting the fact that someone with your obvious level of intelligence and attention to detail doesn't use his abilities to come up with new worthwhile ideas (as I'm sure you could) from which the community could benefit, but instead spends his time and energy rehashing arguments of days long past and observing sleep patterns of Chinese people...

Challenge yourself to change your mind every once in a while! I hear it's good for your sanity. I'm not saying you need to become a bulltard cheerleader so you fit in better in the circle jerk. Just open your mind a little bit more, don't worry it won't fall out. Also I know that you are strictly not a holder of bitcoin (presumably so it doesn't affect your "objectivity" in judging it) but as has been said many times before - the experience of owning some btc and using it yourself is beyond description and without this particular experience you can't ever hope to approach anything resembling an "objective opinion" on the technology.
legendary
Activity: 1778
Merit: 1008
You guys think there would be any interest in metal "paper wallets?" like take the info and encrypt it so I can't see it, then etch or engrave into metal (something they won't corrode.)

Wouldn't have to worry about paper degradation or such then.
like this in stainless steel?  http://bitcoinfiresafe.com/products/4-classic-safe-1783

... Yes, yes just like that.
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
newbie
Activity: 43
Merit: 0
You guys think there would be any interest in metal "paper wallets?" like take the info and encrypt it so I can't see it, then etch or engrave into metal (something they won't corrode.)

Wouldn't have to worry about paper degradation or such then.
like this in stainless steel?  http://bitcoinfiresafe.com/products/4-classic-safe-1783
legendary
Activity: 1148
Merit: 1018
I think Jorge's point that logical systems are brittle is well-taken.  They are also robust, within their domain.  Some are provably correct.  Others have extensive stress testing which gives us high confidence in them.  Many are not provably correct.  Many have little stress testing.  Often even very well designed systems have usability flaws which increase the likelihood of operator error resulting in risk or outright harm.

All of which is completely off-topic, but then this is the de facto off-topic thread, and I resemble that remark.

In any case, the primary point I take from that discussion is that one should try to cover for other's errors, in order to be an effective cooperator.  




Well, I kinda feel bad now for being so harsh with Jorge - he really seems a nice guy, and for sure its much better to have him in here than the other thousands trolls that are flooding this forum since October.

What is kinda annoying of him IMO is that he clearly has a lack of understanding of fundamental things linked to Bitcoin, and instead of silently reading and learning what was discussed in the past and try to complement that, he just spits the same old arguments that have been discussed (and debunked) thousands of times before.

Practical example: the "ponzi scheme" thing. We already had an intellectual/economist on the forum who explained us many times and with Jorge's very same words how Bitcoin was a ponzi on the verge of collapse: his moment of glory was during the crash of 2011, and he went to great lengths to explain how Bitcoin was a zero-sum game in which early adopters were assraping late adopters. He cheered with joy during the crash from $32 to $2, but we all know how that played out: the "bag-holders" as he called them (did you think you invented that word, Jorge?) are now holding a bag worth hundreds of times more it was worth during this infamous character's rants. The name of this guy is John Nagle, and you can find his profile here and here a nice web with which he embarassed himself.

And BTW, Mr. Stelfi: please point to us an example of a ponzi scheme which has seen 3 different "boom and bust" cycles in which price deflated as much as it did with Bitcoin, to then recover in such a way as Bitcoin did. Just FYI:

2011: $32 to $2 (-94%)
mid-2013: $266 to $50 (-81%)
late 2013: $1242 to $400ish (-68%)

Maybe because BTC is not a "zero-sum game", or a "ponzi" or a "bubble", despite that's what its critics have said of it from its very inception. Maybe there's much more to it than its mere utility as money, maybe (and only maybe) the distributed blockchain is the promise of a revolution that brings an increased freedom for the people.

I'm afraid that to see that you probably have to look deeper into it.
legendary
Activity: 1778
Merit: 1008
You guys think there would be any interest in metal "paper wallets?" like take the info and encrypt it so I can't see it, then etch or engrave into metal (something they won't corrode.)

Wouldn't have to worry about paper degradation or such then.
legendary
Activity: 2184
Merit: 1213
Question: Can BTC really go up over 700 again till mid 2014??

I mean, this would be the perfect time for every newbie to invest in bitcoin. The price is more then the half from the all time high. But I dont see any newbies, any new money coming in the market? The price goes only down for weeks now. Even without this Gox problem, we went slowly down from 1200 to 700 until the gox problem came.

Why should Bitcoin go up in the next time when it does not go up now? Any reason for this?
legendary
Activity: 1596
Merit: 1030
Sine secretum non libertas
I think Jorge's point that logical systems are brittle is well-taken.  They are also robust, within their domain.  Some are provably correct.  Others have extensive stress testing which gives us high confidence in them.  Many are not provably correct.  Many have little stress testing.  Often even very well designed systems have usability flaws which increase the likelihood of operator error resulting in risk or outright harm.

All of which is completely off-topic, but then this is the de facto off-topic thread, and I resemble that remark.

In any case, the primary point I take from that discussion is that one should try to cover for other's errors, in order to be an effective cooperator.  


legendary
Activity: 1652
Merit: 1029
Bitstamp back up again, it seems. Was down for about 7 min, I think.

SELL SELL SELL  Shocked
legendary
Activity: 1470
Merit: 1007
Bitstamp back up again, it seems. Was down for about 7 min, I think.
legendary
Activity: 1148
Merit: 1018
He did not store his one-time-pad which was on the hard-drive that was later formatted. Or at least did not mention it.

Yes.  

The point of that "stupid joke" was to point out how easily a tiny mistake can turn a strong security scheme into an epic disaster.

The mutlibillion-dollar accident at Three Mile Island began with a faulty safety valve in a redundant part of the cooling system.  The "tiny mistake" was that the corresponding light in the control panel did not show whether the valve was actually closed, but only whether it had been commanded to close.

I am sure there are better examples in computer security but I don't recall one right now.


This is just mental masturbation. Do you need to secure a lot of bitcoins, while still operating recursively with them? THEN YOU USE ARMORY. It's built for that, and it's idiot-proof. Your private keys are backed up by n-of-M paper backups, and you can operate easily by:

  • creating the transactions online
  • signing them offline
  • broadcasting the signed transactions from the online system

What you have written is just pointless. I guess you have too much time to lose, and instead of learning by READING you want to learn by participating in here.



 
legendary
Activity: 1652
Merit: 1029
ugh not you too bitstamp Sad we have taken you for granted....

edit: aaaand it's back
KFR
hero member
Activity: 560
Merit: 500
Per ardua ad luna

oh shit, ohhhh FUCK, the train is right behind us!
GO GO GO!!!!!!!!

Thanks for that chuckle Adam. Grin
sr. member
Activity: 378
Merit: 250
offline on btc wisdom
hero member
Activity: 750
Merit: 601
legendary
Activity: 1148
Merit: 1001
things you own end up owning you
Bitstamp is offline for me..
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1652
Merit: 1029
Aint no trains yet. Let this mofo bottom out guise. We'll be rallying again soon enough, but it's not until gox goxes off.
full member
Activity: 126
Merit: 100
I don't see no train....yet.

Take a look at some trainstations. Ukraine, Argentina, Turkey, Italy, etc.  Wink
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