Topic: Will destroying Bitcoin by fixing it make us insanely wealthy? - page 2. (Read 24193 times)
How does mining without POW work?
Quote
My technological approach with my attempt to find an improvement to Satoshi's design, has been to try to find a design in which nobody is in control.
Many obese fat flippers will invest for this idea alone.Some of these lard ass whale types still have over 10k stacks of bitcoin they bought at 25 cents just waiting for anonymint to stand out from behind the curtain and expose his big
uasf will kick miners out if they dont behave
I already agreed in my prior post. And are you satisfied with the UASF being in centralized control?
Do you know who is the $billionaire leader of (or leading spokesman for his cohort whales who comprise) the UASF?
http://trilema.com/2015/if-you-go-on-a-bitcoin-fork-irrespective-which-scammer-proposes-it-you-will-lose-your-bitcoins/
Here is more about him.
Here is one quote from him:
Quote from: http://trilema.com/2014/hey-stupid-women-we-need-to-talk-smart-women-dont-want-to-be-with-you-anymore/
I wouldn't really have even bothered with this article if there wasn't a third paragraph there, because contrary to what the stupid imagine, I don't use them for dissection material in order to hurt and humiliate them.
It's not about them, I couldn't care less about them, they're not human as far as I'm concerned. Just like I'm all in favour of butchering a million or a billion, or however many cute fluffy bunny rabbits, be it for making medicine, or cosmetics, or music out of their cries of agony, or whatever else - I'm equally in favour of torturing, mistreating and abusing the stupid in absolutely any way. That's what they're here for, after all, and if that's what gets you off by all means, who cares.
It doesn't really do anything for me, but nevertheless I will dissect them, with no regard to their own whatever bullshit, if I figure I could use the parts to teach, illuminate and instruct people about stupidity. And so here we go, check out the spots on Miscreanity's liver.
It's not about them, I couldn't care less about them, they're not human as far as I'm concerned. Just like I'm all in favour of butchering a million or a billion, or however many cute fluffy bunny rabbits, be it for making medicine, or cosmetics, or music out of their cries of agony, or whatever else - I'm equally in favour of torturing, mistreating and abusing the stupid in absolutely any way. That's what they're here for, after all, and if that's what gets you off by all means, who cares.
It doesn't really do anything for me, but nevertheless I will dissect them, with no regard to their own whatever bullshit, if I figure I could use the parts to teach, illuminate and instruct people about stupidity. And so here we go, check out the spots on Miscreanity's liver.
Shelby; If you would need to assess the relative seniority of me and Mircea Popescu, which criteria would you use?
Hi Risto. Please excuse my atrocious ignorance, naivete, and cluelessness w.r.t. the underworld of
In particular I would really like to understand what is different if anything about your perspective/approach compared to MP's economic philosophy and assessment of the value of humanity. MP seems to think those with the most wealth should be in control of the monetary system yet he hates democracy and mass marketing because he sees those as ways of enslaving the stupid masses in a farcical, house-of-cards, debt-based economic system. Perhaps it can't be any other way? My technological approach with my attempt to find an improvement to Satoshi's design, has been to try to find a design in which nobody is in control.
So I would judge your ability to enlighten me on these issues—either in public or private communication—as the critieria.
Without publicizing any specific event, your actions indicate you are wealthy.
He wrote about you:
Quote from: zylche
What do you think about the developers frequently receiving threats by bitcoiners? Or the guild and certain developers trying to push for a centralised validation services?
Bitcointalk is a collection of mostly poor, mostly uneducated, mostly bizarre folk you wouldn't have on your lawn/daughter/whatever. The various shit they do is representative of Bitcoin in the sense Jeremiah Wright is representative of xtians or Cornel West is representative of academia. Specifically about threaths... I get threatened all the time on teh Interwebs. I've never managed to care (yes I'm aware "the FBI takes internet threats very seriously", but I've never managed to care about that, either).
People will always try to push for centralised something or the other as long as they figure they'll have more market share of the centralised thing than they do now. As various failures are pushed aside to rot into irrelevance they're certain to try and find some sympathetic ear to enforce protectionist measures for them too (que Winklewhoever doods ranting about "regulation"). That topic is best served here.
In short I don't think either are suprising or important.
its easy to pick on other system's weak points
the truth is, bitcoin is 7+ years old and counting
power is supposed to be on constant tension
satoshi designed bitcoin so we dont have to trust the generals (miners)
we have come up with UASF within bitcoin itself, we can kick generals ass, the chinese cartel cant go around doing whatever they want without consequences and they know it
this is resulting in some miners backpeddling and supporting segwit, price going up already and alts dumping for btc
the system is working
again: lets see if you can do better with your coin
all systems have weak points, yours will be no different
lets see if your system can be on the spotlight for 5+ years without collapsing
easier said than done
if you can make me rich off a 1k investment like early 2009 investors in bitcoin i will eat my words
but i doubt you can get this done to create a new black swan and create a legendary investing opportunity like bitcoin was
satoshis come every 100 years or so
i dont believe you figured every bitcoin weakness out and have a coin that will make us all rich
im always unlucky so its imposible that i become rich
No thank you.
Newbie's without a known history and reputation are ignored. You joined BCT today.
Maybe you need some experience before your views will stabilize. We've been around here for several years and prolly have more knowledge about the issues.
Your feedback was more or less vacuous. You did not supply any reasoning. One Newbie's vote is reflective/indicative of what reality?
No thank you.
Do it, show them all!
Just be sure you not coding it on javascript or any other meme language.
Just be sure you not coding it on javascript or any other meme language.
Yeah we challenge you to do it and let's see the outcome of your work.
uasf will kick miners out if they dont behave
I already agreed in my prior post. And are you satisfied with the UASF being in centralized control?
Do you know who is the $billionaire leader of (or leading spokesman for his cohort whales who comprise) the actual "UASF" (i.e. the economic majority)?
http://trilema.com/2015/if-you-go-on-a-bitcoin-fork-irrespective-which-scammer-proposes-it-you-will-lose-your-bitcoins/
Here is more about him.
Here is one quote from him:
Quote from: http://trilema.com/2014/hey-stupid-women-we-need-to-talk-smart-women-dont-want-to-be-with-you-anymore/
I wouldn't really have even bothered with this article if there wasn't a third paragraph there, because contrary to what the stupid imagine, I don't use them for dissection material in order to hurt and humiliate them.
It's not about them, I couldn't care less about them, they're not human as far as I'm concerned. Just like I'm all in favour of butchering a million or a billion, or however many cute fluffy bunny rabbits, be it for making medicine, or cosmetics, or music out of their cries of agony, or whatever else - I'm equally in favour of torturing, mistreating and abusing the stupid in absolutely any way. That's what they're here for, after all, and if that's what gets you off by all means, who cares.
It doesn't really do anything for me, but nevertheless I will dissect them, with no regard to their own whatever bullshit, if I figure I could use the parts to teach, illuminate and instruct people about stupidity. And so here we go, check out the spots on Miscreanity's liver.
It's not about them, I couldn't care less about them, they're not human as far as I'm concerned. Just like I'm all in favour of butchering a million or a billion, or however many cute fluffy bunny rabbits, be it for making medicine, or cosmetics, or music out of their cries of agony, or whatever else - I'm equally in favour of torturing, mistreating and abusing the stupid in absolutely any way. That's what they're here for, after all, and if that's what gets you off by all means, who cares.
It doesn't really do anything for me, but nevertheless I will dissect them, with no regard to their own whatever bullshit, if I figure I could use the parts to teach, illuminate and instruct people about stupidity. And so here we go, check out the spots on Miscreanity's liver.
Shelby; If you would need to assess the relative seniority of me and Mircea Popescu, which criteria would you use?
Hi Risto. Please excuse my atrocious ignorance, naivete, and cluelessness w.r.t. the underworld of
In particular I would really like to understand what is different if anything about your perspective/approach compared to MP's economic philosophy and assessment of the value of humanity. MP seems to think those with the most wealth should be in control of the monetary system yet he hates democracy and mass marketing because he sees those as ways of enslaving the stupid masses in a farcical, house-of-cards, debt-based economic system. Perhaps it can't be any other way? My technological approach with my attempt to find an improvement to Satoshi's design, has been to try to find a design in which nobody is in control.
So I would judge your ability to enlighten me on these issues—either in public or private communication—as the critieria.
Without publicizing any specific event, your actions indicate you are wealthy.
He wrote about you:
Quote from: zylche
What do you think about the developers frequently receiving threats by bitcoiners? Or the guild and certain developers trying to push for a centralised validation services?
Bitcointalk is a collection of mostly poor, mostly uneducated, mostly bizarre folk you wouldn't have on your lawn/daughter/whatever. The various shit they do is representative of Bitcoin in the sense Jeremiah Wright is representative of xtians or Cornel West is representative of academia. Specifically about threaths... I get threatened all the time on teh Interwebs. I've never managed to care (yes I'm aware "the FBI takes internet threats very seriously", but I've never managed to care about that, either).
People will always try to push for centralised something or the other as long as they figure they'll have more market share of the centralised thing than they do now. As various failures are pushed aside to rot into irrelevance they're certain to try and find some sympathetic ear to enforce protectionist measures for them too (que Winklewhoever doods ranting about "regulation"). That topic is best served here.
In short I don't think either are suprising or important.
you are giving people fake hopes of getting rich with your coin when you didn't even release a whitepaper. come back when you have functional software. if you make us rich then you are a legend if not you will dissapoint after all this talk so get to work.
i think you cant beat bitcoin, bitcoin too strong. bitcoin will recover from this, uasf will kick miners out if they dont behave. uasf serve as a way to put pressure on miners.
bitcoin still best coin, best system, best network effect, best everything. good luck trying to beat it.
i think you cant beat bitcoin, bitcoin too strong. bitcoin will recover from this, uasf will kick miners out if they dont behave. uasf serve as a way to put pressure on miners.
bitcoin still best coin, best system, best network effect, best everything. good luck trying to beat it.
Wish you Good Luck
I'm just shocked by such statements. Is it really the same to people that it will be with bitcoin or maybe they are not interested in how the financial situation can improve in the future due to the growth of the bitcoin price. Incredible. Everyone talks about the collapse of bitcoins. But this is stupid. 
Wish you Good Luck
Why the Bitcoin whales must have small blocks. This is very important. It also relates to the OP in a very important way.
Will follow this
Note the OP edit:
I presume it is of interest to reply here on the deflationary point.
A deflationary, perpetually-divisible unit is exactly what's necessary for both hodlers and adopters. Ripple had an interesting take.
Some argue that deflationary is bad because the capitalist can just sit on their capital and not invest it. But the capitalist who is investing doesn't want the ecosystem growth to be siphoned off to who ever is receiving the minted coins. And the capitalist is competing against their cohorts who invest and amplify their relative gains. We must distinguish between a consistent and low-level of deflation from a debt-deflation Minsky Moment implosion:
Edit: a mining cartel has an incentive to violate the 21 million coin limit. Why wouldn't they?
I presume it is of interest to reply here on the deflationary point.
It is ultimately deflationary (i.e. the money supply shrinks later) so that is even better for investors than the 21 million coins limit.
A deflationary, perpetually-divisible unit is exactly what's necessary for both hodlers and adopters. Ripple had an interesting take.
Some argue that deflationary is bad because the capitalist can just sit on their capital and not invest it. But the capitalist who is investing doesn't want the ecosystem growth to be siphoned off to who ever is receiving the minted coins. And the capitalist is competing against their cohorts who invest and amplify their relative gains. We must distinguish between a consistent and low-level of deflation from a debt-deflation Minsky Moment implosion:
Once begun, deflation can weaken an already tottering economy in three ways. First, because the wealthy save more of their incomes than the middle classes, a redistribution from borrowers to lenders in itself depresses spending. Second, deflation encourages people to postpone large purchases in anticipation of lower prices in the future. Third, when prices are falling, money grows in value even when it sits around a shoebox or a zero-interest checking account. Hence, pools of saving are less likely to find their way into the financial markets where they can be borrowed and spent. All of this can exacerbate an economic downturn and, in turn, generate greater deflationary pressures.
Quote
“Appear weak when you are strong, and strong when you are weak.”
“The supreme art of war is to subdue the enemy without fighting.”
“The supreme art of war is to subdue the enemy without fighting.”
I like this & as I am a feeble and pathetic loser it helps my self esteem.
I have a "blockchain" (aka hash chain) consensus design which eliminates PoW, is not nothing-at-stake (i.e. is not PoS nor Tendermint's Byzantine agreement) which puts the users of the system back in charge. It eliminates the waste of electricity and it remains decentralized regardless the level of whale concentration of the token supply.
It is ultimately deflationary (i.e. the money supply shrinks later) so that is even better for investors than the 21 million coins limit.
It is ultimately deflationary (i.e. the money supply shrinks later) so that is even better for investors than the 21 million coins limit.
A deflationary, perpetually-divisible unit is exactly what's necessary for both hodlers and adopters. Ripple had an interesting take.
Re: Do miners really think destroying Bitcoin will make them rich?
Even the mere fact that it is possible, would scare away investors. These miners has had enough power and leverage over the rest of the people using Bitcoin and I for one would welcome any change in the code to eliminate that power. These SonsAbitches are killing Bitcoin for their own profit and they want the rest of us to sit back and take it up the a$$.
They seem to forget that Bitcoin has no value, if nobody wants to buy or use it, so the power is not in their hands.
They seem to forget that Bitcoin has no value, if nobody wants to buy or use it, so the power is not in their hands.
From my observation, a shrinking percentage of Bitcoin users understand how the system works. If government points and says "approved" to Bitcoin, it won't matter what the miners have done. They (either faction) will have handed the world over to bankers and lawyers on a silver platter.
I'll be shipping this technology with unlimited TPS scaling and instant (sub-second) block confirmations.
It will not be an ICO. The distribution will be mined by the users without any PoW.
It is just time.
Feel free to give me any feedback in the comment section below. Are you with me on this if I deliver the goods and it is all verified to be legit?
It will not be an ICO. The distribution will be mined by the users without any PoW.
It is just time.
Feel free to give me any feedback in the comment section below. Are you with me on this if I deliver the goods and it is all verified to be legit?
Rhetorical question? That's like asking whether an investor is on-board if a deal makes sense...
I'll also appreciate my edification about any dangers of doing this and other information which might be helpful for me to gauge the landscape that lies in front of me.
I'll presume good developers will come join and help. They can earn a lot of money for doing so.
I'll presume good developers will come join and help. They can earn a lot of money for doing so.
My biggest question so far: what is the extent of intergration/interoperability with external platforms and services, not just blockchains? I'm assuming that's the focus on developers for apps, but do they need to recreate functionality or can data be utilized from existing sources? I think leveraging what exists is critical.
Is there a minimum viable participation level necessary to keep the system functioning? One node, a hundred, etc?
You've been about this forum a lot longer than I have and I'll be honest your knowledge of all things crypto is way above mine. So while I'd be cautious of anyone making any sort of claim as to the bitcoin killer, you do generally provide evidence for anything you say, and your posts are more than just FUD and hype (certinaly can't think of an instance of you hyping anything).
You certainly seem convinced you can do this so given there's no ico, and no premine and I can get on board on day 1, yeah, I'll say (tentatively) I'm in. I'd want to see an actual product with a clear roadmap before getting started though.
You certainly seem convinced you can do this so given there's no ico, and no premine and I can get on board on day 1, yeah, I'll say (tentatively) I'm in. I'd want to see an actual product with a clear roadmap before getting started though.
It will not be an ICO. The distribution will be mined by the users without any PoW.
It is just time.
It is just time.
I'm not sure how can this be made to not be abused (single user mining 10k addresses, VPN, whatever), I hope that your design handles that.
Also my post can be interpreted as an attempt to influence Core and BU to compromise and stop messing up the nice rally we had going.
Good luck with that. While I still hope myself for a good compromise, somehow I believe that they are past that point
Also my post can be interpreted as an attempt to influence Core and BU to compromise and stop messing up the nice rally we had going. Although I am fairly certain they don't take a post like this seriously. Refer the "Art of War" quotes in the OP.
@thejaytiesto, I like skepticism and smart people who verify before jumping (that's usually necessary for survival from the top of tall things). I hope you've hedged your BTC but not to fiat, so that you can take advantage of any rise overall in cryptos (thus you must hedge by buying an alt).
I don't intend too post much in this thread. I'll be reading. Technical replies will happen else where.
@thejaytiesto, I like skepticism and smart people who verify before jumping (that's usually necessary for survival from the top of tall things). I hope you've hedged your BTC but not to fiat, so that you can take advantage of any rise overall in cryptos (thus you must hedge by buying an alt).
I don't intend too post much in this thread. I'll be reading. Technical replies will happen else where.
BTC is extremely risky at this point. Worst case 0$, best case 1300-1500$ usd. But the scaling problems and the impossibility to implement them (segwit, LN) will still remain, for the same reasons they haven't been already implemented.
Crypto world is changing, aiming to become and being a flawed payment system is still not enough and BTC brand is fading. And a project for each specific use other than payment systems won't work either ( see namecoin, soon to be wiped out by ENS on ethereum ).
Crypto world is changing, aiming to become and being a flawed payment system is still not enough and BTC brand is fading. And a project for each specific use other than payment systems won't work either ( see namecoin, soon to be wiped out by ENS on ethereum ).
As you know, I am willing to give you a fair chance, since you have been here for years and seem to be onto something. Of course, the natural skeptic on me and also the experience of seeing endless scams in the altcoin world by people that claim to have the next big thing makes me wait to see the code and how experts react to it before I get excited about being an early adopter and future multi millionaire of the "next bitcoin", I think this is understandable specially for someone that isn't an experienced coder so aren't 99% of people so we can't simply sit back and read the code, we will have to rely on peer reviews from trusted coders.
About BTC going south... well, in my case that wouldn't be good. How im supposed to invest in your project if I lose my money? my entire portfolio is on BTC right now because BTC is the best way to buy into any other project in this field (problem is, no other project is really worth risking BTC at thus far). Yeah ETH is considered as a short term hedge, but ultimately ETH doesn't solve any of the fundamental BTC problems and has added risks so I don't have confidence in moving there.
I don't want to go into fiat, because as soon as I do, i'll get raped by taxes and not only that, but the added risk of account confiscation since more and more banks are blocking transactions linked to bitcoin.
To be frank this is a clusterfuck since I've got this decent 5 figure wealth in bitcoin which is not much but for me is a lot, and I don't know what to do with it. Nothing feels safe, and even under the storm of the Jihan Wu hard fork attack, bitcoin still feels like the safest option since the possibility that ultimately there is no HF is also real (or BUcoin getting instadumped and BTC recovering quickly by all the people that has been dreaming about getting in the bitcoin train cheap jumping in aka FOMO)
About BTC going south... well, in my case that wouldn't be good. How im supposed to invest in your project if I lose my money? my entire portfolio is on BTC right now because BTC is the best way to buy into any other project in this field (problem is, no other project is really worth risking BTC at thus far). Yeah ETH is considered as a short term hedge, but ultimately ETH doesn't solve any of the fundamental BTC problems and has added risks so I don't have confidence in moving there.
I don't want to go into fiat, because as soon as I do, i'll get raped by taxes and not only that, but the added risk of account confiscation since more and more banks are blocking transactions linked to bitcoin.
To be frank this is a clusterfuck since I've got this decent 5 figure wealth in bitcoin which is not much but for me is a lot, and I don't know what to do with it. Nothing feels safe, and even under the storm of the Jihan Wu hard fork attack, bitcoin still feels like the safest option since the possibility that ultimately there is no HF is also real (or BUcoin getting instadumped and BTC recovering quickly by all the people that has been dreaming about getting in the bitcoin train cheap jumping in aka FOMO)
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