Gold collapsing. Bitcoin UP.

[solex]

@Jonathan Vaage your link has a rogue space at the start
That major spike in days-destroyed may simply be wallet-shuffling.

 

[Zarathustra]

I'll give them a 30% chance of success so I'll liquidate up to 70% of my coins for those who believe in that 1MB vision.

It won't survive if it doesn't grow a network of like minded investors. And I'm doing my part making coins available for those who believe.

Me too. My ratio is 1:7 (BTC:BCH) already.

 

[Peter R]

Ledger journal just published an exciting new peer-reviewed paper by game theorist Nicola Dimitri which suggests that Bitcoin mining is "monopoly proof":

http://ledgerjournal.org/ojs/index.php/ledger/article/view/96/67

Here's a Reddit post where I explain why I think this new result is important:

https://www.reddit.com/r/btc/comments/6xfpht/new_research_paper_by_university_of_siena_game/

 

[adamstgbit]

@Peter R

its a cool paper with some fancy math i cant understand. I accept there conclusion and believe they are correct.

but this isn't the issue with minning, this issue is - are we willing to have the system ran by governments, because this is where its all going, Russia will be the first "government miner" but will not be the last... it won't take much longer, 10-20 years and minning bitcoin TX is now mostly done by the top 10 governments and governments dont care about profitability they care about Power and Control. this willingness to pay for power eliminates all other actors, bitcoin inevitably becomes controlled by governments!

DOOOOOOOOOOOOOOOOOM!

 

[molecular]

Me too. My ratio is 1:7 (BTC:BCH) already.

Could be a good idea to balance the holdings in fiat. You're pretty balanced by that rule: 4800 / 625 = 7.68

 

[Justus Ranvier]

Anyone with an Android phone want to beta test a new Bitcoin wallet?

PM me for details.

 

[AdrianX]

@Justus Ranvier I get a message that says I can not start a conversation with you.

Anyway I be willing to test.

Hey Justus

I've instance 5 or 6 Android wallets looking for versus features and to be honest I am disappointed.

I'd be keen to try a new one. I see a gap in the market for a secure iOS & Android wallet with a simply offline key management system.

I'd be willing to test it. (I don't use any of the hardware wallets so I can't test those features)

An important angle for me to trust the wallet is to understand the revenue model. I've, as a rule, avoid wallets that don't have a way to support ongoing development and knowing their business reputation is more important than stealing the coins I have stored on my phone is important to me.

Also what's the developer position on BCH support?

Thanks
Adrian

 

[Justus Ranvier]

Fixed my PMs.

I'll answer those questions privately for now to avoid spoilers for the AMA I'll do when we open it up to the public.

 

[Justus Ranvier]

Not quite sure how to interpret getting likes but no PMs.

 

[adamstgbit]

holy smokes bitcoin is on fire!

 

[Mengerian]

Today is a sad day, the end of an era.. Juicero is shutting down.

A trip down memory lane:

In context of the patent talk regarding SegWit and Blockstream and after seeing the following below, I must admit that $70M Blockstream is the pinnacle of a productive start up in comparison:

Here's a product that resulted from $120M in funding, context:

The Juicero situation points to something horribly wrong with the venture capital industry. I suspect there are big implications to this story that relate to how Blockstream got so much funding.

https://www.reddit.com/r/OutOfTheLoop/comments/66mo57/what_is_the_deal_with_juicero_controversy/

The more I read about Juicero the more Segwit makes total sense as part of Blockstream's overengineered method of ensuring Bitcoin users get funneled into using their products. Segwit's heavy discount for witness data is like the Juicero DRM that prevents third-party juice packs. "In case there's a spinach recall..." sounds as flimsy as Greg's justifications.

And the topper is that you can squeeze the juice packs by hand (or with a simple press), but the overpriced, overengineered, company-favoring solution is preferred. Remind you of anything?

https://www.bloomberg.com/news/features/2017-04-19/silicon-valley-s-400-juicer-may-be-feeling-the-squeeze

If there is any promise here, competitors will offer cheap standard-size packs of minced fruits and vegetables and a $50 pressing machine without the DRM.

Juicero - Instead of buying juice directly, buy a more expensive bag of pulp to make juice in a complex multi-stage process

Segwit/LN - Instead of transacting in Bitcoin directly, set up a Lightning Network channel to transact in Bitcoins in a complex multi-step process

Juicero - Requires that consumers purchase artificially expensive pulp bags and pressing machine to make business model work.

Segwit/LN - Requires consumers pay artificially expensive on-chain transaction fees, created through on-chain capacity limits, for business model to work.

Juicero - Must be connected to internet to work.

Segwit/LN - Must be connected to network to make sure funds aren't stolen from the Lightning channel

Juicero - Over-engineered, needlessly complex, more expensive and less useful than pre-existing methods.

Segwit/LN - Over-engineered, needlessly complex, more expensive and less useful than pre-existing methods.

Rest In Peace, Juicero

 

[satoshis_sockpuppet]

Hell yeah: https://bitco.in/forum/threads/buip-065-gigablock-testnet-initiative.2610/

If these are the plans of nChain+BU I'll change my stance, it's a good idea to "collaborate"(*)!

(* I hope this word isn't already a Blockstream trademark)

 

[Cryptonoy]

Great to see

 

[Zarathustra]

(...)
Extending this analogy to the physical world, at a certain level of complexity, there is no faster way to predict the manner in which a physical system will evolve than by watching it do so. You could model the system given its initial conditions and the physical laws it obeys, but your simulation will necessarily be slower than the "computations" performed by the universe itself on the actual system.

An example of this is "what will your day be like tomorrow?" Even if the universe were completely deterministic and we knew its laws, and even if we could describe its present state perfectly, there would still be no way to predict precisely what's going to happen tomorrow other than by waiting for tomorrow to come.

The reality may be faster than the computer, but that doesn't negate the claim that the future is predictable as soon as the computer has all data.

For example the computer could take all the data of the 30th of September 1888 and then simulate the 30th of September 2017. On that day the computed results can be compared with the reality. If the simulated result will be the same as the reality, there will be proof that the future has been 100 percent predictable in all details.

 

[awemany]

For example the computer could take all the data of the 30th of September 1888 and then simulate the 30th of September 2017. On that day the computed results can be compared with the reality. If the simulated result will be the same as the reality, there will be proof that the future has been 100 percent predictable in all details.

But it is impossible to construct such a computer.

 

[Norway]

Tone Vays is coming to Norway. I challenge him:

https://www.reddit.com/r/btc/comments/6y4fmt/tone_vays_is_comming_to_oslo_next_saturday_i/

 

[rocks]

Just saw this, ETH passed BTC in on chain transactions a few months ago, but really started to pull away the past month.

https://bitinfocharts.com/comparison/transactions-btc-eth.html#3m

The part of me that got into bitcoin because I wanted to see the concept of permissionless money take hold is rooting for ETH and very excited to see their ecosystem take off. However the part of me that did not follow my own advice two years ago to sell BTC for ETH is very worried to see this.

Ethereum is probably a bigger long term threat to Bitcoin Cash (or segwit2x) than the legacy chain at this point.

If Bitcoin Cash decides (collectively) to take the opposite route that core followed and focus on augmenting new functionality onto its chain that has been proven in the alt coin space it should be able to make up this gap. But it is likely going to require taking this approach.

 

[Zarathustra]

But it is impossible to construct such a computer.

Yes, no problem, but the better the computers got constructed, the better the prediction of the weather and everything else. We cannot argue against Laplace by claiming that the future isn't determined in every detail because we are not (yet) able to construct perfect computers.

 

[awemany]

@Zarathustra: Aside from questions regarding nature itself (deterministic or not), the best weather forecasts end up being inaccurate if you go a week or two out or so.

And due to the nature of this process, it is also not going to be pushed much further with better computers.

Lyapunov exponents are exactly that - exponents. For each increase in processing power, you get at most a logarithmicaly better forecasting ability.

And then, with the weather, I am pretty sure that the current models already operate close to the noise floor: That is, influences external to the model, such as our own behavior, will likely further limit your forecasting ability and make the increase in complexity and thus processing requirements of your then 'weather' model be much steeper than what you'd just expect from the weather physics.
[doublepost=1504595906][/doublepost]@rocks: The drop in transactions below the 1MB limit is the worst thing that happened to Bitcoin. This is a serious problem. This makes me very nervous. I am afraid a "told you so" will soon be very applicable to Bitcoin's fate as a whole.

Did Bitcoin get destroyed by a couple assholes that haven't been stopped in time by ignorant and foolish miners? Despite us loudly warning for years about this?

 

[Zarathustra]

While the videos of Tone Vays are trash, the Roger Waters videos of Tony Yay are brilliant:

and when they found our shadows
grouped round the tv sets
they ran down every lead
they repeated every test
they checked out all the data on their list
and then the alien anthropologist
admitted they were still perplexed
but on eliminating every other reason
for our sad demise
they logged the only explanation left
this species has amused itself to death

no tears to cry, no feelings left
the species has amused itself to death
amused itself to death


By the grace of God Almighty
And pressures of the marketplace
The human race has civilized itself
It's a miracle


Perhaps @sickpig heard of him?