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Gold collapsing. Bitcoin UP.

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satoshis_sockpuppet

Active Member
Feb 22, 2016
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@Christoph Bergmann
Imho that topic is worth it's own thread. I'd guess a lot of people that liked Bitcoin already had a libertarian or ancap standpoint, so you could find the reasoning why Bitcoin will make the world better in these ideologies.
To be honest, the first reason why I liked Bitcoin at first was just the removal of borders and the easy way of value transfer which looked promising to me (sadly the one feature Bitcoin lost).
And I believe, that free trade has always been a) a way to peaceful relations and b) to grow of wealth. Bitcoin makes it easier and helps with both. Also I'm pretty sure, that free markets find better solutions for most problems than governments and that includes money. After I've read "The Denationalization of Money" it is uncanny to see how many (potential) problems of private money Bitcoin elegantly avoids and what kind of "holy grail" it really is for many economists.

adamstgbit said:
but thats a moo-point, because they wonudn't have needed a PoW-fork. they had more hash rate then you think. you think that the hash rate was 90% in favor of 2x, but that was bullshit, the reality is 80% of the hashrate was going to fallow the money, and the money was going to flow to 1x, and thats why the miners didn't have a choice but to call off the HF.
Click to expand...
Imho that's not really an argument. Any chain with <50% of global hashrate is potentially doomed.


Anyway, apparently I went full norway at the right time lol.
Hope the optimists here are right..
 
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NewLiberty

NewLiberty

Member
Aug 28, 2015
70
442
sickpig said:
SegWit2X is no more
https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x/2017-November/000685.html
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I'm disappointed.
Was looking forward to decent competition from the legacy chain. They are closing off their opportunities. Bitcoin Cash will succeed, but Core won't offer as strong an opposition with this ossification.

The most ready method for them to overcome this ossification if it is deemed needed, would be increased villainization of Bitcoin Cash and some "ends justifies means" fork when necessary, (like the PoW changes suggested).
 
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NewLiberty

NewLiberty

Member
Aug 28, 2015
70
442
satoshis_sockpuppet said:
lol and the price for most retarded statement goes to viabtc for writing "bitcoin cash" into the coinbase message on the SW chain..

Fuck you.
[doublepost=1510171661][/doublepost]Let's see how well this tweet ages:
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When announcing news in an unregulated trading market which will influence price. (like 2x cancel) the folks releasing the news can profit on trading it.

The couunter move might be for someone to crash the price up and down in order to wipe all margin traders off the board on both sides. The side releacing the news will be heavier margin.

From the few minutes after the news release, it looks like the Bitcoin Cash traders effectively wiped the margin traders. It gave me confidance. Also about 100K BCH was dumped into that. It was gobbled up.

End result is Bitcoin price is a little lower, BCH absorbed all the dump and moved up.

The market has spoken indeed, Lopp just can't understand the language of what happened.
 
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Zarathustra

Zarathustra

Well-Known Member
Aug 28, 2015
1,439
3,797
satoshis_sockpuppet said:
Miner should have forked to 2 MB's and choked the 1 MB chain. There wouldn't be any confusion what Bitcoin is and who defines it. We would have one chain, everybody on board and life would continue with a growing Bitcoin.
Click to expand...
No no, dear @satoshi's_sockpuppet! Miners should have forked with Bitcoin Unlimited. They shoulnd't even think of implementing such a ridiculous 2MB Rube Goldberg bullshit. With the Cash fork, the most potent miners (Jihan Wu, Jiang Zhuo'er, Haipo Yang) began to mine that Bitcoin Unlimited coin, which is Bitcoin Cash. They never showed any enthusiasm about the 2MB appeasement bullshit after Bitcoin Cash had been launched. No wonder!
[doublepost=1510289024,1510288390][/doublepost]
Norway said:
1 Bitcoin Cash is 0.09 Bitcoin Segwit now. At what number is it "safe" to dump your last Bitcoin Segwit?

0.2?
0.3?
0.4?
0.5?
0.6?
0.7?
0.8?
0.9?
1.0?
Click to expand...
If Cash wins (I think it will) it is safe at any time:

https://plato.stanford.edu/entries/fatalism/#1
 
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Zarathustra

Zarathustra

Well-Known Member
Aug 28, 2015
1,439
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adamstgbit said:
it wont matter that you can PROVE beyond a shadow of a doubt that bitcoin2x is bitcoin because of X Y and Z, if most of the market values bitcoin-core, and they call themselfs bitcoin, they are bitcoin. no metric matters, not really, all that REALLY matter is how many poeple Believe what you believe.

basically you are trying to argue that bitcoin is NOT defined by what the majority believe bitcoin to be. good luck with that.
Click to expand...
The longest valid chain is Bitcoin. A chain that eliminated the cash function isn't Bitcoin anymore, because it is not valid anymore. Bitcoin is a Peer-To-Peer Electronic Cash system.
 
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Zarathustra

Zarathustra

Well-Known Member
Aug 28, 2015
1,439
3,797
Peter R said:
@Christoph Bergmann

Personally, I see the world through an optimist's lens, and so I think as mankind gains more technology, the good outweighs the bad and we slowly shape the world into a better place. Others probably feel the opposite based on the lens through which they are looking.
Click to expand...
I think the opposite is evident. Anarchy (rain forest and tundra communities) don't destroy the planet. Patriarchy/society (the collectivist homo oeconomicus) does!

I am pro cryptography because I believe it will destroy the society. It will prevent us from 'prospering' further into collective suicide with exponentially increasing speed .
 
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satoshis_sockpuppet

Active Member
Feb 22, 2016
776
3,312
Zarathustra said:
No no, dear @satoshi's_sockpuppet! Miners should have forked with Bitcoin Unlimited. They shoulnd't even think of implementing such a ridiculous 2MB Rube Goldberg bullshit.
Click to expand...
That's right.

Looks like a lot of people actually do share the optimist sentiment in /r/btc and other places.. Maybe I overreacted, we will see.

And whilst going Bagatelli berserk apparently would have been the right choice atm I'm just happy that I went full norway in time.

Now, it's going to be interesting when Bitpay activates Bitcoin cash payments.
 
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Richy_T

Richy_T

Well-Known Member
Dec 27, 2015
1,085
2,741
Just a thought. What if certain miners knew that 2x was going to be abandoned and decided to go with BCH so got deadalnix on the phone and said "Fix that EDA issue quickly cause you're about to have some serious switch-over"?

Wild speculation but...
 
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satoshis_sockpuppet

Active Member
Feb 22, 2016
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E

Epilido

Member
Sep 2, 2015
59
185
Norway said:
Greg Maxwell is stalking me.
nullc
0 Punktevor 5 Stunden

You should question your sources. I've never said that.

I was under the impression that you were 'Norway' on the BU forum-- "No need to hedge more than a tiny fraction of my hodlings! It took me just a split second to grab my Trezor and start the process of dumping BTC to BCH through ShapeShift."

Color me disappointed.

#MeToo

Click to expand...
Did I miss read that or did nullc just say he dumped btc and bought cash?

Sry for the formatting
 
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