Gold collapsing. Bitcoin UP.

[VeritasSapere]

It is such a beautiful thing to see the real Bitcoin rise, in many ways this is the success of the governance of Bitcoin. I still question whether this form of governance is able to adapt quickly enough since it took so long for Bitcoin Cash to come into existence. It might still not take that crown; however, I am confident that the crown does not belong to what we now refer to as BTC.

We are going to have to work to achieve dominance, it will be up to this new community to propel Bitcoin Cash into the world as was intended for BTC. We will have to compete with the alternative cryptocurrencies, this is good. Cryptocurrency as a whole has become an unstoppable force.

Bitcoin Cash does need development and leadership, I think Bitcoin Unlimited is now best positioned to provide this support for Bitcoin Cash to help achieve the vision of Satoshi and ultimately make the world a better place.

 

[AdrianX]

Thank you for your analysis, foresight, and willingness to educate the rest of us.

You are welcome but it's me who has received the education, all I've done is ask for a deeper understanding. Some time the lack of answers speak for themselves.
[doublepost=1510977175][/doublepost]

BTG market is being well supported by core shills. Not complaining, BCH is amazing to trade and I could use all the capital I can get.

BTG for me is a Core Cult insurance contracts, after the flip, I think I'll be selling mine to pump BCH.​

 

[molecular]

Then sweep your private key into Coinomi to claim your BTG. Use either Changelly

Have they removed BTG support? I can't seem to find BTG as an option on https://chagelly.com.

 

[molecular]

Hey dude (high five).

It is such a beautiful thing to see the real Bitcoin rise, in many ways this is the success of the governance of Bitcoin. I still question whether this form of governance is able to adapt quickly enough since it took so long for Bitcoin Cash to come into existence. It might still not take that crown; however, I am confident that the crown does not belong to what we now refer to as BTC.

It *is* beautiful, isn't it? And yes: BTC in it's current form might still hold on to the crown ("they" have unlimited money to make it so? Even just propping price up indefinitely will probably do it). In that case I think we (as the Bitcoin community) will have made a grave mistake (it was a *trap*, yes, but *we* stepped into it) and our grandchildren might ask us: "*Why* did you let that happen, grandpa?"

Beauty aside, here's some thoughts on how to most efficiently act out our voting rights as market participants: I think the "rise of the phoenix" might take longer than we like (it will take the migration of merchants and other players, also that of users, which is a slow process for psychological (in the latter) and technical reasons (in the former case)). So I suggest: don't waste all your powder this year. Maybe even sell some BCH on upswings. Why? For absorbing the potential flood of more liquidations of large holdings. *If* that happens: acting so is good for BCH price (stabilized, reduces volatility and panic) and also good for our own BCH wallet balances). I like safety, this is why I tend to act this way: it reduces that "holdings liquidation" risk. In other words: I think we have more than one shot at this, let's not waste all the bullets yet.

We are going to have to work to achieve dominance, it will be up to this new community to propel Bitcoin Cash into the world as was intended for BTC. We will have to compete with the alternative cryptocurrencies, this is good. Cryptocurrency as a whole has become an unstoppable force.

Correct. Competition it is! (Ron Paul ftw regarding this). It's starting to sink in, too. At the conference when we spoke it seemed the both of us were in the minority in suggesting that altcoins were a good thing in general (for multiple reasons which I won't iterate now, and for all participants no less). It seemed most bigblockers were Bitcoin maximalists who wanted bigger blocks. Now, after how the Cash split went ("bcash altcoin" propaganda, flippening not happening at once), I think some may have moved over a bit and are now more open to the altcoin world because they've seen that being an altcoin (for a while) doesn't kill you instantly and also doesn't kill the "mothercoin" ;-)

Bitcoin Cash does need development and leadership, I think Bitcoin Unlimited is now best positioned to provide this support for Bitcoin Cash to help achieve the vision of Satoshi and ultimately make the world a better place.

Yes, much work ahead of us. Development and governance being utterly important. I'm very happy Falkvinge slided in there with his "letter from the ceo". That gave a good impulse and these issues need discussion (the form of the "DAA decision" wasn't received well by many, for example). We need good community spirit and we need to be inclusive and open. And last but not least: we need to scale well (I mean the "organizational structure" here). I also like Ricks prime directive to "create liberty through profit motive".

 

[Zarathustra]

Fibo at work. Up we go:

https://www.tradingview.com/chart/BCHUSD/jsAtfLQM-Fibonacci-rose-from-the-dead-and-is-painting-the-BCH-chart/


All charts say 'long':

https://www.tradingview.com/chart/BCHUSD/mR44vHjR-BCH-bouncing-to-1500-and-then-onwards/

https://www.tradingview.com/symbols/BCHUSD/

 

[adamstgbit]

Core supporters used BTG as a pawn in their attacks against BCH. They actively hyped up BTG to try to send a message of "Look at all these crazy forks! First BCH, now BTG!" They were trying to cause "fork fatigue" so that BCH and S2X were more likely to fail.

there is no doubt this is the case.

core supports were very quick to say that BCH was crap total crap just dump it.

and now when asked about BTG or Seg2x-zombie-fork they are saying things like " IDK we'll have to wait and see, let the market decide "

making these forks seem legit gives them 2 advantages, #1 like you say it sorta weakens BCH's creditably, and #2 an upcoming fork of bitcoin makes BTC itself more valuable ( buy BTC before the fork ).

 

[torusJKL]

They also like the Bitcoin Clashic fork.

And even applaud the fact that the Trezor is compatible out of the box because there is no replay protection.

 

[adamstgbit]

Bitcoin Cash MUST revers course on its " effectively limitless blocksize " policy
​

the more time goes on the more i like bitcoin cash. and i'm with @molecular, saving ammo, ready and waiting for further dumps, but that besides the point. point is, i would like BCH even more, if Bitcoin Unlimited becomes the most popular implementation of BCH. I think EC is absolutely brilliant and we are going to NEED to leverage its power to push BCH to the #1 spot.

I think simply increasing the blocksize limit higher and higher as needed, is a bad idea. the first clue that it is a bad idea, is the fact that it relies on central planing, planing to limit it to 1MB forever or planing to keep blocksize as an effectively infinite resource, same bullshit, same type of "central planning", which has nothing to do with a free market.

last year i wrote how BU would bring stability to the fee market.
https://medium.com/@adamstgbit_25789/bitcoin-unlimited-to-bring-stability-to-bitcoins-fee-market-6b5a4f882fc0
I still think its absolutely vital that a FREE MARKET is use to create a balanced blocksize / fee market.

if you disagree, and believe that blocksize should be simply set to always increase such that their is plenty of space in a block "because we can". then my question to you is, do you honestly expect that mining will be a billion dollar industry when the block rewards run dry?

 

[Jonathan Vaage]

The other day I wrapped up a collaborative effort with an animation studio that helped us produce a short introduction to Stash Wallet. I also wrote up a blog post with a little background and some technical details if you're interested. Let me know what you guys think!


r/btc post: https://v.redd.it/jgrvaadc3syz

 

[79b79aa8]

Stash team: this is awesome.

I would say, it is not completely clear from the blog post or the video how the wallet works from the non-tech user's perspective, beyond the description "like an email address for money".

Is it:
1. Alice publishes her Stash address to the world
2. People send payments to her (from any wallet? from a Stash wallet?)
3. Alice receives funds (which can only be spent from a Stash wallet?)

 

[Zangelbert Bingledack]

​

I wasn't sure whether go Full Norway, but after watching that video I'm starting to consider it. I know there are very mixed feelings on CSW here to say the least, but try to watch this whole thing and not become a fan, I dare you

Meat starts at 23:15.

 

[Jonathan Vaage]

Stash Wallet works like everything else out there when interacting with other wallets and services and users retain exclusive control of their own keys.

The private, on-chain payment channels require both the sender and recipient are using a wallet with BIP47 support (invented by @Justus Ranvier). Right now, Samourai Wallet uses this protocol for BTC. We also built an open identity credential and messaging system on top of this, but so far, only Stash Wallet users can benefit from this functionality. Our expectation is that these standards will proliferate across the industry because it just makes transacting easy and intuitive for new users, without the need to sacrifice privacy or security.

 

[Zangelbert Bingledack]

Boy, if I was wrong: I had everybody against me apart from a few of the very first bitcoiners like Peter Surda (great economist!).

Wait, you were on the mises.org forums? I was posting there as AJ from 2009 until the end, and it was Peter Surda and MoonShadow who got me thinking about Bitcoin first.
[doublepost=1511037331][/doublepost]@cypherdoc Looks like "Gold: I smell a trap..." is finally coming to pass.

This trader has been posting precious metals analyses for at least 10 years on goldseek.com, so not a crypto guy by any means:

http://news.goldseek.com/InsigniaConsultants/1510902060.php

Resurgence in bitcoins and other crypto currencies is preventing investment interest in bullion. Short term hot money has moved to cryptos from bullion.

 

[Dusty]

When the Tether scam finally explodes it takes 50%-90% off the Bitcoin and crypto market cap

I think exactly the opposite: when the theter scam explodes people will realize they can't change it for dollars and will flock to bitcoin and other coins, skyrocketing their value.

 

[adamstgbit]

The other day I wrapped up a collaborative effort with an animation studio that helped us produce a short introduction to Stash Wallet. I also wrote up a blog post with a little background and some technical details if you're interested. Let me know what you guys think!


r/btc post: https://v.redd.it/jgrvaadc3syz

the video is awesome.

on-chain payment channels

so every TX in that payment channel gets recorded on the blockchain? whats the point?
The words "payment channel" make it sound like more then simple on chain TX, if so, how so?

I'll answer my own dumb-question, from the blog post :

This process allows both parties to see the full transaction history between one another, but payments are completely opaque to third party blockchain observers.

very cool.

 

[Richy_T]

Theory. The 1MB is untenable. Core engages in Brinkmanship until BTC is literally teetering on the brink of collapse then give in to the inevitable and pivot, raising the block size in a relatively uncontested fork. Bitcoin then begins its slow recovery but crypto has been set back 5-10 years and the culprits are never brought to justice.

Pessimistic but this is how it appeared to work out for Microsoft.

 

[Peter R]

it was Peter Surda and MoonShadow who got me thinking about Bitcoin first.

MoonShadow recently joined BU Slack, BTW.

 

[Richy_T]

Imagine the Tether scam comes to light, either through a bank run, government intervention of some sort, or some other catalyst.

Like common sense?

 

[79b79aa8]

The private, on-chain payment channels require both the sender and recipient are using a wallet with BIP47 support.

can you explain the basic use case for this? let's assume we're both using Stash.
[doublepost=1511039447][/doublepost]

Pessimistic but this is how it appeared to work out for Microsoft.

. . . who now bite Apple's dust.

 

[adamstgbit]

Theory. The 1MB is untenable. Core engages in Brinkmanship until BTC is literally teetering on the brink of collapse then give in to the inevitable and pivot, raising the block size in a relatively uncontested fork. Bitcoin then begins its slow recovery but crypto has been set back 5-10 years and the culprits are never brought to justice.

Pessimistic but this is how it appeared to work out for Microsoft.

even if core gave in and increase blocksize because "on the brink of collapse" it'll never be enough.
2MB might make it so bitcoin fees are back at 10-20cents, and then core would defend the new limit to the very end, just like they did with the 1MB limit
so,

Bitcoin then begins its slow recovery

is a pipe dream

bitcoin as we know it is dead, long live bitcoin (cash)