Gold collapsing. Bitcoin UP.

[awemany]

@adamstgbit : The part about the false flag genuinely looks like the former (smoking gun) to me, and I am usually careful with this.

The part about nullc's involvement is also pretty damning, however only at the level of 'highly likely' and not a full proof with no doubt remaining. What's missing there is the number of negatives they got when testing for nullc authorship - and they didn't include that in the article. The existing coincidences are way too strong, however, to account for them solely by selection bias.

Theoretically, it could be a false - false flag, but that appears way too contrived here, especially given that people like BashCo are implicated and would then need to have worked on 'our side' as some kind of weird, bought-out black hats and someone would have had to reproduce nullc's writing to a large extend while also keeping 4n4n4's writing believable and meaningful. Nope

 

[AdrianX]

https://www.reddit.com/r/btc/comments/7eil12/evidence_that_the_mods_of_rbitcoin_may_have_been/

Did you guys see this shit!? HAHA

Wait--I meant to say--LOL

Holy cow, that post has been gilded 20 x

 

[solex]

Open question to do with the Bitcoin market's sysphean task of squaring the circle.
Generally, the relative difficulty between BTC and BCH translates into price. The last week has seen a balance achieved in profitability:

fork.lol
current* 6havg 1davg 7davg
BTC 1.01x 1.00x 1.00x 1.00x
BCH 1.00x 1.01x 1.05x 1.09x

Bitcoin BTC is predicted to have a major diff drop in 2.5 days (from the time of this post)
bitcoinwisdom
Difficulty: 1,364,422,081,125
Next: 1,020,440,464,389

Any predictions on the Bitcoin Cash price as a result?

EDIT: @Zarathustra is right. Bitcoinwisdom's diff predictions are a joke. Only a 1% drop is expected.

 

[adamstgbit]

I predict no change to price.

BTC dif will go down, BCH miners will go mine BTC because its more profitable, a few hours later the BCH dif will go down too, and the relative difficulty between BTC and BCH will be the same as it is now.

 

[AdrianX]

If the BTC difficulty goes up there will be an opportunity for a shift.

How I see the strings working If BTC price goes up, BTC to BCH conversions create market pressure that will pull the BCH price up. if BTC price goes down Fiat supports the BCH price, if BTC difficulty adjusts up miners are incentivized to mine BCH, if BCH price goes up miners stay and the cycle feeds into itself as BTC depreciates.

Intervention required to break the cycle is to bid BTC price up. the war that results is a bidding war for hash rate, the advantage lies with BCH as it takes less economic energy to attract miners and grows its user base at a lower threshold.

 

[jbreher]

It makes sense that most the hash power would be connected to most the other hash power with a single hop, which gives the "nearly-complete graph" you've mentioned earlier. But I think small-blocker and large-blocker alike would agree with this.

I think a central tenet of the small blocker canon -- at least amongst the great unwashed thereof -- is that somehow non-mining fully-validating clients somehow inhibit propagation of blocks they don't like.

 

[jbreher]

I have a handful of questions regarding the usage of Electron Cash. Is there a venue where such questions are routinely fielded?

 

[Zangelbert Bingledack]

This Prezi is a very early work-in-progress, an attempt to organize the arguments for SPV scaling visually, using Section 8 of the whitepaper as a jumping-off point:

https://prezi.com/dz5sguhiyovu/spv-scaling-the-secure-and-decentralized-path-to-massive-transaction-volume/?webgl=0

Having this as the background for a series of narrated debate videos (not necessarily by me) is the ultimate goal. Feel free to click "Save a copy" and add to or modify it for your own purposes.

 

[Peter R]

@Zangelbert Bingledack

These are the slides for a talk I gave in Amsterdam + Vancouver on "Scaling Bitcoin to a Billion Users" where I covered SPV in detail (starting on slide 11):

https://www.slideshare.net/peter_r/scaling-bitcoin-to-a-billion-users?qid=0d0404ef-7690-4b70-8713-fe7870465b69&v=&b=&from_search=4

Feel free to use them if helpful.

 

[Zangelbert Bingledack]

This one is amazing! @Peter R

This puts @Tomas van der Wansem's closing comment on his fraud proof proposal in very compact form. I keep coming back to his original comment here (bold mine):

Contrary to popular believe, Fraud Proof SPV and Full Nodes are not significantly more secure then SPV nodes.

Full Node Security and Fraud Proofs protect against the mining majority including and accepting blocks with invalid transactions as they reject them and happily follow the valid minority chain.

Unfortunately, this is a rather false sense of security as the minority chain is not secure. The attacking majority can trivially attack the chain by withholding/releasing blocks, making every transaction a gamble regardless of confirmations, and making everything for sale for Bitcointrivially up for grabs. In the scenario where the most-worked chain is invalid, securely transacting is no longer possible, and Bitcoin will be worthless.

The minority chain ever being more valuable is almost impossible as a withholding/releasing attack does not reduce a miner's bitcoin income, so in that scenario, attacking the minority chain would actually increase their income.

Even a change of PoW function would provide little help, for if we cannot rely on the multi-million dollar incentives of the miners of this PoW, why would anybody give a dime for a Bitcoin with another PoW, which would be much cheaper to compromise?

Bitcoin cannot function with the mining majority acting against it; there is no PoW security without reliance on the financial incentives of the mining majority no matter how centralized it may be.

Once we understand and embrace Bitcoin's powerful security model, we can also see the strength of ordinary SPV: The only thing that matters for a user is whether his transaction is stored in a block (verified by the merkle branch), and whether it is buried under enough PoW (verified using the headers). Any other verification, is mostly redundant with Bitcoin having value in the first place!

I am afraid that the current stagnation and abandonment of Bitcoin's original scaling model (well explained in Satoshi's first answer), is not induced by the absence of Fraud Proofs, but instead by a misunderstanding of Bitcoin's security and scaling model.

 

[Christoph Bergmann]

@adamstgbit : The part about the false flag genuinely looks like the former (smoking gun) to me, and I am usually careful with this.

The part about nullc's involvement is also pretty damning, however only at the level of 'highly likely' and not a full proof with no doubt remaining. What's missing there is the number of negatives they got when testing for nullc authorship - and they didn't include that in the article. The existing coincidences are way too strong, however, to account for them solely by selection bias.

Theoretically, it could be a false - false flag, but that appears way too contrived here, especially given that people like BashCo are implicated and would then need to have worked on 'our side' as some kind of weird, bought-out black hats and someone would have had to reproduce nullc's writing to a large extend while also keeping 4n4n4's writing believable and meaningful. Nope

I must say, I found the proofs for Greg's sockpuppeting rather weak. Many people use "--", including me from time to time, because in some text editors this is how you make the long "-" instead of the "short" ("Gedankenstrich" instead of "Bindestrich"). Also Greg is very active and visible on reddit, so it is possible that he has his fans who follow him. And that his choice of words is copied, is not a mystery, but something we complain for some time - his influence on social media.

But still, some of the found posts are an indicator that it is a sockpuppet or at least a companion in trolling campaigns ...

 

[Peter R]

@Christoph Bergmann it wasn't just using "--", it was also the spacing around them. It is most common to do something -- like this -- but something-- like this with uneven spacing is less common. But yeah, I think that evidence supporting the claim that 4n4n4n4 = nullc was the weakest.

 

[Zarathustra]

Open question to do with the Bitcoin market's sysphean task of squaring the circle.
Generally, the relative difficulty between BTC and BCH translates into price. The last week has seen a balance achieved in profitability:

fork.lol
current* 6havg 1davg 7davg
BTC 1.01x 1.00x 1.00x 1.00x
BCH 1.00x 1.01x 1.05x 1.09x

Bitcoin BTC is predicted to have a major diff drop in 2.5 days (from the time of this post)
bitcoinwisdom
Difficulty: 1,364,422,081,125
Next: 1,020,440,464,389

Any predictions on the Bitcoin Cash price as a result?

Bitcoinwisdom's calculations are not accurate. There won't be a difficulty drop. Or just a small one.

 

[sickpig]

I have a handful of questions regarding the usage of Electron Cash. Is there a venue where such questions are routinely fielded?

if you are on BU or ABC slacks ping @kyuupichan

 

[adamstgbit]

https://www.reddit.com/r/btc/comments/7eqczb/warning_bitcoin_golds_official_website_linked_to/

i knew it!

 

[adamstgbit]

holye shit BCH is on fire right now

 

[Norway]

@adamstgbit My BCH beer fund for the first "Oslo Bitcoin Cash Meetup" on friday is growing in value. Nice!

Track the beer fund here:
https://blockdozer.com/insight/address/1BCd1mgMCJwnvaE97rbXfqxtT4eMLeyDXC

 

[Mengerian]

@solex, this is kind of random, but I thought you might appreciate this Tweet:

 

[Justus Ranvier]

@Mengerian <blink> tags, "Under Construction" animated gifs...

 

[Norway]

@Mengerian I created a visual 3D world in WAP. Not kidding.

EDIT: Tiny, monochrome pics. 90 degrees movement left/right + forward/backwards. You could walk into a logo on a wall on a building, and enter their WAP site. The plan was to sell advertising space on these walls. Never got any money from it, lol!