Gold collapsing. Bitcoin UP.

[torusJKL]

I think the writing was on the wall that BitPay will have to switch at some point.

But still an official announcement should have had a bigger impact.
Maybe people don't realize what this means.

Does anyone know how many transactions BitPay processes?

 

[molecular]

@molecular
well, what are you doing (or what would you do): realizing profit at $19K or flipping at 0.10? it is hard to decide.

both

 

[79b79aa8]

ich auch

 

[molecular]

sehr gut!
[doublepost=1513454344][/doublepost]

Does anyone know how many transactions BitPay processes?

(from https://www.cryptocoinsnews.com/bitpays-bitcoin-transactions-reach-time-high/)

I'm assuming it hit a wall, though.

 

[Norway]

I think the writing was on the wall that BitPay will have to switch at some point.

But still an official announcement should have had a bigger impact.
Maybe people don't realize what this means.

Does anyone know how many transactions BitPay processes?

Not sure how important BitPay's announcement is for short term price. If the investors were sane, Bitcoin Cash would have a lot more value than Choke-coin today.

The last two years have been very exhausting because of the blocksize debate.

But now, we get to 10X our bitcoin hodlings. Maybe it was worth it?

Anyway, this is my opinion on what BitPay and Coinbase should do, and why:

https://www.reddit.com/r/btc/comments/7k8oz8/coinbase_and_bitpay_should_remove_btc_from_their/

 

[Peter R]

According to Wikipedia, annual natural gas consumption is 3400 km^3.

The total amount of natural gas required to last 1 trillion years is thus

V_gas = (1 x 10^12) x (3400 km^3) = 3.4 x 10^15 km^3​

If the Earth were a hollow spherical shell full of natural gas, its volume would be:

V_earth = 4 / 3 Pi (6400 km)^3 = 1.1 x 10^12 km^3
​

So we'd need a volume of natural gas over three thousand times the volume of the Earth itself for CSW's claim to be true.

Natural gas can be compressed into liquified natural gas and stored at 1 / 600th the volume, but we'd still need to fill 5 Earth's full of liquified natural gas for his claim to be true.

My hunch is that Dr. Wright is wrong by a factor of a billion or so, here.

(If the argument is that natural gas can be thought of as a renewable resource, then one could argue that it could last indefinitely.)

 

[79b79aa8]

the good news is there is enough uranium on earth to supply us electricity for 5 billion years, which is how long "the current relationship between the sun and Earth is estimated to persist". (B.L. Cohen, 'Breeder reactors: A renewable energy source'. Am. J. Phys. 51(1), Jan. 1983.*)

* PM me for source, if interested and can't get behind the disgraceful Great Paywall.

 

[albin]

I kind of lean toward the assumption that over long-ass timescales, the probability that anything about the current human experience will still be there tends toward zero. Like even a few hundred years into the future, I find it plausible that people could live under some kind of paradigm where the idea of even using electricity doesn't make sense. Hell, we don't even really know if literally "existing in physical reality" is something that will make any sense to humans of the future, exposed to what we would perceive as completely alien insights into physics and technology.

 

[awemany]

@79b79aa8 : I think 5e9 years is optimistic, but it is at least 5 digit years that actinides can fulfill our energy needs. Interesting that the general opinion is one of "we don't have enough energy", isn't it?

(I suspect people rather talk about energy to internally deflect from the overpopulation issue, because that makes too many feel uneasy. The biological undercurrent, the urge to reproduce, might be just too strong for many to synthesize a coherent world view in light of that.)

Now, exponential rising consumption, exponential anything cannot last forever, fair enough. But if you look around, there's also clearly saturation effects.

@Peter R.: And these kinds of phantasms only add to the picture of why I am wary of CSW.

 

[lunar]

Interactive version from https://elementus.io/token-sales-history

.....................​

Great thread. Forkius is on the money, as usual.

https://www.reddit.com/r/btc/comments/7k830p/is_anyone_else_noticing_that_bitcoin_core_is/

 

[solex]

BU Membership Announcement:
The current BU President term expires on 21 January 2018.
Those wishing to hold this position are invited to submit a BUIP putting forward their candidacy. The election will commence at the next vote date 15 January 2018.

 

[solex]

I think the writing was on the wall that BitPay will have to switch at some point.
But still an official announcement should have had a bigger impact.
Maybe people don't realize what this means.

Yet more evidence of the tentacles of BlockCoreDCGstream, seeing how the crypto-news has been so obviously captured. https://www.reddit.com/r/btc/comments/7kblws/it_seems_like_coindesk_is_trying_real_hard_to/

 

[79b79aa8]

jorge made a similar, related point. it makes little sense for coinbase to have taken themselves voluntarily out of the BCH game.

 

[Zangelbert Bingledack]

Joannes Vermorel's new article Terabyte Blocks for Bitcoin Cash is a must-read, both for the detailed economic analysis and several novel points made.

 

[Norway]

@Zangelbert Bingledack
That was a great read! I also laughed out loud when Vermorel used my expression "impotent miners" to describe these full nodes with zero hashpower.

 

[yrral86]

jorge made a similar, related point. it makes little sense for coinbase to have taken themselves voluntarily out of the BCH game.

The only sense I can make of it is that if the flippening happens they can say "oh, here's all your bch". If they let them out sooner and people sold them off, they would hate bitcoin and coinbase for the rest of their lives, despite it being their own dumb fault.

 

[79b79aa8]

interesting possibility, but benevolently watching out for your customers by making decisions for them could easily backfire. simpler to assume they are watching out for themselves.

 

[Peter R]

Joannes Vermorel's new article Terabyte Blocks for Bitcoin Cash is a must-read, both for the detailed economic analysis and several novel points made.

This is a well-written and comprehensive feasibility analysis. All the estimates seem reasonable to me.

While snooping around the author's website, I see he wrote another interesting piece called "Bitcoin Cash is Bitcoin," which is also worth a read.

 

[molecular]

Joannes Vermorel's new article Terabyte Blocks for Bitcoin Cash is a must-read, both for the detailed economic analysis and several novel points made.

I love building, scaling and running hardware. All my current Bitcoin nodes still run on sucky vms or hardware I "had anyway" and that didn't have to be designed for the purpose at all.

After reading this article I can't wait for Bitcoin Cash Users to start scaling up their tx demand (preferrably by growing the userbase, of course, but really I don't care. Dump your porn onto the chain or whatever if you like), so we can finally start scaling the blocks beyond those measly 8 MB. I love a challenge and it seems the Bitcoin Cash Developer community also enjoys challenges.

EDIT: too bad I will probably always have only impotent nodes ;-(

 

[awemany]

And so it begins:

The banksters start to mount their "see it can just fork, see the 21mio limit is shaky, ..." attack, exactly as I and others have predicted:

https://www.reddit.com/r/btc/comments/7kkl20/a_devastating_ing_report_about_bitcoin_core/

This is also what I feared would be the answer by the banksters to the BCH:BTC split reaction by the miners (@Zarathustra).

I remain hopeful that Bitcoin (as BCH) survives this, but this is going to be quite effective. Maybe they'll pump BCH now just to let it overtake BTC (and then pull it back again), to further drive the point home.