Gold collapsing. Bitcoin UP.

[Peter R]

@Zarathustra: I've heard rumours that he's on the unofficial payroll of Blockstream.

But I think another explanation is that he is (and Adam Back and the "cypherpunk" gang are) simply jealous that Satoshi solved the "holy grail" problem of P2P e-cash. People like Szabo and Back now want to take Bitcoin over and transform it back into their broken vision.

 

[Christoph Bergmann]

I think he is an old friend of adam back + he invented BitGold, not Bitcoin, so it must be charming for his ego to see Bitcoin transforming into BitGold + he seems to be a fan of technocratism and dislike that users, business and normal people have an opinion about technology

 

[awemany]

@Peter R.: That seems indeed likely. I remember the pre-Bitcoin times and the idea of 'a state-independent cryptographic currency' was definitely in the in air just before the paper was published.

Tying proof of work into the incentive system and validating global state is the brilliant insight of Satoshi that got the ball rolling. And interestingly, the Bitcoin incentive concept is still unsurpassed, as far as I can see.

Which brings me to a related issue: Folks around me talk about "RaiBlocks is the next big thing" lately, but after skimming their WP, it looks like they have relabeled the problem of double-spending to be 'eventual consistency due to incentives' - without really solving it at all and doing another pump and hype of the "currency as a git repo" concept. Am I missing anything?

 

[79b79aa8]

happy ninth birthday, bitcoin.

 

[Justus Ranvier]

But I think another explanation is that he is (and Adam Back and the "cypherpunk" gang are) simply jealous that Satoshi solved the "holy grail" problem of P2P e-cash. People like Szabo and Back now want to take Bitcoin over and transform it back into their broken vision.

They were also wrong about monetary theory, and they need Bitcoin's original design to fail in order avoid proving this.

Prior to Bitcoin everybody was trying to solve the problem of how to produce a fixed purchasing power currency rather than a fixed supply currency.

 

[Dusty]

@Peter R.:
Which brings me to a related issue: Folks around me talk about "RaiBlocks is the next big thing" lately, but after skimming their WP, it looks like they have relabeled the problem of double-spending to be 'eventual consistency due to incentives' - without really solving it at all and doing another pump and hype of the "currency as a git repo" concept. Am I missing anything?

RaiBlocks uses a simple but interesting idea. The "eventual consistency" is due to PoS, and a new peer has to accept the blockchain (that keeps only balances, no tx data) from trusted peers, so it has absolutely nothing to with the trustlessness of Bitcoin.

 

[hodl]

anyone else get their Twitter account disrupted/locked?: "You are not allowed to perform this action."

time to move to another account.

 

[Dusty]

On twitter I've been blocked by a whole set of smallblockers, even people I didn't follow or know, that's crazy.

 

[albin]

@Dusty

This might be a hint of who is actually in Dragonsden, it was very curious for me to look at the order and timing of clusterings of blocks. For example, my earliest blocks that I noticed were Beautyon, Samson Mow, and Vortex. Back, Rudolfo Novak, Francis Pouliot and some others were like a second wave.

One of my best blocks is Peter Todd, who blocked me in a gesture to white knight on Adam Back's behalf.

Another is MrHodl, who threatened to block me unless I got on Mumble with him to prove I wasn't some sock (prove to some fuckhole named "MrHodl"??), and then followed through with it when I mocked him in response.

 

[solex]

Bitcoin Cash is having its first meet-up in London
6-10pm, Friday, January 12

I will be giving a brief talk on Bitcoin Unlimited. Great if any BU members can make it.
Kudos to @singularity for setting up the group. It has ballooned to 200 members in two weeks

Location:
Alwyne Castle
83 St Paul's Rd, London N1 2LY
https://www.meetup.com/Bitcoin-Cash-London-Meetup/events/246062208/

 

[79b79aa8]

here are three pieces of information that have recently come to light as developers move to actually flesh out the LN:

1. fees on the network would not be flat but proportional to the amount transmitted. the reason is users move funds through intermediaries with limited liquidity, so if you want to use up more of a node's liquidity, you have to pay more. how fees per value transferred scale is unknown.

2. both senders and receivers need to sign transactions. thus, for security, dedicated hardware will probably need to be deployed for point of sale purchases over LN. meanwhile online stores/services need to implement secure check out software with automated access to privkeys.

3. afaict, the LN running on testnet (thanks to which issues such as those described above are beginning to surface) is a mockup with a topology that does not scale.

i sense stillbirth.

 

[solex]

From day one, Bitcoin was always going to be strongest when its investors were united against external threats. That includes physical scaling limits as much as governments, banks and 3-letter agencies.
While in Bitcoin's period of dominance, the community divided on an internal threat: the block-size limit which constrains capacity.

Today, when the "MySpace of Crytocurrency" spectre beckons it becomes clearer what the real threats are. The DCG mouthpiece Cointelegraph breaks ranks:

Despite your feeling towards Bitcoin and Bitcoin Cash, it is proof that Bitcoin, the original, was deviating from the original white paper.

https://cointelegraph.com/news/bitcoin-no-longer-top-dog-because-of-how-it-is-defined

 

[albin]

I hate to say it, but XRP is way more useful than BTC. It's a pile of dogshit design-wise, but at least you can move it.

 

[Richy_T]

While in Bitcoin's period of dominance, the community divided on an internal threat: the block-size limit which constrains capacity.

This almost seems to be a law of nature.
[doublepost=1515098288][/doublepost]

i sense stillbirth.

I suspect a phantom pregnancy. Those capable of seeing that things are intractable will move on, leaving behind the less capable who will push on blindly until eventually it just quietly drops from the spotlight. Likely has started happening already.

 

[NewLiberty]

Regarding colored coins: I must admit I didn't look too closely into all the variants that have been proposed yet.

Am looking forward to seeing Counterparty on BCH.
It will not just be the new ICO platform, but a whole lot more because BCH won't try to block it by shortening OP_Return in the interests of proprietary "Elements" projects from Blockstream, but will let it compete on its own merit.

 

[majamalu]

Why does Nick Szabo regularly retweed the bullshit of the greatest idiots of the whole cryptocurrency space? Is there a plausible explanation for his sick behavior?

Maybe he's just stupid. Stupid people are much more dangerous than dumb people, especially for others.

 

[hodl]

Am looking forward to seeing Counterparty on BCH.
It will not just be the new ICO platform, but a whole lot more because BCH won't try to block it by shortening OP_Return in the interests of proprietary "Elements" projects from Blockstream, but will let it compete on its own merit.

yes, that's all the big blockers have ever wanted; free and unLIMITed innovation both on and off chain. let all layers compete for market share. participants have infinite motivation to prevent the system from breaking while welcoming participants of all income classes round the world. that's true decentralization. thank you for seeing the light, Joseph.

 

[79b79aa8]

and welcome back, "hodl".

 

[hodl]

yeah, well my new twitter acct is @H0dl since someone appears to have been twittling with my password to where i'm now locked out.

 

[hodl]

BCH energy efficiency continues in full display: