Gold collapsing. Bitcoin UP.

[Justus Ranvier]

https://medium.com/@BitFuryGroup/the-bitfury-group-leadership-to-present-at-clinton-global-initiative-f2d0c195f6f6

If any US law enforcement agencies remained institutionally capable of performing their alleged missions, then Bitfury would most likely be taken down in the RICO case that dismantled Clinton Foundation.

 

[79b79aa8]

amateur george, smitten once more by authority and authority figures . . .

 

[awemany]

But is he an amateur or a pro?

 

[79b79aa8]

let's see . . . he threatened to sue anyone who would fork . . . but forgot to mention in which jurisdiction.

more importantly, is dear leader maxwell an amateur or a pro?

-----

as foretold: BTC ETFs being pulled back. BTC never solved the governance and scaling issues required for market and SEC approval. BCH has.

nexts steps on that front are: 1.) BCH to be traded at Gemini. 2.) BCH futures traded at CBOE / CME. 3) BCH ETF files for approval.

it is a priority to make it easy for BTC holders to claim their BCH and start using it. this will re-enfranchise an unstoppable number of users (and is what the "bitcoin cash is just competing with all the other altcoins" noobs have not yet started to see). anything BU can do to facilitate?

 

[awemany]

All: What are your opinions and thoughts on the rumors that 'China wants to do an orderly exit from Bitcoin mining'?

 

[hodl]

Grinding higher, guys. Stick with it:

 

[79b79aa8]

@awemany
don't know anything about the rumors but why is it an issue? bitcoin mining tends towards perfect competition. because of contingent factors, chinese miners have enjoyed cheaper-than-average electricity, which has given them a competitive advantage. on the other hand, they operate subject to a tighter-than-average regulatory regime, which gives them a competitive disadvantage. this was known in advance. how big of a disadvantage, we will eventually find out.

now miners mint coins. anyone who has the power to mint quickly realizes the importance of finance. chinese miners understood that the really profitable business loop was to have both a mint and a sophisticated finance operation -- i.e., an exchange. when exchanges got regulated out of existence in china, the obvious move was to take the financial operation offshore, and keep on hitting the ore in the mainland, right next to the dams. the business model is still on. if, however, they lose their license to the mining end of the operation, they cannot take the electricity subsidy offshore.

will a player again be able to control both a significant mining stake and be a financial service provider? i doubt that it will happen to the same extent. established american and european exchanges are not about the get directly involved in mining, it's exhausting. on the other hand, starting a new exchange is a major challenge. what would make most sense is for strong partnerships between miners and exchanges to develop, offering partners liquidity and hedging options. this sounds more mature to me.

will the CPC dismantle bitcoin mining/finance in china? who knows? on the one hand, they may want to keep it alive as sustaining an alternative to the dollar/euro world order. on the other, they may want to attempt to replicate the system, but with an asset under their direct control. let's see if they can control themselves.

 

[Mengerian]

Satoshi's Vision Conference is pleased to announce an initial group of speakers for the conference, including Keynote Speaker Roger Ver!

www.satoshisvisionconference.com/speakers.html

Keynote

Roger Ver will be the Keynote Speaker for the conference. An early Bitcoin adopter and investor, Roger Ver is well known for his passionate promotion of Bitcoin, Bitcoin Cash, and personal liberty. He is CEO of Bitcoin.com which provides many Bitcoin and Bitcoin Cash products and services.

Developing the Protocol

Speakers include Amaury Séchet, Andrew Stone, and Tom Harding, the lead developers of Bitcoin Cash full node implementations Bitcoin ABC, Bitcoin Unlimited and Bitcoin XT.

Building the Permissionless Economy

There will be talks from builders of the permissionless economy and payment infrastructure, including Ryan X Charles of Yours.org, Chris Pacia of Open Bazaar, and Rob Danielson of Rocketr and Tippr.

Researching for the Future

The conference also features cutting edge research from speakers such as Emin Gün Sirer, Joannes Vermorel, and Peter Rizun.


This is only the beginning, more speakers will be added in the coming weeks.

Please check www.satoshisvisionconference.com for updates, follow us on Twitter @Satoshis_Vision, and subscribe to our mailing list.

 

[rocks]

It has been great to see the @bitcoin twitter feed become so active again and come out so strongly against core's manipulation.

But this message from blockexplorer.com is outstanding.
https://blockexplorer.com/

In August 2017, Bitcoin forked into two variants. These have taken radically different paths.

Looking at the situation one quarter later, it is clear to us that the Blockstream fork of bitcoin diverges so radically from the ideas presented in the Bitcoin white paper, that it is an evolutionary dead end. While it may still have high trading value, as a mere collectible of curiosity, the Blockstream fork of bitcoin is not part of building any future financial infrastructure, which is what Block Explorer is about.

A currency of the future has subcent optional usage fees and instant transactions. The Blockstream fork of Bitcoin ("Bitcoin Legacy") is at $20 usage fees and rising, with no end in sight, and can take days to confirm, despite unfulfilled promises to the contrary on both points when Segwit activated in what can only be described as a community fistfight. We are therefore making the decision to consider the Blockstream fork deprecated, and support it as legacy technology only.

Rather, we have made the decision to support the only bitcoin fork with a postive utility momentum, which is Bitcoin Cash. We took an early decision to deploy a Bitcoin Cash block explorer and will continue to roll out related services. We are also deploying tools for other cryptocurrencies we find on a positive momentum path, such as ZCash, which have increased privacy value.

We will not add future support for the Blockstream fork of bitcoin ("Bitcoin Legacy"), and will be deprecating it entirely at some future point in time to be determined. Developments have revealed it to be a dead end. At such a time, we will refer to Bitcoin Cash as Bitcoin only, but will make some effort to not break API calls by changing URLs of legacy automated systems.

More and more early Bitcoiners are coming out for the original vision we signed up for.

 

[hodl]

i like it:

 

[molecular]

@hodl: interesting to note that fiat-wise, BCH hasn't moved considerably. Until today BCH was moving in lockstep with BTC or even dropping harder.

Now: BTC/USD drops, BCH/USD steady => BCH/BTC up.

That's the way it should be. A good sign.

 

[molecular]

r_bitcoin is hyped about Microsoft accepting Bitcoin again. But I'm confused about the following from this news.com.au article

“We’ve restored bitcoin as a payment option in our store after working with our provider to ensure lower bitcoin amounts would be redeemable by customers,” [a Microsoft spokeswoman] said.

as redditor u/signos_de_admiracion notes:

And based on this blog post, that provider is BitPay.

Now remember that BitPay was going to stop processing payments under $100 in December before backpedaling two days later.

Maybe they started pulling the plug on Bitcoin payments when Bitpay first told them about the new minimum, then were pissed off when Bitpay bailed on that two days after the public announcement.

It's hard to say exactly what happened, but there's a 100% chance it was related to BitPay since Microsoft's reason for re-instating bitcoin is that they "worked with their provider" to allow lower bitcoin amounts.

So what is the result of their "work with their provider (bitpay?) to accept lower bitcoin amounts"? Accepting Bitcoin Cash!?!?

That would be tremedously hilarious.

 

[Christoph Bergmann]

The new Parity (Ethereum) can sync the chain with 1,500-2,000 tx/s on my system. Does anybody have stats how much tx/s Bitcoin can sync?

 

[awemany]

@79b79aa8 : Thanks! I agree on the general market, but I am also wondering about any signs for potential government intervention in the background.

China exiting mining seems a bit counterintuitive to me. So is this a bluff directed at the U.S.? Is this something else?

Maybe I am just eager to hear the crazy conspiracy theories on this

 

[freetrader]

So what is the result of their "work with their provider (bitpay?) to accept lower bitcoin amounts"? Accepting Bitcoin Cash!?!?

That would be tremedously hilarious.

Actually some kind of auto-convert during purchase would be great for payment services linked to big web wallet providers that already support BTC and BCH.

Similar to how wallets converted BCH into BTC after the fork, but in reverse. Saving BTC fees by doing the conversion internally on their systems at market rates, with settlement on the BCH chain.

EDIT: after thinking about it, I don't think any of them would implement it as they would not like to eat losses as BTC declines.

 

[Dusty]

If we can convince xapo to natively use BCH together with BTC this could be the year of the flippening: so many people are angry to bitcoin devs and are looking elsewhere I wonder how much time they have left.

 

[79b79aa8]

should BU publish a wallet-agnostic tool to help people safely split cold storage BTC into BTC and BCH? the road to migration isn't fully paved, and we need a highway.

also, this wikipedia entry might be made more informative and robust:
https://en.wikipedia.org/wiki/Bitcoin_Cash

 

[hodl]

@hodl: interesting to note that fiat-wise, BCH hasn't moved considerably. Until today BCH was moving in lockstep with BTC or even dropping harder.

Now: BTC/USD drops, BCH/USD steady => BCH/BTC up.

That's the way it should be. A good sign.

you're going to get alternating waves of one up, one down, one sideways, both with or with inverse correlation: bottom line is that there is clearly progress in the overall advance of BCH, both in absolute price and via the cross.

 

[hodl]

should BU publish a wallet-agnostic tool to help people safely split cold storage BTC into BTC and BCH? the road to migration isn't fully paved, and we need a highway.

also, this wikipedia entry might be made more informative and robust:
https://en.wikipedia.org/wiki/Bitcoin_Cash

you have to be real careful with this. apparently Armory has added a P2SH-P2PK format which is unique to it; exporting to a different agnostic wallet would likely not work.
[doublepost=1515603436][/doublepost]

If we can convince xapo to natively use BCH together with BTC this could be the year of the flippening: so many people are angry to bitcoin devs and are looking elsewhere I wonder how much time they have left.

unfortunately (for Xapo), they are unlikely to make such a quick pivot after selling off all their investors BCH (stupid).

 

[79b79aa8]

i thought armory had thrown in the towel!

i agree that it would have to be very careful, any error would come back to bite. i just think it is time to put to bed the following dialectic: "bitcoin cash is ok, but nowadays there are so many crypto alternatives with so many features a user can pick and chose from . . . ". a post aug.1 noob can be excused for thinking this, but anyone who bought BTC before the split cannot.

all that needs to happen is for legions of BTC adopters to activate the BCH they already have, which is ready to be used glitchlessly. of course we did that long ago, but for the user on the fence, the person who thought he would just put the BTC stash on hodl and never touch it until it was worth millions, it is still a bit of a daunting process to free up his BCH.