Gold collapsing. Bitcoin UP.

[solex]

Gossip on twitter...

 

[hodl]

Brutal

 

[hodl]

Hmm, let's think about this. SC's main proponent and designer gone from Blockstream, rt hand blue haired man gone to Chainlabs, CT's that are known to be 50x the size of regular tx's, merge mining game theoetic issues that we've known about since the WP, SPV proofs requiring look backs of 200 blocks or so not too practical and being pounded on by none other than Peter Todd himself. Remember those 400 pages or so of debate from BCT? Seems to me like SC's are dead forever (although never say never) . At least in regards to its SPV proof model.

With that in mind, it comes down to just LN vs BCH for long term scaling. That's an easy win imo.

Furthermore, let's assume SC's are dead (I am). This means that we've gotten rid of a significant risk factor for Bitcoin becoming a WoW speculative asset trading platform. That's good, especially if you're a firm believer that Bitcoin was meant to change the world of finance through merely being a revolutionary Sound Money. I contended several years ago now back when the price recovered to around 700 from 150 that we sound money proponents had already won; most of us just didn't realize it at the time. What's continued since then as the clear winner in the entire space has been the price and nothing else further solidifying that contention. Investment continues to only flow into the coin itself and will continue to only do so being central bank money printing is the #1 problem of the day.

Now, is it gonna be LN or BCH that can function as money? Imo, LN design makes no sense nor does the SW discount. People just don't use money like that. BCH merely continues what's worked. I know what I'm betting on.

 

[awemany]

On Greg:

- I don't think he was (as some think on reddit) instrumental in NO2X against the wishes of his puppeteers. NO2X was a well-orchestrated PR-campaign, likely from the same folks who did the UASF bullshitting and likely the group identical with his masters. He was just aligned to it with his smallblockism and it further fueled his ego trip.

- IMO, whoever was behind the campaign simply overdid it all by trying to force Bitcoin all the way to mold to their expectations. If you think about this, the 2X failure might well be seen as the beginning of the end of the old financial system. They stretched the strings they pull to control things just a tiny little bit too far.

If you further ponder about this, that already shows a lot of the power of POW and Crypto.

- I think he indeed himself resigned from Blockstream.

- In his 'champaign' post, I sensed fear. Fear that he might have just helped a lot with driving Bitcoin against the wall. I suspect his resignation to be aligned with that fear. He wants to get out of the spotlight now, as he's smart enough to see (or at least subconsciously feel) where things are heading for BCH:BTC.

 

[79b79aa8]

it is also the case that the man is, since november, a well confirmed millionaire. at some point that is enough and one loses appetite for the fight, especially if it has been lost (together with a whole lot of face).

 

[awemany]

Addendum to the Greg saga, someone on reddit says more people are removing 'blockstream' from their twitter profiles?

I didn't check the claim regarding excellion, though. Is he still supposed to be at BS?

 

[Tom Zander]

That's where I'm coming from. Yet I think it's worth examining what a node would need to support wallet interaction. Certainly, examination of the UTXO set would allow simple wallet functionality fairly easily. Transaction history means either a rescan of the blockchain (either by the wallet or as an internal function of the node software) or keeping an indexed database of historical transactions. The wallet scan is simplest, probably most privacy preserving but likely to be the most resource intensive and slow. Scanning by the node, mildly resource intensive, potentially privacy invasive and also slow. Indexed database would be fastest but require dedicated storage.

I'm just picking this part, but reading the conversation between you and @justus-ranvier.26 is very interesting as I've been thinking along the same lines for a while.

My preference is a wallet that trusts the node and leaves all the validation to the node. This avoids the UTXO interaction you want. But I'm certainly not against UTXO introspection, that API should definitely add a lot of usability. One thing to remember is that the UTXO is actually a fragment of the one that we inherited from Core.
The pure UTXO is nothing but a list of transaction-id and output-index. Core made the design mistake of adding to this the actual output script (which caused the memory issues that we saw explained on breaking bitcoin), without this output script the UTXO is substantially smaller.

There are a lot of such design issues that Core gave us and which make our lives harder today.

I swear I need to start diagramming this.

My personal design is one best explained by saying we should remove the concept of the tx-index from the node and instead build on top of the node a data-warehouse to actually store links like the tx-index. The only addition we need on the node side is that we need an API to get the full transaction based on some meta-data like index-in-block.

I've been working silently on my new project which is meant to realise many of these goals. I no longer call things a 'node', but instead it becomes a 'hub'. The hub is much more humble and has a lot less duties than the full node. And in real Unix philosophy, the hub is intending to be the best at the things it does.

If you want to read more on this idea; http://floweethehub.com

 

[hodl]

Addendum to the Greg saga, someone on reddit says more people are removing 'blockstream' from their twitter profiles?

I didn't check the claim regarding excellion, though. Is he still supposed to be at BS?

Well now. That would make sense. Greg leaves Blockstream, Kat Walsh leaves Blockstream. True love. I also believe Kat is the notorious midmagic/midnightmagic.

I don't see Blockstream on Mao's profile.

 

[79b79aa8]

blockstream is now just another blockchain company working on proprietary solutions, under the apt and far-seeing leadership of adam back. in other words, it is already irrelevant.

meanwhile, bitcoin core bet the farm on off-chain scaling, which is now reduced to LN. but even if LN is made to somehow work, it does not cover the most important use cases for digital money. so it is not a game-changer. the cost of this gambit was to irreversibly cripple the BTC network.

yet in their minds, the people involved in the 2014-2017 blockstream/bitcoin core reign probably see themselves as having thanklessly served as stewards of bitcoin. expect no recognition of error or self-criticism.

it's ok though. bitcoin survived the long night, the system works better than ever, governance has been sorted out, and all sorts of pent-up innovation is hitting production every day. this bird will fly.

 

[hodl]

it is also the case that the man is, since november, a well confirmed millionaire. at some point that is enough and one loses appetite for the fight, especially if it has been lost (together with a whole lot of face).

Is there a link for this?

 

[79b79aa8]

no, i am making inferences. i guess i should not have said "well confirmed", sorry.

but mr. maxwell was an early miner* and i find it exceedingly hard to believe he did not save up a couple of block rewards. that's 100 BTC, worth well over $1M.

EDIT*:
he was mining pre-GPU in early 2011.
https://bitcointalk.org/index.php?topic=7361.msg108052#msg108052

 

[hodl]

Bizarro world continues apace.

https://api.cointelegraph.com/amp/v1/en/news/nyse-parent-firm-and-blockstream-create-coinmarketcap-for-wall-street?__twitter_impression=true

Emin up in arms and rightfully so

[doublepost=1516389803][/doublepost]@lunar

Simple DIY Plans for an At Home ASIC Mining Farm. This Setup supports up to 12 Bitmain ASICs.

 

[albin]

This is definitely not what anyone wants to hear, but to play devil's advocate, isn't it plausible that he just dumped a lot of BTC for USD in November, and doesn't care about having a job anymore? It's not like he can't hold court and pontificate as per usual on wizards.

 

[79b79aa8]

@albin that is exactly what i am saying

 

[Norway]

Finally, a music video project I have been working on for a long time is finished.

The song is called Fuck Off Blockstream and the band's name is Dirty Bits.

This is the first place it is published, as a tribute to this excellent thread

 

[hodl]

I guess I'm not the only one that had his Twitter account twittled with :


http://reddit.com/r/btc/comments/7rithu/bitcoin_cash_supporters_are_having_their_tweets/

 

[79b79aa8]

@Norway -- talk about timing! now which one is you?

 

[hodl]

"and interestingly he mentions bitcoin cash mining as well, by way of the mining process"

https://news.bitcoin.com/new-us-65-million-bitcoin-mining-facility-is-among-largest-data-centers-in-north-america/

I still don't think we have mining centralization as claimed by Greg et al

 

[Norway]

@79b79aa8
I'm not in the band, but I'm in the video. I'm hiding under the Bitcoin Cash caps

 

[freetrader]

I also believe Kat is the notorious midmagic/midnightmagic.

I doubt that somewhat. Any indications that Kat is technically versed? Didn't register with me, but I'd say midmagic is. And curious, midmagic popped up on the BTCfork slack once, around the time of the BCH fork. I don't see why Kat would do that, but Theymos or Greg... I'd sooner believe it's one of their alts.

Also, Nov 13 - /r/bitcoin mod crew doubled

Nov 21 - evidence accumulates that /r/Bitcoin mods are involved in attacks on /r/btc, and that Greg himself may be involved

Whether those events are in any way related to his resignation? Who knows. His purported reason doesn't gel, it certainly doesn't seem like he was managing much at all around BS ("dipshits").