Gold collapsing. Bitcoin UP.

[Norway]

@_mr_e

So the claims that data uploaded to bsv will be there forever is false then? If miners can't profit from it, it disappears.

Again, this is false.

It will be there forever because there's a market for it. Let go of the free shit army mentality.
[doublepost=1562357042][/doublepost]When mom pays your internet connection, it's easy to become a recruit to the free shit army.

 

[_mr_e]

There's a market for everybody's shitty home videos? You can't actually believe that.

Storj can host such files and not as free shit, allowing for actual censorship resistant content. Not sure where you are getting I'm a free shit army from? I'm a using the best tool for the job army. A blockchain is not a place for large files.

 

[cypherdoc]

no one is "consistently" going to pay even the small fees to upload shitty home videos to the BSV blockchain. look at how cheap (as in cheapskate) even the spammer attackers are. I keep asking; where are the consistent 128mb attack blocks that were supposed to overwhelm the network/chain? soon I'll be asking the same thing for 2GB blocks.
[doublepost=1562363194][/doublepost]remember gmax trying to sound all economically intelligent with his "infinite elastic demand for supply" meme? hows that turning out?
[doublepost=1562363497,1562362823][/doublepost]answer: we're witnessing the power of a fixed supply currency. no one wants to waste even a few satoshis fee to upload shitty home videos on a consistent basis as they have the potential to go to the moon via market price.

 

[_mr_e]

So you're saying no one is going to spend money on things like twetch where the friction is too great and a free option exists? That I can agree with.

 

[cypherdoc]

I'm not familiar with Twetch yet but what I am saying is that no one is going to spam an unlimited BSV blockchain with worthless shit if they can't make money doing it (or conversely not lose money from doing that) , especially when there would be no clear ceiling to disable the network as an attack. stock trades and coffees would be an entirely different matter as the business opportunity there does indeed exist to make money on trading fees or coffee markups from useful activity as opposed to merely speculating on the price. these are concepts you should have learned from the old newsletter.

 

[_mr_e]

Stock trades are not interesting. We have great systems for that already. We came here for the censorship resistant monetary system I thought. Things to spend that money can be built on better platforms designed for that specific purpose.

 

[cypherdoc]

the beauty of an unlimited blockchain is that an outsider looking in can suddenly dream of unlimited potential; the sky's the limit when it comes to a business opportunity that won't be restricted to 7tps. a stable protocol also ensures that the rules that determine your assumptions won't get yanked out from underneath your business after you've invested potentially $millions. hoping that core devs or some fantasy "concenus" social mechanism will result in a greater tps is not a strategy, let alone a wise one. they'd rather wait for you to commit than they commit; this is where core has it backwards.
[doublepost=1562366754][/doublepost]>Stock trades are not interesting.

stock trades are extremely interesting as they would represent widespread adoption and a mooning BSV price. this adoption can happen one of two ways; either BSV becomes the new reserve currency with stock trades denominated in BSV price and fees with the actual trade data remaining offchain as you say, or they can occur within OP_RETURN's (as hash pointers or actual data) that will be pruned by every non stock house in consideration of storage. either way, the unlimited BSV blocks with it's cheap fees and fixed supply currency facilitate unlimited profit potential for stock dealers.

 

[Christoph Bergmann]

Nice to have someone here who is tends to be for btc, if I understand you correctly, @_mr_e

I must admit, I have made and received dozens of lightning transactions over the last months, and it works fine. Still sceptical if it is useful to increase adoption, but at least...

About storing files and so on on bsv... If you understand what you can do by simple storing files and codes as a string on the bitcoin blockchain... You can basically do everything all the 'blockchain' people want to do, without reinventing the whole thing, but with all the maturity of the bitcoin software, and in a senseful and scalable way. It needs some time to get it, I did not understood why moneybutton or what unwriter makes for a long time, but when I understood... Boom...

It's not so much of the money thing, which is a surprise, but it's crazy interesting
[doublepost=1562366811][/doublepost]Ah, and it can highly improve the money thing... For example, with a file onchain you can build brainwallets which are secure and memorizable...

 

[Norway]

There's a market for everybody's shitty home videos? You can't actually believe that.

Yes, I do. I don't say there's a customer for every single piece of data. But as a business, you can never know 100% what you customers want.

If nobody wants the data, what's the point of storing it? You continue to reveal that you're a member of the free shit army, Mr. E. Economy is not your strong side.
[doublepost=1562367746][/doublepost]Bitcoin is an economic game with rules. It's not a computer program.

 

[cypherdoc]

actually, i've become a real huge YouTube video fan. i can't believe the otherwise shitty home videos that most entertain and/or educate me and then again, there are some very high quality shitty home videos out there that people are making some real serious money on. whodathunk.
[doublepost=1562367986][/doublepost]i mean, look at K Kardashian. apparently millions of people like to watch videos of her ass. i'm not one of them but apparently she's started charging real dollars for the view, lol. who am i to judge?
[doublepost=1562369041,1562367907][/doublepost]since 6wks ago, the BSV/BCH has more than tripled off it's bottom of 0.15 (~3.3x) and is now grinding higher. the flippening of the tx counts and blocksizes suggest this will continue:

 

[Norway]

It is a matter of historical record that BU is well financed. Funds available are in BTC, BCH & BSV.
Obviously we want this to be wisely spent on scaling Bitcoin i.e. we have focused primarily on BCH for the last 2 years and now solely, after the mandate from the recent membership vote.

What's happening with the BU funds?

I think @Peter R gave a high level report, but that must be more than a year ago, right?

I remember we voted for Peter's suggestion to sell BTC for BCH. But honestly, I don't think we have seen any details on BU's financials since before that vote.

What's the current status? And how detailed can we see the spending?

The link to my quote of @solex is here:
https://bitco.in/forum/threads/buip126-planet-on-a-lan-stress-test-model-network.23963/#post-93668

It's a response to a question from @jtoomim about how much money BU has.

EDIT: Just to be clear: I'm critical of the path BU has taken by dropping development (temporary?) of the BSV chain. But I will not cry about the selling pattern the BU officers did when they sold BTC. It's impossible to predict short term, and I'm just happy someone did the job. Let's not be Captain Hindsight about these trades.

 

[cypherdoc]

hey @freetrader , you still believe Bitmain is going to IPO?

 

[cbeast]

So you're saying no one is going to spend money on things like twetch where the friction is too great and a free option exists? That I can agree with.

Although I haven't really gone into Yours or Twetch yet, they clearly have superior incentive structure to assure high s/n ratio. Social media that use AI algorithms to anticipate your special interests and suggest related topics would not only add value to such models, they would also receive greater incentive to improve. I can't see a downside to an AI driven pay-to-post social media model.

 

[79b79aa8]

So the claims that data uploaded to bsv will be there forever is false then?.

data uploaded to the blockchain will remain there so long as it is profitable. this is so regardless of the blockchain and of the amount of data.

 

[_mr_e]

I'm not saying there isn't a need for censorship resistant apps or videos, there definitely is, I just think there are better network designs that don't use the blockchain but can use Bitcoin as the payment layer. Lightning makes these kinds of systems possible. A global monetary system should excel at that one thing and do so efficiently as possible not become a shit hole of cat videos. However, I could potentially see a form of bsv features working as a side chain with instant lightning swaps if designed properly.

 

[solex]

What's happening with the BU funds?
I think @Peter R gave a high level report, but that must be more than a year ago, right?

Peter will prepare a report in due course. To be clear, its funds are being spent only on Bitcoin Cash full node development and specific defined projects as per the passed BUIPS. BU still has its "airdrop" BSV.

 

[_mr_e]

sorry, i like this one better

Sorry but does this chart account for batching, lightning, exchange2exchange, coinjoin, BITMEX!? Looks like it doesn't even include segwit!? I'm honestly not sure what it's trying to prove?

 

[trinoxol]

https://twitter.com/MyLegacyKit This guy is publishing the entire 200 page Wright vs. Kleiman transcript in his Twitter stream. Likely he bought it and is illegally publishing it here so it may be gone eventually.

 

[freetrader]

Reading on the Kleiman v Wright case:

Older post: (prior to leak of June 28 contempt hearing transcript)

https://medium.com/@danielkelman/opinion-on-current-issues-in-kleiman-v-wright-4240e4fcfd5

First update from today:

https://medium.com/@danielkelman/kleiman-v-wright-update-1-3b85a0b6a612

Wizsec blog:

https://blog.wizsec.jp/2019/07/kleiman-v-craig-wright-part-3.html

 

[freetrader]

Bad cops, no donuts.