Gold collapsing. Bitcoin UP.

79b79aa8

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Sep 22, 2015
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@freetrader bypassed BU once at the beginning by ensuring ABC was the leading BCH client, and is bypassing BU again in the effort to oust ABC from that role -- which has been thoroughly abused. i can see some reasons for the latter -- BUIP 143 probably leads to a split, and that is the end -- but, assuming the strategy somehow works and majority hash switches to running the bitcoin cash node, the same issues that arose with ABC are bound to come up again under the new, unstructured team. the clock ticks and BSV races ahead with none of these issues in its radar.
 

cypherblock

Active Member
Nov 18, 2015
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I'm glad to see @freetrader and others taking up (grabbing) the reigns from Amaury. Not sure what Amaury's ultimate plan was, nothing about the way he presents himself actually leads one to believe he wants a lot of $. Maybe having others take over was his ultimate goal? Hard to to honestly believe he thought that forced donations to a few addresses was the way to go.

I'm a bit confused about what @freetrader has indicated about following the longest chain, as that just leads to wipe out of a chain that gets overrun later, right? Possibly better to make invalid any block signaling for IFP. But I haven't really 'gamed it out' yet.
 
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Richy_T

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Dec 27, 2015
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It only causes a split if ABC loses. Which, regardless of the merits, it probably won't. I think we're seeing the concerns expressed early on about the power of those in control of the reference client come home to roost and it seems like it's possibly intractable.

It's all fine as long as you have a benign dictator. Pre-disappearance Satoshi or pre-coup gavin, for example but one slip (ironically, for BTC, Gavin leaving to try to grow the Bitcoin Foundation (itself a flawed idea anyway though)) and the unscrupulous seize control in short order.

The question is whether, with crypto, we got one step closer to being able to avoid this kind of situation or whether it just caused it to be manifest in a different form.
 
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trinoxol

Active Member
Jun 13, 2019
147
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Germany
I'm glad to see @freetrader and others taking up (grabbing) the reigns from Amaury. Not sure what Amaury's ultimate plan was, nothing about the way he presents himself actually leads one to believe he wants a lot of $. Maybe having others take over was his ultimate goal? Hard to to honestly believe he thought that forced donations to a few addresses was the way to go.
He doesn't want money? The 5% tax amounts to 6.57 million dollars per year! Is my math wrong?

144 [blocks/day] * 365 [days/year] * 6.25 [BCH/block] * 400 [$/BCH] * 5% = 6,570,000

That feeds 30 developers at 200,000 $ per year.
 

cypherdoc

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Aug 26, 2015
5,257
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same employers can print their own money
 

Zangelbert Bingledack

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Aug 29, 2015
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I'd been thinking too hi-falutin all these years. By its incentive structure, Bitcoin avoids control by local government whim, but it isn't something that sits outside the corporate-legal world we know, which binds every other trust, agent, and corporate entity in international law.

Lay down the protocol in international law as a set, unchangeable structure, do it properly and that is that. The protocol cannot be legally changed, and anything acting outside the basic rules of international law - by deviating from the rules, in breach of the Bitcoin contract - will never win out as it won't have any chance of corporate adoption (and at scale miners are big entities, easily seized).

After a few years, at scale, the economic desirability of stability ensures miners would never believe it is in their interest (even ignoring the dire legal consequences for a moment) to change the rules on which layers above have been built.

The problem of developers having ongoing control of the protocol is one of acting outside the law, in a "honeymoon" period before the wheels of justice catch up, and before scale and adoption and inurement by accrual of layers above (which is preempted by continual changes, a self-fulfilling prophesy) can set in.

Bitcoin solves this. You just have to take off the cypherpunk goggles to see.

https://craigwright.net/blog/law-regulation/on-decentralisation/
 
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lunar

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Aug 28, 2015
1,001
4,290
How can anyone still be so blind as to not yet see what is coming. It beggars belief.
It's no longer logical.

Bitcoin is free. The game has forever changed. Bickering over who does what to the BSV or any other coins protocol, is a toxic distraction.

Meanwhile .... Every delivery, logistics, and supply chain management company, just entered a new paradigm.

CFO jaws will drop.
UNISOT

 

cypherblock

Active Member
Nov 18, 2015
163
182
He doesn't want money? The 5% tax amounts to 6.57 million dollars per year! Is my math wrong?
I just meant that he doesn't seem like someone who wants money if you ignore IFP (his general style, etc). Yes by all means IFP seems like a sort of bizarre money grab.
 

Norway

Well-Known Member
Sep 29, 2015
2,424
6,410
Yes, this is the real deal. EHR Data is not doing an experiment, they are going for BSV after a lot of research in the space.

I guess they didn't want to ask Amaury for permission for a gigabyte worth of data per block.
[doublepost=1582490203][/doublepost]I'm so starstruck! Ian Grigg not only liked this tweet. He also retweeted it!

 

cypherdoc

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Aug 26, 2015
5,257
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well, here you go. CSW does indeed have kids. a few weeks ago I talked about using a grat and then a receiving trust to pass highly appreciated assets along to the kids tax free. "I own it but I don't own it. I control it but I don't control it" :


s
 
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cypherdoc

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Aug 26, 2015
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this looks to be a promising start to a correction:


[doublepost=1582593971][/doublepost]note how these things happen as soon as the President starts bragging about all time stock mkt highs.
 

Norway

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Sep 29, 2015
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I have a problem with bullshit. And this bullshit artist is really anoying:
[doublepost=1582640606][/doublepost]After digging and asking, his business is just to exchange fiat for BTC, BCH and BSV.
 

cypherdoc

Well-Known Member
Aug 26, 2015
5,257
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look at that. and they have the nerve to claim that Bitcoin is uniquely volatile. no one had a chance with these gap downs:


[doublepost=1582817438][/doublepost]my bet is that BitCoins stabilize.
 
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AdrianX

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Aug 28, 2015
2,097
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"What people don't understand is" Bitcoin needs to have a stable protocol. One can't build or solicit investment for an endeavour where a change to the rules can undermine that investment.

SEC Quashes Dreams of Bitcoin ETF With Another Rejection Bloomberg

Many of the ETF's proponents are scammers. They sold forked coins and have set a president with the IRS that forked coins should be taxed when created, practically forcing their sale.

Effectively they are claiming to be the arbiters of what is bitcoin by definition. Barry Silbert of the DCG fits that definition of scammer to a tee.

The previous forks were not arbitrary, they were a result of blocking attempts to restore the Bitcoin Protocol. BTC, the first is Bitcoin only in name due to propaganda endorsed by "useful idiots" aka "LamBrows" who are unable to rationalize the concept that bitcoin was not designed to limit one's ability to transact to a maximum of 1MB.

For those who say Segwit allows 4MB, not 1MB, you stand corrected, Segwit short for Segregated Witness, segregates signatures form the transaction leaving slightly more space for a few more transactions within the 1MB of transaction limit. Existing nodes prior to Segwit, only see 1MB of transaction data. This is by design it is an open attempt to keep Bitcoin limited to 1MB of transaction data.

An ETF if it were to remain neutral as all ETF's should in maters of protocol design, should have no influence over what is defined as or should be defined as Bitcoin.

Regulators have done well to protect the public and bitcoin by rejecting the BTC ETF's. An ETF can't exist under the current framework where a split resulting in coins on both forks can arise.

A stable rock-solid protocol that can't change is the basis on which one can build an ETF, and the services needed in an economy, everything else is just a money grab that results from scamming investors by redefining Bitcoin after encouraging a split.
 
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lunar

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Aug 28, 2015
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Great Interview.

He's still hung up on pegging bitcoin to something? Perhaps when all information is valued in Satoshi/byte he'll see the bigger picture. :)
 
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AdrianX

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Aug 28, 2015
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He's still hung up on pegging bitcoin to something?
He's got it - almost. It's pegged to time, time is money, money is time. Once you've spent time it's gone, you can't create more. The value created is not guaranteed. Money is circular we exchange it for time expressed as subjective value.

Money can't be created out of thin air when we innovate, that would be like creating more time. Innovation frees up time, it cant make more of it, Money is time. If we spend time well, we create value. Value fluctuates it's subjective, time and money don't change, how we value them does.

When we all agree to value money and time as a collective we get an economy that agrees if we innovate collectively we free up time to create more value, the money is then worth more.

Time is a fixed unit just like money, the resulting value change value is dependent on time, and it's accounted for over time as money.
 

cbeast

Active Member
Sep 15, 2015
260
299
I don't get Gilder. He is anathema to just about everything rational and logical. He believes in Supply-side economics, creationism, and many more subjects I would rather not mention. I would never in a million years expect him to have an understanding of Bitcoin.
 
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