Gold collapsing. Bitcoin UP.

[cypherdoc]

It is this feature that leads some to claim bitcoin is a digital version of gold.

Bitcoin Price Hits All-Time High Above $19,000, Topping 2017 Record

Bitcoin surged Monday to set its first fresh record in nearly three years, driven by a wave of new investors lured by the potential for big profits.

www.wsj.com

probably behind the paywall. sorry. just know that it's frontpage.

 

[AdrianX]

The irony is Bitcoin is digital cash with all the benefits that gold money once had. The idea that the features that makes gold impractical for the 21st century (it can't be transported digitally at next to no cost) is the one feature that was added to Bitcoin and is tolerated because it makes Bitcoin look more like digital gold.

Oh the irony, gold would never have succeeded if only 2000 transactions were permitted every 10 minutes, and people knew the supply would dry up.

 

[kyuupichan]

It seems BAB has split into BAB 1 and BAB 2 owing to ongoing attacks. Exchanges are on BAB 1 and Shitlord has unilaterally decreed BAB 2 is the real BAB. So it seems there will be no new depositing or withdrawing of either... what a shitshow.

I wonder why our Mengerian sticks with this shit.

 

[AdrianX]

So much of what is happening is a result of a lack of understanding. It's also hilarious that I'm not flattering to CSW in that post but I still get 17 down arrow clicks.

 

[theZerg]

A minimalist voting system based on bitcoin for relative small population such as a university/company/town will already be very useful.

Btw, no solution (thenical/non-technical) can prevenet people from selling vote. A good political voting system should not prevent selling vote but rather making selling vote eaiser, safer and transparent. The current form of democracy only leads to socialism.

Bitcoin enables some key elements, but a full voting system that solves all the problems in voting theory will require quite a lot of structure on top of Bitcoin, to prove people didn't sell their vote, to allow for people to prove their vote went the way they wanted without letting anyone else know who cast the vote, etc. It's a much, much harder problem than it at first appears.

A piece that discusses the conflicting requirements of voting systems:

Voting’s Impossible Triangle

The ideal attributes of democratic voting procedures are in conflict, necessitating tradeoffs

www.bitcoinunlimited.net

 

[cypherdoc]

I wonder why our Mengerian sticks with this shit.

Hi @Mengerian!

Splitting BCHA and BCH coins using Electrum ABC and Electron Cash - Bitcoin ABC Blog

Following the launch of Electrum ABC, it is now much easier to split your BCH (previously BCHN) and BCHA coins from each other. You simply need to use your Electrum ABC wallet alongside an Electron Cash wallet, as we explain in this step-by-step coin splitting guide: How it works Because both...

blog.bitcoinabc.org

 

[AdrianX]

Why doesn't ABC implement replay protection?
I understand why BCH and BSV didn't do it because the split was contentious and both had a claim to be the original, but not so with BCHA, what's the deal?

 

[cypherdoc]

but not so with BCHA

really?

 

[AdrianX]

There was a lot of noise with ABC, but not a lot of buy-in, those conclusions were drawn from the futures market and the resulting price after the split.

 

[theZerg]

Why doesn't ABC implement replay protection?
I understand why BCH and BSV didn't do it because the split was contentious and both had a claim to be the original, but not so with BCHA, what's the deal?

What's so funny here is Amaury's "automatic replay protection" idea/feature was always total bullshit (which is why no other node implemented it), and his own actions in this fork pretty much conclusively prove that. Did he make a *single* feature not stolen from someone else that was actually worthwhile, cause I can't think of one .

 

[cypherdoc]

Well, the entire space is better off without him. He was a special kinda toxic.

 

[cbeast]

The data storage, security, and retrieval problems of the world are solvable with BSV. I just don't get why the big hats don't get that. The paradigm shift is going to be earth shattering.

 

[bitsko]

the big hats are newbs, the cypherpunks have filled up the google with character attacks in leiu of technological arguments.

so despite the information being out there it's relatively inaccessible being drowned out in a sea of bullshit.

years yet for some of these business leaders to form a clue

 

[79b79aa8]

you know who were not newbs? BCH devs. yet they wasted three years being kowtowed by an evidently inexperienced, intransigent, self-centered hack that ended up forking his way to oblivion.

now it's too late. according to fyookball, for example, standard payments should still be BCH's priority. but digital cash will soon be issued by central banks, no currency conversions, no special fiscal regimens, no volatility, no contest. it's a path to irrelevance.

 

[AdrianX]

Markets tend to remain irrational longer than most can stay solvent or something.
There is only one way this works, and Jack nails it in his tweet.

BTC has an off-chain network effect that is growing and creating demand, the underpinning technology is the blockchain and it has its own network effect, BTC's is crippled so don't look behind the curtain.

BSV may have the foundation but it's lacking the demand that comes from growing the off-chain network effects, and that's scared by CSW who attacked the ignorant noobs who ask him the wrong questions. Not to mention those doubling down on him being the cult leader Satoshi a claim that is pushing moderates who would otherwise just look at the tech away. Leading with "CSW is Satoshi" rather than "BSV is the better bitcoin", seems to impede network growth.

BCH has a myriad of other problems, governance being one, it is scared by splitting the network because a tyrant insisted CSW was a bad actor only to be forked off when his motives were uncovered, and their adoption strategy of growing the network effect by onboarding merchants so people can cash out is not working out very well. It's also plagued with a fork every 6 months undermining those businesses wanting to invest and build on a stable network infrastructure. Not to mention BCH also has a pariah stigma.

The thing that kills me the cult members of each of those tribes is constantly trying to debate and convince me I'm wrong when in fact they should be showing me why they are correct. if they demonstrate understanding I can learn, but words that seem misguided are not enough.

...and the killer irony here is most early adopters of bitcoin, BU and nChain included, are invested in all 3 tribes so they just need to build and show.

 

[cypherdoc]

we've known this for awhile now, but it's always amazing to watch the graph dip below the zero bound:

ECB Expands Stimulus Program to Prop Up Pandemic-Hit Economy

The European Central Bank scaled up its bond-buying program and unveiled a new batch of ultracheap loans for banks, a move aimed at backstopping the region’s governments and businesses.

www.wsj.com

 

[Zangelbert Bingledack]

These rumored self-hosted wallet regulations. Do they mean any unregistered addresses are forfeited to the government? That sounds...catastrophic, especially if it's coming in the next month. I must be missing something.

 

[79b79aa8]

@Zangelbert Bingledack
well i seriously doubt any significant legislation in that respect is passed in the US in the next few weeks . . . i also can't see a forfeiture mechanism . . . what specific info is making you jittery?

@cypherdoc
indeed it is quite a development to see spain place debt (>1B €) with negative interest for the first time. you need to be quite burdened with cash to buy that.

 

[Zangelbert Bingledack]

Looking around it may just be about having to attest to exchanges when you withdraw to an address that it is your own address. (And when you send to anyone having to collect and keep a record of such attestation from the recipient, an extreme burden.) This would of course be used in tracing so it has privacy implications, but self-hosted wallets (i.e., holding your own coins) being prohibited altogether may not be what's on the table.

 

[79b79aa8]

want to run a cellular automaton (game of life) on the blockchain? for fun and giggles?
here's the contract . here's how to deploy it. no way to visualize it yet.
the program is written in sCrypt, which compiles into Bitcoin Script.

it's setup to run on testnet with toy coin but if you need real BSV to launch it on main hit me up and i'll fax you some.