will monero enthusiasts have a reckoning moment? transacting XMR with no illegal intent nonetheless has the direct effect of helping obscure illegal transactions.
Not sure what you're trying to get at. I'm just saying if I were running an exchange I'd be very nervous accepting bsv deposits after this. I doubt I'm the only one. So there will likely be more delistings coming as the chain now brings a higher risk profile.
What I'm trying to get at, is that the bitcoin system allows people to calculate the risk of certain events precisely.
Soooo, what you could do is look at the cost of such a double spend, then set deposit limits/confirmation requirements to completely mitigate this risk.
What I'm trying to get at, is that the bitcoin system allows people to calculate the risk of certain events precisely.
Soooo, what you could do is look at the cost of such a double spend, then set deposit limits/confirmation requirements to completely mitigate this risk.
Look at what happen to ETC and add a bit of that max keiser screech hate on top; sprinkle a little salt and you got what will hapoen to BSV.
Still will pump on robinhood, bittrex will put it back off maintenance, gravity, most likely voyager and more
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when coinbase.com only allowed withdrawls ever and made a post they were 'halting all trading' I knew some cuck there just wanted to add to the fear, uncertainty and doubt.
stay nervous bitches sunny fung about to take block fees parabolic
today's 500MB block carried $347 in fees, or around 2.4 BSV. upcoming milestones are the first 1GB block, and the first block to have >6.25 BSV in fees ($875 at current price).
it's a waste of money though ... the chain will suffer but not fold, and the bad publicity only reaches the ears of those who already perceive BSV as a pesky nuisance to their moon dreams.
The attack will cause more people to consider BSV brittle. Would you place your entire enterprise on a chain where there is no reliable block production?
Even if it's not a real problem and just reputation. The damage is done and that might have been the goal.
What people don't understand is... reputation matters. Nobody has time to check *all* the facts. When you consider a chain to be a dumpster fire, purely on what you have (falsely) heard, you might not take a look.
You make a "business decision" to spend your time elsewhere.
This is rational behavior of people whose time is precious.
And this is, indirectly, why price matters. The low price exposes the chain to such shenanigans. Price also is linked to reputation.
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Since I tend to say a lot of critical things here let me point out: I believe that BSV is the best Bitcoin technology and I would like it to succeed.
And this is why we need to stop shooting ourselves in the foot.
In hindsight, there was no damage. But before the "team BSV" fixed up the chain there was no guarantee that they would. An exchange is taking a real risk of experiencing an unmitigated chain rollback.
Right now, exchanges are actually at the mercy of the Bitcoin Association and Taal. Massive amounts of money depend on those actors behaving well. That's not a good place to be.
Yet another reason exchanges are dumb. They do nothing but empower crime. BSVs utility is the only liquidity it needs. The only "market" bsv needs is the ability to nLockTime tokens that can be rented to people for storing data on spent outputs. That data can be anything, including credit accounts. No exchanging of bsv is necessary. Its market will be rental fees.
At first, you'll rent them with fiat money to appease the banksters and show that BSV as a token system doesn't threaten their existence. Eventually, fiat tokens will be released by the banksters in BitCoin to make the payments when they see how much cheaper and more secure it is. They can also create token credit/debit accounts to maintain normalcy. No libertarian revolution is necessary.
If the block reward is not high enough eg the BSV mines do not earn significant value securing the blockchain, block reorgs could become trivial.
Re Bitcoin not killing the banks, Bitcoin does not destroy banks, it gives bank customers a better option and banks become as relevant as the horse and buggy after the invention of the car.
Banks today make money by creating money out of nothing and then renting it to people. Why would banks rent BSV from you or me? Their business is doing so well it's literally destroying the planet and governments love them. They fund exponential growth and war which makes government more relevant. Money printing literally forces wealth concentration and bitcoin threatens that hegemony.
It's a lie or dishonest or nieve to predict sound money does not impede or destroy the banking industry by forcing it to become honest.
Right. That's why they are suppressing the price. It's criminal exchanges that are in collusion allowing or are actively participating. They must be shut down for awhile and restructured to allow heavy regulation.
Re Bitcoin not killing the banks, Bitcoin does not destroy banks, it gives bank customers a better option and banks become as relevant as the horse and buggy after the invention of the car.
Banks today make money by creating money out of nothing and then renting it to people. Why would banks rent BSV from you or me? Their business is doing so well it's literally destroying the planet and governments love them. They fund exponential growth and war which makes government more relevant. Money printing literally forces wealth concentration and bitcoin threatens that hegemony.
Governments will require banks to be 100% accountable like before Reagan. They will go to jail for fraud like the S&L crooks. The government will offer electronic money based on blockchain to assure that. Most likely, they will enforce it with capital punishment like China.
It is if it is criminal to use, I doubt anyone is going to risk their lives to use bitcoin to buy coffee, again like in China today. Drug cartels use the most fungible money available.
BSV will be legal only as a colored token. Only licensed brokers will be allowed to trade bitcoins except through government portals to exchange for fiat only, just like gold was.
If you don't understand this basic concept, we're simply at an impass.
Governments will need to go back to 1971 but whatever it's all water under the bridge. Governments have spent that money there is no going back not even like one day.
BSV is bitcoin - bitcoin is BSV so WTF?
BSV already wone then, should I stop mining it?
I understand what you are saying, it's just so outrageous it sounds like a delusion.
Fiat or fractional reserve banking or debt-backed money can't work (it does not work based on the empirical data), all those types of money need economic growth in order to exist. Money (bitcoin excluded) is literally used to manipulate economic growth.
Exponential growth in a limited space ends in collapse. We're fast approaching that point now.
Governments can change overnight. They often do. Might as well keep mining and holding BSV. But right now it's like buying oil fields before Henry Ford created the mass-produced automobile. Middlemen hated him. They hate CSW for similar reasons.
Mining is a problem. The countries that banned it will regret their action when they are no longer in the club. OTOH, civilization may not survive the nuclear age anyway, so no point worrying about the ever-escalating financial cold-war. China will rebuild its mining base with Quantum computers if it can.
Delusion is about current events. I think I have a pretty good perspective about the historical mechanations in China and the USA. I'm making predictions and they're not just mine.
Debt is the foundation of the economy since the invention of the economy. There is no such thing as a barter economy. Never ever in the history of the homo oeconomicus. Debt economy is a tautology; barter economy is an oxymoron.
The environment that does not grow is the environment of stateless communities. There you need/have neither growth nor an economy. There is self-sufficiency. The economy is by definition the destruction of the planet.
'Essentially, the economy is an engine that transforms resources into waste' Ugo Bardi
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