Adam and Conflict of Interest. clownish isn't it?
Gold collapsing. Bitcoin UP.
- Thread starter cypherdoc
- Start date
Adam and Conflict of Interest. clownish isn't it?
Roger_Murdock
Active Member
- Dec 17, 2015
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Well, either that or bidding it away from Core miners. Isn't it a basic premise of capitalism that productive assets will tend to be bid away from people who aren't making the most productive use of them? If we think that the collective hashpower of the Bitcoin network is not being used as productively as it could be (because of the artificial constraint on network capacity that miners are imposing by running Core), that should create an opportunity for new investors to profit by buying up that hashpower and deploying it more productively. The difficulty of course is the collective action problem. If an individual miner buys up say 5% of the network's hashpower from a Core miner and mines Classic with it, he's not really able to effectively deploy that asset more productively unless enough other people make a similar switch.
But as the gap in value between the Bitcoin network as it is and the Bitcoin network as it could be grows larger and larger over time, the more tempting it becomes for a well-funded investor or entity to attempt to buy up enough hashpower (whether new or existing) to have a decisive impact on the network's direction.
- Dec 16, 2015
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Oops!
https://github.com/bitcoin/bitcoin/issues/7633
Always nasty when your bug is aggravated by self-inflicted blocksize limits.
https://github.com/bitcoin/bitcoin/issues/7633
Always nasty when your bug is aggravated by self-inflicted blocksize limits.
Thanks, but have they worked out how to implement POS? I originally thought this was possible but then @Justus Ranvier pointed out some clear flaws around the fact that there is no concept of time in POS (unlike POW) and currently there are various methods to exploit that.
- Aug 22, 2015
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Are you thinking of this paper (which I did not write)?
https://download.wpsoftware.net/bitcoin/pos.pdf
Norway
Well-Known Member
- Sep 29, 2015
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No, I just remember that you posted something about how POS does not have the concept of time (which POW does since it is based on real world activity). I thought about that comment some and how that could be taken advantage of, and then changed my mind regarding POS.
If ETH is serious about POS, I am now wondering how they are going to make it work. At first I thought it was a superior solution for a crypto currency who's coins are already distributed, now I am doubtful.
majamalu
Active Member
- Aug 28, 2015
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We may have to suffer a little more yet, but I am confident that soon enough we'll see Blockstream collapsing, Bitcoin up. 
Norway
Well-Known Member
- Sep 29, 2015
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@majamalu
The price is dropping at a good rate now. It will hopefully go further down. Squeezing the pool operators and miners.
Making them taste their own blood.
Making them desperate and look for solutions.
Making them mine with Classic or at least stamp their blocks with version 0x30000000.
Classic is the brutal and simple pry bar we need now to establish a new reality where different teams compete for the honor of having their code run by miners.
Bitcoin Unlimited is the skillz, vision & future implementation.
- Dec 16, 2015
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On the one hand, I want the price to go down slowly so it doesn't fall too much (*).
On the other hand, I know the longer this drags on the worse off Bitcoin is in the long run.
* ok, and because drama adresses a fundamental human need for entertainment
On the other hand, I know the longer this drags on the worse off Bitcoin is in the long run.
* ok, and because drama adresses a fundamental human need for entertainment
majamalu
Active Member
- Aug 28, 2015
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I'm ready; I don't care if we have to descend to double digits. Blockstream must burn in front of everybody: only then the lesson will be well learned.
@majamalu Should we assume you sold off your positions then? Or at least a good chuck?
Well one good thing about the price dropping 90% is the BTC fees blockstream's fee market creates become affordable again. Another benefit is as the price falls people will probably stop using Bitcoin and the network will become unclogged again....
Well one good thing about the price dropping 90% is the BTC fees blockstream's fee market creates become affordable again. Another benefit is as the price falls people will probably stop using Bitcoin and the network will become unclogged again....
albin
Active Member
- Nov 8, 2015
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It's especially disgusting that he talks to folks like Olivier like this, who admittedly said some regrettable racist things in the past, but should be acknowledged for leveraging his early adopter status to become a massive benefactor, funding Lighthouse to the tune of $100,000 in an effort to improve methods of funding devs.
Classic is filled with early adopters who stuck their neck out to promote Bitcoin when everybody thought they were insane. Folks like Roger Ver, Gavin and Garzik did more for Bitcoin back when it was practically worthless than Adam Back will ever do in his entire life, yet Adam Back somehow has license to make altcoin conflict-of-interest allegations.
Ehh... I didn't do that well she's pretty intense f2f and there were some technical difficulties. Also, you know I'm trying to thread the line between accuracy and too much technical detail.
VeritasSapere
Active Member
- Nov 16, 2015
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I also want the price to drop more now, make them feel the pain. I am still holding on to all of my coins, I am a true believer.
I will hold all the way into the ground and back up again. At least I am also holding other cryptocurrencies as well, I am confident the technology will do well in the long term no matter what happens.
I will hold all the way into the ground and back up again. At least I am also holding other cryptocurrencies as well, I am confident the technology will do well in the long term no matter what happens.
