Gold collapsing. Bitcoin UP.

[freetrader]

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.

You did damn fine - I dare anyone to do better.

Just call it "Xtreme Thinblocks" next time, please - there's a lot of confusion around thin blocks and perhaps we should (a) distinguish Peter Tschipper's concept from the rest and (b) make it easier for ppl to find the source info by calling it that
[doublepost=1456976368,1456975187][/doublepost]Meanwhile, from the "i-am-technically-correct" side of Peter Todd's brain emerged a thought chain that resulted in the following verbalisation which caught my attention as a candidate for entry in a future "Book of Famous Peter Todd Quotes & Rationalizations":

You know, I do agree with you.

But see, this is one of the reasons why we keep reminding people that
strictly speaking a hardfork *is* an altcoin, and the altcoin can change
any rule currently in Bitcoin.

It'd be perfectly reasonable to create an altcoin with a 22-million-coin
limit and an inflation schedule that had smooth, rather than abrupt,
drops. It'd also be reasonable to make that altcoin start with the same
UTXO set as Bitcoin as a means of initial coin distribution.

If miners choose to start mining that altcoin en-mass on the halving,
all the more power to them. It's our choice whether or not we buy those
coins. We may choose not to, but if 95% of the hashing power decides to
go mine something different we have to accept that under our current
chosen rules confirmations might take a long time.

Of course, personally I agree with Gregory Maxwell: this is all fairly
unlikely to happen, so the discussion is academic. But we'll see.

Source: http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2016-March/012507.html

Doesn't strike me as an all-too-risky proposition. But then I've been awake too long, and sleep deprivation can really f*ck with your mind.

Edit: I just couldn't abbreviate Peter Tschipper's name in the same context. Fixed.

 

[cypherdoc]

 

[rocks]

@rocks I didn't.

I'm for the long haul.
I don't need my btcs for food and shelter.
I think I understand the forces that are in play now.
I'm patient.
I think we will have even greater challenges in the future.

You are most likely right, my faith has been shaken (most likely incorrectly) to the point that I'm only taking this hold forever position with half my stake. That said my sell instincts are horrible, I've never been happy with a sell point, buy points are usually fine .

If it does drop to double digits, might have to back up the truck though. There is probably a lot of money to be made as this disaster plays out among a larger market that does not follow and understand what is happening, so the problems will come as surprise to the market, but the solutions (after things go to hell) will also come as a surprise to the market.
[doublepost=1456981503][/doublepost]

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.

Perfectly stated, and this is what is so maddening about what is happening. All the early builders of Bitcoin have been pushed out and told they did nothing and talked down to. Its horrible.

It is why I think a re-birth path could gain traction. Start with a new path that a minority follows and build up from there. It has been successfully once, I'm sure it can be done again.

 

[dlareg]

http://i.imgur.com/Qm8Og0q.jpg?1

Trickle-Down Governance

http://www.emeraldinsight.com/doi/abs/10.1108/00251740610715759

The dark side of management decisions: organizational psychopaths

Design/methodology/approach – This paper defines organisational psychopaths as being those psychopaths who exist at an incidence of about 1 percent of the general population and who work in organisations. The paper describes how these organisational psychopaths are able to present themselves as desirable employees and are easily able to obtain positions in organisations. Without the inhibiting effect of a conscience they are then able to ruthlessly charm, lie, cajole and manipulate their way up an organisational hierarchy in pursuit of their main aims of power, wealth and status and at the expense of anyone who gets in their way.

Who's up for promotion at the Bitcoin HR department: Maxwell, Todd, Mow, BTCDrak, Dashjr, Back & Petrov

open-source project + $6.4 billion = cesspool of shady motherfuckers

Luke's difficulty hardfork proposal brings new height to the insanity:
"BtcDrak tells me he has well-tested code for this in his
altcoin" and also "I am unaware of any reason this would be controversial, so if anyone has a
problem with such a change, please speak up sooner rather than later."

Satoshi Roundtable is over and seems like a colossal non-event. What to do now? Talk me off the ledge, guys!

 

[Christoph Bergmann]

Ethereum is more overpriced bitcoin has ever been. In 2013 in Bitcoin people said, "crazy, it has become a billion dollar market". Now Ethereum has become a nearly 1 billion dollar market without any market. You can't pay with it anywhere, there is no smart-contract-market in sight that consumes billions in fees, and the upcoming hardforks leave enough space for any kind of manipulation and wealth-destruction a paranoid holder must fear. Ah, and there is no bugless working graphical interface.

It's technically an amazing project, but there is zero basis for the current valuation.

@dlareg

Satoshi Roundtable is over and seems like a colossal non-event. What to do now? Talk me off the ledge, guys!

What disturbs me is there was no single statement or blogpost about it. And the usual suspectives (Adam Back, Jeff Garzik, Gavin Andresen, the BitFury guy, samson mow etc.) didn't wait 24 hours to go back to their twitter fightings. As if nothing happened. If there's not something we don't know this seems like the event was a complete failure and there was zero nearing of the sides.

 

[albin]

My concern with ether as a long-term value proposition is that I don't think that any kind of Ethereum mainnet has the same strong network effects that a focused money app like Bitcoin has. There are possibly tons of private and/or proprietary Ethereum forks / instances potentially in the future.

 

[rocks]

Just checked blockchain.info and it is showing 23k unconfirmed transactions and 3,300BTC in fees!!

 

[Inca]

If ever you need proof that /r/bitcoin is being deliberately controlled by paid actors in the scene..

https://www.reddit.com/r/Bitcoin/comments/48p5ic/ive_tried_to_be_totally_impartial_but_the/

 

[Zangelbert Bingledack]

One important aspect of practical game theory that the Core diva faction seems to not understand is that something that can happen but doesn't necessarily can have prophylactic effects even if it doesn't happen.

This would make a great reddit post or even Medium article, probably ignoring LN so that it could get traction on /r/Bitcoin as well. This is the kind of argument that makes Core look like amateurs, underscores their economic ignorance (even though this isn't exactly economics, it's the same type of argument that Core never broaches).

 

[YarkoL]

The current state of the Ethereum remind's me of some inventor's shop that has all kinds of half-finished gizmos laying around, and some wealthy guys in suits turning them over, mumbling "hmm, I wonder if we can use this"

 

[satoshis_sockpuppet]

From the market cap Ethereum is now in the same league as Bitcoin, Bitcoiners have to admit that.

But Ethereum doesn't solve any of the issues Bitcoin has now (and btw. I'm still not convinced that "programmable money" is satisfying a real need atm, but that is another topic).
@YarkoL 's comic strip is a good summary of the problems Ethereum has.

1. Imho Vitalik is a huge target for blackmail etc. He is like Satoshi for Bitcoin with the negative effects of not being anonymous.
2. Ethereum is still very early in development. There will be issues. And imagine the same fighting we have in Bitcoin about the Blocksize in Ethereum about if you should really switch to PoS or not.

Think about Bitcoin without the nutty 1 MB limit. It isn't a Beta. It is working, it is complete as it is. Everything coming is cherry on the cake.

I think @cypherdoc said it before: Whenever the core devs aren't busy crippling bitcoin for Blockstreams needs, they are trying to compete with ethereum where they can't win.

It is something Adam Back, Maxwell, even Pieter Wuille etc. never understood:
Bitcoin is 99 % finished. Take away the blocksize limit and we are at 99.9%.
Devs gotta dev is a sickness.

 

[Norway]

Any thoughts on this new scaling initiative?

https://github.com/goodsamaritan9000/scalingbitcoin/raw/master/Bitcoin9000.pdf

 

[satoshis_sockpuppet]

@Norway I'll try to read it later, two things I recognized at first glance:
1. Safely scale Bitcoin to process over 9000 transactions. (p. 1) -> Would be nice to know the unit of the denominator..
2. "Bitcoin is hard to scale because .." (p. 2) -> This is very, very wrong imho. And people shouldn't repeat it.
Bitcoin is pretty easy to scale. You can start by changing a 1 to a 2.

Premature optimization is the root of all evil..

 

[freetrader]

Wow, I wasn't expecting that from the title. Off to a good start - lots of fresh ideas and injecting some much needed positivity right now.

What's that code before the "latte-buying hipsters" ?
Googling it yields matches for "push" - a good semantic fit in the context

https://www.google.com/search?q=ещ+згыр

I'm gonna get my coffee now and re-read it (no latte!)

"redditor for a day" - isn't that how it begins.

 

[Inca]

If we get a sudden doubling of ethereum I will dump my very small holding for btc.

 

[Norway]

@Inca

 

[cypherdoc]

 

[Zangelbert Bingledack]

The Core crew is taking a beating on the front page of /r/Bitcoin today, maybe a few mods are asleep. A Core/BS-slamming post is also the top post on /r/technology right now. Note how many points:

 

[Inca]

Bought my ETH at 0.0052 and sold it today at 0.02330. Bought some XMR and moved the rest to cold storage. Thanks Vitalik.

 

[Bagatell]

@Inca

Like wise (more or less)