Gold collapsing. Bitcoin UP.

[Inca]

If you were a Core developer (out of the holy 4 or 5 aligned to Maxwell) there must be some sneaking doubts intruding on your mind that perhaps, just perhaps Maxwell is a false prophet leading you down a path of doom.

With the Coinbase pivot under way it cannot be long before Bitpay and other wallet providers and companies in the space take the same steps - if they are not already. This will spell doom for bitcoin over the longer term.

I just wonder why Roger Ver or another highly respected early adopter group doesn't try and create some dialogue between the major mining corporations and the other major companies in the ecosystem, especially given it is in everyone's (except one particular company) interest to see bitcoin grow users and market capitalisation.

It seems plain to me the ecosystem needs to briefly glom together and pivot in unison from Core to Unlimited or Classic. The companies in the ecosystem should offer a funded independent program to support the developers of the chosen implementation, ideally administered by something like the bitcoin foundation (although this seems tainted now so a new structure could be formed), and excluding Maxwell of course.

Such a move would be seen as emphatically positive for bitcoin and in all probability set off the next bitcoin bubble and adoption wave, potentially locking in bitcoin as the cryptocurrency of the world for the next decade. It would also prove that subtle and devastating multi-pronged attacks like the governance attack we are fighting can be overcome by selfish actions of self interested parties in the space.

 

[freetrader]

Classic's Tom Zander setting the record straight on some of Maxwell's FUD today (truly, there was too much):

 

[jbreher]

That's sad, to see that he apparently left? @Justus Ranvier ?

I could have sworn I saw that he 'Liked' a post only a day or two ago. I took this as evidence of lurk-only mode for the time being. Check back a handful of pages.

 

[freetrader]

@jbreher : Not that long ago:

https://bitco.in/forum/threads/gold-collapsing-bitcoin-up.16/page-570#post-20541

Since the question of when last some members were seen keeps coming up, the way to check this is to go to the member's profile, and check under "Recent Activity".

 

[sickpig]

WRT @Justus Ranvier: he didn't delete his bitco.in account, he just removed the avatar.

 

[awemany]

Ok, he did remove his reddit account though, which I find weird/worrying.

But thanks for all the info.


Maybe he simply has enough of it all - at least for the time being. As I said, I can fully understand such a sentiment.

 

[freetrader]

I love me a good conspiracy theory:


Maybe Stolfi was on to something with his time-locked Blockstream bonuses speculation (doesn't have to be contingent on keeping the blocksize small IMO):

https://np.reddit.com/r/Buttcoin/comments/3z4y12/tinfoil_hat_speaking_is_blockstream_motivated_by/

That + a hardfork which - oops - temporarily prevents the release of the timelocks would be such an awesome fail, it would make other fails seem like failures in comparison.

Maybe the first dumb smart contract, one couldn't credit it to a more deserving crowd.

In which case I put forward a name for this attack (introducing a buggy hardfork which temporarily blocks some obscure transactions): the Dipshit Attack.

 

[sickpig]

"We will not active the SegWit until seeing the promised (by "individuals" yes I know Maxwell could not be represented.) HF code being released in Bitcoin Core. "

 

[cypherdoc]

@sickpig

Congratulations @Jihan
[doublepost=1464293761][/doublepost]Gold collapsing. Bitcoin UP.

 

[freetrader]

Nice new account name, much more representative and good first post.

@Jihan represent!

Looking forward to more.

 

[awemany]

@Jihan: Please confirm/deny identity of new reddit account.

 

[theZerg]

Oh, and, forgot. Not sure I get the joke - - maybe I just don't know how to neckbeard speak:

https://www.reddit.com/r/Bitcoin/comments/4l678a/eragmus_jameson_lopp_jonas_schnelli_bitcoin/

Since anyone can anonymously join the P2P protocol, what's the point in encrypting communications?

 

[cypherdoc]

all 3 Chinese exchange bid/ask walls bullishly leaning. also, volume has increased each of the last 3-4d. Bitcoin UP.

and all 3 on the verge of a breakout up over April.

 

[awemany]

Since anyone can anonymously join the P2P protocol, what's the point in encrypting communications?

It makes it harder for large surveillance operations (e.g. NSA) to trace transactions through the network, and pinpoint their origin. I think it does actually make sense.

 

[freetrader]

Since anyone can anonymously join the P2P protocol, what's the point in encrypting communications?

I think a fair amount of information about identity can be gleaned by merely observing the network - where transactions originate etc. If the protocol is transparent this makes observation very easy. Adversaries in this case might have access to a huge amount of other metadata which they can correlate. Some of them just want to see the world become a safer place.

Qui habet aures audiendi, audiat!

 

[awemany]

all 3 Chinese exchange bid/ask walls bullishly leaning. also, volume has increased each of the last 3-4d. Bitcoin UP.

and all 3 on the verge of a breakout up over April.

Hah! That's just the typical optimism building cycle done by miners - they same some things indicating a HF might actually happen, and the price rises a bit.

Only to then retract on that and further 'confirm the adherence to the Core gods' to kill the optimism, depress the price...

Lather, rinse, repeat.

Meanwhile, Ethereum overtakes Bitcoin.

 

[AdrianX]

Maxwell says an inconsiderate HF might "end up confiscating people's Bitcoins where they have them locked up with nlocktimed transactions."

Can anyone confirm that such transactions are out there already, and whether "an incompatible change [to] the transaction format of the running network" might truly risk "confiscating" such funds (assuming the change is not introducing SW)?

Is it possible to easily determine ALL the existing CLTV transactions and quantify the amount potentially at risk? (just a yes/no will do)

Greg and a few other Blockstream Developers are the only ones who have claimed to have their bitcoin locked up in such a scheme, the skeptic in me thinks it was a burn the bridge proposition where the BS/Core founding Developers agreed to code the road to make them accessible, or the investor gets them back at some point in time.

 

[Roger_Murdock]

It seems plain to me the ecosystem needs to briefly glom together and pivot in unison from Core to Unlimited or Classic. The companies in the ecosystem should offer a funded independent program to support the developers of the chosen implementation, ideally administered by something like the bitcoin foundation (although this seems tainted now so a new structure could be formed), and excluding Maxwell of course.

Whatever happened with this? From Brian Armstrong's March 4 "What Happened at the Satoshi Roundtable" post:

Long term, we need to form a new team to work on the bitcoin protocol. A team that is welcoming of new developers to the community, willing to make reasonable trade offs, and a team that will help the protocol continue to scale. You’ll be hearing more about this over the next month or two.

And instead we got Coinbase adding support for Ether.

 

[cypherdoc]

they're gonna have to switch to something like Bitcoin. #4:

http://www.symantec.com/connect/blogs/swift-attackers-malware-linked-more-financial-attacks

 

[Aquent]

Jihan talks, and obviously I am glad he does, but as everyday passes I suspect that is all to it - - - talk. Obviously he has kudos for at least speaking while others remain silent, but of what use is speech. We have had speech for 3 years now and some would say 7 years. The first response to Nakamoto was that bitcoin would not scale.

With miners arguing about a HF in 2017, caring not about zero segwit in April, I have no reason to think otherwise than this is just cuddly nice talk, with zero action.

They look at coinbase pivoting and their response is some strong words? Ahaha.

Of course Jihan deserves the deepest respects of them all, but, words at this point? And if they wished to act, how would they act? Declare a hardfork? Do they have the guts to see the price fall maybe $20, or $50 if the priests declare pow hardfork? Can they stand through and like spartans hold as the mood shifts to fomo as capacity is increased, halving comes on and a cap in price is finally lifted? Are they even talking about it among themselves or is it just tweets and reddit posts? We have those ourselves!

Just words and appeasement, although their anger is clearly visible, but of who are they asking permission and of what use are their words which supported 8mb, supported classic, and still leave us at 1mb forever? Do they not know that they alone hold the decision and free market choice especially as almost all exchanges and bitcoin businesses support them or do they actually want 1mb forever and only cheap talk?

I'd prefer far less words and much more action for to me currently it looks like nothing but miners trying to appease and that may be a perfect choice. It however gives us nothing but a continuing shit-show which benefits no one, except for, maybe, Ethereum.