Gold collapsing. Bitcoin UP.

theZerg

Moderator
Staff member
Aug 28, 2015
1,012
2,327
Bitreserve, a "blockchain only" proponent, goes down:
http://fortune.com/2015/10/14/bitreserve-bitcoin-uphold/
As much as we love to look at bad news through rose colored glasses, I can't help thinking that these "pivots" are not a big problem. Its just Bitcoin moving from a headline grabbing technology to actual daily use. In fact, in this case it sounds like you can now easily enter/exit their system with fiat, transfer between individuals, and choose to hold bitcoin or other commodities and currencies.

But there is already Dwolla, there are ETFs for holding commodities, and there are currency exchanges that do not use wire xfers (they mostly locally match incoming and outgoing). So whether they like it or not Bitcoin is their secret ingredient.
 
  • Like
Reactions: cypherdoc

cypherdoc

Well-Known Member
Aug 26, 2015
5,257
12,995
@theZerg

in the bigger picture, we always NEED losers like Halsey Minor.

bull mkts can never bring everyone along. only a few of us will make it to the finish line but along the way we need plenty of investors with weak hands to blow money on Bitcoin so it doesn't crash and die. the zigzagging volatility and repetitive 90%+ pullbacks serve to make even the staunchest of bulls who don't understand what is going on vomit up their coin to stronger hands.

i love Bitcoin.
[doublepost=1444845895][/doublepost]********************************
**********************************
*********************************

JPM making a break for it:

 

cypherdoc

Well-Known Member
Aug 26, 2015
5,257
12,995
 

cypherdoc

Well-Known Member
Aug 26, 2015
5,257
12,995
 

Justus Ranvier

Active Member
Aug 28, 2015
875
3,746
What if this describes what's going on in Bitcoin right now?

http://hintjens.com/blog:_psychopaths

I’ve explained how Mallory hides, hunts, attacks, feeds, and buries her corpses. Your next question is likely to be: “how can I tell if someone is a psychopath?” Once you realize psychopaths walk among us, things change. You start to wonder how many shape-shifting predators you know, or knew. You start to look at the people you meet, and ask, “you too?” The question may become an obsession. Yet it is the wrong question.

Or rather, it is only half the question. It is almost impossible to tell if someone is a psychopath or not. You need more than good observational skills. You need more than the awareness I described in “The Feeding”. You must actually get entangled, then analyse them as they attack you. If they attack you. And if you even realize that is what is happening. This is not an experiment I would recommend.

So a better question is, “how can I tell if a psychopath is active in my circles?” This is a valid question, and a necessary one. It is a question with solid answers. Psychopathy is like a disease that causes long-term mental damage in the entangled. This damage is Mallory’s impact crater. You can see that impact crater if you search for it. Look at yourself, other individuals, families, businesses, and other organizations.

It takes time and study. You look for pain, damage, trauma, and burnout. You look for depression and anxiety. You look for problems at school and work. For alcohol and drug abuse. Self-harm, and suicide attempts. If you see these, without other causes, chances are you’re seeing Mallory’s work.

Once you see an impact crater, then you can ask the question “who is Mallory?” Now you can pull out your checklists and narrow down the list of suspects. Start with the crime, then follow the trail.
Someone is making a profit from that pain. When you have eliminated all other suspects, the last person left is Mallory.

So this chapter is about hunting Mallory. Yes, we are going on a safari. We will track, and maybe trap, the most dangerous animal of them all.
In any case, it's a really useful book that is highly worth reading.
 

Peter R

Well-Known Member
Aug 28, 2015
1,398
5,595



Hmm...I wonder if anyone can help Adam figure out "what gives."

EDIT: Does anyone else find it mind-bogglingly disingenuous to refer to down-voting to the point where the comment is buried as "censorship"? It's as though Adam is trying to somehow make down-voting on par with when the mods actively remove popular content from the site.
 
Last edited:

cypherdoc

Well-Known Member
Aug 26, 2015
5,257
12,995
 
  • Like
Reactions: Peter R

Bloomie

Administrator
Staff member
Aug 19, 2015
511
803
We need to link from that reddit thread to this forum as much as we can get away with without getting banned.
 

cypherdoc

Well-Known Member
Aug 26, 2015
5,257
12,995
haha. deleted.

this was the post:

[doublepost=1444867375][/doublepost]



Hmm...I wonder if anyone can help Adam figure out "what gives."

EDIT: Does anyone else find it mind-bogglingly disingenuous to refer to down-voting to the point where the comment is buried as "censorship"? It's as though Adam is trying to somehow make down-voting on par with when the mods actively remove popular content from the site.
i'm convinced Adam et al are pessimists. they live in fear. i'm sure they are afraid of their own shadows. which is why HashCash never made it and why he didn't get Bitcoin until mid 2013.

there will never be a gaining of consensus with them. we have to move on with our own chain. the sooner the better.
 

Fatman3002

Active Member
Sep 5, 2015
189
312
@Peter R

That is a very good point. It's a point I think many central actors in the Bitcoin community are blind to. I worry that many very competent developers and programmers in this field are unaware of their own limitations with regards to economics. I don't really know of a solution to this, macro economists are shit programmers, but this problem isn't going to get easier as we move forward. Eventually, I guess lead programmers will have to become more like central bankers (I know, I'll dip my head in holy water), weighing their words very carefully in order to not send out unintended signals to the market. This might tone down some of the drama in the community as well.... maybe, possibly.
 
  • Like
Reactions: Peter R and AdrianX

AdrianX

Well-Known Member
Aug 28, 2015
2,097
5,797
bitco.in
@theZerg

in the bigger picture, we always NEED losers like Halsey Minor.

bull mkts can never bring everyone along. only a few of us will make it to the finish line but along the way we need plenty of investors with weak hands to blow money on Bitcoin so it doesn't crash and die. the zigzagging volatility and repetitive 90%+ pullbacks serve to make even the staunchest of bulls who don't understand what is going on vomit up their coin to stronger hands.

i love Bitcoin.
[doublepost=1444845895][/doublepost]********************************
**********************************
*********************************
totally agree, time to relearn some lessons :eek:

I'm getting a feeling that a lot of people are loosing confidence in the fundamental bitcoin design. I had had my doubts in 2012 and sadly acted on them. I can relate that 2012 experience a little to the general mood I pick up in the odd article and interaction today, although I'm still slightly confident it's going to play out well. (and yes to paraphrase not everyone is going to make money in crypto)

It was those hard lessons back then that inspired me to unlearn and relearn. I think we are entering or 1/3rd the way through the Trough of Disillusionment following the last growth spurt. (we're going to have many more ;-)
 

Peter R

Well-Known Member
Aug 28, 2015
1,398
5,595
haha. deleted.
The mods are pathetic.

I just re-submitted my animated pie-chart that visualized the deprecation of Bitcoin Core (this was the submission that was previously censored for "vote brigading"). It made it half way up the front page and then it was censored. I wrote the moderators to ask which rule I broke and frankenmint responded that he removed it because it had been removed in the past. I explained that it was apparently removed in the past for "vote brigading" and not because the content was banned. We'll see how he replies...

https://www.reddit.com/r/Bitcoin/comments/3osfb8/deprecating_bitcoin_core_visualizing_the/

EDIT: he says that upon reflecting, the pie chart promotes consensus-breaking client software and is not allowed.
 

AdrianX

Well-Known Member
Aug 28, 2015
2,097
5,797
bitco.in
@Peter R

That is a very good point. It's a point I think many central actors in the Bitcoin community are blind to. I worry that many very competent developers and programmers in this field are unaware of their own limitations with regards to economics. I don't really know of a solution to this, macro economists are shit programmers, but this problem isn't going to get easier as we move forward. Eventually, I guess lead programmers will have to become more like central bankers (I know, I'll dip my head in holy water), weighing their words very carefully in order to not send out unintended signals to the market. This might tone down some of the drama in the community as well.... maybe, possibly.
I actually think Peter has the solution to this problem, it requires a change in mindset, from Bitcoin being a developer centric project to a multidisciplinary centric project by doing Ledger a journal with a focus on sensitivity to economics, sociology, physics, law and political science as opposed to the ego driven will of the developers. (or the conflicting business objectives of there employers) Ledger could potentially be a communication channel for the interdisciplinary understanding needed to further the open development of Bitcoin.
 

Justus Ranvier

Active Member
Aug 28, 2015
875
3,746
I actually think Peter has the solution to this problem, it requires a change in mindset, from Bitcoin being a developer centric project to a multidisciplinary centric project by doing Ledger a journal with a focus on sensitivity to economics, sociology, physics, law and political science as opposed to the ego driven will of the developers. (or the conflicting business objectives of there employers) Ledger could potentially be a communication channel for the interdisciplinary understanding needed to further the open development of Bitcoin.
I'll reiterate my suggestion to read the Pieter Hintjens book I linked earlier today.

Building a community that will resist fracturing attempts like what have been successfully employed against Bitcoin requires particular precautions to be taken, which he outlines in the book.
 
  • Like
Reactions: AdrianX