Gold collapsing. Bitcoin UP.

[albin]

DanV apparently still believes that we are going to explore a new low in the double-digits purely from his specific interpretation of the waves. A wake-up call is one thing, but I'm not sure how we would survive that!

 

[cypherdoc]

I agree. That's my recollection.

Also re-emphasize the "dangerous opcode scripting" that was meant to eliminate Turing Completeness and preserve the sound money function of Bitcoin.

if memory serves it was proposed by Hal Finney.

Other significant work by Hal was the review of script opcodes. As a result a bunch of "dangerous" opcodes had been disabled.

I

 

[AdrianX]

@rebuilder How much heat can a bitcoin mining rig produce? Can it melt steel? Plastic?

An asic chip can produce around 80 deg C. It's enough to melt wax and some plastics. Ideal for heating hot water.

With a heat condenser you can produce more heat but most cosmetically available products on the market are not designed to work in that zone.

 

[albin]

Is this remotely credible?

http://8btc.com/thread-34762-1-1.html

If so that would be extremely interesting.

As an aside Google translate comes up with some gems, but fairly functional here. Some highlights: "Or ask to buy a roast cat stock is also OK". "I have Albatross ambition, rustic and tortoise with pool."

 

[megadeth]

GBTC hits a new 52 week high : $132
COINXBT:SS also hit ATH: 31.16 SEK

 

[satoshis_sockpuppet]

As an aside Google translate comes up with some gems, but fairly functional here. Some highlights: "Or ask to buy a roast cat stock is also OK". "I have Albatross ambition, rustic and tortoise with pool."

Hehe. Looks like we have a few years left before Skynet takes over if you look at the level of google translate..

Funny how this all comes down to communication in some way: Censorship, manipulative propaganda, language barriers and "Chinese whispers" * by using google translate.

* Just found out that that's supposedly the English term for this game, https://en.wikipedia.org/wiki/Chinese_whispers . Remarkably adequate

 

[cypherdoc]

GBTC hits a new 52 week high : $132
COINXBT:SS also hit ATH: 31.16 SEK

I love it:

[doublepost=1466098847][/doublepost]Fiat boys just piling in

 

[bluemoon]

Is this remotely credible?

http://8btc.com/thread-34762-1-1.html

If so that would be extremely interesting.

As an aside Google translate comes up with some gems, but fairly functional here. Some highlights: "Or ask to buy a roast cat stock is also OK". "I have Albatross ambition, rustic and tortoise with pool."

It sounds as credible as anything else in this topsy turvy world.

I found this a bit more intelligible:

https://www.reddit.com/r/btc/comments/4oe6am/right_now_the_hottest_thread_in_chinese_forum/

 

[bitsko]

Is this remotely credible?

http://8btc.com/thread-34762-1-1.html

If so that would be extremely interesting.

As an aside Google translate comes up with some gems, but fairly functional here. Some highlights: "Or ask to buy a roast cat stock is also OK". "I have Albatross ambition, rustic and tortoise with pool."

@albin, I tried to make sense of that at all, but I havent. What are they talking about?

 

[freetrader]

Fiat boys just piling in

How dare they spam the network with their filthy lucre!

 

[bitsko]

Nvm. Thanks @bluemoon

 

[AdrianX]

So you can pay a higher fee, or wait for an unknown length of time, possibly forever, or forgo the transaction. It is not the time to restructure your wallets. Hopefully, this farce soon ends with a large block fork.

Well there is RBF and its been implemented to solve just this problem. So from my perspective Core developers are aware of the issue and have not yet adjusted course it's full steam ahead.

 

[albin]

@bitsko

What I'm getting from it is that the op is alleging that a large amount of Chinese mining power is heavily in debt and intentionally trying to stall increasing tx capacity in order to make a windfall shorting the price.

It's very similar to the idea behind the so-called "kamikaze attack" that was discussed on the Epicenter Bitcoin podcast a while back.

 

[Inca]

Ashamed to say I have taken some profit here and reduced my bitcoin and eth holdings by a bit. Hopefully to buy in lower.

If there was ever a stronger moon indicator than me selling some bitcoin I haven't encountered it yet!

 

[AdrianX]

I am a bit afraid of the moment when dark markets start accepting Ethereum...

I'm not invested in ETH at all and am looking forward to the moment you mention, at lease the firs decentralized autonomous code that runs something on the dark net. We'll see very quickly how decentralized Etherium is. (it'll be a trigger like the Silk road announcement was for Bitcoin)

the bottom line is if criminals* can't use it as money it's not a good money.

*a criminal being someone who doesn't seek a centralized authorities approval to validate their user case for money.
[doublepost=1466101273][/doublepost]

DanV apparently still believes that we are going to explore a new low in the double-digits purely from his specific interpretation of the waves. A wake-up call is one thing, but I'm not sure how we would survive that!

maybe he's buying bitcoin like professor Bitcoin did just to hedge if he's wrong.

 

[bluemoon]

It is bizarre.

The right thing to do seems so obvious that I can't help wondering what hidden force is at work.

But maybe there isn't one. Maybe what we see is all there is?

So the hidden force is maybe that a large fraction of the miners borrow bitcoin to finance their businesses and rely on suppressing the price to be viable.

It is not only the borrowers who have a vested interest in crippling bitcoin, but those who sell equipment to them, the lenders of the bitcoin, and the financiers of the chip manufacturers.

If this is the reality, is Core the miners' puppet or do they have their own game?

Are all the miners compromised?

Is the miners' (weak) demand that Core code a 2MB HF just part of the pretence?

 

[AdrianX]

@albin, I tried to make sense of that at all, but I havent. What are they talking about?

@bluemoon posted a link, it looks like google translate works differently for everybody the r/btc link had a better translation than my Chrome translate.

https://www.reddit.com/r/btc/comments/4oe6am/right_now_the_hottest_thread_in_chinese_forum/
https://www.reddit.com/r/btc/comments/4oe6am/right_now_the_hottest_thread_in_chinese_forum/
this gives me Butterflies .

 

[cypherdoc]

For years I've said that most people investing in cryptocurrencies are going to lose money. This includes especially those skeptical of Bitcoin. The deflationary nature of the fixed supply simply tramples all over those who don't believe or who don't understand what's going on. That includes miners shorting bitcoin. I would still find it highly amusing if Blockstream was found to be caught shorting bitcoin due to an unfounded confidence that kore dev could cripple Bitcoin. One can hope.

So the hidden force is maybe that a large fraction of the miners borrow bitcoin to finance their businesses and rely on suppressing the price to be viable.

It is not only the borrowers who have a vested interest in crippling bitcoin, but those who sell equipment to them, the lenders of the bitcoin, and the financiers of the chip manufacturers.

If this is the reality, is Core the miners' puppet or do they have their own game?

Are all the miners compromised?

Is the miners' (weak) demand that Core code a 2MB HF just part of the pretence?

 

[theZerg]

That miner conspiracy theory doesn't make sense to me, but you could imagine something similar like miners taking out loans secured by the bitcoins their existing miners would produce. Buy miners with the loaned $ and repeat. So they would end up highly leveraged. However, a rising Bitcoin price would be a good thing.

A rising hash rate would be a problem though... but the argument (at this point) that a rising price will create even more of a rising hash rate seems specious given the halving and how much the hash rate rose when the price was stable/falling last 2 years.

 

[freetrader]

@AdrianX :

*a criminal being someone who doesn't seek a centralized authorities approval to validate their user case for money.

I see Bitcoin as one of the few unpredictable "last tickets" that our civilization has to stem a very dark future, planned and executed by those who fervently seek to control.

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