Gold collapsing. Bitcoin UP.

cliff

Active Member
Dec 15, 2015
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RE: ^ post cypherdoc quoted from reddit

Eventually, reddit bitcoin fora will be so limited people will just start coming here. Then, we can solve the world's problems real time and not have to keep digging up solutions we issued weeks or months ago. :cool:
 
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cypherdoc

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Aug 26, 2015
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@cypherdoc - yes, same. BCT profile had a BTC addy and gpg fingerprint. Google searching the fingerprint leads here:

https://keys.niif.hu/pks/lookup?op=vindex&fingerprint=on&search=0xC5242A1AB3936517
now that's interesting. 2012 from BCT was one of my earliest nemeses back in 2011 when arguing about Bitcoin's future. he has always been decidedly bearish on Bitcoin from the beginning. he never thought it could work. also interestingly, altho quite technically knowledgeable, he was also shunned/dismissed from kore dev back then. every technical idea he came up with was smacked down by a kore dev. he never seemed to be in touch with reality, let alone the game theory and economics behind Bitcoin. he actually threatened to come after me and hack my coin away once. which actually turned out to be a good thing as it made me study Bitcoin security meticulously to protect myself from what turns out to be a truckload of unscrupulous ppl in Bitcoin. thx for that 2012.
 

cypherdoc

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since Blockstream and it's kore devs have now essentially stated that Bitcoin cannot work, maybe this is why they now welcome with open arms someone like the infamous 2012 from back in the old days.
 

AdrianX

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Aug 28, 2015
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@awemany:

Your recent interactions with midmagic/mignightmagic match my own. For example, I was chatting about scaling in bitcoin-wizards when he randomly comes online and writes this out of left field:



I've also noticed that you-know-who quits bitcoin-wizards every time I come on.
@Peter R some one just threw a bat at you, how low can the smallblockest go to protect their narrative?

By the way is he referring to this image that describes the resistance to the block limit diminishing, it's a sound and practical illustration of how resistance will be overcome. I'm thinking he referring to the image that has a stick figure trying to enforce the 1MB limit that gets pushed to the right once pressure to increase the block size has built up?


looks like midnightmagic needs to quit, he unbelievably has equated a stick figure enforcing a block limit as a "provocation" "where people are crushed to death" as "insulting and belittling" and the fact that "people are using your comments as weapons" as physically dangerous.

LOL I can only assumes the truth is so dangerous it needs to be censored (self censored by request) and shining light on ignorant assumptions is crushing to their egos.
 
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VeritasSapere

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Nov 16, 2015
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This really underscores the motivation behind undoing TheDAO: the Ethereum community doesn't want to admit that smart contracts (transaction machines) have much more limited scope of usefulness that was envisioned, so they are between a rock and a hard place. They have to either

(a) double down on their position that transaction machines have broad utility by turning them into Care Bear contracts sometimes arbitrated by a community court of miners/stakers - a radical redesign that should take a year or more to implement and doesn't seem very promising - or

(b) abandon their position that transaction machines have broad utility and accept a much lower market cap commensurate with such a limited system.
These type of smart contracts are more limited in scope then some people have envisioned, this is true. However, I do not think that means it should have a lower market cap, most cryptocurrencies have far greater potential speculative value compared to their present evaluations.

I also think you are underestimating how much more difficult these type of arbitrations by the miners/stakers will become as time passes. In the future it will become far more difficult for such an action to be taken and for “consensus” to be found.
Fortunately for Bitcoin, there is no real competition, and it seems to me that a PoW fork as a last resort can erase every last BS machination. BS's $76 million can buy a lot of tendrils, but we are already seeing them have to play catchup to other teams such as BU. Ethereum's downfall took some pressure off as it's now clear there is no substantial competition from altcoins at this time.
I think that you are wrong in thinking that Bitcoin has no competition, even a clone of Bitcoin with an increase blocksize is competitive to Bitcoin, just not competitive to the alternative cryptocurrencies, which is why most of the successful alternatives have very innovative and different designs when compared to Bitcoin.

That was a great post by the way, the post from which I took this last quote. I did agree with the majority of its content. :)
 
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cypherdoc

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Aug 26, 2015
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@AdrianX

looks like midnightmagic needs to quit, he unbelievably has equated a stick figure enforcing a block limit a "provocation" "where people are crushed to death" as "insulting and belittling" and "people are your comments as weapons"

oh come on. you're being way too lenient with him. i've heard him and nullc characterize trivial shit like that as "death threats" simply to gain sympathy on reddit and draw out fake outrage against big blockists. it's gotta be intentional trolling b/c i refuse to believe idiots like that can be so self aggrandizing. or maybe so.
 

AdrianX

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Aug 28, 2015
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@cypherdoc It was an April Fool's day joke.
apparently one that's still going - the document is dated April 5th, maybe midnightmagic should intervene.
[doublepost=1467143356][/doublepost]
Brilliant article by Roger Ver. I'd quote some but it's honestly best to have a read. Such a sensible and sound understanding of economics is rarely is ever displayed from the cryptographers within the BScore camp.


'There is nothing advantageous to artificially limiting the block size. It will simply cause potential Bitcoin users to use something else. It's time to let the cryptographers do cryptography, while the economists consider the economics.'
the real magic trick being plaid here is BS/Core are trying to get people to use something else (LN), while at the same time trying to convince everyone that the "Something Else" (LN) is actually Bitcoin.

I'll qualify "something else" is anything that's not a bitcoin transaction defined as a transaction that is written to the bitcoin public ledger - and stored with proof on the public bitcoin blockchain.

for the record I'm not opposed to people using "something else", LN has its advantages, but its not bitcoin and the BS/Core developers have no business changing the Bitcoin incentive scheme to make "something else" viable.
 
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cypherdoc

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Aug 26, 2015
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Richy_T

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Dec 27, 2015
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We haven’t actually fixed the O(n²) signature hashing problem yet, although we’re fairly confident that we can
Famous last words.

It's like these guys have zero experience working in real-world IT at all. You just *don't* make promises about uncharted territory and you certainly don't hang a 10 billion dollar industry on it.

Anyway, can't stand here chatting. Have to finish up my time machine. It's not working yet but I'm fairly confident I'll have it working soon.
 

cypherdoc

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Aug 26, 2015
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Lol, that's great
 
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cypherdoc

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Can't stop chuckling ;)
 
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cypherdoc

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This one really made me laugh:

 
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cliff

Active Member
Dec 15, 2015
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its like jesus standing in front of touchdown jesus (UND Lib - South Bend, IN; nice campus, btw - priests in training will drink you under the table . . . and are good at quarters IIRC)