Gold collapsing. Bitcoin UP.

cypherdoc

Well-Known Member
Aug 26, 2015
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12,994
It is weird. Iirc, the price is up around 50% since they declared bankruptcy. I can't help but wonder if they made a mistake pulling the plug so fast.
 

pekatete

Active Member
Jun 1, 2016
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368
London, England
icreateofx.com
Possibly the liquidator is trying to run the entity as a going concern for as long as practicable, bearing in mind the price appreciation since filing, and the further anticipated price rise post halving. Also, bear in mind that leading up to the halving, ASIC prices were trending lower so again the liquidator may be thinking about realising the best value from the assets post halving when ASIC prices may firm up a bit compared to the pre-halving trend. Just a maybe ....
 

cypherdoc

Well-Known Member
Aug 26, 2015
5,257
12,994
I don't think liquidators are allowed to speculate like that with the remaining trustee assets. Having just gone through a similar process myself.
 
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cypherdoc

Well-Known Member
Aug 26, 2015
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That sounds more plausible.
 
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taxed4ever

New Member
May 31, 2016
20
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@Jihan if this is true? Why is it important that only small block proponents meet with miners. Why not insight that the meeting be postponed and attended my those who have presented evidence to support large blocks.
No amount of lobbying is going to fix Blockstreams problem and or plan!

I do encourage everyone to travel to the meet-up if possible. Jihan is a good guy, as are the people he associates with.

If anything, I would expect him to tell Core that their plan is not viable for Bitcoin.

What developers want and how they see things, is not the same as what the market demands. Why try and reinvent the wheel?
 

cypherdoc

Well-Known Member
Aug 26, 2015
5,257
12,994
it's pretty simple really.

kore dev doesn't understand the principles behind Sound Money. thus, they can't understand or support Satoshi's original vision for Bitcoin which was to serve as a p2p ecash for people's worldwide. i bet it terrifies them to buy the actual coin, let alone hodl it, which is why we've heard them admit that they've sold; like Peter Todd. or think that it would never work period, like Maxwell and Back. we also know that Back never got in until mid 2013 at the top of the last price bubble of 1200. i'm sure not one of them has owned an ounce of gold or silver in the past either. as a result, i'm sure they've been shocked to see the price rise to the degree it has and have feelings of being left out and certainly believe that it can't go even higher.

thus, they decide to sell their souls to fiat investment and start a for profit company with an entirely different strategy; siphon away miner tx fees thru offchain proprietary products like first SC's and now LN hubs. they want to make money by becoming just another version of today's banks; as middlemen. every hop/node in a p2p LN is free to charge fees and they will. altho many of us think that what will actually happen is that the more well capitalized entities, like exchanges, will act as major LN hubs and use their reserves to facilitate routing and cheaper fees. but the goal and effect is the same; strangle/cripple the mainchain to divert tx's to these offchain layers so they can profit.

this korerupted strategy amounts to a disenfranchisement to early adopters who have been proven right for hodling since the early days. if kore dev is successful, any price rise will be choked off and i'm sure they won't care since their goal is to be middlemen and charge fees. with a crippled blocksize, less users/speculators can join the system to provide the liquidity and volume to force coin values to rise. the higher fees and delays that result from choked mempools cause new and existing users to leave for altcoins; or leave altogether. we've seen this at the individual level and the institutional level (the so called Fidelity Effect). kore's hope is that these ppl use LN instead so that they act as middlemen and can charge fees. nevermind that this will hurt miners. this won't happen b/c the real reason ppl seek out a solution like Bitcoin is b/c of it's fixed supply and SOV properties. we now know this b/c after 7.5 yrs, the price bucket of the Bitcoin economy has clearly won the appreciation race. ppl seek to own coin as a safe haven from events like Brexit and worldwide currency devaluations and negative interest rates. remember that the absolute largest market on Earth is that of the Forex resulting from unfettered money printing by rotating central banks. we want to tap that. we just saw Japan go to negative interest rates from excessive yen printing to by JGB's. this will only continue apace since they have no choice but to prop up the debt bubbles they've all created. what a great opportunity for Bitcoin to take advantage of it's sound money properties. if only we had room in blocks to attract more users/speculators to enhance liquidity and force the price higher. Blockstream needs to get out of the way. if only they understood sound money, bought the coin, and unblocked the stream.
 
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Zarathustra

Well-Known Member
Aug 28, 2015
1,439
3,797
Would Germany bail out a wrecked DB? What would happen to the Euro if they did?
Of course they will bailout them, and nothing much will happen. The world market trusts the Euro, the Dollar and Yen more than the Brexit Pound and the BRICS junk. The market is about credit/trust, and those markets still enjoy the most credit and trust.
[doublepost=1468127594][/doublepost]
No amount of lobbying is going to fix Blockstreams problem and or plan!

I do encourage everyone to travel to the meet-up if possible. Jihan is a good guy, as are the people he associates with.

If anything, I would expect him to tell Core that their plan is not viable for Bitcoin.

What developers want and how they see things, is not the same as what the market demands. Why try and reinvent the wheel?
I'm not convinced. Good guys don't collaborate with the Blockstream gang.
 

Zarathustra

Well-Known Member
Aug 28, 2015
1,439
3,797
(Edited)
I disagree. The bolivar is money as long as there is underlying credit. As soon as the Organized Violence loses trust/credit, they are unable to create money, which is credit. Commodities (grains, metals, physical or digital coins) are not money. Money is not a thing. Those things are mediums of exchange with whom you can pay back credit/debt, which is the one and only money, a credit relation, booked as an obligation and an asset at the same time (receivables and payables).

The more (existing) property is ceded by the state to the private sector or can be created as income after cession to the private sector in the private (non-state) sector the longer the process called “creation of wealth” (recte: later income or property) can endure, because the more power-sustaining taxes can be imposed.

Nonetheless the breakdown of all property-systems is inevitable. This we actually can study watching the exploding indebtedness of “democratic” powers. The problem of state power vs. private economic activities is per definitionem unsolvable. Wealth creating inevitably sooner or later leads to wealth destruction. This explains “rise and fall” of any power-or state-based system throughout history.
Dr. Paul C. Martin


I asked if someone could translate this post into a proper English:

http://www.dasgelbeforum.net/forum_entry.php?id=194691
[doublepost=1468044536,1468043672][/doublepost]

S&P500 at record high. I told you so 6 months ago ...

https://bitco.in/forum/threads/gold-collapsing-bitcoin-up.16/page-246#post-9306
@Erdogan

@tar's legendary post is translated now.
It's the best summary of Dr. Paul C. Martin's 'Debitism' I've ever read.

http://www.dasgelbeforum.net/forum_entry.php?id=407690
 
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awemany

Well-Known Member
Aug 19, 2015
1,387
5,054
@Jihan: So with the rumors of another meeting between Blockstream and you miners popping up, I think I speak for most in this community when I say:

a) You know how the saying goes: "Fool me once, shame on you. Fool me twice, shame on me".

b) We're convinced that nothing good comes out of a monocultural (mis-)representation of the community. Try hard to include well known, big block-aligned people in the palm-stacking procedure this time.
[doublepost=1468136993][/doublepost]
@Jihan has been promised a hundred fold fee increase at the meeting with the dipshits. And then he signed it. Sad but true.
How do you know? Is this a rumor or is there some data on this?
 

cypherdoc

Well-Known Member
Aug 26, 2015
5,257
12,994

freetrader

Moderator
Staff member
Dec 16, 2015
2,806
6,088
@cypherdoc:
How ridiculous. That guy Pindar is a small blockist and attention whore.
I think I can feel your blood pressure across the Intertubes. To calm you down (hopefully) and cheer you up, I found this proposal from Jorge Stolfi which I would like to put up here for criticism.
The 2nd paragraph tripped me up, but I found reading on very worthwhile.