Gold collapsing. Bitcoin UP.

[freetrader]

Who has miners gathering dust and would be willing to turn them on and point them at our bitcoin spinoff? #MineBitcoinAgain

This is a just a survey - not an announcement of impending tests or active fork mining... but please let us know so that we can get an idea of how much % of hashrate might back a SHA256 fork attempt.

We've been discussing what kind of hashing power we can gather just from old ASIC miners that have been turned off because they are no longer profitable.

We'd like to see how much hashing power you have if you would be willing to point it at a bitcoin spinoff. Please post on here OR twitter to let us know so that we can tally it up.

We don't expect to get everyone involved at this early stage and most forum users are lurkers anyway but it might be interesting to see.

Spread the word on twitter with the handle #MineBitcoinAgain.

 

[Richy_T]

I have 1T I'd switch over just on principle.

 

[Norway]

But,
interest rates are negative because of
1) capital flight from territories whithout credit
2) creation of additional credit (money) is too slow

I think they are negative because the richest people can't pay back their debt. And I think the end game is hyper inflation. Because it allways is.
[doublepost=1470763398][/doublepost]

That's not so much the weakness of debate but the way debate has been neutered in the media. When interviewing a politician, the interviewer will ask a question and if it is not answered, they will move on (with a couple of notable exceptions). Typically the questions will have been presented and prepared for beforehand in any case. And don't even get me started on the US presidential "debates". Putting a bunch of people up on stage, firing questions at them and allowing them to speechify back is not a debate. Put these clowns around a table for three hours with an unlimited supply of coffee and alcoholic beverages and two or three broad topics of discussion and let's see what comes out.

I agree that journalists could do a better job.
[doublepost=1470763658][/doublepost]BTW, Greg + Midmagic got me kicked out of reddit. They must have spent quite some time to do it. I take it as a sign that I'm on the right track. And I just create a new account

 

[pekatete]

BTW, Greg + Midmagic got me kicked out of reddit. They must have spent quite some time to do it. I take it as a sign that I'm on the right track. And I just create a new account

Hehe! So they lured you into a trap .... I bet by the time he sent you a PM he'd worked out what obscure rule you were breaking and just wanted you to respond as proof that you are actually trolling him. The nincompoops couldn't possibly fathom you can easily open another account ...... don't forget to connect through proxies now you are a marked man!

 

[sickpig]

I have 1T I'd switch over just on principle.

ditto.

but why a-same-PoW spinoff ?

 

[cliff]

-------------------------------------
Gold collapsing. Bitcoin UP!
-------------------------------------
BTC | XAU (spot) | COMEX CG1
~$584 | $1340.66 | $1347.2
-------------------------------------
GBTC | SPDR Gold Trust ETF
$92 | $127.95
-------------------------------------
10YR Treas| Copper | Crude (WTI)
1.59 | $214.85/lb| $42.62/barrel
-------------------------------------

NEWS + COMMENTARY

# btc general

• Bitfinex commentary from IK
  
  • “The ironies will surely not go unnoticed. But, if this affair really proves anything it’s that bitcoin is akin to a giant ‘alternate reality game’ MBA course for people who failed to learn anything about finance in their standard educational path, perhaps because they were overly focusing on tech or coding skills, or playing actual AR games? Who knows. Problem is these same people still wanted to reengineer finance as if they knew the system better than the stuffy authoritative types who had done the classes and teach them a lesson about the drudgery and dullness of book learning in the process. It’s the stuff of teenage temper tantrum rebellion movies. Really.”
• Aussies to regulate cryptocurrencies as part of anti-terrorism measures
• Blockchain-based social welfare payments?

# btc intersections

• Oracle MICROS - POS hack
• All GE Employees will learn to Code
• Argentina making it easier for USD to be acquired
• More on Oil supply glut and prices
  • Foreign workers stranded in Saudi Arabia due to oil price collapse

-------------------------------------

OTHER

• A generation lost in the Bazaar
• [Various tweets from last 24hrs] https://twitter.com/RonJeffries (this guy is awesome, he’s been on my dark-horse list of Satoshi candidates for a few months)
• On Android exploits
• Interesting example of crowd-based guerrilla campaigns and tactics
• Necker Island Treasure hunt
• Did you know Ripple has branded itself as the Global Settlement Network?
  
  • I like Ripple, check out some recent happenings here:
    • SEPA in the age of real-time payments
    • Cross-border payment work
    • [Whitepaper] New paper on distributed ledgers in corporate banking

-------------------------------------

PM TRIBUTE

--------------------------------------
EDIT - Any topic areas/prices you'd you like to see more or less of w/ these posts? Formatting feedback/suggestions/criticisms?

 

[Christoph Bergmann]

@Christoph Bergmann

Interesting in what sense?

• easily, demonstrably false / incorrect? Yes
• cheap politicizing of issues? Yes
  
• highly probable instances of censorship on behalf of the transcriber? Yes
• incomprehensible gibberish? Yes

If your interest is in any of those, I can provide quotes.
Otherwise let me know what you mean more precisely.

The problems are two-fold: firstly, while we can certainly guess, with high accuracy, who might have said something, we can't prove it because they censored that information (mostly).

So it might as well have been anonymous Google employees for all intents and purposes. You can't hold anyone to account even if the information presented is blatantly false, or clearly divide-and-conquer politicking etc.

The other problem is the incompleteness of the picture. Almost certainly there are bits missing, which is totally unnecessary in this day and age of recording equipment never mind there are surveillance systems which can accurately identify and pick out individual speakers from crowd conversations.

Or you know, just hire some professionals to do a proper job of taking down notes.

The big issue is how this spits in our faces even just from the way it was done.

Do you think the Chinese got a Chinese translation of the transcript? Where's that published?

- I like them all. Demonstrably calse, policizing of issues, censorshop, gibberish - yes. Give me quotes

Yes, proplem is, we don't know, who said what, but if we can say, what has been said, we can proof something, more subjectively than objectively, more in he gut than in the brain, but, yeah, it's something.

What did google employees do on the event? Does anybody know anything about this? It's such a black box of information, it's ridiculous to have this in 21th century.

And no comment from the miners. We are left in the dark.

 

[freetrader]

>censorshop

That seems to describe Blockstream / Core well enough!

For that eggcorn, I will make an effort to dig out the examples.
Give me some time though.

---

This is the perfect opportunity to invent our own little markup language.
Feel free to improve it or use it to contribute to analysis of the document beyond the trivial examples that I might produce.

• <false> some text </false> - false
  something can be refuted with evidence (which shall be presented)
  
  
• <polit> some text </polit> - politicizing
  must fall clearly into Wikipedia's political strategies definitions
  
  
• <censor:{possible candidate words}> ... </censor> - censorship by means of ellipsis (...)
  speculative, deniable of course by the transcriber.
  Subject to possible future revelation by actual recordings
  
  
• <gib> some text </gib> - gibberish
  subject to personal interpretation, but unintelligible to myself
  might also be another form of censorship, but more likely transcription inadequacy

I might also use <likely:{speaker names}> some text </likely> to mark around sections where I think I know who said something, if it's relevant to context.

 

[Dusty]

Seagate is preparing a 60TB SSD drive, hitting the market next year:
https://www.engadget.com/2016/08/09/seagate-60tb-ssd/

That's the demonstration that technology is totally unable to keep up with an increasing block size!

 

[Christoph Bergmann]

@Dustry: C'mon, the debate as NEVER been about HDD size. Never

 

[solex]

@Dusty
I have been skeptical about ETH because its blockchain is growing very fast with large txns and 15 sec blocks. However, this type of tech could vindicate their optimistic approach.

60 million 1MB Bitcoin blocks would take 1140 years to mine! How does this pass over the heads of the Coreblockers?

 

[Dusty]

@Dusty: C'mon, the debate as NEVER been about HDD size. Never

Of course mine was a kind of joke, but anyway while the debate was not only about that aspect, it was also about that (in one of his many ever-changing forms): "the moore's law is finishing, technology can't continue to progress fast enough to work out an exponential growth of the maximum block" etc etc.

 

[cliff]

-------------------------------------
Gold collapsing. Bitcoin UP!
-------------------------------------
BTC | XAU (spot) | COMEX CG1
~$598 | $1347.47 | $1353.6
-------------------------------------
GBTC | SPDR Gold Trust ETF
$92 | $128.65
-------------------------------------
10YR Treas| Copper | Crude (WTI)
1.59 | $219.2/lb| $43.17/barrel
-------------------------------------
NEWS + COMMENTARY

# btc general

• Bitfinex Update
  • Erik Voorhee’s take on Bitfinex’s tokenizing recovery strategy vs. bankruptcy
• Building The Bridge: Why Compliance Is Key To Digital Currency’s Success - B.Armstrong (Coinbase)
• J.Toomin on finding Miners for a spin-off chain
  • M.Long’s (3xploit) take
• Segregated Witness and aligning economic incentives with resource costs - A.Antonopolous
• [/r/Bitcoin thread] - ~What do you make of Bitfinex’s executive leadership apparent silence on the recent hack?

# btc intersections

• “Brexit makes the BoE look more like the ECB”
• One in four countries don’t notify the public about proposed new business regulations
• [IMF Audio] Currency and Power with Benjamin Cohen
  • Summary - “Monetary rivalry is a fact of life in the world economy, says Benjamin Cohen, professor of International Political Economy at the University of California and author of Currency Power:Understanding Monetary Rivalry. In this podcast, Cohen explains why currencies become internationalized, and examines the relationship between world currencies and State power.”
• [Rand Corporation E-Book] - Internet-facilitated drug trade (lots of cryptomarket data).

-------------------------------------
OTHER

• Africa’s urbanisation and structural transformation
• Medical arbitrage markets in everything

-------------------------------------
AM TRIBUTE

 

[cliff]

-------------------------------------
Gold collapsing. Bitcoin UP!
-------------------------------------
BTC | XAU (spot) | COMEX CG1
~$598 | $1347.55 | $1353.7
-------------------------------------
GBTC | SPDR Gold Trust ETF
$95 | $128.63
-------------------------------------
10YR Treas| Copper | Crude (WTI)
1.59 | $217.45/lb| $41.86/barrel
-------------------------------------
NEWS + COMMENTARY

# btc general

• u/btcdrak claims to have discovered an additional 32,000 btc belonging to Bitfinex
• BFX - money that grows on trees?
• My post from yesterday deserves a closer look in light of some stupidity and/or trolling making the rounds - California’s proposed digital currency law revisions likely would not require a license to run a full node - see exclusions from definition of a “Digital currency business” (e.g., #6)
• Powering 100,000,000+ transactions is impressive
• Roger Ver on the current state of decentralization in Bitcoinland
• BUIP proposal RE: sponsoring the Scaling Bitcoin conference in Milan

# btc intersections

• IFTTT looking to accentuate the smart home industry
• Greenland's EU exit suggests that Brexit will take longer than initially thought
• “Unseasonal . . . crude stockpiles” slowing oil price recovery
  • Saudi’s don’t care - pump that $h_t anyway - gotta compete w/ Iran
  • The Other oil chart

-------------------------------------
OTHER

• Possibly the world’s oldest artifact was just discovered - a gold bead (h/t Szabo who tweeted this story today, which allowed me to find it)
• Russian military hardware on the move in Crimea
• Philippines practically begging to have their U.S. ties severed
  • Exhibit 1 - Insults thrown at U.S. Ambassador
  • Exhibit 2 - President has a problem respecting women, likely would not bode well for Hillary
    • Almost all polls show Hillary beating Trump
      • Wikileaks is suggesting Hillary camp/DNC would do ‘stuff’ to win

-------------------------------------
PM TRIBUTE

 

[79b79aa8]

BTC derivatives exchange BitMex is launching a BFX_Token futures contract:

https://www.reddit.com/r/BitcoinMarkets/comments/4x3rl2/bitmex_launches_bfx_token_futures_contract_at_25x/

if there is trading of futures of finex's funny money, there surely will be a market for credible BTC_fork futures.

market testing via futures tells developers how much a proposed fork is being valued, prior to launch. ideally market response can orient configuration.

testing on the financial aspect of the fork is as useful as protocol / mining / network testing.

BTCFORKS take notice.

 

[Bagatell]

It's been a bumper day for new tokens. Solomon Islands Dollars anyone?

 

[agilewalker]

Roger Ver is on board with btcforks.
If the current group of Bitcoin miners are not interested in following Satoshi's vision in a timely manner, my initial thought would be to support the idea of this hard fork, and to use Bitcoin.com and my influence in the ecosystem to support it. I suspect many of the biggest Bitcoin businesses will instantly follow along as well.
https://forum.bitcoin.com/bitcoin-discussion/bitcoin-vs-paypal-a-fork-in-the-road-t9777.html

 

[freetrader]

Does this sound about right?

 

[jonny1000]

if there is trading of futures of finex's funny money, there surely will be a market for credible BTC_fork futures.

There are a lot of issues to work out with respect to creating this pre fork futures market. It may be useful if one of the “btcfork” advocates wrote a paper outlining potential solutions to some of these issues.


1. What are the fork dates and futures contract settlement dates?

2. What currency is the price of the future denominated in? (Is this existing Bitcoin, which may have some issues)

3. What asset is used as collateral in the futures contract? One would assume the requirement would be 100% collateral (no spot market mean no margin calls)? Traders supporting the more valuable coin will need to deposit more funds. (Is this existing Bitcoin, which may have some issues)

4. What is the settlement currency? (Is this existing Bitcoin, which may have some issues)

5. What if the fork fails or never occurs?

6. What is there are more than one forked chains?

7. What will the price source be post fork? How can a contract reference a price source that does not yet exist?

Most schemes seem to give an asymmetric advantage to traders commiting to sell "btcfork". If the fork fails the people who committed to sell the fork coins get a return. If the fork succeeds, only the buyers who committed to buy at a price below the spot price on execution make money.

I think these things can occur in the future, when there is better atomic trading and multi-signature technology. Such that a futures market like this can exists without counterparty risk.

 

[molecular]

hey guys, was on vacation. Any word from cypher?