Gold collapsing. Bitcoin UP.
- Thread starter cypherdoc
- Start date
Bagatell
Active Member
- Aug 28, 2015
- 728
- 1,191
pekatete
Active Member
ViaBTC founder and CEO Haipo Yang stated:
Woot woot!
https://www.cryptocoinsnews.com/viabtc-calls-bitcoin-hardfork/
Woot woot!
_mr_e
Active Member
- Aug 28, 2015
- 159
- 266
I cannot believe it! You guys actually listened. After all the hours of posting about unecessarily locking in exactly 25% miner opposition and being insulted again and again, my comments finally paid off!!
Source: https://medium.com/@ViaBTC/miner-guide-how-to-safely-hard-fork-to-bitcoin-unlimited-8ac1570dc1a8#.6qxrqmtz3ViaBTC said:
Thank you! You removed the BIP109 flag and finally changed it from a 75% activation threshold to at least 75%.
Now please can you finally at least think about removing Core's massive asymmetric advantage by removing their ability to orphan your whole chain? (while you don't have the ability to orphan Core' s chain). Once you do this you might be on to something...
Step by step you are making the fork safer. To repeat again, I know most of you do not agree with or appreciate the risks, but there is no disadvantage to making it safer.
Last edited:
@jonny1000 i noticed you never like comments here, why is that? I've also read a lot of your comments elsewhere they seem a lot more hostile towards Bitcoin in general.
pekatete
Active Member
I know I have not been smoking anything, so why do I feel like I've just seen a ghost?
_mr_e
Active Member
- Aug 28, 2015
- 159
- 266
Man wtf are you smoking. It was NEVER exactly 25%. You've been told this so many times. Either you really enjoy the grass or you have a memory of a goldfish.
Here is an idea I haven't seed so condensed before I think it is relevant to the fundamental tenet of this thread:
Is the idea of a settlement layer a relic from the post gold era?
After all the concept of a settlements layer is a fundamental principal of fractional reserve banking and a key component for fiat as money - where as using bitcoin for sentimental implies direct sentimental in the absence of a 3rd party.
A sentimental layer implies some form of credit (other than that of the credit granted in the commercial transaction) to be settled at a later date independently and unrelated to the credit in former commercial transaction.
It's like a settlement layer distorts trust and introduces more risk in an economy.
This begs the question, do we want to enable new user cases in bitcoin that facilitate bitcoin substitutes?
is malleability relay a bug or is it a feature?
Is the idea of a settlement layer a relic from the post gold era?
After all the concept of a settlements layer is a fundamental principal of fractional reserve banking and a key component for fiat as money - where as using bitcoin for sentimental implies direct sentimental in the absence of a 3rd party.
A sentimental layer implies some form of credit (other than that of the credit granted in the commercial transaction) to be settled at a later date independently and unrelated to the credit in former commercial transaction.
It's like a settlement layer distorts trust and introduces more risk in an economy.
This begs the question, do we want to enable new user cases in bitcoin that facilitate bitcoin substitutes?
is malleability relay a bug or is it a feature?
Last edited:
- Dec 16, 2015
- 2,806
- 6,088
@jonny1000 :
This is from the IsSuperMajority() function and unchanged since Gavin committed it on 28 June 2012.
I'm happy to see you so happy when someone writes '≥' in a blog post, versus what is written in the code:
Code:
return (nFound >= nRequired);It's not a relic, it's an attack.
The transformation of gold from a currency into a settlement token is how its monetary properties were undermined and eventually destroyed.
The attempts to turn Bitcoin into "digital gold" are designed to undermine Bitcoin's monetary properties in to an identical degree.
Roger_Murdock
Active Member
- Dec 17, 2015
- 223
- 1,453
@AdrianX I think there's always going to be a balance between the greater security (but greater expense) of money proper (i.e., in the case of Bitcoin, "on-chain transactions") and the reduced expense (but reduced security) of various money substitutes (e.g., changetip). What's crazy is the idea that it's desirable to artificially and deliberately increase the friction / expense associated with the money proper in order to skew that balance in the direction of money substitutes. It's sort of cargo cult thinking: "hey, gold's a pain in the ass to transact with directly. Let's try to recreate that in Bitcoin." When, of course, Bitcoin's entire value proposition is that it provides the reliable scarcity of gold without the same transactional inefficiency. Furthermore, gold's transactional inefficiency was its fatal flaw and what allowed it to be successfully demonetized by fiat. So yeah, not a great model to emulate.
@AdrianX, @Roger_Murdock , @Justus Ranvier : Thanks for some insightful and interesting new ideas regarding the settlement layer and how it compares to the role of gold. Didn't think about it in this way yet!
albin
Active Member
- Nov 8, 2015
- 931
- 4,008
The monetary accomplishment that Bitcoin produced was that the settlement is the transaction itself, and over communications channels.
By "transaction" too, I mean the process and not the specific data structure, because that semantic equivocation is how people get away with propaganda like "Lightning is just Bitcoin transactions" as though that's actually meaningful in the way they imply.
I think maybe we need different words, because the Bitcoin transaction i.e. the data structure in and of itself is an IOU, it's a form of digitally-signed promissory note, but the Bitcoin transaction i.e. the process of submitting to the network and gaining confirmation is physical delivery.
By "transaction" too, I mean the process and not the specific data structure, because that semantic equivocation is how people get away with propaganda like "Lightning is just Bitcoin transactions" as though that's actually meaningful in the way they imply.
I think maybe we need different words, because the Bitcoin transaction i.e. the data structure in and of itself is an IOU, it's a form of digitally-signed promissory note, but the Bitcoin transaction i.e. the process of submitting to the network and gaining confirmation is physical delivery.
Last edited:
lunar
Well-Known Member
- Aug 28, 2015
- 1,001
- 4,290
The whole 'settlement' line was just toxic word play from the beginning. Its incredible these things take so long to debunk and have a habit of coming back like a foul smell. Bitcoin IS and always has been a final settlement layer.
Once you cut through the BS, all anyone who uses this line really means is.
'We want to dictate the price of an on chain transaction' Muwaahh haaah haaaah.... we own you.
The minute you accept these terms you have willingly given up everything that was free about free market money.
Once you cut through the BS, all anyone who uses this line really means is.
'We want to dictate the price of an on chain transaction' Muwaahh haaah haaaah.... we own you.
The minute you accept these terms you have willingly given up everything that was free about free market money.
Bitcoin is cash that can be transacted over unlimited distances.
Its invention scares the shit out of anyone working in industries whose only reason for existing is the inability to conduct cash transactions except in person.
albin
Active Member
- Nov 8, 2015
- 931
- 4,008
Just one reason why Bitcoin is cool ... it provokes thi king about what is money, why do we have the financial system we have, what would be a better system etc etc.
I like this reply. Put it in historical context it was arguably a timely and necessary attack, it shifted power away from the fudalists and brought us out of the dark ages.
Today we are liberating ourselves from a modern form of surfdom, financial repression, and bitcoin is the catalyst. The good news is the same attack is know known and is unlikely to work again.
Norway
Well-Known Member
- Sep 29, 2015
- 2,424
- 6,410
Moving off the grid. Becoming a norwegian redneck and a dooms day prepper 
Sold my two room box appartment 8.th floor good view in Oslo city. Bought this place in the norwegian woods today:
http://m.finn.no/realestate/leisuresale/ad.html?finnkode=70911987
Plenty of space. Maybe I can arrange a BU party there sometime in the future? (Ok, it's not Necker Island. But if you guys come, I'm sure Richard the Virgin will appear too.)
(Yes, drinking cognac right now.)
I'll run a tiny one man factory from that property, making my crazy carbon fibre portable snow cave invention constructions (not joking!)
Btw. Nailed a meeting today with the bureaucratic expert in the national bank of Norway about bail-in rules for banks. About his reasearch:
"Financial stability, more specifically bank behaviour, both empirical and theoretical. His research focuses on (i) banks' risk taking in competitive credit markets and market discipline, (ii) corporate governance in banking, (iii) economies of scale in banking, (iii) switching costs in credit markets, and (iv) the Norwegian banking crisis."
He agreed to meet me, and I seriously want to know what the f*ck is going on regarding the implementation of these insane rules in Norway. The bail-in rules was implemented the 1.st of january this year for EU. But they are not implemented in Norway yet (because we have a kind of 50% EU membership).
And maybe I should explain shortly what these rules are about: If a private company that happens to be a bank has head wind, they have the right to steal from the depositors.
Check out this music video about the subjeckt of bail-in in Cyprus:
Peace out, cocksuckers! I love you!
Sold my two room box appartment 8.th floor good view in Oslo city. Bought this place in the norwegian woods today:
http://m.finn.no/realestate/leisuresale/ad.html?finnkode=70911987
Plenty of space. Maybe I can arrange a BU party there sometime in the future? (Ok, it's not Necker Island. But if you guys come, I'm sure Richard the Virgin will appear too.)
(Yes, drinking cognac right now.)
I'll run a tiny one man factory from that property, making my crazy carbon fibre portable snow cave invention constructions (not joking!)
Btw. Nailed a meeting today with the bureaucratic expert in the national bank of Norway about bail-in rules for banks. About his reasearch:
"Financial stability, more specifically bank behaviour, both empirical and theoretical. His research focuses on (i) banks' risk taking in competitive credit markets and market discipline, (ii) corporate governance in banking, (iii) economies of scale in banking, (iii) switching costs in credit markets, and (iv) the Norwegian banking crisis."
He agreed to meet me, and I seriously want to know what the f*ck is going on regarding the implementation of these insane rules in Norway. The bail-in rules was implemented the 1.st of january this year for EU. But they are not implemented in Norway yet (because we have a kind of 50% EU membership).
And maybe I should explain shortly what these rules are about: If a private company that happens to be a bank has head wind, they have the right to steal from the depositors.
Check out this music video about the subjeckt of bail-in in Cyprus:
Peace out, cocksuckers! I love you!