Gold collapsing. Bitcoin UP.

[albin]

@Dusty

They could try to spin it that way, but that's inherently a circular argument in relation to the "layer-2 first" rationale.

 

[Richy_T]

I run a full indexing node and querying old TXs can be a very slow operation. To the degree that I just periodically run a cron job and pre-cache all queries that are likely to be useful.

However, I don't believe this to be related to the block size. Proper indexing would alleviate this. I don't think that's on Core's priority list but I think Iguana was supposed to do it as part of its basic design if I recall correctly.

 

[go1111111]

Paul Sztorc is back from his hiatus:
....
but he continues to breezily misunderstand hard forks and therefore dismiss them.

And another hard fork post from Paul: http://www.truthcoin.info/blog/against-the-hard-fork/

I'm actually pretty surprised that Paul isn't a market consensus supporter. His understanding of economics seems quite good, he's very pro-market, and overall really smart.

Both he and Greg seem hung up on this idea of an implicit agreement / violation of consent, though. I have a thread with him about it in the comments.

 

[Christoph Bergmann]

Yes, that hardforks break an existing contract is a weird assumption. It makes the distinction that you signed a different contract if you use Bitcoin with a Light-Wallet or with the client. The basic contract - the owner of the key can spent the coins on this address - should be independent of other properties of the software.

Peter R. recent post showed the distinction between consensus rules necessary for sound money and such not necessary.

But all in all, nice article by Paul

 

[freetrader]

https://ibsintelligence.com/ibs-journal/ibs-news/r3-corda-gets-online-savaging-from-bitcoin-core-developer/

No prizes for guessing...

In other news,

https://www.reddit.com/r/btc/comments/5gzszb/welcome_back_greg_maxwell/

 

[albin]

I'm pretty exhausted at this point with all the self-proclaimed Bitcoin thought leaders, inventing their own high-level abstract concepts, then pontificating by playing word games with those very concepts that they coined. I want something better out of this space than just your standard entry-level equivocation games.

Eventually this stuff ends up sounding like Batman's reasoning in the old school movie version of the tv show w/ Adam West. I.e., "they came by sea....'C'....for catwoman".

 

[sickpig]

TIL Circle is exiting bitcoin...

http://www.wsj.com/articles/bitcoin-powerhouse-will-pull-the-plug-on-bitcoin-1481104800

(sorry for the wjs paywall...)

relevant quote:

“The story is one of essentially gridlock amongst core developers, while mainstream companies are using this technology,” Mr. Allaire said of bitcoin. “We’ve been deeply frustrated with that lack of progress, and we want to move it forward.”

 

[Richy_T]

Yes, that hardforks break an existing contract is a weird assumption. It makes the distinction that you signed a different contract if you use Bitcoin with a Light-Wallet or with the client. The basic contract - the owner of the key can spent the coins on this address - should be independent of other properties of the software.

Peter R. recent post showed the distinction between consensus rules necessary for sound money and such not necessary.

But all in all, nice article by Paul

There is no contract, only incentives.

/matrixmeme.gif

Ah, may as well actually do it.

via Imgflip Meme Generator

 

[Zangelbert Bingledack]

Perhaps more pointedly: There is no contract, only market value.

The market (of holders/investors and other stakeholders) wouldn't take kindly to the side of a fork that messed with the money supply schedule or "private key owns the coins," but that says absolutely nothing about what non-monetary changes the market would value. It's a total fallacy to conflate these two - and not just an act of mis-speech, but an error that reveals a deep misunderstanding of how Bitcoin works.

 

[Christoph Bergmann]

Now it finally has become a tranch of the Praise Erdogan / Putin label

https://www.reddit.com/r/Bitcoin/comments/5h3aiw/a_must_thank_you_for_all_bitcoin_core_devs_you/

This is like a prayer:

So I said it's a MUST for me to write a thank you message for ALL Bitcoin Core devs and every dev who is going on the road-map set by the core devs.

Thank you for everything, starting with implementing Satoshi's vision in every possible way and making Bitcoin bigger and bigger and ending with making every satoshi I own having gigantic value as time run.
...
I promise, I will try my best to thank you whenever I can and to remind the people over here to thank you as well as this is the LEAST thing we could've make or say for you actually.

The answers are a brigade of "thank you".

Saw this in the morning, my day is gone. What a hole of shit.

 

[satoshis_sockpuppet]

@Christoph Bergmann
Didn't you also write the "ack ack ack" article about Milano? I have the feeling as if you aren't a big fan of yay-saying sheeple.

Shameless repost:
To be fair, the "thank you" post has just been upvoted to 68% and there are some critics..

 

[Christoph Bergmann]

haha, yeah! Nice picture!

The whole Bitcoin thing is like saying "No! Fuck You!" to the whole financial system. It's a shame that the same people being quick to say "fuck" you to the one king are as quick to fall on their knees to the next king. Maybe reality is too complex and ambiguous without a king. And the majority of people seem to be in an extreme need to have a simple and clear reality where they know what is right and wrong, who is king and who is asshole, and so on ...

 

[sickpig]

TIL India gov raided indians people homes in search of gold and jewelry

http://www.zerohedge.com/news/2016-12-07/india-confiscates-gold-even-jewelry-raids-hidden-money

 

[freetrader]

haha, yeah! Nice picture!

The whole Bitcoin thing is like saying "No! Fuck You!" to the whole financial system. [...]

The whole Internet thing is like saying "No! Fuck You!" to the whole mainstream media system

If you would say that's a ridiculous statement, then I would say so is saying that Bitcoin is all about saying FU to the financial system. Bitcoin (or perhaps more generally, cryptocurrency) is much more like an antidote for what's wrong with the financial system. As long as we use money (and cryptocurrency doesn't abolish that) there will be a financial system. It just won't be like the one today.

 

[freetrader]

@jonny1000 's trying his best to discredit BU, has no qualms to alter quotes by Satoshi:
/r/btc mod /u/mandrik0 rewards him by un-rate-limiting him on /r/btc:
And I suppose YRuafraid also deserves to be unbanned in /r/btc. "Done."

@jonny1000: when it comes to a vote about your membership, I'm sorry, I'm not going to vote for people who routinely demonstrate such intellectual dishonesty to join BU.
We'll be better off without you.

 

[Tomothy]

I saw Johnny's post along with Nullc's post in response to the discussion about faster transactions betwen viabtc and bitcoin with zander's discussion. Not being a technical person; it's tough to figure out where the poop starts and ends. I did notice that nullc failed to respond to the, 'which came first' question about flextrans & compact blocks. He seems to have given into the darkside, his anger consumes him. Regardless, core's sunday china meeting will be interesting, but it looks less likely that this schism will heal and I doubt segwit will ever activate as it currently stands.

 

[satoshis_sockpuppet]

@jonny1000: when it comes to a vote about your membership, I'm sorry, I'm not going to vote for people who routinely demonstrate such intellectual dishonesty to join BU.
We'll be better off without you.

I hope there is no question for anybody to vote "No" for his membership application. He is either a troll (with a lot of trolling stamina) or (close to) a mental retard.

I'm not a member of BU and don't want to be, so I don't have a saying which direction you'll take, but please don't start to "yes" every application. Be aware of the many bad apples and protect this great organization.

 

[adamstgbit]

I doubt segwit will ever activate as it currently stands.

I think your right...
the whole softfork and bullshit effective block, and there simply too much changes wrapped up in one package. And the idea that voting for this segwit feel like locking in the "LN is the future of bitcoin" and core will continue to dictate.... its a tough pill to swallow.

question is, will core adapte?

imo we're set to see some serious disruption in the dev space, solutions that give more freedom to nodes and miners is going to win, ultimately we'll begin to see what I have been waiting for for ages,

the decentralization of world domination!

 

[Zangelbert Bingledack]

Greg plays a little too close to textbook negotiation technique. He was so eager to tell us how nonchalant Core and BS are about Segwit that it revealed they are seriously hurting and their plans are in disarray. Investors are likely pulling out of Blockstream as this is the first sign that Core doesn't have a complete stranglehold on the ecosystem.

Actions speak louder than words: he is practically the most active poster on /r/btc since Segwit stalled, the other BS people seem almost under a gag order, they tried to give it a logo, they are turning up the propaganda about "blockers" and such, and the gildings in /r/Bitcoin for Segwit supporting posts complete with conspiracy theories are ramping up.

 

[Tomothy]

Thanks Zangelbert, I read that segwit post and when you posted it I read it again. There seems to be a disconnect between bitcoin envisioned by Core and Bitcoin envisioned by these other titans of industry and business people. Yes, I recognize by phrasing it as such I use loaded terminology. But, it isn't like these same people don't want scaling or want it to fail; all of their actions have all been towards having Bitcoin begin growing. If anything, Core just doesn't want to grow on a tangent different from their plan for Bitcoin. I'm sure some of you have seen these 8btc news postings, but they sure seem to be turning up the heat.

I still firmly believe that miners control the fate of bitcoin as they are the same entities that ensure it's security. If you are trying to implement something that lowers their revenue, you're going to have a bad time...

http://news.8btc.com/bitcoin-community-is-withering-it-has-lost-the-excellent-circle