Gold collapsing. Bitcoin UP.

[Justin]

@albin so you resort to name calling, is that how it is?

I provided facts, if you don't like that then that seems to be your problem. Desperation by fact checking, sure thing buddy!

 

[bitsko]

hi @Justin , I think this blog post sums up antbleed nicely. What do you think?

http://www.pxdojo.net/2017/04/ants-dont-have-blood.html

 

[albin]

@Justin

Aww sweetie, must be scary outside your little safe space!

 

[Justin]

Hey, @bitsko! Haven't read it, I'll get back to you on that.

@albin don't worry I'm used to jackasses like you resorting to personal attacks because they lack the intellect to counter and reply with facts. I frequent shit holes like r/btc and deal with people like you on the daily, don't worry if I were a snowflake I wouldn't be here. Maybe 2 seconds of thinking would have gotten you to that realization. Fuck off.

 

[albin]

@Justin

How noble of you to slum it "on the daily" with your inferiors!

 

[jake]

Bitcoin.com adding our stamp to the June 2015 miner statement calling for 8MB blocks. Hopefully more pools will follow suit.

https://www.reddit.com/r/btc/comments/687s2t/bitcoincom_pool_is_glad_to_join_f2pool_btcc_bw/

 

[Justin]

@Justin

How noble of you to slum it "on the daily" with your inferiors!

Inferiors? No, I just don't drown myself in the same groupthink like you do, or as you would say keep myself isolated in communities with censorship. You, however, have shown quite clearly that you are a real show of character as a first impression, I'm honestly not surprised.

 

[AdrianX]

It's a little sad that our new member would take such a hard line and negative reaction to that list of asicbleed trolls.

From the outside looking in he does have a point in that, that list of trolls would have only signed up soon after the site was made public.

Given the rate at which the story exploded and the tone of the story and how early that list was made public and some of the names involved this was notably an engineered PR campaign.

In the light of the facts of the story and how it has unfolded it's ended on a very positive note with the manufacturer fixing a bug in hours that could have resulted in a centralized point of failure.

Useful Idiot does seem like an appropriate term for the man thinking the story still has legs by proving there is an inconsistency of timing give when the list of trolls was made public.

It's obsolete now the issue is fixed and what is clear now more than ever before is we need to remove the transaction limit for safety reasons, (mining hashrate is 100% voluntary and it is not guaranteed - if 70% stop mining tomorrow we would need bigger blocks to accommodate network backlog during the time it takes the difficulty to adjust.

Core's incompetence is putting the whole network as risk insisting the limit be maintained. Just think what would have happened has the CIA done a MITM attack and turned off 70% of the network.

 

[Dusty]

Its obsolete now the issue is fixed and what is clear now more than ever before is we need to remove the transaction limit for safety reasons, (mining hashrate is 100% voluntary and it is not guaranteed - if 70% stop mining tomorrow we would need bigger blocks to accommodate network backlog during the time it takes the difficulty to adjust.

Core's incompetence is putting the whole network as risk insisting the limit be maintained. Just think what would have happened has the CIA done a MITM attack and turned off 70% of the network.

Good point!

Incidentally, that's why in case of fork the old (core) chain would need to change PoW to survive: the 1MB limit is exactly what would kill them due to the limit of transaction processing with a much higher delay between blocks.

 

[Zarathustra]

Hey, @bitsko! Haven't read it, I'll get back to you on that.

@albin Fuck off.

The censored BS 'forums' of the North Coreans would upvote your BS. The uncensored ones won't.
That's how it goes, and everybody knows.

 

[Zarathustra]

As you say, sad but true. The systematic terror and trolling causes panic and despair and together with censorship disrupts communication and sensible discussion, which becomes increasingly fraught and political. The community becomes incapable of dealing rationally in a straightforward way with scaling, drives users away, and risks irrevelance.

I find it immensely worrying that even leading figures standing up against the attempt to coerce adoption of Segwit and refuse a block size increase appear willing to ignore and sacrifice the basic design principle of on-chain scaling.

If bitcoin fails it will have been a moral and intellectual failure.

Yes. As @Justus Ranvier tweeted:

"The only problem BItcoin has is that too many people in Bitcoin both worship and fear a band of pathological liars."

 

[AdrianX]

Good point!

Incidentally, that's why in case of fork the old (core) chain would need to change PoW to survive: the 1MB limit is exactly what would kill them due to the limit of transaction processing with a much higher delay between blocks.

it was @Richy_T that original made the point on reddit.

 

[lunar]

I find it immensely worrying that even leading figures standing up against the attempt to coerce adoption of Segwit and refuse a block size increase appear willing to ignore and sacrifice the basic design principle of on-chain scaling.

If bitcoin fails it will have been a moral and intellectual failure.

v #wishey washy opinion post: v

This is something i've been thinking about recently. Namely, how I believe bitcoin will put an end to corruption. (or more precisely exposing true supply and demand) The world is messed up, and humans are very mixed bag. It's messed up because governments/businesses and people often say one thing but do another. Take the average politician, they might spout ideals pro this or that, but their actions often prove otherwise. This leads to frustration and misunderstandings from the public.

The reality is that it's not messed up at all, it's just that the incentives are not properly exposed and public. I think this is what we are slowly seeing with the blocksize debate. Honest actors, (def. rational entities, that hold or want to acquire more bitcoin.) have remained pretty much constant in their reasoning and actions. Some have quit/moved on, which is a rational response to a roadblock, others have been slow to come around. (due to the big hurdles on the knowledge market trail) but the ones to watch, the ones whose incentives are not honest, are the ones who goalpost shift and will seeming say and do anything to support their hidden see Peter Todd's flip flop above ^ (increasingly exposed) agendas/arrogant egos.

@bluemoon the 'moral and intellectual failure' has been going on for centuries, unfortunately the average person has neither the time, education or the intellectual capacity to see past their preconceptions and understand the problem, let alone the act in favour of a beneficial solution. Our only hope is that Bitcoin's network effect and embedded incentives are strong enough to drag them kicking and screaming into a better system.

 

[Peter R]

The new Bitcoin Unlimited website is now live! Please take a look!

Reddit announcement:

https://www.reddit.com/r/btc/comments/68awst/new_bitcoin_unlimited_website_was_launched_today/

Link to website:

https://www.bitcoinunlimited.info

 

[BldSwtTrs]

It's funny how Tuur Demeester, a small blockist and Bitcoin maximalist, hedge his career by posting an article about ETH threat to BTC some weeks ago: https://medium.com/@tuurdemeester/im-not-worried-about-bitcoin-unlimited-but-i-am-losing-sleep-over-ethereum-b5251c54e66d

Small blockists destroy BTC dominance with their beliefs system and they protect themself in case they are wrong (probably piling up ETH also). No skin in the game.

 

[Dusty]

@BldSwtTrs : My response:

You lose sleep about eth only because you know that a bunch of smallblockers can make Bitcoin fail, otherwise you would not think about it.

 

[Dusty]

Emergent Consensus in Bitcoin

 

[Zarathustra]

Wow @Dusty! Great work!

"It's a miracle: We've got a choice! By the pressures of the market place"


"It's A Miracle"

Miraculous you call it babe
You ain't seen nothing yet
They've got Pepsi in the Andes
Mcdonalds in Tibet
Yosemite's been turned into
A golf course for the Japs
The Dead Sea is alive with rap
Between the Tigris and Euphrates
There's a leisure centre now
They've got all kinds of sports
They've got Bermuda shorts
They had sex in Pennsylvania
A Brazilian grew a tree
A doctor in Manhattan
Saved a dying man for free
It's a miracle
Another miracle
By the grace of God Almighty
And pressures of marketplace
The human race has civilized itself
It's a miracle
We've got a warehouse of butter
We've got oceans of wine
We've got famine when we need it
Got a designer crime
We've got Mercedes
We've got Porsche
Ferrari and Rolls Royce
We've got a choice
She said meet me
In the Garden of Gethsemane my dear
The Lord said Peter I can see
Your house from here
An honest man
Finally reaped what he had sown
And farmer in Ohio has just repaid a loan
It's a miracle
Another miracle
By the grace of God Almighty
And pressures of marketplace
The human race has civilized itself
It's a miracle
We cower in our shelters
With our hands over our ears
Lloyd-Webber's awful stuff
Runs for years and years and years
An earthquake hits the theatre
But the operetta lingers
Then the piano lids comes down
And break his fucking fingers
It's a miracle

 

[AdrianX]

Emergent Consensus in Bitcoin

I came here to just post this - Emergent Consensus is now owned!great Job BU - I could not have done a better job.

the Adults have arrived. ;-) it's time to grow up.

 

[AdrianX]

Love this talk,
Antonopoulos coming around to the notion of emergent consensus 17:56. It's just a matter of time for the notion that bitcoin developers are not actually in the running to compete for control. Developers are not part of the consensus mechanism, they serve users, service providers, businesses or miners, they don't compete for control.