All posts made by rocks in Bitcointalk.org's Wall Observer thread
1.
Post 2605492 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.07h):
So someone wants to unload huge coinage and is propping up buy side to pick off anything offered above his fake walls? Since gox has usd delays he can bleed it out slowly over two weeks. I've been scratching my head at this market for days now and can only come up with this.
You have a point here. Eyes often glued on clarkmoody, that strategy makes sense, previous support at 100 was removed just before passing it. Lets see how the walls at 95 act.
Those fake buy walls are actually a huge risk for the wall owner. He thinks he's just propping up the price for his smaller sells, but if another whale wants to cash out, he can easily sell into them and the wall owner will be stuck with 3K extra coins that he can't unload.
There's whales, and there's leviathan. Now that Bitcoin is a currency, it is fair game for the Federal Reserve to toy with as well.
Not true.
The FED would require themselves to own a large number of BTC in order to influence the price either up or down. To do that they would have to buy a large number of BTC from the general populace.
This is the exact opposite situation with FIAT, where the FED "coordinates" actions with other central banks and do not have to actually own a foreign currency in order to manipulate the price. Instead they just do swaps with other governments.
Today the FED have no BTC, so they can not affect the price. For them to get enough would require such a large buy that the price would skyrocket....
2.
Post 3027641 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.14h):
I saw a website the other day (forgot the address, sorry) that just keeps a running statistic for how much it would cost to launch a 51% attack on bitcoin via hardware manufacturing. Right now it was something like $350m. That seems like a lot (depending on how you look at it) but if bitcoin was to gain the global acceptance that we all hope it will someday, it's not a lot at all. There is a big incentive to be the "federal reserve" of bitcoin, and a government entity might be willing to shell out that kind of money to do it.
$350M to attack is a large, but as you point out a very easy amount for motivated entities. Heck the FED prints $85B per month and no one bats an eye.
Another issue is the amount of electricity needed to sustain the network. If you assume that mining tends to increase until the value of the coins generated equals the electricity cost, then at today's market cap of $1.35B you need $422K in electricity per day.
The issue is
this electricity burn scales linearly with bitcoin's total market cap. If the market cap goes up 100x to $135B (still not a lot for a currency), then you need $42.2M to sustain the network. At some point this will either constrain the price or make people legitimately question some core concepts around bitcoin. Burning $50M or $500M in electricity per day is massive waste of resources, another mechanism will be needed.
3.
Post 3290155 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.16h):
I don't get the purpose of this thread anymore. Gox has become completely irrelevant. It is merely a slave to bitstamp. There is no fiat entering or exiting this exchange - it's merely a game of bots and traders who bet against eachother on price movements - which originate on Bitstamp. Bitstamp is where the fiat flows in an out of the btc economy now.
That is only the perspective you have gained after being off bitcointalk for several days.
Now that bitcointalk is back up and we can log on constantly all day to check for updates every 10 minutes, the purpose of this thread will become clear to you again.
4.
Post 3481217 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.20h):
How is it that they have no requirement to understand
anything in the university concerning the topic they are researching...?
I was wondering if what they said was even possible. I never heard of hiding found blocks and the like.
While all miners work from the most recently discovered block (think of it as the "original" block), the selfish mining process begins when a pool of miners discovers a new block and doesn't publish it. The selfish pool then begins working on discovering yet another block, mining from this hidden one. Meanwhile, the rest of the "honest" miners are still wasting resources mining from the original block.
Can you mine FROM a "hidden" block? This makes no sense to me.
Yes you can mine on any block created.
But this only makes sense if the pool has 51% of the hash rate, otherwise the public chain will statistically grow longer.
This is also why you wait at least 6 confirmations to consider a transaction valid. A sub 50% pool can statistically mine on an alternate hidden chain for a few blocks from time to time.
In practice no one has done this because it is wasting your mining power and revenue. ...
5.
Post 3534839 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.22h):
Averaging $3M in gains daily over the past week. Bitcoin is officially my #1 investment.
Nice, you can afford your own congressmen now.
Only senators cost a million or two
Congressmen only go for a few grand, 10k max...
6.
Post 3545553 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.22h):
If you live in the USA the banks are basically stopping all international wire transfers person to person due to reg changes in Oct.
You literally can't wire money overseas any more from some US banks.
can barely transfer between legitimate businesses
I needed some parts from Belgium just a couple weeks ago, took them forever to figure out the new rules
shit is seriously fucked up
All the more reason why bitcoin will take off in the US.
What is seriously f***ed up is these controls are just for the middle and working classes, the wealthy will still be able to move money around.
The US now makes things illegal through red tape. Wire transfers are not illegal, if they said that then people would notice. Instead they effectively make wire transfers illegal through regulations and red tape. Freedom is becoming an illusion.
Of course if you are wealthy and have private equity accounts, then processing said red tape is part of the service provided. Just screws the working class while the bankers and politicians are not effected.
7.
Post 3551178 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.22h):
You know a mandatory trading window would be great, when MTGox would be closed for maintenance. this 24/7 thing is not good, especially when there is No communication from these clowns. They got rich off the community's back and they don't care.
They should say something like, first of the month between x-x AM/PM we will shut down services and they should schedule change requests / maintenance for that window.
This no communication for ANYTHING that happens at MTGOX is deplorable, i'm going to move everything to bitstamp now that i have QT bitcointrader working.
Yet people continue to use them.
Gox won't change until people vote with their feet. That is the way a free market works which is bitcoins goal
Considering all of gox's past problems I can not understand why anyone has funds there
8.
Post 3584367 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.23h):
The only words that will get through to them are:
Silk Road... Drugs... Anonymous digital currency... Money Laundering... Terrorism (this is a big one)...
And that's all they'll need to know. Prepare for the worst guys.
That's why all this talk about looking at charts and saying BTC is going to go to $100K by 2016 is nonsense.
The easy part of the exponential scaling is over,
this involved gaining traction of a smaller community of ~100K like-minded people who understand money and liberty.
The next level of exponential scaling will be much harder, this involves becoming more mainstream and either working with (i.e. giving into) governments or outright rejecting attempts to take over the blockchain. It also
involves gaining traction with the larger community of people who prefer centralization and government control/protection.
9.
Post 3597286 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.23h):
Was that just the "crash"? Where are my cheap coins I want to double up!
10.
Post 3655196 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.26h):
The ones who are interested in fiat do not have so many coins that they could make a dent in the price. As I told above, dump is either manipulative speculation (I) or nasty manipulative speculation (II).
That's riduculous, you don't need to own the underlying asset to dump it and trash the price. Just look at gold today, lots of bankers are selling paper promises for gold and taking the price down, down, down. To think that you need coins in order to dump the price shows that you do not understand modern finance.
Or maybe you do understand modern finance and that is why you are here.
11.
Post 3676713 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.27h):
Dude moved almost 200K BTC and did not pay a fee, those are some old coins.
The blockchain.info tag is "Shit load of money!", I wonder if the owner entered that to mock us or if someone else did.
12.
Post 3713313 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.29h):
Holy shit what a fucking moron. Some people REALLY need to be protected from themselves. Obviously, no risk no gain but people like that don't deserve that amount of money.
No they don't deserve it, and that's why he has nearly lost it all. Unfortunately for his sister too.
So sad. No sense of responsibility at all, his ONLY duty is to protect that money and instead investing a small chunk he gambles it all by day trading Bitcoin.
Honestly, I feel a lot of pity for his sister - not at all for him.
Just remember, if you day trade successfully (BTC, stocks, whatever) this is the type of person you end up making your profit off of, and it's usually the family that suffers.
This is why I prefer just buying through coinbase and holding, it means that you are profiting off of the growth of the Bitcoin ecosystem as it continues to grow, not buy winning a zero sum game against those who don't know better.
IMHO the Dad & Mom deserve some of the blame as well. I've never seen a situation where dumping a ton of money on a young person who has not worked for it turn out well.
13.
Post 3731769 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.29h):
And are the current fiat currencies going back to zero before or after bitcoin ?
I will bid my 1BTC to your 0.5BTC that the US dollar ceases to be an international reserve currency before BTC trades with a daily VWAP under 1 dollar (US2013 PP).
I will bid my 0.5BTC to your 1BTC that the US treasury defaults on debt before BTC trades with a daily VWAP under 1 dollar (US2013 PP).
That is sort of like heads I win tails you lose. In the cases here where you win the btc recieved is worth a lot while in the cases you lose the btc given is worthless. ..
14.
Post 3811708 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.31h):
The growth in power of multinational corporations is already signaling change. If Bitcoin becomes the medium of international exchange, nations will become increasingly irrelevant in the coming decades. Eventually it will be all about the sphere of influence of the largest multinationals, with many smaller client corporations operating in that space.
If I am paying income income tax to Google instead of Uncle Sam in 40-50 years, I will not be surprised.
This already happened at a more national scale in the late 1800's, ever heard of standard oil? The people finally woke up and voted to tame the largest corporations back down in influence. As long as governments provide the people at least a pretense of a democracy then it is possible to bring the corprations in check.
Whether people will wake up in reality is debatable, the red team blue team pretense has fooled many for a long time....
15.
Post 3814684 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.31h):
Idk, the more I think of it, the more ways I find to launder it. And even so, he could and probably will opt not to do it now and just take little more handle-able chunks for the rest of his lifetime.
His real problem imho are the drug and mob lords probably chasing him for the rest of his life as well. I'm just guessing but there's probably some cartel money in there..
There's no chance he'd sell them for fiat anytime soon. He'd be busted in no time. That's why I am saying he would do it with alts, he won't be able to hide it with bitcoins only, specially not on the way he is doing it at the moment. He needs to mix the heck out of them with alts and save 20% of them, it will still make him rich and he'll be able to sell them off the exchanges more easily.
There is no reason for him to even bother moving them at all for awhile. Since the coins/address is known, he can just lie low and not touch the address for years until something comes along that allows for complete history removal (such as zerocoin).
I personally think this is a fasinating situation. Bitcoin only provides pseudo anomyity, and there is a public ledger stored forever for people to analyze. Whenever he does finally try to access the coins there will research papers written on how to trace and track them, either through the ledger, IP tracking, etc. It will be fasinating to see if he is able to find a free and clear exit somehow, or if the coins become stuck. If they become stuck then it proves bitcoin is not anonymous. At the same time it shows how secure Bitcoin is, here is an address that is known to contain $100M in stolen funds, yet no one even governments can touch it.
16.
Post 3826690 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.31h):
I have no problem paying for taxes if the government uses them well. Frankly the libertarian utopia doesn't convince me, Bioshock is a testament to that
. But you should try it to see if it works although I wouldn't hold my breath.
Libertarians do not believe in zero government, that is liberal scare tactics. What libertarians do believe in is limited government covering essential common good services (roads, courts, education (not union education), etc), which today comprises a fraction of the bloated US government.
17.
Post 3827453 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.31h):
This board has done exactly 900 pages in less than 1 month.
https://bitcointalk.org/index.php?topic=178336.38840How do we rank that? Is this a posting bubble?
18.
Post 3869698 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.34h):
Bitcoin is by design encouraging saving and thus attracts people who would like to save. (But have only shitty ways of doing so thanks to the inflationary monetary system
)
The is the argument against a gold (or bitcoin) standard by the FED and banking status quo.
Under today's credit fiat system, it makes no sense to "save" money in currency since it continuously inflates. Instead savers are suppose to invest the money into businesses, capital spending, stocks, etc.
The problem is today no one saves this way, instead savers (those with disposable income over expenses) spend money frivolously on vacations/restaurants/crap instead of saving for the long term, and many of those who do invest do so in bubble type assets (i.e. large houses).
The fiat credit system is suppose to work in theory, but in practice it obviously does not. Hence bitcoin. It provides a real escape for true savers.
19.
Post 3908507 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.35h):
Like most here, I gently smile when I read one of those many mainstream articles claiming "Bitcoin could take off, but they really need to implement reversible transactions". It's a feature, bitch, not a bug.
But I *am* aware that reversible transactions are not per se bad. In fact, in many cases you might want something like that. Enter Paypal.
I have no idea if they're smart and nimble enough to see this huge opportunity, but if I were them, I'd at least have a small internal team dedicated to the possibility of setting something up like this, exploring the legal framework necessary to pull it off, etc.
Great insight, thezerg!
The simple quick answer is if reversible transactions are desired, yes they are possible by layering another service on top of bitcoin. Bitcoin is a protocol and you can build anything on top of it.
For example paypal itself could offer a bitcoin service with reversible transactions. Here payments are given to paypal in a users account, and the bitcoins have to stay in the account for a certain period of time. During that time paypal could reverse the transaction since they still have the coins, and after the time period allow the receiver to withdraw to an external account. The service would cost x% of the transfer.
Now people/merchants can decide for themselves if they want to use the service or not. Merchants can say, you can pay me X BTC for direct payment or X+4% for through paypal service. Now people that trust each other don't have to pay the fee.
That's how a free market and individual choice works. That is what bitcoin is designed for.
20.
Post 3936813 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.36h):
That's like saying "the Facebook ecosystem has the potential to double" way back in 2006. People who look at Bitcoin like a stock and speak in those terms don't get it.
21.
Post 3998981 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.40h):
Deleted - Whoops read the previous wrong...
22.
Post 4044756 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.43h):
Go over and look at Japan's situation, I forget the exact number but if Japanese bonds go to around 2.1%, interest payments on gov debt equals tax revenue, meaning that they would have to print 100% of any government expenditures. Oh and that number decreases every year due to their high deficit. In not that many years a 1% interest payment will break the BOJ.
Don't forget, this is why satoshi created bitcoin, and why these short term price fluxuations are meaningless.
23.
Post 4278577 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_11.50h):
What app are you using for coinbase limit orders?
I've developed it, I thought I'd do some more testing and release it in a week.
//although there is app for Android made by someone else - Coinbase Trader
Please release and open this up on github when you are ready. I (and I suspect many others) would be interested in using and contributing to this. I've asked coinbase if they plan on adding this feature and they never reply back...
24.
Post 4826305 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_12.01h):
wall street money incoming confirmed: 2014 the year bitcoin connects to the banks thanks to NY regulatory framework! hopefully we'll get legit US exchange and full derivatives trading this year as well.
This +1e9
25.
Post 5005643 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_12.04h):
I really don't understand what people are doing at Gox, you sell your bitcoins that you cant withdraw for FIAT that you cant withdraw as well... the whole Gox situation doesn't make any sense to me, there is something happening behind the scene for sure.
and not only gox, you've got the Second market CEO announcing a buy/sell offers for a min of 25BTC, is it a last cry to save the price from tanking which can result in a huge loss for their earlier purchased bitcoins ? or is it a try to Buy even more bitcoins at these prices without going through exchanges to not bring the price back up, both are valid scenarios to consider at the moment but which one is closer to what is really happening.
What are people doing at Gox is they don't want USD, they wanna trade for more bitcoins using speculation. Go ahead and sell your coins to Second Market and try to get them back when price drops from $800 to $700 and you think you are going to make 10%. Let me give you a hint they wont be selling them back, they are long term holding and buying.
The way to understand what second market is doing is very simple.
Just look at their bid/ask vs. the exchanges
If second market's bid/ask is higher than the exchanges then they are using this to BUY and ACQUIRE bitcoins. A higher price means they want the market to sell bitcoins to second market.
If second market's bid/ask is lower than the exchanges then they are using this to UNLOAD and SELL bitcoins. A lower price means they want the market to purchase bitcoins from them.
26.
Post 5062000 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_12.06h):
I am talking about leveraged longs. BTC-E is a leverage trading platform via Meta Trader. Pretty sure this was a string of forced liquidations.
They should not allow monstrous leveraged positions to be build up that are larger than their own thin order book, this is just insane.
Exactly.
Insane, definitely yes.
But it does not matter to us hodlers.
In the central bank fiat world such a blow up causes them to print more fiat which negatively hurts me the prudent saver by lowering the value of my fiat.
In the bitcoin world such a blow up only causes BTC-E and their customers to lose money, while prudent savers are left untouched with the exact same BTC as they started with.
27.
Post 5487925 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_12.23h):
I think what we are seeing is the result of massive buildup over the anomalous repeated FUD over such a long period, plus the recent UK decision not to tax bitcoin. Lots of wealth in the UK. Lots.
The UK is still going to tax bitcoin with all the standard gains, and income rules.
They are just not going to layer an additional 20% VAT on top of all bitcoin
transactions, which would have effectively outlawed bitcoin in the UK.
28.
Post 5494146 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_12.23h):
goxBTC-only holders now face a very difficult choice: replace goxxed btc with fresh purchases before the price goes to Mars, or focus on alts or give up on crypto completely.
That has been exactly my thinking.
The Gox BTC disappeared into the market a long time ago and they were operating in a fractional fashion.
This means that the perceived money supply was larger than it actually was. People thought they owned coins they didn't in fact own and someone else was using. Now that the truth has come out the perceived money supply has been reduced by ~6%. MtGox people can either purchase the BTC that they wanted or exit. Exiting has already been priced in, but purchasing more drives the price up.
I'm inclined to think this could go higher in weeks/months. It takes time for people to accept the loss. Many and still in a denial phase shocked that their $10K or even $100K nest egg is gone, and think courts or something will get it back. As the realization and acceptance sets in, then new decisions have to be made given their new situation (which is BTC broke)
29.
Post 5513186 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_12.24h):
I am NOT one of them b/c I believe in government as the will of the people.
So do the libertarians.
Richy, there is no point in arguing with JayJuanGee because he is one of those who plant false flags in order to make points based on unsound positions.
Libertarians believe in small limited government, which is the concept of the US, at least for the first 200 years. But liars and liberals such as JayJuanGee find it easiest to go around saying that liberatians believe in zero government and complete anarchy, because their positions have zero backing.
30.
Post 5941854 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_12.29h):
Stop going back up, I want cheaper coins.
31.
Post 6117559 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_12.34h):
It was over a week ago. I don't have pics. So I guess he could have sold it by now a little at a time. My point is that there are are people with massive holdings who could profit by crashing the price to buy back cheaper. The easiest way to get bitcoin is to already have a bunch and take advantage of a vulnerable market the way George Soros made a billion dollars in one day shorting the British Pound. There are sharks out there waiting for the signal from China to eat us alive. The question isn't up or down. The question is how much lower.
If I was an evil billionaire (possibly redundant term), I would buy hundreds of thousands of bitcoin off exchange from miners and flood the market, keeping prices low for months while I bought more coins from miners at the new lower price. People keep pointing out that fiat is infinite and bitcoin isn't. Rich guys can use time as a weapon against us. They can wait us out.
+1 A lot of what you say is very true.
This is why it is important to only invest what you are willing to lose and very importantly not depend on selling bitcoin to maintain your livelihood. If you rely on bitcoin monthly sales for food/rent or have so much invested that you "can't lose", then the large players will definitely eat you alive.
But if you only invest what you can walk away from, and don't need to sell BTC for any reason, then any attack by the big players is meaningless. You can just sit back and wait and wait and wait. And if the price goes stupid low, buy more. That's how to win the game.
32.
Post 7302981 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_12.53h):
Another round of dumps. this is getting old
Any particular reason this time, all just 51% attack, selling Silk Road coins, and reiteration of China ban?
Itīainīt over till itīs over which is BTC / USD = 0$
It ain't over till it's over which is
BTC/USD = $0 USD/BTC = $0
FIFY
33.
Post 7456335 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_12.54h):
Yes, like I said, you're doing something very very wrong.
I'll say this only once: Buy the 15 BTC, withdraw them from the exchange, put them in a cold wallet and go do something else for a few years.
No, I will not.
I am 70% certain that Bitcoin will correct from here. A correction down to $550 wouldn't be out of ordinary given the chart conditions and since the long term Jan 2013 support line is currently at about $565, a breach of this line would raise serious doubts about the sustainability of the current Bitcoin price and primary uptrend which has been in force since Jan 2013. I know that the likes of Bitfinex can smash through these trendlines as though they didn't matter and then spring back up (or down) with all the leveraged traders having been swiftly deprived of their USD, but if Stamp goes through these supports, it could herald in a whole different ball game.
You sound similar to my thinking when I first got into bitcoin in 2012. The price had crashed to $2 in 2011 and then bounced back to $5ish. I wanted to buy about the dollar amount you are playing with but wanted to wait for $4 again so I could get 20% more coins. If just bought I would have several thousands of btc today.
The difference between $600 or $500 today is meaningless, just as the difference between $6 and $4 was in early 2012.
Bitcoin will either be adopted by many people or be abandoned. Invest an amount you are willing to lose and leave it at that.
34.
Post 8333665 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_13.04h):
Ease up. 27 pages so far today and the day is only half done.
I scrolled through all those pages checking posters's names, to see if one of the three or four people worth reading had contributed.
Nothing but the usual cataract of logorrhea and cutesy images.
Personally I am only here for the cutesy images at this point, and even those are few these days
35.
Post 8368430 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_13.05h):
You're probably right this time, but I want to make sure this possibility is on everyone's radar because the odds of it happening go up every day.
That the Federal Reserve Bank of NY stole 300+ tons of gold from Germany is not an imaginary conspiracy theory.
They promised to hold those bars. Not an equivalent value - the specific serial numbered one which Germany originally deposited.
When keeping that promise became inconvenient they defaulted.
This is the MO of Wall Street, and they will not change their ways when they get involved with Bitcoin.
What I expect to happen is that Bitlicenses are going to eventually force all Bitcoin startups to get acquired by banks, because Bitlicenses are impossible to comply with and banks are immune from their provisions. One day after Coinbase has been bought out, their users are going to log in and have to check a box indicating they've read the new Terms of Service. Buried deeply in the legalese where nobody will actually read it will be the provision that says they "might" rehypothecate your deposits.
tl;dr: Hold your own coins and don't store them with third parties, because if you don't you'll eventually discover you don't actually own any.
The advantage for bitcoin is it is less manipulable than gold has proved to be. Throughout history just about every single major power started with some form of gold as a base currency, but then resorted to debasing the gold content in coins more and more until the populace finally would not accept the devalued coins anymore.
This has proven even easier in the modern era where the banks/government do not even have to issue falsified coins with less and less gold content, and instead have been able to completely sever gold content from currency in people's minds.
But with bitcoin it will always be easy for people paying attention to take physical possession of their own coins in their own wallets. The only way to stop this is to make it illegal entirely, which exposes the scam. This is why I am betting on bitcoin more than gold this time around.
36.
Post 8376283 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_13.05h):
Im seriously thinking about cashing out and then rebuying with the bleeding stops. I truly believe it will go at least 50 dollars lower than it is now, but most of the time I have done that in the past, i got burned, glad i only sold a tiny bit and not the whole ball of wax... My wife told me to just leave them in cold storage, its not like I have a ton, but what i have now could put a nice down payment on a house or buy a very nice luxury car... Ive already lost 20k or so on paper the last couple days, I just dont have the blood pressure to take this..
But, like Ive said before, Im in it for the long haul and need to remember that im betting on the future years down the road, not weeks or months.. Ill probably just hold, and ill come back here crying saying I should have sold... If I sold and it it dive, I would for sure buy back in.... but fuck it.. Ill just hodl....
You only lose money if you sell at a loss.
You don't need either a new car or a new house. If you have that many coins you also probably make enough money to live on and don't have any reason or need to sell at all.
Just put them in cold storage and leave them there.
Again the 20k loss over the past two days is only in your head if you were not planning to sell.
37.
Post 8472964 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_13.07h):
That man was a disaster! Western civilizations downfall is partly this mans fault.
The more I think about it, the more I cannot find a single modern nightmare problem that Richard Nixon did not have a gigantic hand in. Although I do agree, Churchhill is a huge racist imperialist dick.
Well, there are worse leaders:
the west used and screwed these guys too... hence the hermit(ness)
They were the ones that invaded the south and their society is so hell bent on staying closed to outside information, they constantly blame their ills on an imperial west which we are. They'd be in even worse shape w/o their markets where smugglers bring in foreign products allowing the matriarchs to put food on the table through sales.
Having lived in South Korea for several years, the thing the western media never shows is after any anti-US protest by a few kids, the next day there was ALWAYS a much larger pro-US counter protest by the older generations.
The older people who lived through the war know that the US fought to create a stable open trade environment for them that allowed Korea to work hard and go from poorer than africa status to one of the richest countries in the world.
For some reason they seem to prefer that to the impoverished totalitarian hell hole up north the US stopped for them.
Is the US an imperial power run by a corporate/statist oligarchy? Yes. Does this need to be stopped? Yes. Were there many much worse and more evil alternatives in the 20th century that we should be thankful were avoid? Yes. (Pol Pot, Mao, Japanese 1+ million sex camps of teenage girls, Hitler, Stalin, I could go on)
38.
Post 8865683 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_13.13h):
Sell! Sell! Sell!
(Sell me your coins!!!!!)
39.
Post 8879125 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_13.14h):
White Flag
http://youtu.be/T_6B_QcDGGc"I will go down with this ship
And I won't put my hands up and surrender
There will be no white flag above my door
I'm in love (with Bitcoin) and always will be"
40.
Post 9111211 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_13.21h):
I guess it just depends on what happens from this point on?
Indeed.
My feeling is that true capitulation was achieved and while we may see one last dip below $300, the trend has turned.
Last night's 30k wall was an expensive way to slow what might have been a dramatic correction on reversal.
I feel strongly enough about this that I bought another 3 coins this morning despite having joked with some dude at Decentral on Saturday about having spent my weekly Bitcoin allowance on that day's 2 coin purchase.
Well done. Your timing to buy was great.
I am thankful I just convinced my more bearish husband to hold through this last drop.
He seems to get even more moody than I get when the price tanks and wants to sell at the worst times. Then when the price rises he decides it great to buy more. (granted, we have been lucky a time or two and bought at relative good times) But we seriously need to work on not buying or selling based on emotions.
Take you coins and divide them in half, then let each person do what they want with their own half.
If your husband is bearish or scared you can then just sit back and watch him sell his half, while you hold long term. In 5 or 10 or 15 years the gains on your half will be all yours and every time he comes to you for a piece of your retirement funds you can say I told you so. Well not verbally because that would be mean, but he will say it to himself.
Either that or tell him to grow a pair.
41.
Post 12822613 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.29h):
"The next 24 hours are critical", remember all of these posts from 2013
42.
Post 12822763 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.29h):
Should I sell my $$$?
Where did you find this chart, I love these.
43.
Post 12822826 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.29h):
Should I sell my $$$?
Where did you find this chart, I love these.
pizzacharts.com
Thank you!
44.
Post 12823705 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.29h):
China is ready pushing again. 20k+ shorts on Finex and God knows how much on other exchanges.
Yep, China clearly leading. Saw it happen there a couple minutes ahead.
If that is true, and it is because of the new capital controls, and people are using bitcoin to transmit money out of China. Well then a $4B market cap (with <$1B supply realistically available to buy) is simply too small to handle the potential volume. Much much too small....
45.
Post 12836189 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.30h):
Could this be Bitcoin's last gasp?
If Bitcoin surges to say 100 billion due to chines capital controls, and then China starts beheading bitcoin holders.... wouldn't that be the end of bitcoin at least in our lifetimes?
If they're using brainwallets? Bullish.
Or password protected wallets that become lost.
Chaos leads to lost coins which is good for holders.
46.
Post 12844397 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.30h):
And china +30$??
Surrealist
I think it is an error with the Bitcoinwisdom conversion rate.
Impossible such gap be maintained for so long
Nope , not an error with the conversion rate. That gap is real. It's totally fucked up and weird , but it's real. Don't trust me , just check the current CNY USD rate anywhere on the web , then do some basic math , and you can see for yourself it is totally spot on with what bitcoinwisdom is showing. My guess is , traders on finex stamp coinbase etc at this point collectively do not trust the huobi okcoin btcchina etc rates to not be artificially inflated , and so they're actively buffering the price with a ~$20-30 gap at the moment. That , or traders are anticipating a severe devaluation of the CNY in the next couple days and are unwilling to risk any amount of time being in CNY instead of USD or EUR , therefore arbitrage is not happening at a high enough volume to bring the exchanges into line with one another. Still , it's totally nuts that arbitragers haven't brought the interexchange rates into sync by now.
This sound spot on. And great explanation, by the way. Thanks
The other possibility is people buying on okcoin in any, and then selling in USD on other exchanges. That would cause a cny / USD split if done in enough volume
47.
Post 12860956 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.30h):
Watching stamp right now I say $350 before EOD
48.
Post 12864998 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.30h):
$375 just taken out on coinbase
Time to update the poll
49.
Post 12888242 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.31h):
Currently negative 20% on the hour candle, that is crazy. Zero buying support at all.
50.
Post 12888777 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.31h):
If this keeps up we are going to see those "300 - Spartan HODL" pics soon.
I love those.
51.
Post 12889215 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.32h):
This is clearly the work of an auction bidder. It probably took less than a 10K coin dump to can the price, and they now get to buy 44K coins significantly cheaper.
This is just whale manipulation before the auction prices.
52.
Post 12900898 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.32h):
Time to break these out again.
Spartans HODL
53.
Post 12959405 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.33h):
Getting nervous yet bears?
B-b-b-b-but they said we'd retest the low 200's soon?
The chart looks almost exactly like it did in 2012 after the run up to $15 (half the previous high) and fall back down to $8ish to settle around $10.
I'm holding/adding here
54.
Post 13186931 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.36h):
Actually I have been programming almost daily for the last 40 years. And I have watched from front row some of the best software developers in the world as they worked. As well as some terrible ones.
That is why I think that swapping Gavin for Greg was a disaster for bitcoin...
Actually the jokes on you, Jorgi. I'm a career programmer too, that's actually looked at some of the recent Core releases, and I can tell you that there's been maybe only a handful of lines of code added to Core in the last year or two.
A. Handful. Of. Lines. In. Over. A. Years. Time.
So let's don't over-glorify these so called developers and put them up on some sort of pedestal. Like they've got their noses to the grindstone every day, furiously cranking out mountains of code. If they had only coded that much in a business world white collar desk job setting, they'd be fired by now for being over-paid slackers.
P.S.- And the truth/reason is, after 6 years of development, Bitcoin Core is pretty much complete and solid at this point. All the heavy lifting was done years ago. With the exception of increasing block size, and maybe a few other little things, there's very little left for the Core developers to actually do. So they're basically just downshifted into long term maintenance mode at this point, which anyone with their knowledge can do on the side for a few hours a week.
That is because they are only working on their own company's off-chain solutions and stonewalling on any improvements to the client to enable scaling. Oh they also spend tons of time on reddit and other forums posting messages to argue why blocking the stream of transactions is necessary.
Greg, Peter and several others have openly stated that they do not like Bitcoin's design and that it shouldn't work in practice. Despite the fact that it does. These are the people that have taken over control of the project because Gavin was too nice and wanted to share developer control, only to see these guys take over and shut him and the other early developers who actually built Bitcoin out.
Under Satoshi and then Gavin we had don't of regular improvements in the client, now under Greg and Peter we have none.
55.
Post 13188897 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.36h):
$400 on coinbase hit
56.
Post 13199655 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.36h):
There's an intriguing bit of psychology at play as the price rises. And this is only really going to kick in once we're in the quad digits. Humans have this peculiar trait about us that the more expensive something is the more we desire it. People with wealth in other areas will see the rise, and will find themselvews strongly compelled to buy some of these mysterious bits. And this cycle will continue on upwards.
Tell that to the buyers at $1100 Nov/13.
... and the buyers at $266 April/13, and the buyers at $32 June/11 ... your point is ??
My point is don't count on others joining in when the price is really high. This theory has merit, until it doesn't.
noone knows what "high" is, relatively speaking, since the potential pool of buying funds is overwhelmingly massive and the supply of coins is limited and fickle sellers could dry up supply in an instant .... c'est la bitcoin, place your bets, don't whine if you get stopped out, left out or scammed, dyodd.
The easiest way to think abut what high is, is to talk about the market cap, not the price per BTC. Today's market cap (assuming 1-2M lost coins) is roughly $5.5B
$5.5B may be either very high or very low depending on what you are comparing Bitcoin to.
If you are looking at Bitcoin as a place for people to hid & protect wealth over $50T over the coming government and banking crisis, we have both high inflation and negative rates charged on bank deposits, then $5.5B is too small a number to absorb a fraction of that money.
57.
Post 13206982 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.37h):
Hash rate is skyrocking
Intel started to mine bitcoins or what?
lectual individuals.
Hardly. The intellectual miners, chip manufacturers aside, started in 2009 and stopped somewhere in late 2014/early 2015 if not earlier.
Bitcoin mining has been a game for idiots since coming of ASICs.
The initial idea of PoW mining was to distribute control over the network, so that everyone could get their part with hardware that they already own. Things started to go downhill with GPU mining, but coming of ASICs turned this thing into a total mess. Control isn't shared anymore, but control is chased by a bunch of greedy idiots, who waste resources to build machinery, that are solving problems that don't have to exist anyway.
Even without asics mining was always going to concentrate in the lowest cost electricity regions. There are places that pay <$0.02 for electricity. Even with CPU only mining, people in higher cost regions would become unprofitable and shutdown, and people in low cost regions would buy CPUs and deploy on a large scale.
ASICs had nothing to do with this trend
58.
Post 13263129 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.38h):
So that was it? Some dump
59.
Post 13281953 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.38h):
Nobody but me is shorting. Just look at BFX.com. Only 691 shorts opened up in the last 24 hrs. All the short-sellers (except me) got wiped out in the November spike. No, two million bucks worth of margin longs deleveraged to bulls. That's all. That means they only have another 24 million to deleverage before they can pull their damn coins out of BFX before it goes GOX.
This is the simple reason why shorting BTC was just plain dumb.
There is a limited number of BTC available to borrow to short Bitcoin.
On the other hand
there is an infinite number of dollars available to borrow to leverage long into Bitcoin. You guys are complaining about
$24 million leveraged longs on bfx, well the banks have over
$100 trillion in leveraged dollar longs. The supply of dollars to borrow is infinite.
Just wait until the Gemini exchange in wall street gets going. It's going to make bfx look like a doll house. And Gemini will have access to all the dollars in the world to lend to people, but they will have very few BTC to lend as well. You do the math.
60.
Post 13290826 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.38h):
When will we start to skyrocket again?
I don't know, Newbie. As soon as you start buying, I guess. All I know is that if we don't get a new ATH or a scaling solution by the time of the halving,
I'm dumping my cold storage coins. All of them??
Probably. at least 90%. If it don't scale, they're on sale.
Agreed, Why anyone would be heavily invested in an artificially capped currency that most people can not use is beyond me.
Remember a fee market does not work. A fee market simply prices people out, it decides who can use and
who cannot use Bitcoin. If Maxwell succeeds and forking Bitcoin from it's vision as a true P2P currency that anyone can use, then I'm out. And I've very been buying since 2011.
But it probably won't come to that, there are enough people that want to scale bitcoin that it will happen one way or another. If the core devs refuse to follow the wants of the user base, I could see a user led fork happening. If that happens I dump my long term coins on Maxwellcoin and hold them on the large block chain. Could be the best trade ever.
61.
Post 13291124 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.38h):
Agreed, Why anyone would be heavily invested in an artificially capped currency that most people can not use is beyond me.
Remember a fee market does not work. A fee market simply prices people out, it decides who can use and who cannot use Bitcoin.
It is not "beyond you" to understand this. It is pretty elementary.
1. You can understand pretty well the concept of abuse.
2. You can understand that not 100% of humanity is dependable to behave in a good manner, 24/7/365.
3. If you leave the option of free and totally unrestrained use of the blockchain then it's just a matter of time before the blockchain is bloated to infinity by some script kiddie who creates some script and lets it run continuously and adds tens / hundreds of gigabytes of spam, "for the lulz"...
4. You can now fully grasp that fees and "limitations" are what prevent system abuse that would have already rendered BTC a swift death.
5. If you have a better solution for the problem at hand, please present it.
The question you pose is actually reversed: Who would actually be invested in a joke currency that a script kiddie can render it useless for the lolz?
That is why we have the minimum fee in place. It makes spam attacks economically unprofitable and drains bitcoin from the spammer.
We have run for 6 years without a fee market and no spam attack has taken place.
The script kiddie scenario you state as a fact, is in fact a fantasy, it has not happened because there are already mechanisms in place to prevent it.
Seriously go read satoshi's white paper, it explains all of this. Enjoy your Maxwellcoin with the 5 other people allowed to use it.
Oh, and Maxwell said just last week on the mailing list that we was considering LOWERING the 1MB limit earlier this year. That's apparently what you small blockers want, 5 people trading bitcoin between yourselves and wondering why they aren't worth anything.
Thankfully the way bitcoin was designed is everyone with an ounce of sense can take our own path and fork away from you.
62.
Post 13293213 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.38h):
what we need to be talking about now isn't block limit but TX manubillity and opening up bitcoin's scripting capabilities
Don't forget about RBF, we need that now. It's not like zero-confirm transactions were built into the system or worked ever before.....
63.
Post 13403054 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.39h):
Civil engineer: Hey, Boss. Traffic on the bridge is increasing by 50% per month. Shouldn't we widen it?
Bureaucrat: Ha! That bridge has excess capacity. If traffic gets too high, we'll just increase the tolls. Most of those schmucks don't really need to go anywhere anyway.
Civil engineer: Do we know that for sure? What if there is an evacuation or something?
Bureaucrat: That bridge was intentionally designed with low capacity to prevent invasions! Widening it would be a dangerous departure from historic bridge operations.
Civil Engineer: Aren't bridges supposed to be used to facilitate travel?
Bureaucrat: Yes, but only the right sort of travel. That's for me to decide! If traffic gets too heavy, and tolls get too expensive, the people can use buses. Too many single passenger cars anyway.
Civil engineer: Do you own a bus company?
Bureaucrat: Purely coincidental! I'm just guarding against bridgebuilder centralization.
Civil engineer: I see. No conflict of interest there. What's the name of your company anyway, Busstream?
Bureaucrat: BridgestreamTM, Smartass.
Awesome post, BJA!
Epic, classic. Well-crafted rhetoric manifesting good faith is often more persuasive than bare facts and logic. Humans "reason" almost entirely by analogy, so this is a most effective way to make your point. The analogy flows easily, and neither is it labored, nor does it beg extension to a
reductio.
Thermos' censorship on reddit and here only worked for awhile.
Now that we are getting closer to the limit where everyone will feel real pain from the artificial limit, more and more people are noticing the problem.
The rampant censorship that worked for the Blockstream team works less and less as more people start to ask why we are not doing the obvious thing we all understood would be done years ago. You can't censor everyone.
Core has stated over and over again they will not raise the 1MB limit (which Satoshi and everyone agreed would be raised for years). They even just reiterated this yesterday. This is both absurd and will not stand for the larger market. I won't be surprised if in 1 year from now no one is running core and Bitcoin as moved on to other implementations that better reflect the vision.
64.
Post 13404195 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.39h):
You know a conversation is not about technical merits when words like "small blockers" and "cripplecoiner" start dominating the argument.
Key to winning an argument without logic:
Lump a bunch of people into a group, then attack that group. Usually by pointing out some bad actions of one or a few members of that group.
You know a conversion is not about technical merits when people have to resort to massive censorship and manipulation to dominate the argument (reddit bans, comment deletion, sorting by 'controversial' instead of 'best', the GCBU thread freeze on bitcointalk [largest and most popular thread with 1.3M views]).
Key to winning an argument without logic:
Lump a bunch of people into a group, then attack that group, then ban everything they say and every participant in that group.
65.
Post 13407132 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.39h):
Going from 2.7 tps to 5.4 tps isn't trying to make a VISA competitor where the world's cups of coffee will be forever on the blockchain. It's simply growing in line with (actually more conservatively than) hardware/bandwidth improvement. With current number of tx, and no block subsidy... this thing is as good as dead.
That's why the block reward exists, to provide cheapish transactions while we grow the base number of transactions that will eventually cover the cost of mining security.
That's the baffling/infuriating part with small blockers, they assume that if we hard fork to 2MB once, 256MB is right around the corner... it's not. It's also completely different from changing the reward schedule, which is often raised in the next sentence.
If Bitcoin is artificially crippled at 1MB4EVA, or even 1.75MB with segwit through 2018, competitors will be picking away at that first mover advantage like a vulture on a corpse. This is not gold, it's not on the periodic table, it's open source software. It's value is derived from utility, and expected utility. Kill the utility, kill the coin... or at least relegate it to rpietila's new castle game.
+10
In the end, because security depends on fees, and users pay fees based on utility, bitcoin's security model directly depends on the total utility it provides to users.
A widely used bitcoin has infinitely higher utility than a 1mb limited bitcoin.
This is what satoshi meant when he said that in a couple decades bitcoin would either be widely used or not used at all. Unless bitcoin is widely used by the time the coinbase rewards role off, its security model breaks.
This is why we have to scale, period.
66.
Post 13510359 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.40h):
and do that while maintaining the integrity of the system. Not people tinkering with an existing variable that has known tradeoffs if you set it lower or higher.
Because 1MB was not arrived at arbitrarily, but through exhaustive research and testing?
You're not saying that 1MB is simply a meaningless number Satoshi randomly selected because it was always meant to be increased long before it was reached, are you? Because that couldn't be the truth of the situation according to what blockstream says.
67.
Post 13647435 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.42h):
poor Austin...
I know a number of Blockstream people are frustrated by people who arent discussing things with them, talking to other media outlets
have you asked theymos what might be the problem? Just sayin, like.
Hory Sheet.That drop.
I am currently serving a 30 day ban on /r/bitcoin
My offence? I replied to Maxwell to counter some ridiculous claims he was making.
Blockstream is not interested in discussing anything with anyone, and openly censors people who do not back them 100%. Cry me a river, they can go pound sand for all I care
68.
Post 13932126 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.44h):
Adam, I think you are 100% correct. But I am big block biased. However, statements speak for themselves.
Samson Mow @Excellion 8h8 hours ago
1/ So to talk about safety @digitsu @olivierjanss, first we need to establish a common understanding. What is the end game?
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Samson Mow @Excellion 8h8 hours ago
2/ Are we taking about switching to Classic to reach 2MB via HF, and then back to Core after they follow with increase?
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Samson Mow @Excellion 8h8 hours ago
3/ Or is this a permanent switch to Classic forever whereby we abandon Core?
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Samson Mow @Excellion 8h8 hours ago
4/ and Core keeps writing code & fixing security issues to give to Classic team so they can merge and change 1 to 2 before re-releasing?
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Samson Mow @Excellion 8h8 hours ago
5/ If it's the latter, we should ask @petertoddbtc @morcosa @pwuille if they are okay with that arrangement. It's the polite thing to do.
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Olivier Janssens @olivierjanss 8h8 hours ago
@Excellion 1/ We're not here to replace core but to compete on merits. Our priority/goal is to scale Bitcoin on-chain first.
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Peter Todd @petertoddbtc 8h8 hours ago
@olivierjanss @Excellion What's relevant here isn't Bitcoin Core vs Bitcoin Classic, but rather, Bitcoin protocol vs Classic protocol.
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Peter Todd @petertoddbtc 8h8 hours ago
@olivierjanss @Excellion Protocol competition is a winner take all, as there can only be one winning protocol w/o screwing up BTC economy.
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Peter Todd @petertoddbtc 8h8 hours ago
@olivierjanss @Excellion Alternative is protocol development _cooperation_, where compromises can be made between different parties.
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Peter Todd @petertoddbtc 8h8 hours ago
@olivierjanss @Excellion e.g. the Bitcoin Core scaling proposal is a significant compromise in how it uses segwit to increase blocksize.
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Olivier Janssens @olivierjanss 8h8 hours ago
@petertoddbtc @Excellion Compromise to who? Segwit is something Core proposed. Many people want 2MB HF first.
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Peter Todd @petertoddbtc 8h8 hours ago
@olivierjanss @Excellion Segwit didn't need to be implemented as blocksize increase; using it to increase blocksize was a compromise.
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Peter Todd
@petertoddbtc
@olivierjanss @Excellion There's many - including myself - who would prefer to do no increase at all for now. But we must compromise.
My understanding of Todd's position, is that Segwit IS the blocksize increase. /golfclap
The reason Todd and Blockstream want SegWit first is very simple.
LN requires SegWit in order to work, without SegWit LN is broken.
This is why they are pushing SegWit first. They know that if 2MB blocks happen, once everyone sees how easy it was it will become more difficult push SegWit onto the ecosystem. SegWit is a major overhaul and I could see many more miners and nodes dragging their feet on SegWit once they know the next 4MB change is easy too.
69.
Post 13932139 (copy this link) (by rocks) (scraped on 2020-04-04_Sat_14.44h):
O.k. If we are going to give some kind of meaningful weight to the words of Todd, then even listening to him in the LTB interview, you can also hear him saying that any kind of Hardfork and disagreement is a bad idea to attempt to hardfork with even a few percentage in the minority.
In that regard, even if he is talking about contentiousness in terms of increasing the blocksize limits, he really seems to be asserting the dangers of a hard fork and having people who oppose the hardfork working on the other side of such a hardfork.
So in that regard, even if Todd may be a bit less than artful in the way that he made his claims, he is voicing opposition to a majority forcing some kind of outcome on a minority (thus he is saying something like: "hardforks are dangerous no matter what and we should go through considerable efforts to avoid hardforks, if possible")
What he is really saying is he and Blockstream are blocking a 2MB HF even if everyone else wants one.
They keep saying a HF is bad if a small percentage objects to it.
What they are not saying is they object to it and so the 2MB HF should not happen.
Unfortunately Bitcoin is a democratic system.
