I'm pretty sure the "Tyrion Lannister" one is misattributed as well. Should be "some great bearded glacier".

https://www.youtube.com/watch?v=j7lp3RhzfgI

Mah shekels!

What happened my fellow finanshul analists?







The Blockedstream blues...     

 

Yours, and literally hundreds of others', too.  

The halvening is coming gentlement. 420 blaze it. 

The Halvening is cummins. Not much to do 'cept count those soon to be realized gainz.

What, you wanna complain about 8 cent transaction fees? PLS.

U guise, this Barclays/Lightning Hub pump is getting a little out of control... donchathink?

I mean, let's pace ourselves, no need to buy all at once. Occasionally, optimism can take the forum of irrational exuberance.

We have been overt about wanting a Core Dev planned fee market at less than 10 tps since the very beginning in 2009 Billy Jo.

Do you want the 5 mining pools to become more centralised?? 'Cause that's what you get with on chain growth. Pls be patient while the monolithic payment hubs can be rolled out.

Mewn sewn boyz.

420 Blaze it.  

Strap in boyz.



$925, sewn.

reproducing it with startling accuracy.

Losing half your market cap in a month ain't all that bad. The Blockstream Bear Hug is bound to stir up a little XMR bubble again soon, if our principles hodl. 

Dude, you're still underwater on your shrewd early BTCeanie investment.

Why would you feel sorry for them?...  for NOT losing as much money as you have? Makes no sense.

And guilt? That's probably how they feel after ruthlessly mocking you behind your back after you tried to rope them into your little neckbeard pyramid pesos scam.

“If at first you don't succeed, Mr. Kidd…” “Try, try again, Mr. Wint.”

Jimbo's managed to elicit a chuckle from me with three sentences. Something you've been unable to do, ever. Now that's kinda funny, or sad, depending on your perspective.


Do you forget how old Jimbo is? He was around in the days before the pesky lawyers had elaborated away all the fun in this world.

Well boyz...

We get to sit here stagnating with artificially "full" blocks thanks to Maxwell and Co, while etherbutters are mooning away with hookers and blow...

Sure glad we got a nice big Blocksteamer plopped on top of what was supposed to be our halving party.       

 

Wow, this is getting kinda ugly.

Everything's gonna be fine right? Cypherpunks write code and such?

Lessee if JJG will buy the tippy top of the ETH trade too.

Watching others get the gains you were chasing three years ago... but with a different token... while you hodl your decentralized Core coins on an exchange. It's gotta sting... a little?

Ruthlessly poking fun at those who cheerleaded Blockstream’s stagnation strategy via central economic planning is a perfectly valid contribution to the ecosystem.

You get exactly what you wanted, and exactly what you deserve. Enjoy.

Sure you could. It's a radical idea, but here goes...

Miners decide their own block sizes.

"They vote with their CPU proof-of-worker, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism."

I missed the part in the white paper where an insular priesthood of infallible devs adjust the economic dials of the system according to their whims and the interests of the VC backed corporation they formed.

Yeah, they seem pretty content with their decision not to rock the status quo boat:



The market will fix all in due time, either by miners tossing out the corruption, or by the market cap moving to a ledger that doesn't purposefully handicap itself at 3.5 tps.

Dat volume on battle for $440 gentlemen, rather remarkable.

(Who else isn't surprised that JJG likes Professional Wrestling, and the exposed asses of men?) 

That’s just JJG being an insufferable twat, as per usual. He’s really concerned with keeping decentralization intact by crippling the throughput of the network… while keeping all his coins in a centralized exchange. You’d have better results explaining your position to a brick wall.

It's been a brutal month guise. You really need to throw salt in the wounds? Well, if it makes you feel better.

Umm... guise?

Cypherpunks write code… and found companies that dredge up $76 mil to be paid back with “innovative and complimentary products, which are highly orthogonal to the success of Bitcoin”.

To New Horizons!

JayJuanGee has no problem with escalating transactions fees and he keeps all his Bitcoin sitting on an exchange.

Explain that shit.

After doubling your money in a few weeks... I imagine you could buy anything you want.

BTC recently?... well, you can now buy 10% less... but it's not for spending, it's for hodling.

(Did you follow mircea after he flapped his cape and left #B-A?)

If you weren't buying ETH at $7.11, you probably shouldn't be buying it at $14.30... ? IDK.

I don't think anyone knows how much capital Blockstream will scare out of BTC before they capitulate. My impression is that Gregory's planetary sized ego would rather see it all burn than compromise.

Transaction fees have doubled (or tripled) in less than 3 days gentlemen. Look at all that room for growth!

This kind of holistic, forward thinking analysis is gonna make you RICH! Mewn Sewn!

Should be any day now...

We're just waiting for Luke Jr to code up a HF max_block_size increase, have it be merged, tested, and binaries released by Core.

From the news desk of Kyle Torpley:
https://bitcoinmagazine.com/articles/antpool-will-not-run-segwit-without-block-size-increase-hard-fork-1464028753

Hey, look! Typical (tiny 225 byte) transaction, 8 cents!! A 100% gain in mere hours. To. The. Moon!

You're misunderstanding...

See:

Bbbbbut our decentralized multi-megawatt-tax-paying-chicken-coops are the best multi-megawatt-tax-paying-chicken coops in all of China Cryptolandia. Let’s have altcoins eat our lunch while maintaining the uncensorable nature of our chicken coops, there’s no other choice.

Pretty simple really.

Coinbase committed the unforgivable sin of questioning the divine roadmap [and business plan] of our Lord, protector of the Rasb Pi's, Gregory Maxwell.


They make a soothing creme for this, you know?

Excited for Segwit Omnibus Changeset hdbuck??! Yay status quo!



Don't worry, your The Realest Bitcoin Client won't understand or validate any of it.



All seven of you...       

Surely this is just a brief pause on the way to JJG's 3 year investment coming out of the red... right guise?

Bye KnC. Guess you shoulda decentralized your operations to China. 

Yeap, we're all about Free Markets here.

?

That's what happens with a perfectly inelastic supply curve, prices go up, supply stays the same. I mean, I provided you a picture.

If it's any consolation... your level of understanding in the field of economics is on par with the Core developers.

That fee paying spam moves to a Bitcoin substitute, check.

Mewn?

Where is choo choos?

Where is rocketry?

Wot will price raise too?

Passionately hating Jews, or any/all non-Aryans doesn't automatically make you a Nazi. There's nuance here guise, Geez.

Well, it looks like we are the New Aryan Wealthy Elite gentlement.

Add one more to the pile.

Well, today, u guise have spent more time playing with lambie than discussing Bitscoin. Bravo, gentlemen.... Bravo.

Quiet in here today. Everyone out wiring filthy fiat to exchanges I bet. Cheap Coinz!

Sure glad I listened to the c0ckr0ach about that collapsing scam token. 

I don't understand all this rivalry between Burger King and Maccy D's. Some people like both.

Now if you want to compare Burger King and Maccy D's to KFCees, that's a different matter.

Cheeseburgers rulez!

This is actually good for Bitcoin, how else do you think we get people to buy our tokens for 500+ dollars a pop?

IGNORED



Psst...  Segwit in April

Jihan of Bitmain says he won't activate segwit until a HF to 2MB for activation in July 2017 is released by core. You should be thanking him for calling Blockstream's bluff (the HK Agreement farce). If miners continued to have zero spine, you really will have 1MB4EVA with all kinds of soft fork cruft and kludges to do whatever is best for Blockstream's products and interests. A hard fork is sort of an election in upgrade policy, you have to wonder why the incumbents are hell bent on not having that election.

It's really baffling to see long time Bitcoiners be so trusting of this one organization. A company that has taken 76 million dollars from legacy finance and venture capitalists... for what exactly? What product do they offer? What is their revenue stream? So... much... trust. From a group that is almost comically distrustful of everything else. Soft forks don't require the permission of anyone but a handful of mining pools, and this is the precedent we want to set for our "decentralized" system. And you wonder why "freaks" are complaining... smh.

Core could have easily coded hard fork segwit, including a 2MB maxblocksize increase for activation in mid 2017... the community would have healed, we would have consensus, and they could still sit in the position of power as the author of the reference client.

They didn't, and will not. You have to ask: why? You might not like the answer.

My impression is that they want to avoid the precedent of any HF at any cost. Just like a dictator will avoid an election at any cost, even if he's guaranteed to win. You don't want these silly plebs and freaks getting any ideas.

He purposefully ignored forgot a critical component of the mining pool vote to change Bitcoin's operation:



https://www.reddit.com/user/Jihan_Bitmain

Segwit will not be active on the network until Core releases binaries for the 2017 HF.

The party in need of (extreme) luck would be Blockstream, if they intend to see segwit activated without Antpool.

The specifics of the HK agreement were clear, and Jihan will be holding them to their word.

Besides, you don’t run a node. You have an exchange hold some bitcoin for you… which makes your opinions on protocol, node policy, and network capacity just embarrassing. Pls resume writing paragraphs of piffle as you farm up those sig ad penny shavings, friend.

The market wanted one of the most powerful miners to block the rewrite of Bitcoin contained in the Segwit Omnibus Change-set unless Blockstream relented on their stubborn refusal to HF increase the max block size, obviously.

See how fun this is?


Nah, I kid, you're probably correct that investors just really like a global wealth storage and transfer system with a throughput of ~3.5 tps.

Insulting your betters, it's just your M.O. eh JJG?

What part of THERE IS NO SEGWIT WITHOUT HF MAX BLOCK SIZE INCREASE do you not understand?

Maybe it's better that someone else holds your bitcoin as an entry in a database. If you had to secure your own... you would have lost them already.


Heh. 

That actually sounds exactly like something he would do. Shake your hand with a sly self-righteous smile and then spit in your face when it came time to deliver on the agreed terms.

I mean, this is the guy who earnestly believes the sun orbits around the earth. And that masturbation=eternal damnation while romping in the marriage bed with 13 year olds is A-OK.

Free help:

The word is spelled pool. Four letters. P-O-O-L. This about the 5th time I've seen this asshattery from you. Stop it.


I'm all for it, and the people (who have invested millions of $ into securing the network) he shook hands with will love it too. However, I would prefer the keccak fork to be 1MB4EVA, or maybe 0.5 MB to cut down on spam miners are currently using to bloat my hdd and stutter my netflix.

Blockstream's entire future is dependent on Segwit. Jihan holds the power to deny them what they need, until they give him what he wants (and can get elsewhere). Playing cute tricks and alienating/insulting the miners (who, so far, would prefer to continue using Core software) seems like a fairly stupid move in this game.

The ability to turn off / take over the production of new Bitcoin blocks before noon on a day of their choosing?

Sir, you cannot even spell mining pool. I don't think someone who controls 25% of the global Bitcoin hashrate cares about your assertions.

No official Core release with a HF for activation in mid 2017? No segwit.

It sure would. I have a feeling they may have to lower it far enough to negate F2pool as well. Say.... 50.001%?


 



$100 flash crash on GDAX

Bilderberg Group is meeting in a couple days. Perhaps they can take up the torch.

Just have a look at the list of attendees... http://www.bilderbergmeetings.org/participants.html

Henri de Castries, chairman of Bilderberg (chairman and CEO of AXA, invested in Blockstream)
Reid Hoffmann (invested in Blockstream)
Eric Schmidt (invested in Blockstream)

They dance well together, no?

A good point.

The liquidity is the interesting part to me. Fair number of trades taking place to balance that closely. Something you don't see with the lesser alts.

^^^^ Horrible lies by a shameless pumper


It's a premined scam coin with ever-accelerating inflation. No one uses it, it has no exchanges or services, and it has been crashing since May 28th. Or so I hear from a c0ckr0ach.

Best just stay 100% BTC, sell your house and buy more at $580, get loans or leverage to go above 100% if you can.

Cheers

They even lie about seeing 1000% gains in 2016. Just jealous scam victims.

They will remain poe.

There's a chance that not everyone who bought in at the very tippy top of the All Time High and spent the following three years trying to dig out is here to personally troll you, ya know?

Good news! As Bitcoin's throughput is currently capped at less than 3.7 global tx per second... You don't have to compete to have your value transferred, there are now other options! Bitcoin can crawl slowly to its destiny of being high-powered central bank reserve settlement money... while general use and commerce can use something else. You see, while Bitcoiners battle each other in competition for inclusion, Bitcoin itself will be competing with other networks. Free markets ftw.

There will be no "fee event", as excess use cases can easily flow across the interwebs without competing for inclusion in a centrally planned artificial capacity quota! You won't even have to deposit and lock-up BTC in a payment channel that must stay continually connected to its monolithic hub partner. What a world!



https://medium.com/@lamassu/lamassu-announces-official-support-for-ethereum-9a4c1d8dc20b

Yep, I always plan for future world domination by using utilization and price data from today. Top minds...

Another astute observation Mr. Gee.

"Just because you're paranoid doesn't mean they're not after you."

Yeah, I forgot about Segwit in April.  

[Remember a couple months ago when you would remind me how cheap it was at 25 satoshi/byte? I do.]

Uguise ain't nervous, right? You don't sound nervous.

Times have changed.

"So good to see you.
I've missed you so much.
So glad it's over.
I've missed you so much
Came out to watch you play.
Why are you running?"

Way to commit, man.

The picture's not doing it for me right now, Dignan.

Maybe stop being newbie scum, hmm? I see you've already got your sig in place, ur gonna go places here.

Why is ETH rallying for the BTC halvening? 

Shouldn't premined scam coin be going down while we moon?

Also, you can currently exit BTC at a higher price than NLC did. Will you?

How would I know?

I'm just a somewhat inept pretender... the real NLC has been retired three years and living like a king in Patagonia.  

Really? It's captured almost 13% of Bitcoin's market cap in less than a year.

Mining it is really profitable, and accessible to the avg user, unlike the megawatt warehouses of the decentralized BTC.

To add insult to injury... it's rallying harder than the coin that is actually having its inflation halved:



The mindset that BTC's inertia is insurmountable is a dangerous one. Especially when its dev team is committed to crippling it in favor of as-yet-non-existent payment channels (channels that have huge incentives for centralization into monolithic hubs btw).

Pffffft, what am I thinking? Let's moon this biotch!  

It's mostly spam.

The fastest and cheapest transaction fee is currently 80 satoshis/byte, shown in green at the top.
For the median transaction size of 258 bytes, this results in a fee of 20,640 satoshis (0.13$).

Sure glad we listened to Maxwell and didn't hardfork to 2MB, oh, maybe 6 months ago. We protected decentralization of the megawatt warehouse farms instead.

Found 35 seconds after previous block.

Found 92 seconds after previous block.

Found 23 seconds after previous block.



An expert like you should really know about why these happen by now.

Oh, you're just using it as propaganda against the guy who is calling Maxwell's bluff on the 2017 HF.... carry on then.

The decision of whether or not to risk an orphan that soon after a found block is up to the individual miner, doesn't bother me in the slightest. I also wouldn't care if miners individually decided to use 750 kB as their maximum size. My problem is with Blockstream using the 1 MB max as a tool for central economic planning.

Honestly, I'm caring less and less about it these days tho. Bitcoin doesn't have a monopoly on cryptographic value transfer and it will be cathartic to see Blockstream and their enablers (that's you) learn that the hard way. 

Fun fact 1: JayJuanGee keeps all his bitcoin as an entry on an exchange's database while droning on about censorship resistance and the magic nature of the 1MB limit. He doesn't run a node, never has. He's also immune to the irony of this situation.

Fun fact 2: Ethereum is secured by miners, a more decentralized group of miners than Bitcoin too. Changes can't be made to it unless miners agree and run the software that makes the change, same as BTC. Claiming otherwise is spreading FUCD (whatever the fuck that is).

Fun fact 3: When/if Blockstream is able to drive the majority of transactions off chain to LN type payment networks... the well funded and well connected will be running lightning hubs and siphoning fees away from miners, read: centralization and lack of funding for mining security.

If he has one redeeming quality... it's that he's honest enough that he won't deny it. He's admitted it before, and doesn't claim otherwise when I remind him. I would stop saying it if he would simply type that he runs a node and doesn't keep all his coins on exchanges.


And currently... miners of BTC run whatever core puts out. Users run whatever is listed on bitcoin.org. If they run and activate segwit... we will see that Bitcoin is quite mutable. I guess you will be quite ashamed when the rewrite of Bitcoin that is segwit, activates.


I agree it's not a measurable variable, nor even really relevant when a small number of megawatt burning warehouses provide the "decentralized" security.

There's a reason Blockstream/Core wants to make on-chain transactions expensive and uncompetitive... they're going to be selling you the medicine for your "disease".

In their arrogance they discount/ignore the fact that there are competitors to the Bitcoin network that will be gleefully sweeping up the transactions and investment that won't fit in an artificially crippled Bitcoin.

Cheers 

See, he is honest. I told him how easy it would be to shut me up about about the node/coins on exchange issue... and he didn't. I do respect that.

While Vitalik is very important to the project, rightly so IMO, he isn’t a god. There are some very smart people involved with a lot of value on the line with the incentive to vet what he says and does. You are aware that there are 7 different client implementations in 7 different languages: Go, C++, Python, Javascript, Java, Rust and Ruby? That the inflation schedule by % outstanding is infinitely decaying?

Your concern applies equally to Bitcoin Core, at what point does “I didn’t know segwit would do that” come into play?

I agree that Ethereum seems willing to take on more risk than Bitcoin, that can be a good and/or bad thing. It’s important not to get too religious or tribal about this stuff… it’s software. To be honest… I wouldn’t have diversified at all into ETH this year if it wasn’t for the 1MB4EVA crowd. Network effect is a powerful thing, not an all-powerful thing. Granted it’s played out fantastically for me financially, but I would have rather seen BTC grow gracefully without centrally planned production quotas. I'm more philosophically and emotionally tied to BTC. The small blockists forced my hand here. After playing around with ETH I realized it had some very real advantages… 15 second confirmations, ASIC proof mining, natively more capable with contracts and scripting. Pretending that it doesn’t exist as a competitor is a fool’s errand.


These warehouses create new blocks. Without them, Bitcoin doesn’t work. With control of them, Bitcoin can be effectively censored. The majority of them are located in China, under a government that has a fairly dim view of intellectual and financial freedom. You can stick your head in the sand about it, but that doesn’t make the issue go away. The only reason I raise it is because the Blockstream crowd likes to drape themselves in honorable cloak of decentralization, when the reality of the situation is in stark contrast. 


Bitcoin isn’t competing with major financial institutions (yet). It’s competing with other cryptographic value transfer protocols. Keeping 1MB max is a competitive disadvantage, it also gives undue economic power to the devs with their hand on the maxblocksize lever. We now have a central bank of Bitcoin, and it’s called Core. Maxwell is the chairman of the board, not by election, but by social standing on IRC.


This is all well and good. My only problem with payment channels is that they are having the playing field (intentionally) tilted in their favor. I support their competition with on-chain transactions in a free market scenario (miners choose their own block sizes and min fees).

@JJG just type it and it's over, I won't bring it up again. You won't... For the same reason you admitted to buying $1200. You're too GD honest. 

He can count me... so there's a we. (Though I suspect there are more of us.)

Wow, BIP’s not in the roadmap of Gregory’s email to the mailing list… And they haven’t found support among Gregory, his employees, and his IRC buddies, imagine that.

If you recall, there was a meeting in Hong Kong to stop miners from running and activating Classic? Blockstream sent several team members there to give the illusion of authority? Remember?

Now, the rug has been pulled from under the miners at that meeting by luke-jr (a blockstream contractor):



After being made to look like fools… what do you suppose the miners are thinking right now?



Wake the hell up, friends.

There's a scheme called "uncle" blocks where orphaned blocks get compensated for their effort.


Obviously less than one 10 min BTC confirmation, but it's nice to have a continuum vs waiting 30 min for an unlucky Bitcoin block.


I'm not sure, but if they want to, they'll pay the gas costs.


I think he'll probably stay pretty heavily involved, but like satoshi, the system doesn't stop if he does. I think that there would be a massive sell-off if he left, but that just means he is valued highly, and an asset to the future of the project.


Which would be pretty damn bad. Something that isn't so easy with a couple hundred thousand GPU's scattered across the world.


Obviously there are technological and practical limits but I'm pretty sure that 1MB isn't the magic number. I like the concept of Bitcoin Unlimited, a decentralized method of arriving at a schelling point for maxblocksize. It doesn't just mean "Accepts Unlimited Block Size" if that's what you think/have been told.

2017, apparently.


You raise some good points above. I see ETH as a hedge to BTC's fear/capture around the issue of native growth, not as a turn key replacement.

As for Bitcoin Unlimited and mining support? Miners entered an agreement, with what was thought to be representatives from "blockstream" and "core".  To not run "incompatible" software for the "foreseeable" future. As luke-jr now thinks a HF is 5 years away... and no problem for 1 to 2 years... I see some conflict brewing.

Well if it's a tinfoil party...

Now we must ask why Blockstream, largest investor= insurance giant AXA... CEO of which is chairman of the bilderberg group (no joke)... is complicit in driving Bitcoin's potential userbase to ETH:

lol @ uguise planning world finanshul domination while your 3.7 tps is pegged to the floor, legions of newbs complaining/confused about their "future of money" stuck/gone?, and a VC owned dev team led by a neckbeard with a death wish against fixing it...

puff puff pass da hopium boyz

You're not being accurate with a "few" cents anymore.

We started this argument months ago and you said it was no problem because 2 cents, a little later... 4 cents... then 10 cents... now we're talking 19 cents.



In your subjective opinion... when does it get high? 25 cents, 50, $1 for one of the smallest transactions you can make?

ETH investors love blockstream sycophants like you.

Look, I'm not trying to sell you on ETH. Do your own research.

I'm simply saying that this arrogant attitude about Bitcoin becoming expensive and unreliable to additional users is BAD, and GOOD for any substitutes.

I only raise ETH because exchanges are widely implementing it and it feels like only a matter of time before Bitpay and Coinbase start offering it for their merchant services. Those in control of Bitcoin's roadmap are pretending that it has a monopoly on cryptographic value transfer... it doesn't.

Hopefully the miners will fork off the sycophants to their own 1MB4EVA keccak altcoin this summer. Then, they can central plan to their little heart's content.

My car will never go 300 MPH, and would break if it somehow could. Does that mean I should keep a speed limiter in place to keep it under 10 MPH?

Also, you didn't answer my question... next!

And not everyone on the planet has to run a node.

You're thinking like a monopolist again. The first mover advantage is not a sufficient barrier to competition from cars that do 20-30 MPH.

I remember you used to write somewhat coherently on raising the blocksize, if not everything else, what happened? Drank too deeply from Gregory's cup?

Quote where I argued that microtransactions should be on-chain. Oh, I didn't, you just erected a straw man.

My argument is that the only people who should be setting pricing for block space are the producers of that space, the miners. You argue that production quotas determined by an infallible priesthood of blockstream devs are the only thing protecting Bitcoin from inevitable collapse.

Free market capitalism vs central planning by corrupt technocrats... My... how Bitcoiners have changed. 

Nodes are an enforcement mechanism, but by no means do they decide the size of blocks to be produced (until we hit the anti-dos limit from 2010 recently). If the dos limit was lifted, miners would resume sizing blocks according to their own supply curve and the demand curve they serve. I somehow doubt miners would cram all blocks full to the new limit with free transactions, it would not be in their own interest to strain the node network in such a manner.

Just admit it, you think the economic incentives that satoshi used to design Bitcoin can’t work, and you need Gregory and friends to protect you from free market capitalism and the incentives that make it work.

Keep on guessin' friend. I specifically told BMB that it was really risky to be buying ETH at the $14 top months ago. I have said that ETH acts as a hedge for me, a contingency plan in case Blockstream's grasp doesn't falter.

I've been in Bitcoin since the summer of 2011, heard about it originally on Steve Gibson's podcast. I've sold plenty along the way, some higher than today, some much lower. I've bought some damn good panics. The only reason I bitch so much about this issue is because I care. It pains me to see BTC's huge advantage being chiseled away.

When I go silent for good, you'll know I've sold everything and am not coming back. Criticism and dissent are an important factor in avoiding group-think, you should be thanking me.  

So... has anyone here actually bought a coin for $700+?

(serious question, JJG is exempt)

You would probably be more glad if you had sold them and bought them back at $200.

Thanks for answer tho, anybody from this 2016 run?

@JJG I am this close to putting you on ignore for your trolling and insubstantial posts.

I didn't get a single person admitting they'd bought a coin for $700+ this year. 

Hard to believe they will be buying $2000 hard enough to double the ATH. People have waited years to hit these levels, you don't normally get second chances like this.

Once the euphoria is so strong that you're dancing around the room... it's probably time to start tip-toeing towards the exits.

lel

You forgot the part where they form a company, take $76 million from VC and legacy finance, issue themselves shares in said company... Soon™ this company will bring to market revolutionary strings of LED christmas lights that screw into the socket of the burned out bulb.


Just what the forum needs, more signature campaigns... 

IDK why anyone would feel uncomfortable about copying RichyT's ChartBuddy, the guy was advocating a controversial hard fork to increase Bitcoin's throughput. Translation: Trying to KILL our beloved and immutable status quo BTC.

Segwit in April

Nah

Satoshi did the amazing work.

These guys are busy perverting and crippling it to incentivize take up of Blockstream's solutions to the problems they cultivated. They'd make way more from an IPO than from an appreciating BTC. Follow the incentives.

Might I recommend the "ToominCoin aka "Bitcoin_Classic" #R3KT" thread?

Nope, but I did enjoy cypherdoc's gold thread for years before it was summarily memory holed by the party.

If Core would have executed a small can-kick HF to 2MB 6 months ago, while segwit is extensively tested and wallets were given time to upgrade... I wouldn't have a bad word to say about them. Their own (in)actions and employment of censorship led me to consider more nefarious and self-serving motives.

I'm sorry Marcus, forgive me? The mods have shown me the error of my ways.

There is a tectonic shift bringing unfathomable amounts of fiat into this coin very sewn. $770 is holding strong! $800 tonight!

I've never felt so bullish, time to wire some more money to the exchange.

To The Moon!!!1!

Now that ETH is hacked and dead... it is only a matter of hours before $800 is breached, for good.

Hope everyone remembered to pack their moon boots, we're going to need them.  

The price has doubled recently, so there will be no real change for miners when the reward halves.

But ur right, FUCDers r gona du what FUCDers du... FUCD. They will stop at nothing in there efforts to destroy Bitcoin, which is strong because it never changes. Status quo baby, fork off if you dun't like it.

Meanwhile, the big boy buys just keep rolling in for $7xx coins.

Only if you can provide proof of steak, tomorrow morning.

This is actually good for Bitcoion.

Well said, mate.

Hope everyJuan got their bids filled before these wide-eyed rubes shrewd value investors arrive on the order books.

$800 2nite?

That's a tidy profit of several hundred dollars. Nice work JJG, keep it up, I'm proud of you. 

Those CNY volume numbers are rock solid too.

@toknormal: Will be interesting if this is the laboratory for a true fork of a sizable network. The only principled decision is to be firmly against the blacklisting and the bailout/reversal of TheDAO's failure. If PoS needs to get tabled for a while/indefinitely, maybe that's what happens.

We're all entitled to our own opinions, however wacky. It is how the IRS views it, tho.

I'm not. Yes, treatment varies by jurisdiction. Assuming US tax law... I'm pretty sure everything you subsequently stated is bollocks, and you should be ashamed for possibly misleading unwitting readers. That's like saying my stock trades are only counted as gains/losses when I wire money out/in of/to my brokerage account.

You can choose to pay taxes or avoid them, that's a decision everyone has to weigh individually.

*Not tax professional. Consult your own counsel. Information provided without warranty or guarantee.*

My understanding of the US treatment:

Capital gains/losses are calculated at the time of sale from the original purchase price, using FIFO or LIFO, as long as consistent. Mined coins are counted as income at the time and value of when they were mined, and, at that point, become a cost basis for capital gains.

JJG is confused about when the gains are realized... it's at the sale of the asset, not a balance of the USD you've sent/received to/from the exchange or brokerage.

Actually, I'm confident I quoted your error explicitly, here:


Also... not lambie, you should be able to tell the difference by now.

This ironclad logic is exciting. Say...

I've got some coins I only value around $1158, who shall we use for escrow?


Fairly dramatic rewrite of how Bitcoin works, including its fee economics, to be soft forked onto a live network while 62% of the node network doesn’t use the latest release.

With the ability to deploy 29 concurrent soft forks via BIP9… mining pool ops could fix any problems in flight with most nodes not even noticing anything had happened…

Also exciting! and Bullish!

Weeks of euphoric grinding to new and exciting heights, then one day of watching your dreams dashed on the rocks below.

Welcome to Bitcoin!, gentlemen.

Could you perhaps tell your contacts to lighten up on the announcements?

We've all been a bit overwhelmed by all the Bullishness lately.

Translation: Bitcoin's principle value is serving the needs of the criminal underground.

This is actually good news! To the Mewn!

"So what are u in for?"

"You know, the usual, regulatory arbitrage."

Also interesting how herr theymos' comments come on the day that "fully regulated" (eww) Circle Financial put people’s transactions in indeterminate limbo because of "spam-level" 40 sat/byte fees.

Especially interesting when miners already use blue blockstream matt’s relay network instead of compact blocks, making this whole "compact blocks allow segwit's 4MB attack surface" mantra utter BS.

Would it be wrong to say that the “totally unpredictable” collapse in BTC price started the day Core Media stated that segwit would be coming april july 7th without the 2MB non-witness data HF for 2017 activation that was promised to miners at the HK meeting? Maybe... though I remember the same dastardly things being said (and made into charts) about Classic.

Not really, this was the halving pump. Take a look at litecoin for how those work.

Altho, I've learned from the best... the means justify the righteous ends, apparently, right? Like moderation... funny word that.

We shouldn't nerf the world. Like Marcus and BitUsher have said (shudders)... an unarmed populace is akin to a herd of cattle.

To the Moooooon!

Banning cars could markedly reduce the incidence of death by vehicle. But beware, someone might still be able to buy a multi-tonne missile (car) on the black market tho.

Personal liberty and responsibility has its blood price. Same for the lack thereof.

Luckily we get to watch Ethereum do it first.

They're stuck between a pool of molten steel and an angle grinder.

$693

Alright gents, line up, turn'em in, Hairy's got an impenetrable argument here.

You jest, but...


https://www.reddit.com/r/Bitcoin/comments/4q3ztw/a_call_for_core_developers_to_clarify_their/d4qh3f8


250 coin finex sell wall guarding $650 like a bozz.

It's all just noise between the occasional whale splash. I just put that in so my reply to an off-topic post wouldn't get censored, again.

If applied evenly, it would be called moderation. As it is applied selectively to those deemed "trolls and shills" by the party, it's called censorship. So now you know...

Cheers!

$800 2nite?

From the book of knowledge:

"Censorship is the suppression of free speech, public communication or other information which may be considered objectionable, harmful, sensitive, politically incorrect or inconvenient as determined by governments, media outlets, authorities or other groups or institutions.[1]

Governments, private organizations and individuals may engage in censorship."

So you're wrong, which is OK, realizing the depths of one's wrongness is the path to enlightenment.  

Fine, $700 2nite?

7%? Dang.

We should have these rumors of miners using Nakamoto consensus to increase Bitcoin's throughput more often. 

To the minute eh? The rumors/posting were out hours before the jump, and the lack of any denial from the miners escalates the chance these events were correlated.

p.s. *gasps

Oh, don't you worry about that sonny boy...

Besides, can you imagine how long it would take Jimbo to cash out 300 BTC worth of loonies from that silly little ATM?

I'm sure that's what Roger is after, forgiveness from BitUsher.

Speaking of LN, we already knew this, but Peter Todd needed some attention again. Ironically this weakness is made dramatically worse by artificially small and regularly full blocks:



$700 2nite? 

In my mind, if ETH hard forks to bail out reckless investors in the DAO, it’s over. It may live on, in some form, and with some market value, but I’m not interested. If they don’t HF to bail out a faulty contract, or if a minority branch survives… that would be more interesting to me.

We could see miners activate some kind of increase, maybe at 90% of blocks… and then manually limit themselves to 1MB for a while. They would be exercising their free will and sending as strong a message as possible, but without the traumatizing effect of forking the network right away. They could wait until they felt confident that the economic majority was behind them.   

They would have to HF at least once, to change the PoW, but that’s their choice. The other Bitcoin would have moved on without them.

Don’t bring non-neckbeard politics into this. I would say it’s the contrary. Think deference to the power structure of the status quo, pulling the heart strings about “the least rasb pi node among us”. Plus, the narrative is spoon-fed by centrally controlled channels of information.




The bible can’t even pretend to have the moral integrity of the US constitution, not without inciting laughter. (Examples of it being ignored are not indictments of the principles therein.)

Some consolation.   

 

We will simply fork to keccak altcoin if chinese mining cartel threatens to increase Bitcoin's capacity.

Soon.

It's FUCD. Don get it twisted, institutional investor JayJuan"AllMyCoinsOnExchange"Gee said so. Buy Buy Buy! Or, just keep hodling like Marcus, he ain't no fool buying $600 coins.

(Is dragon sleeping again? He looks a little droopy going into the last "bullish backstory for loose rubes" event pre-2020.)

Is it just me? Or is that last "6" candle looking kinda melty and droopy?     

Segwit in april.

$700 2nite.

It's not us guys... it's one guy/gal. And if you need a hint, you don't deserve to know.


A disruptive black swan, extending its wings, ready to take flight... duh.

You think it's adam deleting posts??? Wow......... you're exactly right.

Segwit in April did fucking bump the blocksize to 2MB.

Gah, when are you people going to understand that Bitcoin wasn't made for your spam coffee transactions! Pay up suckas, rasp pi nodes with 128GB sd cards on LJR dialup need protection from the likes of yous.


https://www.reddit.com/r/Bitcoin/comments/4snk48/roger_ver_and_his_supporters_are_pushing_policies/d5az57z

Capacity isn't a problem when there are hundreds of competing networks happy to soak up the investment and use that BTC doesn't want...

Cool, 2 da moon! 

(btw, nioc wasn't using it for commerce, he ain't no idiot, he was doing exactly what you're supposed to do with BTC, 1. buying it, then 2. HODLing it. He got held up between 1 and 2.)

Ahhhhhhhh.



IGNORED

I know just the place...

Remember when yous guise would tell him to calm down, it's only 25 sat/byte... yeah, me too.

Well, we're only up about 300% in a few months, not bad.

Prolly won't go much higher... as others have said, we'll just bleed use cases and users to somewhere else. Good thing utility and adoption has nothing to do with market value.

Segwit in April oughtta help tho.

Turning a decentralized P2P cash system into a quasi-centralized Hub and Spoke clearing system.

I think I understand it now.

The only thing I don't understand is why the miners would destroy their own business.

A few points...

Did you mean contentious hardfork? We should get a good understanding of how those work over the next couple days. (FWIW, I disagree with the ETH hardfork to bailout theDAO, but do think it will provide extremely valuable data as to how a network split is resolved by mining and exchange activity.)

A capability-bifurcated node network through segwit softfork is ugly, and some would say immoral. People like Mircea Popescu can and will proclaim pure segwit to segwit transactions to be a merge mined altcoin, and he won't be wrong. It further cements the idea that dramatic changes can be foisted upon the network without node consent, with only the approval of a handful of mining pool ops. Leaving regular full nodes blind to the fact that anything had changed isn't a positive imo, and it will be used in the future once the precedent is fully accepted and normalized. People who tout protocol immutability as an intrinsic value should be screaming against soft forks, yet they cheerlead them.

A successful HF to increase Bitcoin's capacity is about the most bullish scenario I can imagine, too bad it has been successfully painted with a black brush to the point we may never see one in Bitcoin. After all, anything that could be done in a clean HF with full node consent can be SF'd in a "creative" way with only miner consent.

I don't get your last statement, we stay bullish for at least a year while we wait for the hub and spoke gift card BTC-IOU to emerge into functional form? Do you sell if/when it crosses the vapor barrier?

We know that 0.13 rc1 is minutes away from release, and it won't contain segwit... so the network operates at capacity for how much longer? Where do these new users and use cases fit in to provide a bullish scenario? Are we just banking on world financial armageddon to happen so scared plebs send their savings on wires to exchanges and become a new generation of baghodlers while we buy boats and lambos?


You got any arguments? or just name calling and random numbers pulled from your rear?

Who's we? I can assure you it's not me, I didn't sign on for this, at least not in this crufty soft-fork-via-opcode-sneak-mode form.

The critical question is whether the miners will bend the knee.  [and it will indeed be that, given the apparent likelihood that their side of the hk agreement was turned to confetti before it was even signed (the warning signs were so clear with that scuffle over adam back's title on the document... lawyers were consulted, that's for sure.)]

It will be a (the) crucial moment and decision in the history of Bitcoin.

It is a gift. We get to analyze something we haven't really seen before in a coin with a relatively high value. I bet the non-DAO bailout side will live on, in some form. Just like a losing 1MB4EVA with keccak side would live on, in some form.

Not a question of should, but "can" it? If it can and people want it to, then it should.

It's for much more than a megabyte. It's for the literal destiny of the project... and more succinctly: money.


....

Let me introduce you to the 1% malcontent you have now deemed god-king.

The free world isn’t waiting for a bump, but they do see that new sign at the door. We gracefully rose from peanuts to 1MB over 6 years, no reason for the miners to let it get bloated with free tx immediately to the new max.

yeah, and those that showed up, saw the sign and turned heel.

1 huge Muddled Mint leaf, crushed superintelligence, 1/2 oz mint-infused simpleton syrup, 2 oz of power, 2-4-8 dashes of bitters… we call it… “The IPO”.

That Nakamoto character might have been on to something...

That's just an empty threat to the miners. The stick in the stick/carrot basket. Come to think of it... did Blockstream's basket even come with a carrot?

If not, someone give them one... it's getting embarrassing. And that stick is looking fairly flimsy today.

No. The code does exist. Gregory stated "the candidate code is ready".

I think it would have a nice hashrate for a GPU coin, at least shortly after the moment of forking, maybe a bleed off from there. It would probably have a market price. But as we saw today, the vast majority of exchanges and hashrate together, is pretty convincing when it comes to this type of thing.

More likely is that we will see the miners possibly delay segwit, a compromise from Core (lol), or, they could announce in august their own plan and suggestion for hard fork terms that will likely mirror the hk agreement, but with a contingency plan.

The miners could also activate the code, but make the decision to not (yet) fork above 1MB, to extend a grace period for nodes.

1. Fair point, but rushing things and springing them on the confused node operator or investor isn't the best idea either.
2. Nah, that would just serve promote a sense of injustice and tyranny they have no interest in promoting. Clear communication, plenty of time for node operators to upgrade would accomplish much more. No need to fight dirty if you have the backing of the market.
3. keccakcoin? or Bitcoin that had performed the upgrade described by satoshi, with the method he baked in?

P.S yep, https://github.com/bitcoin/bitcoin/pull/7410/files
P.P.S. I can see why you're out then, it hasn't been that way for a long time.

They would reset the difficulty and there are plenty of shitcoin mining GPU's that would hop over for some fun. This isn't about numbers for them, it's about ideology...


It's not a good idea to spit on your customers... simple as that I think. They will raise fees maybe in the sense of delaying segwit... but arbitrarily giving the finger to users... sounds like a good way to bolster the 1MB altcoin that wants the crown.

Oh it will become clear, one day. I'm not sure which one of us is going to have to wait longer, tho.

(Also, luke jr... sane?... lol)

Take a look at ETH classic, it is chugging along with like 3.5% of the hashrate, and hasn't been attacked yet. You don't need turnkey farms to spin up an ideological altcoin.


It's not Miss Manners, it's self interest, this here contraption is a greed machine. It's why ETH forked for the wrong reason, and why BTC will fork for the right reason.

Yeah, not a shocker.

The argument seems to be that if we HF to improve throughput... we go straight to transaction rollbacks and changing the emission schedule. Slippery slope argument writ large.

Their real fear is that people will find out that when it comes to Bitcoin's decision process... hashrate means more than the personalities in an IRC clique.

Is the solution still r3kt?

Yes? Good, this is fine.


Bow down before the one you serve. Y...

Or... you are, and just don't know it, yet.

Wouldn't that be poetic?

Who said anything about ether? Your elective procedure would be wholly without anesthetic relief.

Well, you're still part of the problem, just a little less hypocritical now.

Run with    -minrelaytxfee=<amt>  or edit your .conf. Use 0.0005 for <amt> to only relay tx with 50 sat/byte fees. 

Then, you will at least be feel like you're making things a little tougher for those poors who conspire to spam our chain with their silly transactions. Don't make the mistaik of giving them succor, make them suffer.

You're downloading and verifying every transaction that has happened in Bitcoin, ever. About the size of two blu-ray movies now.

If you have a decent amount of ram on the system... try increasing your dbcache to speed up verification.

-dbcache=<n>    say n = 2500, would allow the process to use 2.5GB of ram vs the default of 100MB.

Ah yes. Altho I didn’t specify the method of verification.

Technically correct, irrelevant in practice, leading to maximum non-wizard befuddlement… classic Gregory.

It's a flag like everything else, -prune=<n>, on a command line.

Pruning the size of your installation won't help you speed up an initial sync though, you still have to chew through the whole thing. That's where increasing your dbcache could help.

You could do it in well less than 8 hrs with a nice computer and an enlarged dbcache. Rasb Pi or a lightly provisioned vps could take days. Once you're synced, the life of a node becomes a little more relaxed.

P.S. I think ETC discussion is allowed today, at least it is on r/bitcoin. 7% of the price, and 5.5% of the hashrate... never a dull day in cryptoland (well, some dull days, but not today )

P.P.S. I wonder if vitalik regrets the quick difficulty retargeting right about now...

Yes, BTC is dramatically more resistant to the success of a small minority fork.

That’s why the “fire the miners” keccak code is there, ready, lurking… because when voting with hashrate doesn’t go your way… you change who’s voting.

1MB4EVA! We did it gentlemen!

Wiser words were never spoken. Wharton School of Business?

FTFY

Contentious soft forks are the way to go, what better way to change our immutable protocol than by dragging along all those who disagree with us? It's the cypherpunk way.

It’s a shame Barry sold off Second Market. It would have been nice to be able to hedge by buying pre-ipo Blockstream shares.

Venture capitalists, insurance giants, and shrewd founders get all the spoils. All I got was this silly T-shirt. And wouldn’t you know it, it’s a SMALL. fml.

You were.


SFYL? 

Unpossible, Phillip G. Potter migrated to a new datacenter.

Of course it wasn't insider information, I'm not an insider.

Reading comprehension tho, good mayor kern. I was talking about ETH, the one with the bailout.

Let's be honest. The only thing you'll be shorting is that homely waitress who failed to promptly deliver your Kokanee.

It's a shame your logic is completely inconsistent, putting your lack of learningz/moral prinicples on full display. You lower the bar for controversial changes to the "immutable" protocol, simply because my zombie node doesn't understand wtf is happening and 5 chinese dudes rubber stamped it? Your friends are running the show now, making these forks nice'n'comfy for you, will they always be? You can soft fork in some really nasty stuff, when it happens, will you think of me? 

This is exciting.

All the puzzle pieces are coming together... Elements Sidechains are orthogonal, yet highly complementary to Bitcoin's value proposition... I hear.

Green Address has been a staunch supporter of Gregory's "avoiding scaling" roadmap from the beginning, nice to see them get their deserved cut of the VC booty.

Got their hands on the elusive Blockstream shares too...

"We're players now, boys, let's celebrate! Salute!"

On the way to the Porsche dealer? Who happened to have a 997 GT3 in iCEwhite with controversial steel brakes?

Seeing alts take turns exploding in value isn't enough to make miners risk rocking the boat by firing the captured Core.

They aren't going to do squat against the Blockstream/Core junta until we get a good 'ol fashioned price tanking... and $666  to $570 ain't it.

Judging by the volume numbers, sure looks like the clock is counting down tho.    

https://twitter.com/muxiaoliang/status/769756137545617408

What could it all mean?!



I might know, if my information stream wasn't curated so carefully.

https://blockchain.info/pools?timespan=4days
https://twitter.com/ViaBTC/status/771378443850092544
http://fintechist.com/worlds-sixth-largest-mining-pool-trialling-bitcoin-unlimited/
https://medium.com/@ViaBTC/battle-of-hash-rate-he-quitted-tencent-and-started-the-worlds-sixth-mining-pool-viabtc-a99601e919f5
https://twitter.com/ViaBTC/status/770897442376065025

sustained 11% could block the soft fork segwit rewrite indefinitely... bullish

independent people, with big dreams, relishing small victories, dedicated to a larger future, a future where Blockstream will have to compete, rather than co-opt...

Ain't it obvious?? You bunch of ingrates!      

ViaBTC issues statement on yesterday's decision to mine BitcoinUnlimited blocks exclusively:

https://viabtc.github.io/

Google translate does a hilarious but probably sufficient job.

Only if the Chinese miners continue in their efforts to unblock the stream.

There is hope yet, my brother.