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I think it's basically Hearn rage-quitting because his XT change was rejected by the vast majority of miners.
 
Idaho said:
I think it's basically Hearn rage-quitting because his XT change was rejected by the vast majority of miners.
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This. And "forum censorship" :D

Where do I look for the effect of this on the price? (Or exchange rate or whatever I'm supposed to call it.)
 
There are Chinese miners I believe. The btc universe has a small minority of people (Americans and Europeans) who follow the English language news and western markets and seem to ignore the majority market and news in China.
 
camouflage said:
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Like a bunch of 17th century physicians cutting up a frog looking for a soul. Regulators can help..blah,blah silkroad was scary blah blah. Look at Netscape blah blah....

Internet development was driven by porn , that state would rather have regulated to death. Silkroad et all drove bitcoin coz it was beyond regulation... The likes of applepay can happily work do the same with state currencies . The magic was in the statelessness.

I can see why the suits would want a fireproof bolt hole, should we endup in another bail out...thankfuck it's fucked now not after. That said its staying steady but I wouldn't touch it having read that article...The suis might have a game of who's who's bitch with the seven developers though,l guess they really like tulips
 
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gosub said:
Like a bunch of 17th century physicians cutting up a frog looking for a soul. Regulators can help..blah,blah silkroad was scary blah blah. Look at Netscape blah blah....

Internet development was driven by porn , that state would rather have regulated to death. Silkroad et all drove bitcoin coz it was beyond regulation... The likes of applepay can happily work do the same with state currencies . The magic was in the statelessness.

I can see why the suits would want a fireproof bolt hole, should we endup in another bail out...thankfuck it's fucked now not after. That said its staying steady but I wouldn't touch it having read that article...The suis might have a game of who's who's bitch with the seven developers though,l guess they really like tulips
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Still with the tulips eh. :facepalm:
 
gosub said:
How many paradoxes in the is experiment, collapsing because of tech difficulties in meeting demand, due to ineptitude of vested interests of effectively a momentary policy committee, the absence of which was the USP of. the currency
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Don't beleive everything you are told by people working in finance.
 
camouflage said:
Don't beleive everything you are told by people working in finance.
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Actually think this is the best critique of why its fucked (its non finance). If you think about it, this central core of a handful of developers, probably has one that represents the vested interests of JP Morgan, another Goldman Sachs another Bank of China, who may in the end reach an agreement on whose turn it is to bend over, but from now onward, you can see what you are buying into is a formalization of what went unsaid in 2008 -the banks being more important than anything.

camouflage said:
Still with the tulips eh. :facepalm:
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Coz the lessons of history don't go away, at least with tulips you got a flower you could look at, a bit coin?-some arbitrary ultra-complex maths that doesn't even do something useful like help crack Fermet's last theorem. Its value is in people value it -If there's lag in processing that opens the way to rubber bitcoin which can only put people off general adoption.
Bloody useful in bank clearing though, a global equivalent of the £100 million pound bank note,that and China's announcement that it wants to do a crypto currency (though thats not the same as saying China is launching a Bitcoin takeover) is why it stabilised.
 
Slack-for-iOS-Upload.jpg


Oh, Bitcoin, save us from the enormous banking corporations.

Blockchain hype storms Davos | FT Alphaville

It’s all so wonderfully circular.

Boy meets disruptive network technology protocol. Boy becomes infatuated with disruptive network technology protocol. Boy invests at least three years worth of savings in a life together with the protocol. Protocol becomes power needy. Protocol gets concentrated in the hands of a few. Boy has heart broken when protocol runs off with the banking elite. Boy resents protocol for having stolen his heart in the first place. Boy pledges to never love again…
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gosub said:
Actually think this is the best critique of why its fucked (its non finance). If you think about it, this central core of a handful of developers, probably has one that represents the vested interests of JP Morgan, another Goldman Sachs another Bank of China, who may in the end reach an agreement on whose turn it is to bend over, but from now onward, you can see what you are buying into is a formalization of what went unsaid in 2008


Coz the lessons of history don't go away, at least with tulips you got a flower you could look at, a bit coin?-some arbitrary ultra-complex maths that doesn't even do something useful like help crack Fermet's last theorem. Its value is in people value it -If there's lag in processing that opens the way to rubber bitcoin which can only put people off general adoption.
Bloody useful in bank clearing though, a global equivalent of the £100 million pound bank note,that and China's announcement that it wants to do a crypto currency (though thats not the same as saying China is launching a Bitcoin takeover) is why it stabilised.
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tl,dw: no. Plus further-no re Chinacoin/Bitcoin stabilizing effect.
 
Boy meets disruptive network technology protocol. Boy becomes infatuated with disruptive network technology protocol. Boy invests at least three years worth of savings in a life together with the protocol. Protocol becomes power needy. Protocol gets concentrated in the hands of a few. Boy has heart broken when protocol runs off with the banking elite. Boy resents protocol for having stolen his heart in the first place. Boy pledges to never love again…
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lol... boy's done pretty well out of becoming a leading specialist in protocol over past three years- so much so banking industry poach him to work on their own version (puzzling really, if you're a network of banks then what bitcoin does can really just be solved without blockchains in my opinion... a private version kind of misses the point of a blockchain but there you go). Boy makes massive rage-quit/flounce all over New York Times (I usually stop reading at "New York Ti" to be fair)... article release timed to be useful re an R3 sales-hustle at banking industry re bankcoin (video of meeting linked above).

News of Bitcoins 90th Death have been very much exaggerated. Passionate controversy and a Dead Cat Flounce Bounce... I wouldn't start looking to acquire bitcoins for a collection of artifacts of future "antique-kitch" from the Roaring Teenies quite yet... I'd wait for the price to come down a bit more tbf. Maybe wait till they're free, 21 million of em... should be plenty about soon enough.
 
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This strange belief that bitcoin was somehow anti corporate and anti establishment makes no sense to me. Of course if it worked as a technology it would be quickly adopted and adapted by the financial services industry - it's money ffs.

If reminds me of the mid 90s when the Internet started to have more than just science fiction message boards and thumbnail porn pics, and companies started to try and work out how to make money from it. I remember talking to someone in the pub (I had a job promoting a Web site about cars) who was annoyed about being pushed aside into the Internet "ghetto" by business, and that the Internet was being highjacked by money and corporations... Lol.
 
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Idaho said:
This strange belief that bitcoin was somehow anti corporate and anti establishment makes no sense to me. Of course if it worked as a technology it would be quickly adopted and adapted by the financial services industry - it's money ffs.
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Dunno if that was to me... but I agree. As for why the banking industry is interested in blockchain when they already have the likes of Oracle is a mystery. Maybe R3 just sees em coming an wants some of that rich bewildered n00b money. Something can be "disruptive" just by changing the players, if not the game. Cryptocurrency and other types of asset does mean the finance/economics of the future will be different from today of course. But as an example- right now Malboro is not the foremost producer of vape-devices and e-liquid in the industry, and I suspect they would face difficult challenges achieving such (competing against their own base and undermining their own sunk costs for one).

I was amused how he basically opened with "CHINA! Eh... yeah, that's right, big scary CHINA!!!" in that video. Speaking of which I found this interesting...

Nine-Two Consensus for BTC

A note by the translator:

Historically Nine Two Consensus is a political term referring to the outcome of a meeting in 1992 between the semi-official representatives of the People's Republic of China (PRC) in mainland China and the Republic of China (ROC) in Taiwan.

The title has a two-fold meaning: like the historical Nine-Two Consensus, this announcement shares the same view to seek common ground while reserving differences; Nine Two Consensus is short for Ninety Percent support and Two Megatbytes cap increase. --End of translator's note.

[Baseline]

  • We support 2MB upgrade with the precondition of 90% hash power agree.
Our vision comes from Satoshi's original white paper -- Bitcoin: a Peer-to-Peer Electronic Cash System.

The white paper has defined bitcoin as a currency, not a settlement system. 1MB will not meet the requirement for a currency, neither can it satisfy the needs in a settlement network (1MB=7 tx/second, SWIFT=60 tx/second)

This "Nine-Two Consensus" is our effort to avoid the split of the community, and ensure the safe and sustained development of this community.

Meeting held Jan 23, Beijing, with people from many Chinese BTC companies including AntPool/Bitmain, Bither, HaoBTC, BTC123, BTCKan, Richfund, Yunbi, SoSoBTC ....

[Details]

As Miami conference has not yet reached consensus, the Chinese community members gathered in Beijing to seek consensus within China. The aim is to prevent the split of community, seek common ground while reserving differences. Core has said that a scaling without consensus is too risky. We will give them the consensus. If the consensus is reached, btc market will be more stable, and in the meantime, future efforts will be more practical.

Here in this meeting we, the attendees, all agree the following plan

  • When blocks are full, and at that time,

  • if Core has not yet upgraded to 2MB,

  • and if Classic is not enough widely supported,

  • We will do what Satoshi has pointed out [PATCH] increase block size limit We will add a code patch to increase the cap from 1MB to 2MB to solve the pressing problem. This means, as we think, has a big potential to reach consensus, and urge Core to accommodate.
[Risks in Segwit]

Core’s Segwit plan will indirectly expand block size, but not without risk.

Firstly, Segwit has only 1.6MB theoretical effect. There’s considerable complexity in code development, which would make other applications difficult to upgrade, or even unwilling to upgrade. If only 50% tx adopts Segwit, the 6-12 months hard work will only achieve 1.3MB effect, which is more or less meaningless.

Secondly, Segwit has large modification in bitcoin low-level logic. While the workload is huge, the community is exerting great pressure. The core team has to work overtime to deliver it in time.

Bitmain CEO Mr. WU Jihan also confirmed that "There are Core devs working more than ten hours a day and try to get the work done faster."

Many of us here has tech background. We know what overtime often means to quality. The history of bitcoin is not absent of bugs. As indicated here Common Vulnerabilities and Exposures - Bitcoin Wiki .For instance a hacker exploited bitcoin vulnerability to produce 184.4 billion bitcoins in 2010-08-15 【爆料】震惊：比特币曾经被刷出1844亿个 - 比特币论坛.

Currently our bitcoin is stable and solid. This is a joint hard work of six years. If we push to produce segwit, the risk is too large. We may suffer grievous loss. Bitcoin price may even go down with one order of magnitude. Which is enough to kill the future.

So we think it’s vital to prevent core from hastily delivering Segwit.

[Support Now]

We will do our best to ask all bitcoin companies / users to join us. Please reply in this thread to help.

[Supplementary]

  • Why is 90% a consensused hash ratio?

  • Because some hash power is not in mining pools (solo mining or in private pools), which means they cannot express their voice. We subtract this silent portion, and get an actual 95% of total public hash, which means a consensus.
[EOF]
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Chinese community has voiced consensus opinion to support 2MB upgrade with the precondition of 90% hash power agree. Meeting held Jan 23 Beijing, with people from many Chinese BTC companies including AntPool/Bitmain, Bither, HaoBTC, BTC123, BTCKan .... • /r/Bitcoin

China; like the mountain, abides.
 
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Hello Geeks!!! (Apols this is a Joke & this a u75 forum I would never normally post on)
I wanna buy some bitcoins I only want about 20 to 30 quids worth. The couple of sites I have joined people w only wanna sell large amounts, like 300 quid minimum. Why is this is it becase its not very profitable to sell small amounts. Also my prefered method of payment is debit card which seems to be becoming a rarity. Soz bout all this but Im a total technophobe. All help greatly appreciated.
(The I.T. Crowd, thats funny isn't it?!!!)
 
Three posts in twelve hours after notching up just 256 in fourteen years - that's practically a binge! ;)
 
I use Bittylicious | Buy UK Bitcoins Quickly which is the best your going to get without pissing about with photos of you, your bank card, your driving licence and passport as proof.

I've used em a few times. Not the cheapest but like I say you wont get better without jumping through various verification hoops.

You can use debit card but you will pay more. Youe better off doing a faster payment transfer which seems to work as well as a debit card payment.
 
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