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  • Replies: 1,764
  • Topics: 216
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  • Re: Could we change Bitcoin mining if we wanted to?

    Spengler you're worrying too much, it will be like a decentralized stock split. The bubble will pop, people will realize they have better options but with so many of them and different stakeholders expounding on different values people will gravitate towards the community of value (and its token) that they most identify with.

    You have a pros and cons list, the only relevant fact is that bitcoin is the starting point for all the things that replace it. Nothing will be worse and succeed in a moderate timeframe. That's beautiful, and it's the nature of decentralized systems at work. They do not scale forever the first time, they scale to maturity and then explode as they hit unanticipated failstates for unanticipated reasons.

    Trees grow, they live and then they die and eventually fall usually taking out a few neighbors on their way. Their absence causes a break in the canopy allowing saplings the chance to compete for the gap and for a period of 10+ years you have all players rapidly growing trying to maximize their share of the available resource and outcompete their neighbors. Smaller trees don't die, they just never gain the chance to reach full maturity.

    I'm invested in the forest, and I suggest you all do the same. Trees are risky things, only one trunk no matter how tough and as they get taller they become more prone to breaking under their own weight at extremes.

  • Re: Why Bitcoin price is falling?

    @zeus I can understand China news and MtGox etc but it appers that we are over that now, VC investments are happening in Bitcoin, the FBI auction went pretty well,no China banning lately, I read good news all the time and yet the price is falling...

    Can someone explain this to me please? Was the October - December price pump in reality only due to a couple of trading bots? Or simply there is no new demand for Bitcoin and the trading bots don't do their part as previously?

    Please share your thoughts.

    Well, if the willy report is to be believed if Mt.gox is dead and Mt.Gox was the tail wagging the dog, this is a real market and before it was a market rigged to go up.

    My feeling is this is the cycle, excitement, investment, then the long wait of investment to turn into something tangible during which time people get nervous and the price drops.

    Once the new uses hit and improve the value proposition by making things more usable or increasing utility or demonstrating something new etc. the media starts again and the attention refocuses, which reminds people they should have purchased some and the price starts going up which causes the price to go up more until it overshoots and the "bubble" pops and people get burned, but during that mania period a lot of investment is made and some of it pays off which powers the next cycle.

  • Re: MAIDSAFE releases Network Visualizer

    @sbux So MAIDSAFE will not release anytime soon:(

    Maidsafe is a medium term project, have faith or sell your tokens :) At least you have the option unlike butterfly labs pre-orderers

  • Re: Could we change Bitcoin mining if we wanted to?

    @spengler Listening to Episode 127, there were mentioned many ideas on how to change Bitcoin to improve the less than ideal situation with mining.

    What if, in the future, there were a most excellent idea for altering the protocol to improve Bitcoin? What would we do to get this change past the miners if it were against their best interests? They would resist a hard fork.

    I have heard people say that this would be a problem, but I've not heard about any solutions.

    Would we be able to split away from the miners and leave Bitcoin intact? Would there be a way to incentivize or compensate the miners to allow a change? Could it be done in stages, giving the miners advanced warning of gradually diminishing rewards? Would we be able to somehow leverage the fact that the miners have invested in hardware and need Bitcoin to maintain at least some of it's value?


    Can we just leave it how it is? As block rewards diminish, or hardware improvements tail off, maybe mining will be less attractive to the huge centralized pools. Perhaps there will be standardized, readily available mining gear widely distributed in the hands of a great many people (using a p2p pool?).

    There are so many possibilities that whatever happens in the long run will be interesting to watch.

    My personal feeling is that power will continue to calcify in bitcoin and eventually we'll be forced to move to another alternative because its become so expensive and time consuming to make even moderate changes to the protocol when its not in a life/death situation.

    Its only a matter of time before the "Bitcoin is Cryptocurrency" bubble pops, and the world is awash with a thousand coins vying for a title that no longer exists.

  • Re: [AUCTION] [Adam B. Levine] [Weekly End Date Sunday Noon Pacific] Hour Long Consultation via Skype (High Bid 6500)

    @william Hey @Adam, what's the cut-off date and time for this auction? The price is rising quickly, but I might want to try to get another bid in between flights.

    @RobMitchell, you are right! Adam's time is worth bidding high for. So, I'll bid two hours at 11,500 each.

    Sunday @ noon, so you have several days. This is a weekly auction.

  • Re: Issue with the sheer volume of LTB podcasts

    First we built the hydrant, now we're turning on the hose, then we'll apply the nozzle.

    I'm aware it's not how things are normally built, but it's how this is happening :)

  • Re: [AUCTION] [Adam B. Levine] [Weekly End Date Sunday Noon Pacific] Hour Long Consultation via Skype (High Bid 6500)

    @pooktwo @adam did you say you were going to be giving a token out before the consultation, as i have not received one yet. my Skype name is: "FoldingCoin" and i am on right now ready. Thanks :)

    The token element will start as soon but I haven't gotten it together yet ;)

  • Re: [50k][WRITING BOUNTY]Re-write the Data Policy, Music page, about page and show history page

    @kerneloops Regarding About page, youtube links to your talks suffices, or do you have specific material (images/video) you'd like to include?

    We'll embed the relevant talks but yes

  • Re: [AUCTION] [Adam B. Levine] [Weekly End Date Sunday Noon Pacific] Hour Long Consultation via Skype (High Bid 6500)

    Hey guys, yes - this is open until we get another auction manager :)

  • Re: [50k][WRITING BOUNTY]Re-write the Data Policy, Music page, about page and show history page

    Feel free to make these pieces "fun"

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