Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I'm not pushing XT specifically. Not even Gavin and Hearn are doing that. Sure, I would prefer BIP101 to BIP100, but it's not even clear that we'll get ANY scaling solution and certain people are being manipulated by powers that don't want any scaling solution to be implemented.
What is clear is that the argument that small block size prevents centralization is a bogus argument. Routing around the xaction limit reintroduces trusted third parties. These smallblockers are not defending the true decentralized vision of the project. Just the opposite is the case. They want to take power away from the end users (the customers) and give it to the employees (the miners). Whether or not the owners (hodlers) like that idea is going to be reflected in the charts.
What is clear is that the argument that small block size prevents centralization is a bogus argument. Routing around the xaction limit reintroduces trusted third parties. These smallblockers are not defending the true decentralized vision of the project. Just the opposite is the case. They want to take power away from the end users (the customers) and give it to the employees (the miners). Whether or not the owners (hodlers) like that idea is going to be reflected in the charts.
Let's leave it to people who understand Bitcoin to discuss these issues, shall we?
How's that supposed to work? How many "blockspace" do I get for 1 bitcoin?
Easy. 1/21,000,000th of the whole chain. I answered your question, now you answer mine. If I'm not buying space on the blockchain when I'm buying bitcoin, what am I buying?
So for 1 bitcoin I get 1/21,000,000th of the whole chain? Are you for real? Were you hit over the head with something?
Nope. I get one twentyone millionth of the whole damn chain. 4 eva. If you think that's too much, then perhaps you are selling your coins too cheaply. If I'm not buying blockspace when I'm buying bitcoin, then what the hell am I buying?
As many times as you've quoted me, you've never refuted my argument. You know damn well I wasn't being literal, as I've repeated many times. But yes, the hodlers are the owners as the bitshares network make more clear by having a less confusing name for the trading tokens.
How many coins you got, Fucktard? Are you an owner or a miner employee? Who do you think buys those coins if not people like me? Who do you think is going to use a hobby network with a 7 TPS capacity when the transaction costs (currently around $4) go unsubsidized? Hell, even ACH is cheaper than that.
What argument, this one ?
I answered your question, now you answer mine. If I'm not buying space on the blockchain when I'm buying bitcoin, what am I buying?
There will be a gang of persons willing to pay 5$, 10$, hell 50$ for true monetary sovereignty.
These people are presently paying orders of magnitude more to move their money around the world unnoticed.
So that's your answer? criminals? A network that is useful only to criminals will get isolated. the on-ramps and off-ramps are vulnerable. I'm an anarcho-capitalist, so I could give a fuck if bitcoin is used to buy drugs or launder money, but I also have to live in the real world where the State takes a dim view of such things and has the means to discourage them. There is safety in numbers and a small network makes the users more of a target than a large one with lots of "legitimate" clients. Ever think about that?
Criminals ?
Sure if that's your word for individuals interested in keeping their wealth of out of touch from nation states and their bullies we can call them that.
Let me guess, your idea of "legitimate" clients is the typical pay check to pay check person interested in shopping with BTC at their local supermarket?
It's not MY idea of "legitimate" that is relevant. That's why I used quote marks. You didn't really respond to my argument. I had the same problem with the Seasteaders. a successful floating anarchotopia would not withstand a Mark 48 torpedo after the media reported that some floating prostitutes, druggies and gamblers were laundering money for terrorists. You can't beat these assholes playing by their rules. You need human shields. You need the damn Walmart shoppers.
International banks are laundering money for terrorists & drug dealers gimme a fucking break.
The same banks are now refusing large cash deposits. When shit hits the fan where do you think this money will inevitably trickle into?
http://www.wsj.com/articles/big-banks-to-americas-companies-we-dont-want-your-cash-1445161083
Quote
At some point you wonder whether there will be a shortage of financial institutions willing to take on these balances, said Kelli Moll, head of Akin Gump Strauss Hauer & Feld LLPs hedge-fund practice in New York, saying that where to hold cash has become an increasing topic of conversation as hedge funds are shown the door by longtime banking counterparties.
Where else but Bitcoin?