Quote from: darlidada on May 12, 2016, 10:27:56 AM

Its so obvious that the halving is already priced in.

I am not sure of that. I put it out there as a strong possibility. But we also have to factor in that the Euro is making a rally against the dollar, gold has been rallying also. We have a countertrend bounce right now. The wheels haven't fallen off the global economy yet.

Quote from: darlidada on May 12, 2016, 10:27:56 AM

Anyway, I agree with TPTB, long term both are SHIT as ETH is basically a scam and BTC is just digital fiat with potential worse controling outcomes that today fiat system

At least with monero we have a bit of financial privacy

But that doesn't mean BTC won't be pumped again to pull more money into that trap. Fundamentals of it as true hedge against fiat/governmment isn't necessarily correlated to its price performance.

Quote from: r0ach on May 12, 2016, 10:56:19 AM

I'm not playing your "move from one pump and dump to next pump and dump" scam game. Better to just hold what actually has fundamentals. I'm not buying garbage IPO scams issued by Eastern Europeans, issued for profit with no technical viability, whose entire purpose is to defraud people. If I wanted to do that, I would just use fiat.

Bitcoin is largest of the scams. It is pulling $1 million a day out of pockets and handing it to some corruption in China.

Quote from: r0ach on May 12, 2016, 11:18:23 AM

Quote from: darlidada on May 12, 2016, 11:09:00 AM

And you should really put more attention to what TPTB is saying.

Neither Smooth or I agree with ~~Anonymint~~TPTB_need_war (aka sockpuppet1) about BTC mining having a predictable endgame. It's entirely plausible that commoditization of sha256d could make most big mining farms extinct, with the only miners remaining being people that use the waste heat to power some other type of utility: water heaters, central heating, industrial use, etc.

I destroyed this logic fail from smooth in the past. Did you miss it?

Electricity is nearly an order-of-magnitude less efficient way to create heat. No one is going to compete with nearly free electricity in China (due to corruption) by paying more to heat their homes.

Even if Chinese mining farms were not getting political favors in exchange for promising to follow the government's edicts on regulation of mining (which of course they will do as any rational person will do because if they don't someone else will avail of the offer from the government and of course the government of China wants to control Bitcoin, duh!), it would still be the case that Chinese mining farms will always have greater economies-of-scale which will make it impossible to compete with them by getting part of the electricity for heating your home for free, because again you could heat your home in much more efficient ways especially factoring in the capital cost of the latest generation competitive ASIC mining equipment, as compared to for example adding better insulation to your walls or double paned windows, etc..

Quote from: r0ach on May 12, 2016, 11:18:23 AM

You might risk the utility company diverting hash voting power for nefarious means in such a scenario, but what are the odds the utility companies of the US, North Korea, Iraq, Iceland, and whoever else all collude?

100%. We are headed into a top-down managed world. Take off your rosy spectacles and study the history of mankind and what happens at junctures like the one we are in now.

Quote from: YarkoL on May 12, 2016, 01:51:01 PM

Quote from: generalizethis on May 12, 2016, 12:00:06 PM

You're the only one I've read use the term commoditization for Bitcoin mining's future--what do you mean? And can you clarify how it fixes the centralization problem?

The usual term is commodification, meaning affordable and
efficient consumer-level ASICs

14nm fabs are only owned by Intel, Samsung, and TMSC. Intel will probably be the first to 10nm, perhaps up to a year ahead of the others. It takes years to ramp up production to meaningful volumes. Commodization doesn't mean that consumers can get the most efficient hardware at reasonable prices. The cutting edge will always belong to the mining farm which places large guaranteed orders years in advance.