Post
Topic
Board Speculation
Re: Long term advance notice!
by
infofront
on 07/06/2019, 13:47:31 UTC
Shelby responded again:

Quote from: Shelby Moore
Readers should see what I added to the bottom of my prior post via @infofront. I added a chart and significant elaboration.

I really hope this is my last reply in this thead. I have other more important things to do. Note this thread has been archived just in case the Core supporters go crying to the mods to censor discussion.

Wise men have said never argue with an idiot(s), but this is too much fun. I’ll go one more round and waste a little bit of my precious time for the sake of making sure readers who have trouble understanding reality on their own, have been given a fairly complete version of the rationale. And also for the entertainment value, lol.


Quote from: Shelby Moore
BSV is the clean code road map that finally removes any dev midlle men - and we will not nee to talk about boring stable protocols from now on


I explained to you upthread that adaptive block size is not trustless, decentralized. Thus neither BCH nor BSV are the original, immutable Bitcoin. And thus with BSV what you get is an exciting, mutable shitcoin akin to silver instead of gold. See the chart below for the horrible valuation of silver versus gold…

BSV will totally remove the block size cap and it should not be a Consensus param anyway -  All trxs should just be checked for Bitcoin relevant Consensus (double spend, inflation model,..)  - a bulk cap is stupid tech dept that is already in by phsical and economical constraints. Removing that again was a no-brainer for anti-hobby node fraction anyway.

Until you refute the following linked information, then you are just farting in the wind and deceiving yourself:

Adaptive Block Size Can’t Be Secure

I know you prefer to ignore the technological facts. So you will learn the hard way. Enjoy poverty.





So, what would happen, in a market perspective, is that both chains would start with the same value

Disagree. The stock-to-flows valuation model is predicative and it instructs that the immutable coin with known future flow of token supply is exponentially more valuable than a mutable protocol.

See the additional chart I added to this post.

We need to weigh down human behaviour on this event.

Only the behavior of the wealthy matter. The vast majority do not matter at all. They are worthless. 50% of the population only has 15% of the wealth. The top few percent has 34% of the wealth.

Investors dont have a clue about immutability in the protocol

Then they won't be investors for very long. They will be bankrupted former speculators who did not do due diligence.

The wealthy investors know what is going on. Craig told them. I told them. The trilema.com Bitcoin millionaire told them. Etc.. Word gets around amongst the uber wealthy.

PoS

Proof-of-shit aka proof-of-nothing has no value. All PoS shit will go to 0 eventually.




The Segwit outputs can't be stolen on the "Core" chain because that would violate the consensus rules. No rollback would be needed.

Correct. Nobody will be stealing anything. I explained that in more detail below.

The "Core" chain would continue normally like nothing ever happened.

Well it would if the miners do not leave to go mine on the Satoshi protocol and get their share of the SegWit booty, in which case the hashrate on the Core protocol will crater and thus nothing will transact. It might even slow so much that it just dies and difficulty never resets. I hope not, because I want to dump my Core shitcoins from the free airdrop.

That's why the whole scenario doesn't make sense. The Segwit outputs can only be "stolen" on a separate hard fork that copies the original chain's ledger.

But I explain below that Core is the one hard forking, not Satoshi protocol.

If history is any guide, the market will just treat that Bitcoin hard fork like worthless garbage. The only reason to download the client at all would be to dump your airdropped coins.

Exactly. Core will be treated as garbage because it “soft forked” then later hard forked off of Satoshi’s real BTC.

I am pleased that we are in perfect agreement, except for your misunderstanding about what the term hardfork means. Read below.




Quote from: Shelby Moore
What part of the game theory and economics is your pea-sized brain incapable of understanding?

I pointed out that after the fork off, Legacy address hodlers will have tokens in both forks and the Core address hodlers will only have Core shitcoins. So Core supporters will have no Legacy coins to sell. And Legacy supporters will have Core shitcoins to dump. Why would they instead dump their real BTC if they made the conscious decision to hodl in legacy addresses.

You are delusional. "Legacy address holders" ≅ your shitcoin[Legacy immutable protocol] supporters. Nobody gives a shit about your obscure shitcoin hard fork where miners steal everything. You and your little ragtag crew of neckbeards in your mom's basement may care about your fork, but no one else will. That's why only a handful of people are even aware of your delusional ideas.

There are lots and lots of Bitcoin[Core “soft forked” protocol] supporters with legacy outputs who will dump your shitcoin to hell. Just because some people are holding Segwit outputs doesn't mean legacy address holders unanimously support miners stealing half of all Bitcoin outputs. LOL.

What is this bullshit about "conscious decisions?" Nobody made a conscious decision to support your obscure little shitcoin. People keep their coins where they do for a multitude of reasons.....convenience, laziness, cold storage hodling, lost coins, etc. What evidence do you have that any sizeable economic group has any interest in supporting your hard forked spinoff shitcoin?

Quote from: Shelby Moore
You still have not even paid attention to the fact that Core address hodlers do not get any Legacy tokens.

Yes they do. You're the fucking retard who assumes Segwit users ≅ legacy[Core “soft forked” protocol] users. Show me data that proves it. I certainly have coins in both address types and I'm sure many others do too.

I fixed your typos.

1. I am prepared to trade you 2 Core tokens for every one of your Legacy address tokens after the fork-off. Will you accept? Can we have a contract now? Do you even have enough BTC to make it worth my time?

2. Yes I assume anyone stupid enough to use SegWit is a snowflake Core supporter and not sufficiently worried about losing their legacy protocol BTC. So much so, that they probably do not even bother to research the issue sufficiently.

3. I know numerous people who hodl between 100s up to 10,000s of BTC, and all of them are consciously hodling all of their BTC in legacy address format.

4. Bitcoin is not designed for people who need the hand-holding of measurement to confirm that which common sense about the power-law distribution will tell us is always the case. Do you fail to understand that throughout all of human history in the markets the majority must always be wrong? Efficient markets move in the direction that damages the most investors. That is a fundamental law of markets. If that were not true, then the power-law distribution of wealth would not hold. And then we could not exist. The science of that is explained near the bottom of the following linked blog which I linked for you previously:

https://steemit.com/religion/@anonymint/ethics-of-religion-money-and-bitcoin

You are very adept at ignoring information I provide for you. Presumably you are a Sensing Myers-Brigg type and thus entirely lack intuition and the ability to consider broad, big picture scope models.


Quote from: Shelby Moore
The miners are not going to steal anyone’s coins. Only those generous snowflakes (like you fool) who have at the time of the fork spent their coins to “anyone can spend” addresses at the time of the fork off, will be thanked for funding the immutability of Satoshi’s protocol.

Right right right. Cool story. Miners aren't stealing anything. They're just "taking" half of all BTC hard forked shitcoins for themselves.

Core will hard fork-off (actually fuck off) after its “soft fork” is not allowed to continue in its imposter role any longer, when the Schelling point SegWit booty piles stinking high.

How can Satoshi’s protocol hard fork off from itself? The fact that Legacy address hodlers get a free airdrop of Core shitcoins but not vice versa, is technological proof that Core will be hard forking off from its “soft fork” from the Satoshi protocol, not vice versa. You employ Orwellian double-speak to try to fool yourself and the readers.

Core was the one who delayed the hard fork by slyly positioning for theft of the Bitcoin name in the politics of the hordes of foolish bunny rabbits. But names don’t equate with reality of protocols, game theory, and economics. The reality is that if miners decide to continue mining Satoshi’s immutable protocol, because they have been offered a huge amount of funding to do so, how have they stolen anything? The Core supporters will still have their Core address shitcoins. They have not lost anything. And the Legacy address hodlers will still have their legacy protocol real BTC. And the latter also get a free airdrop of the Core shitcoins because the Core protocol miners will then fork off from the Satoshi protocol, because their contrived “soft fork” imposter position will have been forced to come out from behind the curtain and reveal that only hard forks are reality.

"Blah blah blah, bow down to Satoshi's immutable protocol herp derp." You neckbeard retards sound like a fucking cult.

You are correct that the wealthy are going to be hated by the impoverished. We have very bad times coming for the world, because of the hordes of idiot snowflakes in this world. I recently blogged about this:

https://steemit.com/money/@anonymint/rise-of-hard-money-is-a-harbinger-of-misery

Yeah wealth is a cult of sorts. Because unfortunately the vast majority of the people in the world refuse to get in touch with reality. They prefer their snowflake fantasy about how the world should be, but is not. That is because they totally lack any understanding of the reason why the power-law distribution of resources must exist. Again I have explained in the following linked blog:

https://steemit.com/religion/@anonymint/ethics-of-religion-money-and-bitcoin


You idiots haven't even bothered to discuss mining incentives as pertaining to actual users, post-fork.

Quote from: Shelby Moore
I already refuted this in the prior post. You seem to not understand the importance of the power-law distribution of wealth and thus you do not understand economics.

You didn't refute anything. You in no way related that to market demand for your shitcoin. Why the fuck would anyone ever adopt your hard fork shitcoin?

Are you intentionally blind? Why do you keep ignoring the “going to the gold” chart and link to the blog that discusses the math for the valuation model in great detail:

https://steemit.com/bitcoin/@anonymint/secrets-of-bitcoin-s-dystopian-valuation-model


You repeating your bizarre fantasies in an authoritative manner over and over and peppering in conspiracy theory jargon doesn't make you convincing. It just makes you look like a bizarre fucking cultist/conspiracy nut. You bring zero compelling game theory to the table.

Quote from: Shelby Moore
You've based this entire absurd theory on mining rewards at existing prices! That's beyond absurd! Miners on your shitcoin won't be mining billions in value. Who is going to put bids on exchanges for that shitcoin? It would be dumped to hell immediately and become incredibly unprofitable to mine.

You are so arrogant that you refuse to learn about the backtested model that gives Bitcoin its valuation. Thus you’re boastfully ignorant about what the real BTC is worth. Fuck exchanges and all your nonsense about what you think gives Bitcoin value. Go study the math of the backtested model which I linked for you, so you can put some salve on your eyes, fool.

It's insulting how fucking stupid you are. I can't believe you got some people in here to take you seriously.

You can't "backtest" for value you fucking moron. Value is subjective. There are literally millions of variables that can affect supply and demand hence why economics is not scientific and your retarded theory is not provable. Your absurd projections are the work of a mentally ill child. The fact that you think value could even be studied in this way really shows how disconnected you are from reality.

Get a grip on reality. The stock-to-flows valuation model is predictive:



Click the image and go read about it, fool. So you can put some salve on your blinded eyes.


Keep thinking that miners can steal everyone's money in a hard fork, and that investors are going to line up to buy them back. LOL.

Miners will not be stealing anything as I already explained. And I certainly am not donating my Legacy protocol BTC to the Schelling point. I thank you for being so generous. Your charity is much appreciated, lol.

Enjoy your poverty. You were warned and refused to listen. Now you will get what you deserve. And if you come round my place desperate and hungry, demanding to steal what is not yours and threatening my life, because you think you were robbed by a wealthy cult, I might be forced to shoot you in self-defense for trespassing where the sign says NO TRESPASSING, PRIVATE PROPERTY.

If you ask me kindly for some food, I might forgive you if you have apologized by that time. I love to give to the humble poor, who are trying to learn.

Unfortunately this is the world we are heading into, because fools like you refuse to get in touch with the reality that life is not egalitarian. And democracy is rent-seeking, kleptocracy. What right does your “user consensus” soft fork have to tell me that I can not mine the Satoshi protocol? Why do you think the simple majority (of votes, not wealth) have authoritarian control over the me and the minority (who actually have all the wealth beause we do not disrespect private private)? If I mine the Satoshi protocol, I am not stealing your Core shitcoins. You want it both ways. You want to have your cake and eat it to, while subjugating me and everyone to your arbitrary scamming politics. You are despicable, scum of the earth who want to gang up and steal the private property of others via the will of the dishonest, opaque collective politics.

This is why we are going to be a very bad world soon. So many idiots who do not understand private property and the non-aggression principle of Libetarianism.


Quote from: Shelby Moore
Thus the air-drop is of Core tokens, not of Legacy tokens.

No, your shitcoin is literally a hard fork. It's a spinoff coin that removes consensus rules. The "Core" chain is the legacy chain and will keep chugging along like every day before.

You chose to follow Core. I did not. I have a right to mine what ever I want. Satoshi protocol miners will not steal your Core shitcoins. Make your choice, and in doing so, you can not claim that you have a right to decide for me what my choice should be.

How can Satoshi protocol spin off from something that was a “soft fork” from Satoshi protocol? That's inane and illogical.  If Core had hard forked, then it would be the same result that you get your Core shitcoins and everybody who had Legacy addresses get both the Satoshi and the free airdrop. So when miners mine the Satoshi protocol and then Core hard forks off from it, it will just be finalizing what Core delayed by conniving deception.

In your hard fork, miners steal all anyone-can-spend outputs for themselves. The rest is airdropped to legacy address holders based on the original chain's outputs.

Lol. Now I understand how the twisted mind of a thief works. Your political mind works like Obama, Barry Sanders, Elizabeth Warren, etc..


This is a spinoff coin, just like any other. Didn't Jeff Garzik do a Bitcoin spinoff coin where they stole the Satoshi outputs? It's basically like that. LOL.

Someday you might hopefully understand anything about blockchains.

Quote from: Shelby Moore
How is your shitcoin immutable?

Lol. You have no reading comprehension.

Which address format is the air-drop? Duh.

That was all explained in the Steemit posts which you do not even bother to read or you’re reading comprehension is so low that you can’t even grok the logic in what you read.

WTF does immutability have to do with address format?

Miners rolling back chains, removing consensus rules so they can steal money from users......that's all "immutable" to you.

There's not going to be any significant rolling back. Not anymore than analogous to a temporarily very high orphan rate.

Btw, I hope you remember that Bitcoin had a very lengthy rollback to remove the bug that awarded billion BTC. Core is also a bug, from the perspective of those of us who want immutability.

The Satoshi protocol has not changed. That is what immutability means in this context. Do not conflate that with mining security. When you put a SegWit booty bug in many software clients that convinces users to spend their BTC to "anyone can spend" unrecognized addresses, then the Satoshi protocol is eventually incentivized to take those as donations. Never did the Satoshi protocol change. Some miners were duped into honoring Core protocol rules and Satoshi protocol can tolerate Core's protocol rules until the booty piles up stinking high, then the Satoshi protocol will not have Nash equilibrium until the booty is take and the bug is removed from the clients.

So you can blame Blockstream for this coming chaos. And I certainly would not want to be any of those guys. I bet many of them will be destroyed, perhaps going to prison. This is what Craig has been spouting off about, not to say I admire Craig.

Btw, your reaction to my facts is how I expect all Westerners to react when their Western democracies go into chaos for analogous reasons. We are indeed headed into very bad times. Again I urge readers to read the following blog:

https://steemit.com/money/@anonymint/rise-of-hard-money-is-a-harbinger-of-misery

You will end up pointing the finger at those who were honest, instead of pointing the finger at yourselves for your own thievery, dishonesty, scamming, political manipulation, etc..