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Do MtGox creditors have to do anything re the Rehabilitation Submission Deadline
I gotten mail messages about some kind of Rehabilitation submission deadline on March 30.
Is this anything that creditors have to worry about, or is it just a deadline for the bankruptcy lawyers?
Is this anything that creditors have to worry about, or is it just a deadline for the bankruptcy lawyers?
Well, thank god we have had our year of revenge.
After 8 years of jerkoffs making tulip comments and trying to change the subject of conversation, now I am the one who is finally trying to change the subject. I can't get every tom, dick and harry I run into to stop talking about it. I was recently at a conference and speakers were hijacking sessions to talk about Bitcoins. I mean, literally, the forum would be on world peace or something and the panelists are talking about Bitcoins (in a completely ignorant way of course).
It is sweet revenge to point out to these jokers: you know I was telling to learn about this stuff 5 years ago, Bob....
It's like they forget that you told them. Luckily they can't deny it because back in 2011, I gave everybody I knew a Casascius token. If they deny that I lectured them about it, I just say, "So, do you still have that Casascius token I gave you... ?"
After 8 years of jerkoffs making tulip comments and trying to change the subject of conversation, now I am the one who is finally trying to change the subject. I can't get every tom, dick and harry I run into to stop talking about it. I was recently at a conference and speakers were hijacking sessions to talk about Bitcoins. I mean, literally, the forum would be on world peace or something and the panelists are talking about Bitcoins (in a completely ignorant way of course).
It is sweet revenge to point out to these jokers: you know I was telling to learn about this stuff 5 years ago, Bob....
It's like they forget that you told them. Luckily they can't deny it because back in 2011, I gave everybody I knew a Casascius token. If they deny that I lectured them about it, I just say, "So, do you still have that Casascius token I gave you... ?"
It seems that when transactions occur the outputs only get smaller and are never aggregated. That can't end well.
For example, let's say that address A has an output with 1 BTC and address B has an output of 1.5 BTC and both send 0.5 BTC to address X. In this case X now has 2 unspent outputs of 0.5. They are not aggregated, but are treated separately. So, for example, if X wants to send 0.75 BTC to address Y, then output 1 might be sent to Y and also 0.25 of output 2, while 0.24 is sent to a change address and 0.01 is left as a fee. So, a total of 0.75 BTC is sent to Y, but it is still divided into 2 outputs. Also, the fee is problematical because they are relatively small. The miners collect thousands of small dollar fee outputs, but there is no way to aggregate them, so they are stuck with thousands of tiny little outputs.
This would suggest that eventually Bitcoin will experience a "dust death" because the outputs will just keep getting divided into smaller and smaller outputs until it becomes impractical to transact them. Is this correct?
For example, let's say that address A has an output with 1 BTC and address B has an output of 1.5 BTC and both send 0.5 BTC to address X. In this case X now has 2 unspent outputs of 0.5. They are not aggregated, but are treated separately. So, for example, if X wants to send 0.75 BTC to address Y, then output 1 might be sent to Y and also 0.25 of output 2, while 0.24 is sent to a change address and 0.01 is left as a fee. So, a total of 0.75 BTC is sent to Y, but it is still divided into 2 outputs. Also, the fee is problematical because they are relatively small. The miners collect thousands of small dollar fee outputs, but there is no way to aggregate them, so they are stuck with thousands of tiny little outputs.
This would suggest that eventually Bitcoin will experience a "dust death" because the outputs will just keep getting divided into smaller and smaller outputs until it becomes impractical to transact them. Is this correct?
The meddling nabobs who thunked up Segwitless have apparently given up on their nutty idea, as widely predicted.
This whole crazy "double" the block size thing is so pointless. Doubling the block size will not do anything. These crazies who think we need to keep increasing block size until transactions cost a penny each are just nuts. I think they know the whole idea is senseless, but they do it anyway just for publicity or notoriety.
Just to repeat for the record the basic facts: the Bitcoin network is not designed for credit card type transactions or volumes. It is designed to transfer relatively large amounts of money in a 10 minute window. That is what it does. It is not designed for retail purchases or transfers of small amounts of money. As the capitalization of the currency increases we can expect fees to keep going up as larger number of higher value transactions occur.
Now, if the clowns running core would just start using simple, reliable code written in C instead of junking the core up with object-oriented crap then we would really be in a happy place...
http://harmful.cat-v.org/software/c++/linus
This whole crazy "double" the block size thing is so pointless. Doubling the block size will not do anything. These crazies who think we need to keep increasing block size until transactions cost a penny each are just nuts. I think they know the whole idea is senseless, but they do it anyway just for publicity or notoriety.
Just to repeat for the record the basic facts: the Bitcoin network is not designed for credit card type transactions or volumes. It is designed to transfer relatively large amounts of money in a 10 minute window. That is what it does. It is not designed for retail purchases or transfers of small amounts of money. As the capitalization of the currency increases we can expect fees to keep going up as larger number of higher value transactions occur.
Now, if the clowns running core would just start using simple, reliable code written in C instead of junking the core up with object-oriented crap then we would really be in a happy place...
http://harmful.cat-v.org/software/c++/linus
Re: I told my grandma to put all her lifesavings in Bitcoin because you guys said
LOL 
What does your grandmother want with money anyway? You need money when you are 25, not when you are 80. She should be spending money, not investing it.
What does your grandmother want with money anyway? You need money when you are 25, not when you are 80. She should be spending money, not investing it.
I run a full node, selflessly helping the Bitcoin network verify and confirm transactions, unlike you selfish pricks who use my machine to confirm your transactions and give me nothing in return.
I was just thinking today how much money I would make if there was a verification fee. If people paid an average verification fee of $1 per transaction and there are about 2000 transactions in each block and one block is formed every ten minutes and there are about 10,000 full nodes such as myself sharing the fee, then I would have an income of:
$1 * 2000 * 6 * 24 / 10000 = $28.80 per day
So, that would pay for dinner every day at a restaurant.
I hope you all recognize the serious flaw in the current protocol that results in me not getting paid for dinner every day.
I was just thinking today how much money I would make if there was a verification fee. If people paid an average verification fee of $1 per transaction and there are about 2000 transactions in each block and one block is formed every ten minutes and there are about 10,000 full nodes such as myself sharing the fee, then I would have an income of:
$1 * 2000 * 6 * 24 / 10000 = $28.80 per day
So, that would pay for dinner every day at a restaurant.
I hope you all recognize the serious flaw in the current protocol that results in me not getting paid for dinner every day.
Fasten your seatbelts: Bitcoin volatility in for a wild ride
Stardate July 20. 2017
Day traders are salivating as Bitcoin spirals into insane volatility driven by Segwit speculation and tectonic changes in the virtual currency marketplace.
Private client brokers are sprouting like mushrooms. Many existing services like BTCBOX are creating large client services, hinting that Bitcoin is going bigtime. Meanwhile, as the thieving latte fatboy pled innocent as his futile criminal trial opened in Tokyo, Japanese retailers and all major Japanese exchanges are planning to suspend services during the August 1 signalling milestone. John McAfee, the well known security researcher has promised to eat his own dick if Bitcoin does not go above $500,000. I guess we know what his recent investments have been. In an effort to save McAfee's dick, Richard Branson announced "I think Bitcoin is working" in an interview. Insiders are predicting the August 1 doomsday will be a non-event, while naysayers are having a field day with $100 million in losses to Ethereum holders due to client protocol bugs. Meanwhile, anybody with any money left in Venezuela is feverishly trying to figure out what a "wallet" is before their last Bolivar is gone. I guess that's what they get for accepting money named after a Communist revolutionary. Meanwhile, in the land of nabobs, where currency manipulation is a blood sport, the government has unexpectedly announced that their crazy speeches about making Bitcoin illegal were premature, so they will "regulate" it after all. Good luck with that, BJP. Meanwhile, in Switzerland, Falcon, a private bank, became the first to be government approved to manage bitcoin assets, thereby potentially opening the door to billions in parity between the legendary alpine gold Franc and the NEW KID ON THE BLOCK--all carefully monitored by the gnomes of Zurich, of course. Meanwhile, in South Korea, ATMs now allow withdrawals in cash out of Bitcoin accounts. Meanwhile, in the cradle of Bitcoin a "magistrate judge", whatever the hell that is, scolded the IRS for trying to seize the records of every account in Coinbase, and gas stations in Miami now allow you to buy bitcoins at special automated kiosks. You just put your raw cocaine in a cup in the machine and it gives back a receipt with the public and private key of a newly-created bitcoin address. Meanwhile, US retailers are experiencing shortages of high-end graphics cards. Trying to buy a Nvidia Tesla? No can do. Distributors are saying only that there are "production hiccups", but the word on the street is that--you guessed it--the AntPool guys are buying them up.
The next 30 days are going to be crazy, fasten your seat belts.
Stardate July 20. 2017
Day traders are salivating as Bitcoin spirals into insane volatility driven by Segwit speculation and tectonic changes in the virtual currency marketplace.
Private client brokers are sprouting like mushrooms. Many existing services like BTCBOX are creating large client services, hinting that Bitcoin is going bigtime. Meanwhile, as the thieving latte fatboy pled innocent as his futile criminal trial opened in Tokyo, Japanese retailers and all major Japanese exchanges are planning to suspend services during the August 1 signalling milestone. John McAfee, the well known security researcher has promised to eat his own dick if Bitcoin does not go above $500,000. I guess we know what his recent investments have been. In an effort to save McAfee's dick, Richard Branson announced "I think Bitcoin is working" in an interview. Insiders are predicting the August 1 doomsday will be a non-event, while naysayers are having a field day with $100 million in losses to Ethereum holders due to client protocol bugs. Meanwhile, anybody with any money left in Venezuela is feverishly trying to figure out what a "wallet" is before their last Bolivar is gone. I guess that's what they get for accepting money named after a Communist revolutionary. Meanwhile, in the land of nabobs, where currency manipulation is a blood sport, the government has unexpectedly announced that their crazy speeches about making Bitcoin illegal were premature, so they will "regulate" it after all. Good luck with that, BJP. Meanwhile, in Switzerland, Falcon, a private bank, became the first to be government approved to manage bitcoin assets, thereby potentially opening the door to billions in parity between the legendary alpine gold Franc and the NEW KID ON THE BLOCK--all carefully monitored by the gnomes of Zurich, of course. Meanwhile, in South Korea, ATMs now allow withdrawals in cash out of Bitcoin accounts. Meanwhile, in the cradle of Bitcoin a "magistrate judge", whatever the hell that is, scolded the IRS for trying to seize the records of every account in Coinbase, and gas stations in Miami now allow you to buy bitcoins at special automated kiosks. You just put your raw cocaine in a cup in the machine and it gives back a receipt with the public and private key of a newly-created bitcoin address. Meanwhile, US retailers are experiencing shortages of high-end graphics cards. Trying to buy a Nvidia Tesla? No can do. Distributors are saying only that there are "production hiccups", but the word on the street is that--you guessed it--the AntPool guys are buying them up.
The next 30 days are going to be crazy, fasten your seat belts.
It amazes me that people are willing to buy into centralized systems like Ethereum, but then again Bernard Madoff had $64.8 billion in entrusted funds, too, so I guess it is no surprise.
Anyway, today core devs at the company that promotes and controls Ethereum stole $76 million in coins using a vulnerability in the protocol.
They claimed this was done to prevent the coins from being stolen by "bad" hackers, as opposed to themselves, the "good" hackers. They promise to "return" the coins even though they have no idea who they stole the coins from. Yeah, right.
So, this is the new MO of the Ethereum company: write buggy software, then steal your customers' funds to protect them from your buggy software. Nice logic.
Welcome to the Russian way of doing things where they "protect" your stuff by stealing it. Yeah, we got to take all your money to keep it safe, comrade.
Anyway, today core devs at the company that promotes and controls Ethereum stole $76 million in coins using a vulnerability in the protocol.
They claimed this was done to prevent the coins from being stolen by "bad" hackers, as opposed to themselves, the "good" hackers. They promise to "return" the coins even though they have no idea who they stole the coins from. Yeah, right.
So, this is the new MO of the Ethereum company: write buggy software, then steal your customers' funds to protect them from your buggy software. Nice logic.
Welcome to the Russian way of doing things where they "protect" your stuff by stealing it. Yeah, we got to take all your money to keep it safe, comrade.Right. No kidding.
I have been saying this for years.
The problem is that the "average person" is a retard with no capability for logical thought, and the development trend is driven by politics which are driven by the "average person".
I just read a post about people buying "coffee" in Japan. Then, of course, there are the daily "bitcoin is dead" posts. It is a culture of mass stupidity.
There is a big gulf between reality and what you read in the news and forums. If you use logical thinking, you will find that most of what you read in newspapers makes no sense.
I have been saying this for years.
The problem is that the "average person" is a retard with no capability for logical thought, and the development trend is driven by politics which are driven by the "average person".
I just read a post about people buying "coffee" in Japan. Then, of course, there are the daily "bitcoin is dead" posts. It is a culture of mass stupidity.
There is a big gulf between reality and what you read in the news and forums. If you use logical thinking, you will find that most of what you read in newspapers makes no sense.
Automatically delete posts complaining about individual transactions?
We get a steady stream of my-transaction-is-still-not-confirmed posts cluttering up this forum.
These posts are of two basic types:
(1) I am PISSED OFF that I PAID a $20 transaction fee to transfer $4.39 so I could buy a mochachino and it STILL ISN'T CONFIRMED.... Oh wait, it just confirmed, never mind.
(2) BITCOIN SUX big time because I tried to use it and IT DOESN'T FUCKING WORK!!!! BROKEN!!!! THIS IS USELESS!!!!! What's a "transaction fee" btw?
Can we please get some kind of moderator intervention to automatically or semi-automatically delete this crap off the forum, or at least move it to a special "Transaction Complaints" forum (LOL I wonder who will read that?)?
Thank you.
These posts are of two basic types:
(1) I am PISSED OFF that I PAID a $20 transaction fee to transfer $4.39 so I could buy a mochachino and it STILL ISN'T CONFIRMED.... Oh wait, it just confirmed, never mind.
(2) BITCOIN SUX big time because I tried to use it and IT DOESN'T FUCKING WORK!!!! BROKEN!!!! THIS IS USELESS!!!!! What's a "transaction fee" btw?
Can we please get some kind of moderator intervention to automatically or semi-automatically delete this crap off the forum, or at least move it to a special "Transaction Complaints" forum (LOL I wonder who will read that?)?
Thank you.
I don't think they get it. Bitcoin is not appropriate for micro transactions.
You want to buy a movie ticket for $10 and pay a $3 transaction fee and wait for at least 10 minutes maybe longer for it to confirm? That's your business model? Doh.
You want to buy a movie ticket for $10 and pay a $3 transaction fee and wait for at least 10 minutes maybe longer for it to confirm? That's your business model? Doh.
Who is "we"? You and your imaginary friend?
How illegitimate are "we" talking about here? Masturbating to Miley Cyrus videos? How bad was it? Show me on this doll where the hacker touched you.
How illegitimate are "we" talking about here? Masturbating to Miley Cyrus videos? How bad was it? Show me on this doll where the hacker touched you.
If you have a machine you can spare, please run a full node. The more nodes there are, the stronger the network is. Also, if you run a full node you can potentially mine your node for information of various kinds. You can tell if you have a full node by giving the following command:
If the "connections" field is greater than 8, then you are running a full node, congratulations!
You can find information on how to run a full node on bitcoin.org here:
https://bitcoin.org/en/full-node
Code:
bitcoin-cli getinfo
If the "connections" field is greater than 8, then you are running a full node, congratulations!
You can find information on how to run a full node on bitcoin.org here:
https://bitcoin.org/en/full-node
I don't really get the most recent Mt. Gox bankruptcy report which said that the liabilities of the company are 263,532,461,014,618 yen.
That is 263 trillion yen.
Since there is about 100 yen to the dollar, that would be 2.6 trillion dollars.
Mt. Gox was big, but not that big. What am I missing here? They using "micro yen" or something?
That is 263 trillion yen.
Since there is about 100 yen to the dollar, that would be 2.6 trillion dollars.
Mt. Gox was big, but not that big. What am I missing here? They using "micro yen" or something?