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Showing 20 of 30 results by ThirdRenaissance
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Board Bitcoin Discussion
Re: More Countries, More Security?
by
ThirdRenaissance
on 31/03/2014, 23:33:05 UTC
I agree that security is one of the major hurdles for mass adoption. Multisig wallets and similar solutions will hopefully go a long way towards end user security. And having more people on board will means having more smart ideas and man power.
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Topic
Board Speculation
Re: [Cosmopolis] Prepare for Bitcoin $266 Retest
by
ThirdRenaissance
on 31/03/2014, 18:55:27 UTC
Quote from: af_newbie on March 31, 2014, 04:59:58 PM
The difficulty suppose to adjust accordingly, but all this takes time and this would be a "real test"
for the bitcoin experiment.  Basically, the (Chinese) traders and the market would kill bitcoin by setting the price below the operating costs and keeping it there for long enough to kill the network.

No mining = no transactions = game over.  not only for bitcoin, game over for all cryptos.

So be careful what you wish for.  You better hope $400 is the bottom.


All the mining hardware that was profitable 6 months ago still exists, it didn't vanish and the price was much lower then while electricity was the same. Current hardware is even more power efficient. In other words if a functioning network could exist then, it can exist now, even if prices drop back to previous levels.
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Topic
Board Bitcoin Discussion
Re: Bitcoin 5 years from now
by
ThirdRenaissance
on 28/03/2014, 23:34:01 UTC
Quote from: Mikerogers on March 28, 2014, 10:34:54 PM
So much speculation is also coming from everywhere. I read negative articles that cite slow failure: http://www.panture.com/bitcoin-will-slowly-fail/

His #3 is complete nonsense.
Post
Topic
Board Economics
Re: Slippery Slope's Million Dollar Logistic Model
by
ThirdRenaissance
on 26/03/2014, 22:14:42 UTC
Quote from: SlipperySlope on March 26, 2014, 09:08:20 PM
Therefore it is reasonable to suppose that small-world effects will disconnect the bitcoin price relationship from transaction volume, in that the future whole Bitcoin network will not be uniformly well connected but rather be clusters of well connected nodes.

I don't see how this applies to Bitcoin. One of its fundamental properties is the decentralized consensus, as long as this mechanism works all nodes must be in the same state. By definition there can't be any clusters that behave differently and connectivity is not an issue as long as there is a connection to the network. Unless you are assuming that forks could exist alongside each other in completely disconnected networks, but then Bitcoin has failed as a whole.
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Topic
Board Economics
Re: IRS is going to tax Bitcoin
by
ThirdRenaissance
on 26/03/2014, 18:58:49 UTC
Quote from: pabloangello on March 26, 2014, 06:20:02 PM
- Namecoin with its decentralized domain names (.bit)

- http://twister.net.co/ fully decentralized P2P microblogging platform

- BitTorrent is working on decentralized web browser - BitTorrent Sync/SyncNet can view it peer-to-peer without the need to access a traditional server-based website.
  http://torrentfreak.com/bittorrent-sync-used-to-create-decentralized-web-browser-140204/
[/b]

And probably few more I didn't remember right now or don't even know about.

I wish we had a fully developed, mass adoption ready, decentralized e-mail replacement. Bitmessage is a nice idea, but I don't think it will scale gracefully and nobody seems to care about I2P Bote.
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Board Speculation
Re: April 8th
by
ThirdRenaissance
on 25/03/2014, 23:10:05 UTC
Finally the year of the Linux... ATM. Yeah!
Post
Topic
Board Economics
Re: Patents in the BitCoin Industry?
by
ThirdRenaissance
on 24/03/2014, 22:54:54 UTC
Your search terms might not be representative of the patent space pertaining to Bitcoin. I vaguely remember seeing a patent application by a big company that was clearly very Bitcoin-like, but deliberately avoided all the associated jargon, e.g. Bitcoin, cryptocurrency etc. Reading it you would have thought they had never heard of Bitcoin and came up with all those innovations by themselves. In other words the typical phony US patent, concocted to reap great profits from the work of other people.
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Board Speculation
Re: Vicurex freezing withdrawals.
by
ThirdRenaissance
on 23/03/2014, 22:21:28 UTC
Quote from: John999 on March 23, 2014, 08:03:33 PM
Cryptsy has already instaured capital controls.

http://www.cryptoarticles.com/crypto-news/2014/3/21/why-i-really-dislike-cryptsy

I'm not exactly a Cryptsy fan, but that article is idiotic.
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Topic
Board Speculation
Re: Value of Bitcoin will go down
by
ThirdRenaissance
on 22/03/2014, 22:32:34 UTC
2/10
would not let troll again
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Topic
Board Speculation
Re: Bitcoin will not hit the $10,000 mark this year :(
by
ThirdRenaissance
on 20/03/2014, 00:33:30 UTC
Quote from: Pruden on March 19, 2014, 07:49:43 PM
There is no time for two growth spurts within the next 9 months. Therefore, it will only get one shot at $10,000 this year.

Right, no time for that, could never happen. Except last year.
Post
Topic
Board Bitcoin Discussion
Re: BlockChain Size
by
ThirdRenaissance
on 20/03/2014, 00:09:53 UTC
Try using a light client instead, e.g. Electrum. Much easier to handle, not only for beginners.
Post
Topic
Board Bitcoin Discussion
Re: if the number of transactions doesn't pick up by 8/16 miners will have to quit
by
ThirdRenaissance
on 20/03/2014, 00:01:26 UTC
The endgame for Bitcoin is either rise to power or dive into oblivion. The former ensures high enough fees by virtue of its design.
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Topic
Board Economics
Re: Our crazy debt system.
by
ThirdRenaissance
on 16/03/2014, 17:49:22 UTC
Goodbye Dollar, hello Bitc... ehm Yuan?
Post
Topic
Board Bitcoin Discussion
Re: The real price of bitcoin, less than an iphone app
by
ThirdRenaissance
on 16/03/2014, 16:36:24 UTC
This just shows that we are all still early adopters. Not the earliest maybe, but still pretty much at the beginning of what may yet come.
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Topic
Board Speculation
Re: my intuition says: we're sitting on a rocket about to be ignited
by
ThirdRenaissance
on 16/03/2014, 16:25:28 UTC
Quote from: smoothie on March 16, 2014, 08:30:08 AM
1. New ATH by end of July

2. $5000 by year end.

CHOOOOOO CHOOOOO!

I concur, except for the chooo chooo part.
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Topic
Board Bitcoin Discussion
Re: What Bitcoin Has Taught Us About Human Nature
by
ThirdRenaissance
on 14/03/2014, 17:37:07 UTC
Guys, it's over, you may go home now. You heard it here first.
Post
Topic
Board Economics
Re: A couple of questions about the dollar
by
ThirdRenaissance
on 12/03/2014, 11:50:05 UTC
Russia and China are strongly pushing against the Dollar, especially with an increasing amount of oil trading going on in Yuan, without USD roundtrips. If anything, the Dollar's user base is sliding.
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Topic
Board Speculation
Re: This isn't a price poll, but rather a How sure are you that BTC will succeed?
by
ThirdRenaissance
on 12/03/2014, 11:30:42 UTC
Quote from: mskryxz on March 11, 2014, 07:02:16 PM
How sure are you that BTC will succeed?

Let me elaborate.

Succeed as in it will reach $5,000 or greater and it will reach main stream adoption.
As for figures, let us just say at least over 20 Million users from the current estimates 2-3 million users as of March 2014.
As for time frame, lets say within the next 2-3 years from this post's date.

I think those numbers and the time frame are pretty meaningless. If Bitcoin is still around in 10 years and has 100+ million users, we will know it has at least succeeded in becoming an established niche system.
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Topic
Board Speculation
Re: The New Moon for 2014 will be 1000dollars
by
ThirdRenaissance
on 12/03/2014, 00:51:35 UTC
Quote from: TERA on March 11, 2014, 11:21:23 PM
"moon phases" indicator. I'm not quite sure how to use it.

Moon phase * your dog's age + distance to the next McDonald's ^ 2 = Bitcoin price at the next summer solstice.

The dog can be replaced with a cat, but the results are not as accurate.
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Topic
Board Development & Technical Discussion
Re: Difficulty vis-a-vis less hashing power.
by
ThirdRenaissance
on 11/03/2014, 23:41:19 UTC
Quote from: Pajeu on March 11, 2014, 06:00:52 PM
Thanks.

I was wondering what could happen if all the Bitcoins stolen from Mt. Gox hit the market. Since the amount that vanished (I read it was close to half a billion USD) is quite large, the selling pressure is considerable. I´m surprised BTC USD exchange rate did not collapse even more. I do not own BTC, but if this move happens and the value drops to less than 100 USD or less, then this could be a very nice entry point. Not so sure if difficulty would fall as much so that mining could be a profitable proposition...

If you are looking to get into Bitcoin, waiting for 100 USD/BTC is very risky. Some people™ believe we have pretty much seen the bottom already, the usual fluctuations notwithstanding.