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also if the swing goes in your favour by 15% they won't honour the order
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Jan 1, 2015 21:24
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vOv posted:26 gigabytes? my god, what sort of billionaire would have kind of storage oh come on Johnny Mnemonic had like 160 gigabytes after the upgrade that's like six blockchains jesus this thread is a baby
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Jan 1, 2015 21:27
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infernal machines posted:let's ignore the part where you admit you've never actually tried to redeem your autisim kronars for spendable dollars, presumably opting instead for gift cards, adding another ridiculous step to the chain of attempting to extract value from waste heat all of the stuff i'v baught has been through either gyft or via bitpay/coinbase, or maybe once or twice i've gotten something where i sent btc to the person directly. quote:you've got your decentralized, ungoverned, libertarian-wet-dream of a currency, and it turns out it's actually lovely to attempt to use as a currency, asset, or other store of value for a host of fundamental reasons. once you understand how the system works and how to use your wallet app, its not that hard. not many places accept bitcoin, but i try to use it when i can quote:- it doesn't scale, the transaction volume of ~3 transactions per second is straining the system as it is and the record of every transaction that's fundamental to the system operating is now approaching 26gb the 1mb block limit will have to be raised at some point in time. hard forkes in the blockchain have happened before, it probably won't be a big deal. at any rate, when the 1mb limit is reached, all that will happen is that the first confirmation will take longer unless you have a fee. quote:- the dozens of exchanges you point to are busy getting robbed and soaking their users for all their coin because it turns out bitcoin only works if you distrust literally everyone. it is a trustless system and it's working about as well as you'd expect one exchange getting hacked is not every single exchange getting hacked. it is true that gox was terrible (maybe even fraudulent), but that doesn't mean that every sngle exchange is fraudulent. at any rate, for every 1 exchange that gets caught up in fraud, another 3 exchanges pop up. you think all of those exchanges are fraudulent? thats like saying every single picture/viseo of the moon capsule has been faked by nasa. quote:- despite being a trustless system about half the idiots using it are trying to fast forward their way through roughly a millennia of monetary policy to make it in some way actually usable, while the other half rail against them arguing that it's a just world and anyone who gets robbed deserved to be i'm not quite sure what you're saying here but the bitcoin community is part smart people, part idiots. bitcoin is a hard concept to understand. lots of people are going to jump in with out having a clue. there werea lot fo mindless people who were beatles fans, that doesn't make the beatles suck.
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Jan 1, 2015 21:34
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since there's going to be a bunch of grey-forum replies to that post can we just close this thread in advance thanks
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Jan 1, 2015 21:36
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haha a real bitcoin person, cool
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Jan 1, 2015 21:36
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DAT NIGGA HOW posted:the 1mb block limit will have to be raised at some point in time. hard forkes in the blockchain have happened before, it probably won't be a big deal. at any rate, when the 1mb limit is reached, all that will happen is that the first confirmation will take longer unless you have a fee. DAT NIGGA HOW posted:bitcoin is a hard concept to understand.
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Jan 1, 2015 21:40
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DAT NIGGA HOW posted:once you understand how the system works and how to use your wallet app, its not that hard. not many places accept bitcoin, but i try to use it when i can
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Jan 1, 2015 21:42
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Nessus posted:do you immediately rebuy to make sure your store of bitcoin remains the same? nope, i bought some back when it was 600, then again at 450, so now i'm only buying back when either I have no bitcoin left (not likely since i dont really spend it much) or the price starts going up again.
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Jan 1, 2015 21:47
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Jan 1, 2015 21:48
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i'm not sure if I like how
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Jan 1, 2015 21:48
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DAT NIGGA HOW posted:all of the stuff i'v baught has been through either gyft or via bitpay/coinbase, or maybe once or twice i've gotten something where i sent btc to the person directly. Gee, why don't they raise the transaction limits right now, I wonder? If increasing the block size is trivial, why not just increase it to more than we'll ever need right now? Lol "I'll buy when the price starts going up" How exactly can you differentiate the fluctuations from a rally?
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Jan 1, 2015 21:50
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DAT NIGGA HOW posted:nope, i bought some back when it was 600, then again at 450, so now i'm only buying back when either I have no bitcoin left (not likely since i dont really spend it much) or the price starts going up again. yeah buy high sell low, the bitcoin way
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Jan 1, 2015 21:50
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DAT NIGGA HOW posted:the 1mb block limit will have to be raised at some point in time. hard forkes in the blockchain have happened before, it probably won't be a big deal. wrong, cause most of the asic miners are limited to hashing 1mb blocks, so none of them will ever under any circumstances follow the fork, and the frisbee will be firmly entrenched on the roof. it's why it hasn't been changed already - most blocks don't get near 1mb, so raising that limit would have no practical effect for a while beyond making all the specialized mining hardware instantly obsolete even if that weren't true, though, once transaction volumes are high enough miners would obviously enforce an artificial block size in order to make more money off of fees. especially once the reward halves next year or whenever.
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Jan 1, 2015 21:53
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oh man I forgot that nicsho was working on a weekly hour-long buttcoin podcast I told him maybe 5 minutes would be better but he said nope, he should have enough material every week to pull off a "this American life" style podcast.
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Jan 1, 2015 21:54
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more like this inflatable wife
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Jan 1, 2015 22:01
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DAT NIGGA HOW posted:nope, i bought some back when it was 600, then again at 450, so now i'm only buying back when either I have no bitcoin left (not likely since i dont really spend it much) or the price starts going up again. like if you'd bought a couple hundred back when they were enthusiast toys or something, and now your $50 could turn into a bonanza of free electronics, congratulations for benefiting from the stupidity of crowds but why would you bother with all of this? I mean, I guess if you're buying drugs. can you still buy drugs with bitcoins?
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Jan 1, 2015 22:02
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indigi posted:wrong, cause most of the asic miners are limited to hashing 1mb blocks, so none of them will ever under any circumstances follow the fork, and the frisbee will be firmly entrenched on the roof. it's why it hasn't been changed already - most blocks don't get near 1mb, so raising that limit would have no practical effect for a while beyond making all the specialized mining hardware instantly obsolete i don't know man, asic hardware becomes obsolete very quickly anyways. if gavin blesses a release that raises the block limit, the asic manufacturers have no choice but to make new hardware, supporting the new 10mb limit. what makes you think miners are not going to get these new machines? quote:even if that weren't true, though, once transaction volumes are high enough miners would obviously enforce an artificial block size in order to make more money off of fees. especially once the reward halves next year or whenever. if its so obviously going to happen, then why hasn't it happened yet? furthermore, why hasn't the network been hacked to its knees yet? if the protocol is supposed to be so lovely, why can the sony hackers also take down bitcoin? shouldn't bitcoin be an easier target than a multinational corporation?
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Jan 1, 2015 22:03
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DAT NIGGA HOW posted:i don't know man, asic hardware becomes obsolete very quickly anyways. if gavin blesses a release that raises the block limit, the asic manufacturers have no choice but to make new hardware, supporting the new 10mb limit. what makes you think miners are not going to get these new machines? unlike bitcoin multinational corporations have value
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Jan 1, 2015 22:07
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DAT NIGGA HOW posted:i don't know man, asic hardware becomes obsolete very quickly anyways. if gavin blesses a release that raises the block limit, the asic manufacturers have no choice but to make new hardware, supporting the new 10mb limit. what makes you think miners are not going to get these new machines? quote:if its so obviously going to happen, then why hasn't it happened yet?
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Jan 1, 2015 22:09
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DAT NIGGA HOW posted:i don't know man, asic hardware becomes obsolete very quickly anyways. if gavin blesses a release that raises the block limit, the asic manufacturers have no choice but to make new hardware, supporting the new 10mb limit. what makes you think miners are not going to get these new machines? Good poo poo, keep posting.
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Jan 1, 2015 22:09
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there was this one guy who rode across the USA spelling a sentence in GPS log points. it said "READ AYN RAND". Then and there I made a solemn promise to myself to never, ever read anything by Ayn Rand. e: this bag of dicks: http://worldsbiggestwriting.com
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Jan 1, 2015 22:09
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DAT NIGGA HOW posted:if its so obviously going to happen, then why hasn't it happened yet? furthermore, why hasn't the network been hacked to its knees yet? if the protocol is supposed to be so lovely, why can the sony hackers also take down bitcoin? shouldn't bitcoin be an easier target than a multinational corporation? A2: apathy; ultimately it is a gizmo used mostly for low-end inefficient currency trading driven by "gee whiz" which has now metastatized into "any day now, our bodies will literally transform into bitcoin, hodl" A3: 'stupid internet money hacked' is a one article item; 'mysterious hack of major studio' gets the president yelling at north korea
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Jan 1, 2015 22:11
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"i'm a software developer, these are my opinions on economics" - literally every buttcoiner
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Jan 1, 2015 22:12
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Nessus posted:so what's the point of all this then because i only bought what i could afford to lose. i have no reason to sell my bitcoin. maybe if i need 10K for a heart transplant, i'll have to sell some bitcoin. which reminds me!!!! last lear right before April 20, 2013, i had to sell some bitcoins into dollars so that I could pay my taxes. the government was going to charge me an extra $500 to accept my taxes via credit card, so I was forced to pay my taxes with a check. but i had also just paid off my credit card (which had a lot on it because i had to get a bunch of car repairs). basically i had to either sell some stocks or sell some bitcoin in order to have enough USD in my bank account to clear the tax check. this is basic normal people stuff with moving money between accounts and such. the point is that i really have sold bitcoin, and i did it with coinbase. i think i sold 5K or so.
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Jan 1, 2015 22:12
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DAT NIGGA HOW posted:furthermore, why hasn't the network been hacked to its knees yet? if the protocol is supposed to be so lovely, why can the sony hackers also take down bitcoin? shouldn't bitcoin be an easier target than a multinational corporation? This is pretty retarded FYI. Bitcoin, the protocol, it's very cryptographically secure. The security of the protocol has never been the issue. As long as "no chargebacks" is a key feature of the standard (and I suspect it's an inherent flaw in all blockchain tech without a possible solution) it will never be an acceptable solution because a local security fault could irrevocably destroy the entity with the security hole, either a person or a corporation.
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Jan 1, 2015 22:13
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wtf I skip sox pages and an actual bitcoin haver appears.
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Jan 1, 2015 22:13
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Right now, if you fail to secure your credit cards properly, there is no risk to you of transactions that cannot be reversed. There is nothing that can be done if your bitcoins are taken.
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Jan 1, 2015 22:18
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DAT NIGGA HOW posted:because i only bought what i could afford to lose. and if so how much money have you sunk into the drat thing buying one or two a couple of years ago would have a certain venture capital logic if you had lots of money to burn
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Jan 1, 2015 22:19
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FCKGW posted:oh man I forgot that nicsho was working on a weekly hour-long buttcoin podcast 
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Jan 1, 2015 22:19
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DAT NIGGA HOW posted:i don't know man, asic hardware becomes obsolete very quickly anyways. if gavin blesses a release that raises the block limit, the asic manufacturers have no choice but to make new hardware, supporting the new 10mb limit. what makes you think miners are not going to get these new machines? because the devs say ok 10mb blocks are ok, but nobody of consequence owns a miner capable of dealing with them, so there's a fork and it's back to 1mb. the asic makers would have to pre-emptively design new hardware, AND the big miners would have to BUY it, in order for the changeover to work without a fork keeping it at 1mb. I'm not sure there's another way to make it work.
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Jan 1, 2015 22:21
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i missed you how
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Jan 1, 2015 22:25
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DNova posted:because the devs say ok 10mb blocks are ok, but nobody of consequence owns a miner capable of dealing with them, so there's a fork and it's back to 1mb. the asic makers would have to pre-emptively design new hardware, AND the big miners would have to BUY it, in order for the changeover to work without a fork keeping it at 1mb. I'm not sure there's another way to make it work. realistically, any change that would result in a hard fork would have to be done with the miners and asic manufacturers working together. basically all the arguments against bitcoin are theoretical. all evidence of bitcoin's success are based on actual reality. you can actually use bitcoin right now. i'm not saying theres some theory that says bitcoin should work. i'm saying its a system that exists right now that you can use right now. if you believe that then i guess that makes you a bitcoiner.
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Jan 1, 2015 22:30
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protip: "dat nigga how" has never proven to actually own any bitcoins besides a 0.01 bitcoin wallet so all his bragging is bs
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Jan 1, 2015 22:31
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the poop is touching this thread
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Jan 1, 2015 22:32
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JFairfax posted:Wasn't there an X-Files episode where someone couldn't be in shadows or bad things happened? soft light the guys shadow would disintegrate people after some scientific experiment or something
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Jan 1, 2015 22:34
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FCKGW posted:oh man I forgot that nicsho was working on a weekly hour-long buttcoin podcast  is nacho still going ahead with that
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Jan 1, 2015 22:34
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DAT NIGGA HOW posted:realistically, any change that would result in a hard fork would have to be done with the miners and asic manufacturers working together. To accomplish what thing that cannot be accomplished by conventional banking? Also, the whole thing folds when Bitpay and coinbase crash from their nonsense business model. But sure, use a higher risk system for no reason.
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Jan 1, 2015 22:34
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it is in direct conflict to the economic well being of pool operators to vet an upgrade to 10mb please address my statement using the word sidechains
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Jan 1, 2015 22:35
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sometimes, when arguing about the finer points of retardedness in bitcoin, you have to take a step back and look at it as a whole and realize jusus christ this is the stupidest thing ever wtf am i even bothering to talk about this for, its like arguing about the hue of a flag's fringe with a freeman
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Jan 1, 2015 22:37
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Nessus posted:do you think it is in fact going to the moon eventually it will it probably won't happen for another year or maybe more. in the past i've said i think the next bubble will happen summer 2014, but now I think it'll happen probably right after the next US presidential election. i originally bought in for like $100, then bought in a few more times. All in all i think i'm pretty much even in terms of what i've put in and what i've taken out. more importantly, im in a position where i don't have to worry about the price going to zero. i feel like what i have is enough for me to retire if the price really does "go to the moon". i put money into bitcoin in the same way someone puts money into their IRA or 401K. buying bitcoin now is a better idea that buying it two years ago. more places accept it, the network is stronger, more press has been said about it, etc etc. the thing is, usually if something really sucks, people don't talk about it. why does it seem like people keep talking about bitcoin more and more and more? if it sucks so much, why don't people just stop talking about it? why doesn't yospos stop talking about it?
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Jan 1, 2015 22:42
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