Frogolocalypse

And the bitcoin node software i use today is version 0.15.1, not 0.8.0. The segwit block structure is different to the original implementation. One turned into the other. Nothing is stopping you running a 0.8.0 node of course. But the newer implementation has more functionality.

The bitcoin open source development team doesn't control the node i run. If you want centralized chinese government controlled crypto, there's bcash. If you were actually interested in just cheap fees, you'd use litecoin. It has been around for years. It even has segwit, unlike bcash.

If you don't run your own node, which is the aim of bcash, your ip address is tied to your payment. You have the payment processor, and the node, and the miner, all sharing the same information.

The chinese government appreciates your compliance with its crypto implementation.

The chinese government wanted a crypto they could track, because they want to own all of the mining infrastructure, all of the nodes, all of the code base and the payment gateway to it. So that's what they got. Bcash.

Yep. If you want to get your transactions tracked by the chinese government, it is cheap. Like PayPal. If you want your transactions to be private, you use a decentralized blockchain like bitcoin.

Still needs to be said. And lots. I'm a crypto investor, but i know what it feels like to have an 80% correction over the space of a year. There are a lot of people who don't even think that's possible.

I use email almost every day, yes.

You realize the arpanet is the internet right? It wasn't replaced, it was expanded. Call it layers if that would make it easier to understand.

It's nice to see some big warnings about the volatility of crypto from such established players, and the type of corrections that are envisaged. It is really important to understand how risky an asset class they are.

Where is your second internet?

He 'caved in' because bitpay was bought by bitmain, the largest centralized chinese miner.

Bitpay is owned by bitmain, the miner that controls bcash. You will have every one of your transactions tracked if you use this alt. I'm sure the chinese government will appreciate your compliance.

This is nothing more than self promotional spam.

If it wasn't working, people wouldn't be buying it. You are just going to have to accept that the great bulk of people who use bitcoin do not care about your use case.

You can do with your money what you like. There's a word for that : freedom.

> That's tautological.

No it's not. I'm saying you can fix the problem by modifying one constraint. Fix the cost of energy, and you fix your problem with energy wastage. It will make absolutely zero difference to bitcoin what the price of energy is. If energy is more expensive, mining will reduce, and bitcoin difficulty resets to the lower mining hashrate.

> Do you also suppose that we should reduce vehicle emissions by increasing the cost of gasoline?

Of course. It's ludicrous to think otherwise.

Because one is to blame and the other is not.

I got my first typewriter when i was nine, and started programming when i was 10 back in early 80's. But i didn't formally learn how to type until i had a school subject for it when i was 15. It was the best thing i could possibly have done. By the end of the course i could type error free at 65 words a minute. Now i can type faster than i can speak. I can't recommend it enough.

It's so ingrained for me I probably won't ever stop. Unless I'm on a phone that does automatic spacing. The fact that you stopped to me indicates you probably didn't do it that way for 20 years.

Supply and demand. If you want mining to reduce emissions, increase the cost of energy. Bitcoin will remain unaffected. Don't blame bitcoin because of the cost of energy. Blame the energy producers for selling it to miners at that price.

Install clean energy sources then. Charge for it, I don't care. Don't blame bitcoin because of cheap energy.

I think that just shows the age of the person. I learned how to type correctly on a typewriter, and that is the way that we learned. It means, for me, that SN, like me, was educated in the 70's and 80's, and formally learned how to type.

Disclosure : Am not satoshi.

It certainly took me some time to get my head around it, that's for sure. It wasn't even a 'penny drop' type of realization either.

It's why I'm sometimes so short with people who make statements with such confidence and finality. "Bitcoin IS this." without even really understanding the subject matter. I'm not thinking of one month/year timelines for its market penetration. I want to see what it is in another 10 years. I don't subscribe to the view that fiat is going to crash, or that type of apocalyptic talk. But I do think that we are in a 50-year-old debt-bubble, and I'm not sure it is going to be quite as difficult to 'shift', if that is even the correct word, from debt-fueled monetary instruments to credit-fueled monetary instruments. Most people don't even really understand the concept of a market-cap, and how the total value of the cap has no, or very little, relationship to the amount of capital that might be extracted from it. Bitcoin could easily be 10x or even 100x its current 'market-cap' and for it to still not really have any real relationship to monetary supply IMO. Bitcoin definitely has a relationship to gold, but more importantly, I believe bitcoin has a relationship to fixed-asset debt.

I wouldn't want to be entering a career in consumer banking though. Investment banking on the other hand... that is going to freak out over the next decade as the business of supplying debt for fixed assets that are depreciating in value reverses, and people start looking to place their investment dollars in industries that increase productivity.

Just remember bitcoin could lose 85% of its current value, and for it to only have doubled in value this year, and still be the best performing asset class in the market. Because a correction will happen. The only real question is when, and how deep.

Gold doesn't go up 15x in a single year.

> Most dollars which aren't spent on consumption are converted into equity in productive businesses.

Like real-estate?

The bitcoin price isn't controlled. Supply and demand.

The price of bitcoin disagrees with your assessment.

Until people actually run nodes to the same distribution of bitcoin, it will always be a reduced security option, and therefore won't command the same price.

If you choose an arbitrary '3 hours' you can make that fee anything. Any transaction of 50c for a standard fee until one week ago (and they'll clear too) will have been committed to the blockchain.

They shouldn't be investing in unregulated markets.

That service only includes a subset of listening nodes. That variant of node is only a fraction of the full nodes used to validate the bitcoin blockchain.

http://luke.dashjr.org/programs/bitcoin/files/charts/softwar...

160K and counting.