Bitcoin - Part 2

[BobTheCoward]

The description of miners as a "central authority" is seriously flawed - especially since they have nothing to do with cryptocurrency exchanges. Anybody who would make up such nonsense is no expert.

The only consideration in getting a valid transaction onto the block chain is whether you have offered enough of a fee to get a miner to do so. Even if one miner chose to boycott your wallet, others would not.

Absolutely disagree. The point at Which a person wants to refer to a group as a central authority is pure perception.

 

[psionl0]

Absolutely disagree. The point at Which a person wants to refer to a group as a central authority is pure perception.

Stop playing semantics! Either an entity has "authority" (the power to grant permission) or not. Either the recording (on the blockchain) is centralized or it is distributed.

 

[BobTheCoward]

Stop playing semantics! Either an entity has "authority" (the power to grant permission) or not. Either the recording (on the blockchain) is centralized or it is distributed.

Absolutely disagree that it is playing.

 

[psionl0]

Absolutely disagree that it is playing.

Writing silly one-liners instead of discussing the substance of a post is the very definition of playing.

 

[PartSkeptic]

Last post on 3 April was:
If I sold it all today I would get 100 x $7334 = $733,400.
I had $0 and 100 bitcoin as my start.
Now I have $146,680 and 80 bitcoin.

13 April
Price now 7812. Time to sell the peak.

Let me sell 40 bitcoin.
Now I have $459,160 and 40 bitcoin = Current worth $771,640

 

[PartSkeptic]

Stop playing semantics! Either an entity has "authority" (the power to grant permission) or not. Either the recording (on the blockchain) is centralized or it is distributed.

I think what they are trying to say is:

In theory it is distributed.

In practice it is centralized.

 

[psionl0]

In theory it is distributed.

In practice it is centralized distributed.

ftfy.

 

[PartSkeptic]

Originally Posted by PartSkeptic View Post

In theory it is distributed.
In practice it is centralized distributed.

ftfy.

No. You fixed that for yourself. You were given the facts. You are trying to change the message. That does not change the facts.

 

[psionl0]

You were given the facts. ....

As were you. The difference that I understand the facts.

"Top four" miners is the very definition of a decentralized network - especially if they are not in collusion with each other.

 

[BobTheCoward]

Writing silly one-liners instead of discussing the substance of a post is the very definition of playing.

It is neither silly nor a one liner. It is concise.

 

[Samson]

Bitcoin is defying rational beings, this rally looks set to continue.

 

[phiwum]

Bitcoin is defying rational beings, this rally looks set to continue.

Ooh, insightful.

What a wise fortune teller. We're all real impressed.

 

[Eddie Dane]

I'm still not invested in any Crypto, and I'm happy with my lack of decision.

Truth be told, less happy with my lack of decision before the value of BTC blew up. If I'd put a thousand bucks in it then, I'd be posting from my yacht and you'd all be nothing to me. Nothing.

But now I have to get back to work.

 

[psionl0]

Bitcoin is defying rational beings, this rally looks set to continue.

The sudden sales spikes and price jumps are interesting. I don't have enough information to explain them but I'm sure that it is more than TA.

 

[BobTheCoward]

Are the true believers happy? As a zealot myself, I'm always curious about my fellows in other areas.

 

[phiwum]

I'm still not invested in any Crypto, and I'm happy with my lack of decision.

Truth be told, less happy with my lack of decision before the value of BTC blew up. If I'd put a thousand bucks in it then, I'd be posting from my yacht and you'd all be nothing to me. Nothing.

But now I have to get back to work.

Right, me too.

But I am laughing at you from my yacht. Well, dinghy.

 

[trustbutverify]

Bitcoin is defying rational beings, this rally looks set to continue.

Apparently, a market is "rational" when it behaves in line with your random guesses, and irrational when it doesn't.

 

[PartSkeptic]

As were you. The difference that I understand the facts.
(snip)

Lots of laughs.

Hmm. Price up to $8,106.

 

[psionl0]

Are the true believers happy? As a zealot myself, I'm always curious about my fellows in other areas.

The only true believers here are the ones who insist that all cryptocurrencies will vanish in a puff of smoke (they have been predicting this many times each year).

And no, they are not happy. Not a single one of their apocalyptic scenarios has ever panned out.

 

[BobTheCoward]

The only true believers here are the ones who insist that all cryptocurrencies will vanish in a puff of smoke (they have been predicting this many times each year).

And no, they are not happy. Not a single one of their apocalyptic scenarios has ever panned out.

I was referring to advocates that hoped for a currency free of government. The same way I wonder how old maoists in China feel today.