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Message
re: Is bitcoin gaining legitimacy?
Posted on 11/19/13 at 5:05 pm to WikiTiger
Posted on 11/19/13 at 5:05 pm to WikiTiger
quote:Okay Mr. Kettle. You want to talk about half truths and misunderstandings? How about you claiming Bitcoins could be made 100% anonymous? You have had to revise that claim to mostly anonymous. You claimed you could hide your transactions and make them untraceable, to which I informed you that the blockchain was a record of every transaction, and you scoffed at me. Who was right? Maybe we should ask the Dred Pirate Roberts? I've pointed out limitations that will prevent Bitcoins from ever becoming useful as a currency, such as the time and cost of validating a transaction. Every step of the way I have been proven correct.
Poodle, you continue to spread techo-FUD that is full of half truths and misunderstood technologies.
One thing I can state without any doubts is that you are economically clueless. You refuse to accept conclusions drawn from numerical evidence provided to you. The only reason to challenge the conclusions is to doubt the accuracy or validity of the numerical data, or to question the validity of the mathematical models themselves.
quote:Only problem is that any change in difficulty is limited as the target never changes by more than a factor of 4 in either direction. So the decrease in difficulty may be proportionally less than the decrease in network hashing. This would cause the time to achieve a solution to increase, and the electricity cost of mining is a function of time. So perversely, it is possible that a decrease in competition could make mining less profitable, or an increase in competition could make it more profitable, for any 2 week period (the desired time to mine 2016 blocks at a 10 minute per block rate). It might take several retargets for difficulty to reach the full impact of changes in computing power.
Also, understand the mining process better and how it will naturally find an equilibrium of profitability. If mining becomes too expensive, then miners will drop out. If miners drop out, then the difficulty goes down. If difficulty goes down, then mining becomes more profitable.
Don't you find it ironic that the Bitcoin mining market is regulated by caps on the changes in target to keep the difficulty from fluctuating too greatly?
3
Posted on 11/19/13 at 8:06 pm to Poodlebrain
quote:
Poodlebrain
you seem to know just as much if not more than Wiki about BC
and it definitely seems like he feels threatened by your knowledge on here…he's already resorting to name calling when you as you ask legitimate questions:
quote:
Poodlebrain, you continue to amaze me with your stupidity
Posted on 11/19/13 at 9:09 pm to LSUzealot
quote:
you seem to know just as much if not more than Wiki about BC
if you believe that then you are as big of a moron as poodle brain. I assure you the poodle is very ignorant of the technical workings of bitcoin.
not only that, but ask him why he resorted to lying about me claiming bitcoin is anonymous. from the second thread I ever started on bitcoin over a year ago I have consistently referred to it as pseudonomynous. and I have explained to poodle at least 5 times how with taking the proper precautions that it can be used anonymously. he refuses to believe that. he continues to post misunderstanding after misunderstanding of the technology and if there were any other bitcoin savvy posters on this site they would laugh at him non stop.
Posted on 11/19/13 at 9:14 pm to Poodlebrain
quote:Jesus. He's stated a million times that without the proper precautions, you can lose your anonymity but if one does take the proper precautions, then it is nearly impossible for anyone to figure out who owns the bitcoins.
You claimed you could hide your transactions and make them untraceable, to which I informed you that the blockchain was a record of every transaction, and you scoffed at me. Who was right?
Posted on 11/19/13 at 9:16 pm to Poodlebrain
I tried to tell this wiki character a while back that there was no such thing as anonymity unless you unplugged your computer from the wall and he retorted about how he knew through his work in cyber security that he was secure because encryption is impossible to crack.
Then I realized he's a lonely troll that can only respond with reddit links and plays this character on TD jacking off all over things like bitcoin because peoples' lack of knowledge about it makes him feel smart when he links the reddit articles.
Then I realized he's a lonely troll that can only respond with reddit links and plays this character on TD jacking off all over things like bitcoin because peoples' lack of knowledge about it makes him feel smart when he links the reddit articles.
Posted on 11/19/13 at 9:30 pm to Gmorgan4982
quote:bullshite. He was adamant that you could completely cover the tracks of your transactions by mixing them. He only conceded that it would be very difficult for someone to track them after the arrest of Ross Ulbricht.
He's stated a million times that without the proper precautions, you can lose your anonymity but if one does take the proper precautions, then it is nearly impossible for anyone to figure out who owns the bitcoins.
Posted on 11/19/13 at 9:32 pm to Gmorgan4982
quote:
He's stated a million times that without the proper precautions, you can lose your anonymity but if one does take the proper precautions, then it is nearly impossible for anyone to figure out who owns the bitcoins
you'd think with as smart as he supposedly is that he would be able to comprehend that.
also, why do you think these guys continue to make up lies about things I've said? the other day I had to RA a blatant and offensive lie that lsurussian posted. thankfully the admins quickly deleted it.
Posted on 11/19/13 at 9:33 pm to Poodlebrain
So whether they're anonymous or only anonymous with some precautions, I don't see the difference. You can lose anything of value if you don't take precautions.
Posted on 11/19/13 at 9:34 pm to Poodlebrain
quote:
ullshit. He was adamant that you could completely cover the tracks of your transactions by mixing them. He only conceded that it would be very difficult for someone to track them after the arrest of Ross Ulbricht
holy shite, your reading comprehension skills are awful.
shite man, ulbrecht wasnt even caught through block chain analysis. wtf are you ever talking about?
Posted on 11/19/13 at 9:35 pm to WikiTiger
quote:Well, I don't read every bitcoin thread but I've just seen you say that they're not fully anonymous a million times. I don't know why it's such a big "gotcha" point for them other than they are desperate to look like experts and make you look silly.
also, why do you think these guys continue to make up lies about things I've said?
Posted on 11/19/13 at 9:46 pm to WikiTiger
quote:
the other day I had to RA a blatant and offensive lie that lsurussian posted. thankfully the admins quickly deleted it.
I'm calling BS.
What post of mine about you was deleted? Be specific. I have not seen any of my posts deleted regarding bitcoin.
But it's good to know you went whining to admins.
Posted on 11/19/13 at 10:09 pm to Gmorgan4982
quote:He says it's anonymous, not almost anonymous. 6/13/13 post
I've just seen you say that they're not fully anonymous a million times
It's not a "gotcha" effort. It just shows how wiki frequently changes his story about the benefits of bitcoin every time there is a new example of how his previous description(s) have been incorrect.
Posted on 11/20/13 at 7:01 am to LSURussian
quote:I remember
What post of mine about you was deleted? Be specific. I have not seen any of my posts deleted regarding bitcoin.
it was a post about CP
Posted on 11/20/13 at 8:00 am to Pilot Tiger
quote:What is 'CP'?
it was a post about CP
Posted on 11/20/13 at 8:10 am to LSURussian
child porn
Posted on 11/20/13 at 8:42 am to Pilot Tiger
You remember it but we're supposed to believe that he doesn't.
Posted on 11/20/13 at 9:25 am to WikiTiger
Are you referring to when I paraphrased your post where you tried to use a really simple-minded (and stupid) method to project the eventual value of bitcoin by saying everyone should consider how much the potential market share is worldwide for illegal drugs, porn, hiding money from governments, migrant workers wiring money, avoiding taxes, "etc" and dividing that number by 21,000,0000? Was that deleted? I didn't notice that it was deleted, if is was.
I don't blame you for wanting that post deleted. It made you look stupid trying to make such a nonsensical calculation, as if a bitcoin can only be spent once a year and not spent multiple times each year. You still suck at financial math and logic.
I did not accuse you of child porn, if that is what you are trying to claim. It was your example of the major ways bitcoin has been or could be used to purchase goods and services.
And we all know Silk Road, the former largest bitcoin merchant, was infamous for its kiddie porn market segment. That has been mentioned several times in several threads on here and on the Poli Board. And you have posted that other sites are already up and running replacing Silk Road's products.
If you don't want to have your own posts repeated back to you, stop posting stupid stuff.
I don't blame you for wanting that post deleted. It made you look stupid trying to make such a nonsensical calculation, as if a bitcoin can only be spent once a year and not spent multiple times each year. You still suck at financial math and logic.
I did not accuse you of child porn, if that is what you are trying to claim. It was your example of the major ways bitcoin has been or could be used to purchase goods and services.
And we all know Silk Road, the former largest bitcoin merchant, was infamous for its kiddie porn market segment. That has been mentioned several times in several threads on here and on the Poli Board. And you have posted that other sites are already up and running replacing Silk Road's products.
If you don't want to have your own posts repeated back to you, stop posting stupid stuff.
Posted on 11/20/13 at 9:26 am to LSURussian
quote:
He says it's anonymous, not almost anonymous. 6/13/13 post
Well well. There it is.
Posted on 11/20/13 at 9:42 am to LSURussian
your post insinuated that wiki was involved with, took part in, or supported CP
I remember reading it and thinking that it went too far.
It was not paraphrasing wiki's valauation method for bitcoins.
it was a sarcastic dig at him that crossed the line.
it was removed quickly by the admins and I'm surprised you "dont remember"
I remember reading it and thinking that it went too far.
It was not paraphrasing wiki's valauation method for bitcoins.
it was a sarcastic dig at him that crossed the line.
it was removed quickly by the admins and I'm surprised you "dont remember"
Posted on 11/20/13 at 10:03 am to Pilot Tiger
quote:If that is how it came across then I owe wiki a sincere apology. It was not my intent to accuse him of that.
your post insinuated that wiki was involved with, took part in, or supported CP
I remember reading it and thinking that it went too far.
My entire point was to criticize his "analysis" for projecting an eventual value for bitcoin based on what the bitcoin market is, including the Silk Road site's goods and services, which included illegal pornography, and dividing that "market" by the eventual number of bitcoins issued, as if that were a proper way to value a 'reusable' currency.
Wiki, based on PT's post which I trust to be an accurate description of how my post was perceived, I apologize to you for giving the impression I was accusing you of using child porn. I never intended that.
But your valuation analysis still sucks....
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