/biz/ - Business & Finance

>>4177338
take this to /x/ please

Fuck that chinkcoin BCH and fuck satoshi's vision, you stupid fanatic. Kys.

>>4177338
fucking bitcoin dev quoting bible scriptures and shit.

mah 1mb block is enough size forever.

>satoshi's vision

What a weirdo

Holy shit luke-jr is a blockchain dev? I remember debating this dude like 2 years ago

even the name block the stream and bitcoin core is an oxymoron. the whole thing with bitcoin is that it doesn't have a core you fuckwits

LUKE DASH LOOKS LIKE *THAT*???

>>4177446
>my shitfork is the real fork
>muh satoshis vision
>yfw satoshi was against forks

>>4177446
Uh, are you retarded?

https://bitcoincore.org/en/team/

remember kids: satoshi's vision is EDA, 100% of mining power inside of china, and a few unaccountable anonymous developers

lol is this some kind of reverse-psyop to make bittcoin cash look bad?

>>4177338
but slavery is moral

>>4177473
Yes, key part is "the importance of staying with the official version"

IMO, the official version is what constitutes to Satoshi's original idea. Second Layers, Block sizes, all these changes WERE NOT part of the original vision.

>>4177473
yes satoshi wanted the block size to stay at 1mb forever.
how fucking stupid are you, there was two years of debating axa puppets like core and blockstream to just increase the blocksize. The fork was the last resort and proof that bitcoin can withstand corporate takeover

>>4177479
>>4177517

The true Core

>>4177338
>Believes the Earth is flat

it is. (((science))) is just lying to you to spread false hope so that they can control you better

>Believes Sun revolves around Earth

it does like it says in the bible.

>Has 6 kidsl Christian extremist.

nothing wrong with that unless you are an anti white SJW

>Thinks "slavery is still moral"

There are millions of unemployed NEETS in the country right now who would have been better off working as slaves

>Thinks God allows murder/rape to happen to give you chance to stop it

God has a plan for everything. If you got raped maybe you shouldn't be dressing like such a whore during your nights out

>>4177510
he made it perfectly clear that second layers were eventually a necessity, you could argue that we don't need them yet, but that doesn't change the fact that he recognized and understood the requirements of scaling a blockchain better than any of these bcash scam artists do.

>>4177446
>>4177517
>>4177533
It's ok guys its just Luke himself.

>>4177561
so you think a 1mb blocksize is a good idea

>>4177517
I don't give a fuck what satoshi wanted. The point is, whatever changes implented via a hardfork must be non-contentious, otherwise the resulting fork is an altcoin (BCash, 2x, etc). There is no unanimity to increase the blocksize so niggers can transact their worthless shit, at the expense of centralizing the network. Satoshi also predicted how users would be against increase of the blocksize so people could run nodes.

>>4177510
No, the official version is the official version, stop circlejerking.

>IMO, the official version is what constitutes to Satoshi's original idea. Second Layers, Block sizes, all these changes WERE NOT part of the original vision.

Satoshi talked about payment channels ages ago.

why are his eyes pointing opposite directions?

>>4177600

So he can monitor the price of bitcoin with his left eye and price of link with his right

also, Bitcoin Cash > B2X

I'd rather have Ver & Chink in control than fucking jews, which is exactly what Segwit is - a jewish banker takeover of the "pesky goy crypto".

>>4177583
What's the tldr on this?

Did the original white paper specify block sizes?

Bch is mooning for no apparent reason from my perspective, this is weird.

>>4177594
increasing the blocksize to 8mb centralizes the network by less than 1 %. it costs 21million to provide 1% of the btc 1mb hash rate there is no such thing as small btc miners. Meanwhile bitcoin is not usable as a currency when a 1mb block increases fees and confirmation times.

the only reason you would want a 1mb block (which is a completely arbitrary number) is because you can make money off your side chains

>>4177594
>>I don't give a fuck what satoshi wanted.
I stopped reading your post after this sentence hopefully you did not spend too much time on it.

>>4177537
>Mike Hearnia
kek

https://cointelegraph.com/news/how-mike-hearn-sold-all-his-bitcoins-in-2016-and-market-proved-him-wrong

>Gavin "CIA picnic" Andresen

https://coinjournal.net/gavin-andresen-mike-hearn-will-be-the-benevolent-dictator-of-bitcoinxt/

kek

>Jeff Garzik

https://keepingstock.net/the-corporate-takeover-attempt-of-bitcoin-eb87c18fad60

kek

>>4177627
1mb was set as arbitrary limit to reduce spam transactions and was always intended to be increased when genuine transactions were bumping off the limit (this has been happening for 2 years)

it is impossible to justify a 1mb with a technical evidence based argument but it easy to understand the motivation of a company that has patents on side chain technology to try and maintain slow on chain transactions

>>4177638
>increasing the blocksize to 8mb centralizes the network by less than 1 %

Wrong.

>the only reason you would want a 1mb block (which is a completely arbitrary number) is because you can make money off your side chains

Or because you are wrong and I dont want (((CoinbaseTM))) and (((Bitmain))) to run a node for me.


>(which is a completely arbitrary number)

>21 million limit coin is an arbitrary number, let's increase it

satoshis vision satoshis vision!

theyre just banking on the fact most people havent read the white paper and dont have a fucking clue about satoshis vision. fuck outta here

>>4177660
Ahhh thanks, makes sense. There's so many angles to try and force Jewry on btc now. I'm enjoying the show, it's pretty funny how it's the Chinese farming the e gold as always.

Is r bitcoin worth watching? Any thoughts on eth moving no where?

>>4177666
>Or because you are wrong and I dont want (((CoinbaseTM))) and (((Bitmain))) to run a node for me.

Nice check faggot

Riddle me this. If you don't want Cohenbase or Bitman to "control" your nodes n shit - who will?

I hope you are aware there will never be 100% "people's Bitcoin" out there, since we live in competitive world...

So you can choose...autistic chink (BCC) or a fuckin rat kike (B2X)?

>>4177666
>Or because you are wrong
nice argument
>21 million limit coin is an arbitrary number
6 blocks per hour
* 24 hours per day
* 365 days per year
* 4 years per cycle
= 210,240
~= 210,000Calculate the number of blocks per 4 year cycle:

6 blocks per hour
* 24 hours per day
* 365 days per year
* 4 years per cycle
= 210,240
~= 210,000
Sum all the block reward sizes:

50 + 25 + 12.5 + 6.25 + 3.125 + ... = 100
Multiply the two:

210,000 * 100 = 21 million.
Economically, because the currency is effectively infinitely divisible, then the precise amount doesn't matter, as long as the limit remains fixed.

>what satoshi said
>what satoshi wanted

When did Bitcoin turn into a cult?

>>4177679
the disproportionate hashpower of the chinese is the part that annoys me about core refusing to increase the blocksize and forcing a hard fork but as adoption grows other countries will invest in mining see japan, russia and iran.
rbitcoin is full of memes. eth isn't going anywhere for 6 months

>>4177594
Leftists are a cancer everywhere.

>>4177699
>If you don't want Cohenbase or Bitman to "control" your nodes n shit - who will?
Uhm, you do know that it’s possible to run a full node for yourself, right? Only – and this is the exact point here – with bigger blocks it starts taking to much resources you’re only left with the choice of investing quite a bit of money, or saying 'fuck it' and using (partly) centralized solutions.

>>4177703
>ignores picture containing actual data
"nice argument"

>>4177699
>who will?

Me? Im doing it right now (thanks to a non retarded blocksize). You seem new.

>So you can choose...autistic chink (BCC) or a fuckin rat kike (B2X)?

Both are dead, lurk more.

Listen in 49:00 on why big block sizes are retarded:

https://www.youtube.com/watch?time_continue=2941&v=iFJ2MZ3KciQ

>>4177763
8mb blocks are not too expensive for people, moores law has not stopped. Bitcoin does not need everyone to run a node

>>4177777
quints confirm. Big blockers FUBAR'd

>>4177643
If you want a "president of the coin im holding" you might enjoy Ethereum more.

>>4177782
FILTH

OUT

>>4177744
Increasing block sizes BENEFITS the chink miners, dumbshit.

>>4177811
i know that but a 1mb block which makes using bitcoin as a currency impossible is worse than the chinese having more hash power for a little while

>>4177594
>hardfork must be non-contentious
The only reason they are "contentious" iss because of core
Ofc they need to strangle btc. Since they barely own any, they need their sidechain shit to work to earn any money

>>4177805
provide an argument you fool

>>4177782
Huh? What about the chart posted here? >>4177666
You want me to commit 32 GB RAM to running a node?

>>4177848
>>4177863
nobody in their right mind would use btc as a currency right now with this much volatility. figure it out.

>>4177867
Email from Satoshi Nakamoto to Mike Hearn:

"Hi Mike,
I'm glad to answer any questions you have. If I get time, I ought to write a FAQ to supplement the paper.
There is only one global chain.

The existing Visa credit card network processes about 15 million Internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. It never really hits a scale ceiling. If you're interested, I can go over the ways it would cope with extreme size. By Moore's Law, we can expect hardware speed to be 10 times faster in 5 years and 100 times faster in 10. Even if Bitcoin grows at crazy adoption rates, I think computer speeds will stay ahead of the number of transactions.

I don't anticipate that fees will be needed anytime soon, but if it becomes too burdensome to run a node, it is possible to run a node that only processes transactions that include a transaction fee. The owner of the node would decide the minimum fee they'll accept. Right now, such a node would get nothing, because nobody includes a fee, but if enough nodes did that, then users would get faster acceptance if they include a fee, or slower if they don't. The fee the market would settle on should be minimal. If a node requires a higher fee, that node would be passing up all transactions with lower fees. It could do more volume and probably make more money by processing as many paying transactions as it can. The transition is not controlled by some human in charge of the system though, just individuals reacting on their own to market forces.

Eventually, most nodes may be run by specialists with multiple GPU cards. For now, it's nice that anyone with a PC can play without worrying about what video card they have, and hopefully it'll stay that way for a while. More computers are shipping with fairly decent GPUs these days, so maybe later we'll transition to that."

~ Satoshi Nakamoto

>>4177885
http://pricedingold.com/us-dollar/

>>4177848
You're a fucking retard. No one wants or needs to use bitcoin or any bitcoin shitfork as a currency whilst the market caps are so low thus making them highly volatile. Volatility = bad.
The only ones peddling muh currency bullshit is jihan and ver as segwit fucked their bitcoin mining gravy train in the ass. Segwit 2x is nothing more than a last ditch, futile attempt by jihan and friends to fuck bitcoin core segwit and have bcash replace them both as the dominant chain.

>>4177848
Using it as a censorship resistant store of value/digital gold is more important than using it as a fucking "currency".

If your currency can't be a store of value, it's shit and you might as well not even use a blockchain (Ripple).

And guess what, once datacenters are running nodes instead of people around the world, attackers could easily target these corporations and bribe them into doing whatever (((they))) want. If it's random NEETs running nodes all over the world behind Tor, the network is unbeatable.

That's why LN (which is an open source protocol and anyone can work on their own implementations, so stop acting as blockstream monopolizes it when anyone is free to compete) would serve for niggers to transact nigger tier transactions in a fast, cheap and clearly more decentralized way than VISA.

If I had to send 100 bucks or less of BTC myself I would use LN if it was availible. It will eventually. And it will be easy as fuck to use (see vid). Until then, pay the fee or use your fucking BCash or LTC and stop trying to fuck Bitcoin up for these that actually have relevant amounts of money invested.

>>4177929
>Segwit 2x is nothing more than a last ditch, futile attempt by jihan

>>4177929
volatility in a currency disappears when economies are priced in that currency because the currency become tied to the value of the resources and services it is transacting. Bitcoins volatility will reduce with adoption which is being made impossible by small blocks

>>4177938
bitcoin is not as good as physical gold as a store value because it doesn't have as much redundancy. Gold's monetary properties are based on physics bitcoins are still dependent on the internet becoming indestructible, ubiquitous and decentralised.

the only reason bitcoin is the revolution it is is because it combines the benefits of currency and gold.

>>4177956
Wrong. Volatility decreases as market cap increases which has nothing to do with small blocks. A trillion dollar market cap would mean swings of 10%+ in a day would only occur due to severe changes in underlying fundamentals.

>>4177983
why are small blocks hindering its adoption?

>>4177338
why would anyone entrust bitcoin to a redneck junkie

>>4177983
Bitcoin is better than gold. The fact that it's intangible is positive. The internet will never be destroyed. If the internet is fucked all over the world, it would mean you are already dead.

We already have satellites anyway.

If you want a fucking digital currency that doesn't care about decentralization of it's nodes, then use any of the existing shitcoins out there (which are fast and cheap because nobody uses them). You can't have both.

>>4177991
no you're wrong if bitcoin remains a speculative asset the swings will depend on the nominal amount of bitcoins have. If contries start trading oil etc in bitcoin the price will become attached to real economic activity not just speculation on exponential growth trends

>>4177993
because you cannot make everyday transactions in it because you would have to stand in the shop for an hour and pay more in fees than what you were buying

>>4177895
>Appeal to authority
I do not deny that it is interesting what Satoshi himself envisioned; but this does not make any technical or philosophical argument more true or less true.

>>4177895
Nice cryptographically signed email. And in the small chance it's legit, it is shameful to share private messages, specially a guy whose live depends on his anonimity, a guy that disappeared after Gavin went at the CIA for a picnic btw. In any case, satoshi's data was wrong at the time, which he realized later.

Here's actual satoshi in a more recent message, predicting how people would oppose to increase the blocksize in order to keep participating on it.

>>4178027
>If contries start trading oil etc in bitcoin t
Institutional transactions wouldn't require an huge blocksize because time is not a problem and the higher fee would be a benefit in order to transact in a network that isn't controlled by an adversarial country which happens to be a dominant "node-runner". There's enough centralization in mining, you don't want the actual network to end up like that too.

>because you cannot make everyday transactions in it because you would have to stand in the shop for an hour and pay more in fees than what you were buying

No amount of blocksize increases would allow for mainstream grocery shoping on-chain. Again, refer to: >>4177938

>>4178023
I think bitcoin is the first invention in history that can make gold redundant but you are a fool to think it is there now.

I care about the centralization of nodes but I do not agree that the centralization that would occur with 8mb blocks would outweigh the negative affect small blocks have had on adoption

>>4178041
its not an appeal to authority it's refuting the fact that everyone running free nodes should be the only criteria for not increasing the blocksize when it's become unusable as a currency

>>4177338
FUCK YOUR MOTHER

>>4178027
>Fiat isn't a speculative asset.

The volatility of major currencies is lower than bitcoin in spite of massive speculation because their market caps are so high.

You think the chink whales in control of highly centralised bcash want stability? Up your game, btrash shill.

>>4178109
we were arguing about what causes volatility you think it's market cap but it's not.

>No amount of blocksize increases would allow for mainstream grocery shoping on-chain.
bitcoin cash is able to today

>>4177338

you bcash retards are amazing

''Satoshi's vision guys!''
>uses EDA
>prints thousands of bitcoin a day
>4 hour block times

truly satoshis vision

>>4177354
It's all true though.
Core censors opinions and manipulates people.
BCH is the only true Bitcoin.

>>4178137
the supply of fiat is literally controlled to peg currencies to the us dollar are you that retarded?

>>4178112
Nigger there's already a LOW node count with 1mb. 8mb (with actual people using it) would make things worse. Look at the data.

>>4178162
segwit 1x
1mb blocks for no technical reason
hours to confirm
developers envision $1000 fees
core developers have conflict of interest in owning off chain solutions to slow on chain scaling they created

truly satoshi's vision

>>4178176
>What is forex?

Trillions a day are literally gambled on forex.

The fuck are you talking about pegging to the USD?

>>4178214
forex requires massive leverage because the changes are so small

>>4178233
Because the market caps of major currencies are so large, numbnuts.

Thanks for proving my point.

>>4178112
Bitcoin is already better than useless gold.

Governments can pass a law to confiscate gold at any time. So when you tried to leave your country into a non cucked country, you would get cucked as you try to cross an airport loaded with gold.

Meanwhile a Bitcoin user could be carrying billions in an USB port or even in his brain as a seed and nobody would know. This alone makes BTC worth trillions and in guaranteed demand in the long term.

>>4177354
kek. it's actually true though.

>>4178246
no because economies collapse when their exchange rates are volatile so central banks print money to the benefit of their trade. If bitcoins market cap is 600 quadrillion and satoshi dumps 20% of the supply the market cao does nothing to stop the volatility of the nominal amount of bitcoins moving

>>4178253
I agree it can be that's why I said bitcoin is the first technology can make gold redundant

>>4178302
And big blocks ala btrash/s2x solves that problem how?
Jihan and a handful of his comrades control far more than 20% of btrash and if mining becomes further centralised via s2x, they'll control more than 20% of s2x too.
Nothing stopping them from doing exactly the same as "Satoshi" could do.

>>4178372
i thought satoshi only owned 5%

that would severely reduce the effects of his dump

>>4177338
>/r/btc in full swing
Aren't you getting tired of this shit? You people can't sink any lower than this.. It's embarrassing if you think anyone in the real world can ever take you seriously.

>>4178425
It's far less than 20% but I was giving btrash shill his own rope to hang himself with.

>>4177594
segwit is an altcoin

>>4178372
Adoption stops volatility, small blocks are stopping adoption

>>4177551
go back to /pol/ retard

>>4177948
bcore is astroturfing him so hard he doesn't even know who is jewing who anymore

>>4178966
You just got owned.
>>>>>>r/btc

>>4177338
https://www.reddit.com/r/CryptoCurrency/comments/7ak5ed/ann_newest_bitcoin_fork_bitcoin_luke_btl/

>>4178859

>>4177338
Why are talented devs ultra religious ? We had Terry before, now Luke ... what does it mean ...

this nigga has some serious issues

It all boils down to this, in the debate of BTC vs 2x vs BCH

BCH currently is centralized, miners are the only one with power and one pool is running about 80% of the hashpower behind it. Only has bigger blocks going for it and its being hardforked soon to fix the inflation rate. Roger Ver even dropped it for 2x on his site bitcoin.com.

2x will be centralized by miners and companies who specialize in KYC. https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x/ You can read the emails sent between the team behind 2x. They despise that people don't want it while complaining that all nodes are equal and not just not miners. BCH was created by miners so its obvious the miners don't want it, just a bunch of companies want to control the brand "Bitcoin." They also remove any protection of users accidentally losing their bitcoins if caught on the wrong chain.

Bitcoin currently is the most decentralized, all nodes are equal. Doesn't work perfectly but its all equal. Out all of the options, its the only one chosen by people and not forced by some minority group down your throat. Although Luke Jr is insane, he's not anymore in charge than you are when it comes to Bitcoin, also he helped develop Bitcoin to become what it is today in terms of technology.
For people that are anti-core, its not just one group. Core is multiple groups of people who all have to agree fully before ever implementing upgrades to Bitcoin, not the perfect system but the best protection of Bitcoin being controlled by one group (like BCH and B2X) and potentially just become paypal 2.0 where you don't control your own property.

>>4177777

>>Blockstream = Block The Stream

>>4177679
>>4177744
Great conversion """(You)""" """two""" are having.

Go back to astroturfing reddit now. Bye.

>>4180473
Wrong. Bitcoin core clearly astroturfs on Reddit, fuck the whole reason why /r/btc was made was due to the heavy censorship on /r/bitcoin which Luke himself is a part of.

Or the entire campaign of labeling instead Bitcoin Cash as it is, they pushed the name "Bcash" to help denounce any connection to Bitcoin.

Censoring info, thoughts, ideals that would harm the value & idea of Bitcoin and increase the value of Bitcoin Cash. That is far from "the peoples choice". Unless you are a fucking commie from China,then you are used to being forced fed carefully picked out info & news.

Fuck Bitcoin Core!

>>4177777
holy quints of truth

>>4181094
>visits reddit
>thinks he matters in bitcoin

>>4180929
try again

>>4181660

Bitcoin Cash is what we always wanted...not this hijacked shit. I can see the light

>>4181094

You do know Bitcoin Cash that 80% of Bitcoin Cash's hash power comes from China, right? You're clearly paid to do this.

>>4181723
>mentioning moore's law as a solution to bandwidth problems

Confirmed for non-STEM brainlet.

BCH is shit. Core is Shit.

How long until you guys see that? Do you want me to repeatedly suck you off until you understand that? Or do you really need penetration to get it through that skull of yours?

>>4177338
BCH will win out. The US has been working with SK to find a solution for NK. We are currently funneling shitloads of US and SK money to China underground via Blockchain. End game will be China gets valueable Hashpower and lets US and SK invade NK. Media will play it out to be due to nuclear threats but the real commodity here is the valuable earth minerals that NK has been hoarding for YEARS.

You are all fucking idiots. This is bigger than blockchain. Russia has successfully aided US and SK in the covert sabotage of NK. BCH miners are getting paid more, go with the fucking money you god damn degenerates

BCH is chinkcoin
B2X is fedcoin

the road to kekistan is paved with BTC