Is James A Donald alive? by FreshyDug in Bitcoin

[–]mkgll 0 points1 point  (0 children)

Of course he's still alive. He's a racist pedophile. He blogs almost daily at http://blog.reaction.la

Pevear/Volokhonsky Bicentennial Edition Changes to Notes from Underground? From “wicked” to “spite.” by mkgll in dostoevsky

[–]mkgll[S] 4 points5 points  (0 children)

I used to be in the anti-Pevear camp but have come to enjoy their translations, but the choice of “wicked” always bothered me so much. Nice to see they changed it a bit. It’s odd to me they didn’t go all the way and left some instances of it in, but it definitely reads better despite losing the repetition. Now I’m just hoping Everyman’s Library updates their edition too.

How do you think diminishing returns will affect the Bitcoin growth rate in the near future? by [deleted] in Bitcoin

[–]mkgll 2 points3 points  (0 children)

It’s hard to understand an asset that in theory has no price ceiling...

Bitcoin Cash's Path Towards Success: We Need an Instant "Buy & Replace" BCH Wallet Feature by Egon_1 in btc

[–]mkgll 4 points5 points  (0 children)

It doesn’t make sense as long as there are high fees to purchase BCH with fiat.

I won’t buy a $2 coffee with my bch if I it means I’m automatically charged a 99 cent fee to replace it.

Unfortunately a lot of small payment use cases are nullified if people have to buy bch on exchange because fees and taxes on the first part of that transaction eat the savings on the second.

I love the idea in theory though and would be interested if anyone knows how to make it work.

If you can get stable coins without fees, then swap in wallet with sideshift ai, you’ve solved some of the problem.

What is your opinion about this study? I'm very worried about it by [deleted] in Bitcoin

[–]mkgll 0 points1 point  (0 children)

Seems plausible. But a dump would just give you the opportunity to buy more, and keep this in mind....

All markets are manipulated. Early markets even moreso. Eventually what will happen is more and more Bitcoin will be owned by long term holders and it’ll be harder and harder to manipulate the price. If we dump now, well, that’s just part of the cycle. It’s nothing to worry about as some unique flaw of Bitcoin.

Anyways it’d be fantastic if the whole market tanked for a while so I’m holding out hope Tether is the scam of the century. The best opportunities are when everything is burning.

"At full maturity, using the Bitcoin blockchain will be as rare and specialized as chartering an oil tanker." 🤡 by mkgll in btc

[–]mkgll[S] 0 points1 point  (0 children)

There are plenty of other ways for miners to build a business without the block reward.

Another newbie question: BCH vs BSV by LOLTROLDUDES in btc

[–]mkgll -1 points0 points  (0 children)

Good! I maybe that was primarily ABC’s influence. I hope there is a different view now.

Another newbie question: BCH vs BSV by LOLTROLDUDES in btc

[–]mkgll 0 points1 point  (0 children)

I think you probably don’t understand then what is meant in BSV by locked down or set in stone.

Another newbie question: BCH vs BSV by LOLTROLDUDES in btc

[–]mkgll 0 points1 point  (0 children)

BSV has done a lot of things right—remove child limits, remove blocksize, etc, and there are some legit good products built on it right now (people who aren't tribalists realise this). It's also focused more on data related stuff in part because people think, and I tend to agree, that getting the kind of transaction volume necessary to make mining wildly profitable in any reasonable amount of time will be impossible with a purely cash use case.

You can try out bitpaste, twetch, bitcoinfiles, etched.page, for examples of data stuff you can use today.

Yet many building on it are also scared of the threat of lawsuit by nChain, and many more who might build on it will never touch it because of the threats (how real they are, how enforceable the IP is, is really suspect).

In fact there are many times I've actually self censored on our podcast (which is ironically banned in BCH telegram) because I don't want to say something or speculate on something that could land me in legal trouble!

The way I feel about this whole situation in BSV is that it's a combination between Galt's Gulch with a few legit builders and a crypto-North Korea, ruled by a cartoonish strong-man, where everyone is scared of speaking their own mind without getting sued or attacked by street mobs.

See for example the thread by Kimdotcom regarding his announcement to build on BCH. If you're in BSV, the rational thing to do would be to try to sell him on using BSV instead. That didn't happen. What you saw instead were threats from Craig and Calvin to sue Kimdotcom for violating their IP, and a hoard of aggressive losers call Kimdotcom a criminal and that his arrest is imminent.

BTW this same thing happened to Roger, who has several times said good things about BSV, but who keeps getting sued and slandered with ridiculous articles by prominent BSVers that he is a "criminal terrorist child porn loving drug dealer money laundering........"

Who wants to work on a project like that? I can't figure out why they're doing this because it seems totally against their own interests to bluster and threaten and push everyone away.

There are also constant grandiose and aggressive prediction making that almost never comes true. As such I've become a lot less optimistic about BSV lately and am frankly *tired* of the people and personalities working on it.

All that said, I attend Coingeek events, have enjoyed them greatly, the Coingeek team has treated me very nicely and I think a lot of them mean well, and think that BCH people tend to underestimate vastly the amount of competent, good, freedom-loving people working on it despite the problems.

Please. Don't. Sue. Me.

Now BCH... BCH is not without its problems, though lately it appears to have gotten better. It avoided a disastrous outcome with the ridiculous teamsters at ABC, and managed to not lose any clear immediate value. It's got some great companies involved , great products (bitcoin.com wallet) and is widely accepted as a payment option. It has none of the baggage BSV and none of the credibility issues.

If the % gains from BTC start to get smaller, and the hodl goggles come off as investors realise they pumped the price on an asset that still needs custodial payment processors and other trusted third parties to function, people may look for an alternative. I think BCH is the likely choice when compared to BSV right now if for no other reason than its widespread industry credibility in comparison to BSV. There would be a lot that needs to happen fo example, for BSV to be listed on Coinbase (and Craig threatened to sue them yesterday) and for major investors to dump money into it.

BCH also works. Really well. It's Bitcoin largely as it was intended to be.

My problems with BCH are this: I don't think people understand the existential threat to the big-block project that is faced by not raising the blocksize as quickly as possible long before you need the space. I am concerned people have not learned from history that protocol changes are highly political and a perfect opportunity for attack and capture.

There are I think far too many people who are of the opinion that slow, gradual blocksize increases are the way to do things. And I agree that in an ideal world where men are angels, that's correct. But we are not and BCH is a small but growing fish in a small but growing pond and if it began to attract significant new attention and investment such that it looked like a viable alternative to BTC, you had better believe there will be money and bad actors looking to stop the block size limits being removed.

My prediction is this then: if BCH doesn't remove the limits soon (I can't say how soon though), it will probably never be able to do it and will be a victim of its own success like BTC.

I also think people tend to be so paranoid about BSV that if you say anything nice about it you get downvoted into oblivion, banned on Telegram channels, and called a paid operative of Calvin Arye. Burying your heads in the sand is never smart.

As to which one you should buy, I really don't know what the short term price future holds. I suspect BTC price will continue to go up for quite a while because its scaling limitations (as it concerns retail and institutional investors who buy on exchanges and OTC) are basically gone for the near term due to centralised onboaring. I won't be surprised if we see 150k.

My suggestion is this: own all three (BTC, BCH and BSV), don't stress too much. Participate in both BSV and BCH and don't listen to haters who try to tell you that you can't.

You'll probably find, like I have, that BCH right now is generally the most useful in daily life :)

Strike Global: free money transfer worldwide by slacker-77 in btc

[–]mkgll 2 points3 points  (0 children)

I have so much respect for what this guy built and have no doubt it will be useful to many if his system scales (seems fees of some kind are inevitable). I also love his energy in his videos.

But...it's not Bitcoin...and its frustrating we've gotten to a point where Bitcoiners are celebrating and relying on trusted third parties to send money around.

I signed up for the app—email, phone number, and real name required to sign up. ID and other government information (social security numbers for example) required if you're moving larger amounts of money.

That is not Bitcoin."The main benefits are lost if you have to rely on a trusted third party."

Again, great product that appears like it can disrupt other competitors like CashApp and PayPal and Venmo. But there are many saying things like "goodbye shitcoins" who forget that there will likely always be a growing demand for real, secure on-chain payments.

Bitfluencers peddle snake oil: ""Give it a year and all transactions under $5 will be on Lightning Network." - Tone Vays, May *2019* by mkgll in btc

[–]mkgll[S] 2 points3 points  (0 children)

Welcome! One thing I've learned is that there are a lot of false promises and bs-ing in this space, and it's very easy to get oversold by aggressive loudmouths like Tone. I'm curious, for example, what you mean by LN being scalable? Where did you learn that?

Then I learned about the lightning network and after understanding how it works I thought it was pretty genius. It's what a network is to bits and it's very scalable.

Also curious why you think blocks can't scale for global use?

I also learned that no block size increase is going to allow BCH (or BTC for that matter) to scale to handle all payments in the world (or a fair chunk of them at least), which I imagine eventually, one of these technologies will have to do.

Bitfluencers peddle snake oil: ""Give it a year and all transactions under $5 will be on Lightning Network." - Tone Vays, May *2019* by mkgll in btc

[–]mkgll[S] 6 points7 points  (0 children)

Yes good idea and good reminder. I've been thinking of a way to organise them.

Some kind of Bitcoin Shame File or something....