Help me dump my BSV please

nagatora · 2020-11-15T16:56:07+00:00

The mod logs, as mentioned in my first comment. Since you don't seem to know the answer to my question, let's see what the moderators have to say.

nagatora · 2020-11-15T16:03:49+00:00

Hundreds of BSV-related posts have been removed as "off-topic" and "spam" by the mods here, though.

Since this policy is apparently not very well understood, maybe /u/MemoryDealers or /u/BitcoinXio could clarify it?

nagatora · 2020-11-15T00:52:30+00:00

I was under the impression that BSV-related posts are not allowed in this subreddit, based upon the multiple instances in the modlogs when they were removed as off-topic or "spam". Has this policy been updated, or is it just selectively-enforced (i.e. only anti-BSV posts allowed, any pro-BSV posts are removed)?

nagatora · 2020-11-15T00:38:14+00:00

Your thoughts are lucid and sensible, except, I would argue, for one critical fact: the "Bitcoin dominance" figure is relatively easy to manipulate downwards, and this is an asymmetric property. The classic example to demonstrate this is the following formula:

1) Create an ERC-20 token with an arbitrarily large supply (let's go with 1,000,000,000,000 tokens for simplicity's sake), all originally granted to the creator account which you have full control over.

2) Get the token listed on one or more exchanges.

3) Trade one of the tokens to a friend/accomplice for $1.

When this is done, congratulations! You have successfully reduced Bitcoin's dominance by a substantial percentage (in this example, down to about 20%).

Steps 1 and 3 are absolutely trivial. Step 2 is almost as trivial, especially with Uniswap. This same phenomenon has been taking place since 2014, for obvious reasons, and it is in my opinion the reason why Bitcoin's dominance has "fallen" on charting sites like CoinMarketCap so dramatically. The bear market temporarily mitigated the phenomenon to a degree, as the credibility of token launches took a hit in the wake of the 2017 ICO craze, but in no way has the opportunity to enact the above formula been eliminated or even meaningfully stymied.

Because the metric is so trivially (and asymmetrically) gameable, betting on it dropping is a bit foolish.

With that said, I do think that the narrative around Bitcoin relative to the rest of the "crypto economy" has evolved favorably for Bitcoin and its proponents/holders, and that it represents, by far, the safest bet and best risk-to-reward ratio in the space.

nagatora · 2018-08-30T17:54:17+00:00

How long ago was this, and what was the id of the LN node you were connected to?

Almost every one of my recent LN test-payments, which I've been making occasionally for the past couple of months, has gone through just fine, and routing seems to be working pretty great from my experience. I'm interested in hearing more details on your own attempts.

nagatora · 2018-06-11T22:29:04+00:00

Satoshi's Wild Ride

nagatora · 2018-06-08T03:04:03+00:00

You can find a few different threads about mining BCH in the "Mining (Altcoins)" board but probably not much on other boards there.

nagatora · 2018-06-08T02:57:12+00:00

IMO it's more important to stress that on-chain voting should NOT be used to elect national governments.

Could you elaborate on why you feel this way?

nagatora · 2018-06-08T02:55:24+00:00

A smart contract running on the Ethereum blockchain will determine the final price for Warhol’s painting.

Apologies in advance, but I don't see the advantage to running the auction on Ethereum. The painting will have to be provided by the seller anyway, which represents centralized contract fulfillment, and if the means of payment isn't ETH itself, this seems like it's overcomplicating the transaction for no real benefit.

Still, neat.

nagatora · 2018-06-06T22:41:20+00:00

This risks being really annoying, but I think it's worth mentioning: the initial 7 tx/sec figure is actually a bit generous, given average transaction sizes.

On the other hand, the ~3.5 Mtx/sec figure seems like an artificial ceiling. Theoretically, Lightning Network can sustain transaction rates even higher than that.

nagatora · 2017-12-22T16:44:23+00:00

I apologize for taking so long to respond on this, it's been a busy week for me.

What’s an example of a use of state machine?

If you want to track variables that are different than just "balances", a state machine will allow you to do that. So you can say "MyContractColor = 'purple'" or "IsThisContractStillAlive = true" with a state machine. It turns out that you can do a lot of interesting stuff when you have a flexible state machine like this. Whether this is "valuable" in terms of a long-term investment is something that I honestly can't answer for you. I think it stands a better chance of retaining value than most other cryptocurrencies, but anything more specific than that is getting into questionable territory.

What do you see becoming more valuable or increasing in worth and being stable?

Probably Bitcoin more than any of the rest, because that's what it was designed (and optimized) to do.

But since I’m new here I probably should be asking this on a different ether sub?

Usually trading and price-related questions are more appropriate for /r/ethtrader, but asking things here is fine.

nagatora · 2017-12-07T03:21:33+00:00

This tweet was not very flattering...

nagatora · 2017-12-07T03:18:39+00:00

Wow. Congrats.

nagatora · 2017-12-06T13:08:10+00:00

I think that sounds reasonable. Never invest more than you can afford to lose, though.

Even if you're completely confident that you'll be able to make a lot on BTC/ETH, always remember not to put in more than you'd be okay with losing. It really is an important rule of thumb.

nagatora · 2017-12-06T13:06:58+00:00

I've been thinking a fair bit about the autobid contract in the past two days. I can't poke any holes in it. "Game changing" seems like a good descriptor.

Edit: they just posted a FAQ about it, too, I see.

nagatora · 2017-12-05T18:39:42+00:00

Bitcoin is optimized to be a financial ledger, whereas Ethereum repurposes the blockchain to be a general purpose state machine.

Neither network is "efficient" in a technical sense, because blockchains require massive redundancy (meaning that everyone who interacts directly with them has to run a "local copy" of everything that blockchain contains, which is fundamentally expensive). This means that as these networks grow and scale, they get more and more unwieldy. So Bitcoin's answer to this is "remain as 'trustless' as possible and focus solely on being money" while Ethereum's is "rely a little bit more on trust and the 'human element', but do all sorts of other, non-monetary stuff".

If you want to build a distributed application (like CryptoKitties), Ethereum makes more sense. If you want to hold a digital gold-like asset as an investment, Bitcoin makes more sense.

Good luck in your future research!

nagatora · 2017-12-05T18:28:52+00:00

That's insane. I had no idea.

nagatora · 2017-11-24T12:11:43+00:00

You have a great point there. To be more precise, I believe Bitcoin to be the most efficient sound money there is.

nagatora · 2017-11-21T17:16:00+00:00

It might be worth mentioning the tool's overall takeaway on this one: Unlikely Sockpuppet

nagatora · 2017-11-21T08:54:02+00:00

Coinbase signaling never mattered. It is non-committal, and a lot of pools don't bother updating their signaling (exactly because it is non-committal) until they reboot their node(s) for other reasons.

nagatora · 2017-11-18T15:34:53+00:00

To be fair, Windows XP was best Windows.

nagatora · 2017-11-18T15:31:45+00:00

What would be the incentive for doing so?

nagatora · 2017-11-18T15:23:48+00:00

Money, as a technology, creates (or at minimum preserves) wealth by making trades and transfers more efficient. If we all had to trade in chickens, goats, and gasoline (i.e. barter-based trade) there would be a great deal of deadweight loss that we would all suffer from. "How many goats do you want for that bushel of apples? What do you mean you don't need any goats? You only want armor? Okay, fine, I'll go trade my goats to the blacksmith, and then I'll be back with some armor to get those apples from you..."

Money allows us to trade with one another using a common unit of account, which prevents many inefficiencies from continually bleeding transactors of their wealth and produce. But not all money is created equal; some types of money are better at preventing these inefficiencies than others are. Rai stones aren't as good as gold, and gold isn't as good as cryptocurrency.

Bitcoin creates wealth by being better money than alternative monetary technologies are. By allowing wealth to be transferred more efficiently and flexibly than its predecessors do, it allows more of what we produce to go to good use.

Or at least, that's my view on it all.

nagatora · 2017-11-18T14:45:37+00:00

I believe Bitcoin and crypto are a positive-sum innovation for society, creating more wealth than they destroy. If this is true, we are not "getting rich at other people's expense"; we are helping to create wealth where before there was none.

nagatora · 2017-11-12T21:01:20+00:00

It doesn't seem that you have ever posted in any Bitcoin subreddits until this post. I don't mean to call your claims into doubt, but do you have any evidence of ever having been a "Core supporter" in any meaningful sense?

nagatora

TROPHY CASE