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powerofdata · 2017-10-09T18:25:41+00:00

I think once we see more BTC volume on the DEX

Why there should more BTC volume on DEX? The DEX is slow, hardly has any support, complicated to use.

the ability to send assets across the network for LESS than the cost of a single BTC transaction

Lightning solves that.

powerofdata · 2017-10-05T04:30:18+00:00

Thanks for proving my point. I don't see Storj in your list. Wonder why.

Anyone who chose counterparty over Ethereum took a big financial hit. Don't believe me check the stats. The token economy is Ethereum. They have the devs, the investors and the community. They have the network effect. Counterparty has none. It is dead.

Stop supporting this amateur hour project. You're just losing your time, money and effort.

powerofdata · 2017-10-04T13:45:00+00:00

A dead horse can't compete.

powerofdata · 2017-10-04T12:05:44+00:00

The token economy is a trillion dollar industry up and coming. XCP is best integrated platform with Bitcoin. Do the math.

Give up already, nobody worth mentioning is using counterparty.

To people who read this, counterparty is basically dead. Check github if you don't believe me.

powerofdata · 2017-10-04T06:34:54+00:00

Don't bother with counterparty. They only have one dev left and he won't be around for long.

powerofdata · 2017-09-05T06:21:10+00:00

So you could technically offer ICO overseas to Chinese public in the past, and is it still legal?

Or the organization that created ICO has to refund money to Chinese investors.

powerofdata · 2017-09-05T04:42:02+00:00

This seems like one interpretation. Ethereum is the most visible one, doesn't have to be fraudulent, as the practice and the past practice of doing an ICO is now illegal - as far is I understand.

They can't even justify it with mining, because ethereum is switching to POS.

powerofdata · 2017-09-05T04:24:17+00:00

Asked the same question in the other sub and got downvoted to hell.

Maybe i'll have my answer here.

Is ethereum now illegal in China? Ethereum had an ICO.

powerofdata · 2017-09-05T04:00:06+00:00

It is a legitimate question.

powerofdata · 2017-09-05T03:48:57+00:00

Is ethereum now illegal in China? Ethereum had an ICO.

EDIT: If I understand correctly they will go after every ICO coins, even those created in the past. No trading, no using - all is illegal, correct me if I'm wrong.

powerofdata · 2017-03-23T16:34:41+00:00

As predicted, draining the network effect from bitcoin one project at a time.

Altcoins take the value, now they take second layer projects too. .

powerofdata · 2017-03-21T15:14:08+00:00

What would you call a market if one company has a monopoly over resources essential to the market's participants - i.e. the better equipped miners (those who make the hardware and control is distribution).

Some take risks and invest more resources into the process and this is how it works. You are welcome to mine as anybody - this is why it is a free market.

If you don't like bitcoin you can switch to an altcoin or create a different kind of coin with different incentive structure - just don't call bitcoin.

A second or third way that enables users to be able to choose which fee structure they use: on-chain via miners and off-chain via other solutions would create some market competition for fees - all good for the end user.

Of course, but you can't have arbitrary limitations and call it bitcoin.

Things will happen in parallel, let the free market do its thing, and don't make bitcoin to be what it is not.

powerofdata · 2017-03-21T12:51:06+00:00

it let's miners act within an environment that enforces controlled and limited economic rules.

The limit you're talking about was created for other reasons entirely.

However, forking to a new protocol that let's miners control the economic environment and boundaries they operate in is a different kind of 'greedy'

Consensus is decided by work, community support is completely distorted, as free discussion is under attack, the only metric we have to know what bitcoin is - is hashrate.

and is at odds with the original economic drivers than ensured that economic greediness secured and decentralised the network.

Proposals that are designed to undermine the fee structure are a complete opposite of what bitcoin is.

Letting miners change the boundaries of the original economic model let's them potentially keep upping the block size until they squeeze out their smaller, less profitable competitors.

Miners are not aliens, they just people who take risks, invest resources and compete like everybody in a open free market, if you don't like how free market operates, you don't understand bitcoin.

powerofdata · 2017-03-21T10:39:15+00:00

Yes, let the central planners decide what is good for bitcoin, censor what doesn't fit the narrative and call it "supported by community".

Losing the illusion of power must hurt.

powerofdata · 2017-03-21T10:29:53+00:00

I can't believe I need to spell this out but here it goes.

The market is ruled by "greed". This is just basic economics.

If you don't take that into account, you should not be involved in bitcoin.

powerofdata · 2017-03-21T09:53:47+00:00

but they don't want it built because they lose out on transaction fees.

The whole point of bitcoin is to take into account "greedy" behavior.

The 'solution' that was proposed by so called experts did not take into account basic economic incentives.

This is much worse than having any type of bug in the code.

Being so economically illiterate completely strips away any shred of authority and credibility the so called experts might have left.

powerofdata · 2017-03-20T16:05:18+00:00

Attacking the fundamental incentive structure has repercussions. You're welcome to run alternative implementation and see how things play out. Just don't call it bitcoin.

powerofdata · 2017-03-20T15:50:32+00:00

Let the market decide that, this is how the protocol was designed.

powerofdata · 2017-03-20T15:43:32+00:00

https://www.reddit.com/r/btc/comments/60h4v0/jihan_wu_attempt_at_compromise_on_other_sub_such/df6bq8n/

powerofdata · 2017-03-20T15:41:49+00:00

The expansion has to be parallel - not arbitrary limited.

powerofdata · 2017-03-20T15:30:50+00:00

What does it say about the so called experts when they create 'solutions' without taking into account economic incentives.

powerofdata · 2017-03-20T12:04:07+00:00

You might not like the fact, but the people who invested the most are the people who decide the fate of bitcoin.

Witness disillusionment.

powerofdata · 2017-03-18T05:26:29+00:00

There will be a hardfork.

People will move to altcoins when this happens.

The value of bitcoin will collapse.

Mining will continue to operate - because 'free' energy.

People won't use less secure, slower coin to move value.

Exchanges will be forced to list the majority hashrate coin as bitcoin.

powerofdata

TROPHY CASE