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What Goldman Is Telling Big Money Clients About Bitcoin

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Re: What Goldman Is Telling Big Money Clients About Bitcoin

#61

Post by RandVal30142 »

keymone wrote: post #59
RandVal30142 wrote: post #14

Earlier quoted context omitted.

>Roger and his cronies were spamming the network for months For fucks sake. Show the "spam," track it to an individual. The blockchain is transparent yet no one has done this. This is what my other comment was about. Named users in the community have been made into horrific caricatures who are the basis for conspiracies no one is able to prove despite the transparency of Bitcoin itself.

https://jochen-hoenicke.de/queue/#all May was the peak of controversy, arguments and discussions about future of scaling bitcoin. core vs unlimited node count, miner support, vendor/merchant support - nobody knew how would things turn out. throughout that time one of main arguments was that blocks were full and mempool (unconfirmed transactions) was gigantic. the moment camps settled on agreeing to disagree - mempool…

No seriously, show the transactions you consider to be spam. Classify them in some tangible way, then identify the users behind them.

The specific claim was that it was from "Roger Ver and his cronies," not that a mempool backlog exists.

Show the transactions you claim to be "spam," and identify the persons behind them. Go do it.

Re: What Goldman Is Telling Big Money Clients About Bitcoin

#62

Post by [deleted] »

HNNoLikey wrote: post #44
nartz wrote: post #5

Why do people say it 'Cant be tracked'? Its a fully public ledger. I would think that it could be tracked much easier than dollars that remain liquid or laundered.

I've heard that bitcoin mixers can take care of completely/somewhat obfuscating coin ownership. > According to Wikipedia: User can send his bitcoins on this service, pay small commission, and then receive the same sum of utterly different bitcoins. If they're paid out to one address it still wouldn't provide the desired level of anonymity, if however they are paid out to multiple addresses belonging to the same user,…

[deleted]

Re: What Goldman Is Telling Big Money Clients About Bitcoin

#63

Post by lagadu »

nartz wrote: post #5

Why do people say it 'Cant be tracked'? Its a fully public ledger. I would think that it could be tracked much easier than dollars that remain liquid or laundered.

The problem is the difficulty of tying an arbitrary amount of addresses to a person.

Anyone can generate any amount of addresses instantly out of nowhere and be paid to them. Lets say you have x btc that you received as payment from some illegal activity. You can make any number of payments to any number of addresses of your choice, some of which are yours (new addresses, so they're not associated with you yet), some of which are not. You still have control over all your btc but nobody knows what is "you" and what is someone else. While it's everything there in the blockchain for anyone to explore, if properly managed the address system does provide a high level of anonymity by current standards.

edit: a btc address is effectively just calculating a hash, behind it you have good old public key cryptography so it's very easy to generate and can even be done offline.

Re: What Goldman Is Telling Big Money Clients About Bitcoin

#64

Post by keymone »

RandVal30142 wrote: post #61
keymone wrote: post #59

Earlier quoted context omitted.

https://jochen-hoenicke.de/queue/#all May was the peak of controversy, arguments and discussions about future of scaling bitcoin. core vs unlimited node count, miner support, vendor/merchant support - nobody knew how would things turn out. throughout that time one of main arguments was that blocks were full and mempool (unconfirmed transactions) was gigantic. the moment camps settled on agreeing to disagree - mempool…

No seriously, show the transactions you consider to be spam. Classify them in some tangible way, then identify the users behind them. The specific claim was that it was from "Roger Ver and his cronies," not that a mempool backlog exists. Show the transactions you claim to be "spam," and identify the persons behind them. Go do it.

a simple glance on that graph with knowledge of notable events in bitcoin timeline screams that the "omg blocks full mempool gigantic" argument is fishy. i don't really care that i can't convince you without spending hours and hours satisfying your standard of evidence, i have better things to do.

Re: What Goldman Is Telling Big Money Clients About Bitcoin

#65

Post by lagadu »

fullshark wrote: post #18
justinzollars wrote: post #17

It seems Ethereum, Bitcoin and Litecoin are correlated but how will they do with a stock market downturn?

My guess is they will tank since their value is driven by speculation right now.

Hard to say, more and more BTC in particular is being used as a shelter from the woes of fiat currencies. It's not the first time that a downturn in a fiat market leads to btc price increases as some players exchange their assets for btc.

Re: What Goldman Is Telling Big Money Clients About Bitcoin

#66

Post by runeks »

soVeryTired wrote: post #51
runeks wrote: post #43

I like that he calls Bitcoin an “anti-currency” since, all too often, it seems people view Bitcoin as just-another-currency, when it’s fundamentally different from the national currencies we’re used to using every day. National currencies are backed by government bonds, while Bitcoin is commodity-like, in that it’s not backed by anything — it’s a monetary unit in its own right. This avoids the recursive relationship…

Currencies aren't backed by bonds.

Bonds comprise the vast majority of assets on the balance sheet of the central bank, so why not?

When gold was the primary asset on the balance sheet of central banks, we said that their currency was backed by gold. So why isn’t it backed by bonds now, when they have replaced gold in this regard?

Re: What Goldman Is Telling Big Money Clients About Bitcoin

#68

Post by roel_v »

_fizz_buzz_ wrote: post #52
jomkr wrote: post #48

Earlier quoted context omitted.

It was fairly big news in the UK when somebody announced he had thrown away a hard-drive containing 10,000 coins. He considered searching through the dump but didn't bother in the end.

That's about $40,000,000.- I would do more repulsive things than diving into a dumpster for that kind of money.

It wasn't just a trash can, it was an actual garbage dump site he'd have to search through. Chances of finding something there are slim I'd say. IIRC there was a photo with the article of the guy standing at a dump site - not sure if he didn't actually go look for it a bit and gave up when the reality of the situation hit him.

Re: What Goldman Is Telling Big Money Clients About Bitcoin

#69

Post by statoshi »

aiyodev wrote: post #8

As a long term owner of Bitcoin, I can say this is the absolute worst time to start investing in it. It's development has been taken over by a group of mentally unstable developers with weird personal agendas and beliefs. The official Bitcoin website and subreddit are heavily censored and are no longer a reliable source of information. It's widely reported elsewhere that their moderator stole millions of dollars wort…

No one can control or take over Bitcoin development. Similarly, there is no official website or subreddit. This system has no authorities.

Re: What Goldman Is Telling Big Money Clients About Bitcoin

#70

Post by fullshark »

lagadu wrote: post #65
fullshark wrote: post #18

Earlier quoted context omitted.

My guess is they will tank since their value is driven by speculation right now.

Hard to say, more and more BTC in particular is being used as a shelter from the woes of fiat currencies. It's not the first time that a downturn in a fiat market leads to btc price increases as some players exchange their assets for btc.

I think that use case is oversold in terms of what's driving the price up this year.
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