I didn't make the mistake you are pointing out.

So we understand that pegging to bitcoin is an elastic duty.

But wouldn't pegging to bitcoin cause the production rate of blocks to spike like as if we pegged to gold and the production of gold mining ramped up?

This scenario, using bitcoin as the asset. I want to suggest is what Nash describes as Ideal in his proposal.

I don't think John Nash liked Bitcoin.

https://www.youtube.com/watch?v=NUyC...el=OxfordUnion

can we get jbouton containment thread?

I'm unsure what to do, but agree something needs to change. Will probably make it so he can only post in the "Is BTC a scam" thread.

don't take away his node thread!

Currency... BY NATURE... must be allowed to breath (elastic, using your own words) and fulfill the ever changing liquidity requirements of a Developed Economy. That is it's critical ability and usefulness... that is WHY we have Currency as opposed to having everyone walk around with Sea Shells in their wallet.


No... of course it would not, it could not. As I thought we were all aware, the Block production is carefully regulated by the Difficulty Algorithm which keeps the Block time Approximately at around 10 minutes each. This controls the inflation rate of Bitcoin and keeps it VERY predictable. This is one other feature of Bitcoins nature that makes it so appealing as it CAN NOT be manipulated or controlled by centralization.

Gold, IS NOT rare... at best I would consider it 'MARGINALLY' rare and our belief in it resembles belief in the value of sea shells. Of course, gold has other usefulness, such as electronics and the vanity of self adornments, jewelry.

The price of gold goes up, production goes up-the price goes down, then production goes down. It is the very definition of a exploitable and controlled commodity that citizens are at the mercy of, and given the issuance of 'Paper Gold' makes the asset 'fractional' by nature... like Fractional reserve banking.

for decades, we've been on the 'Oil Standard', and that era is going to come to an end at some point... probably within our young folks lifetime.

Let's be perfectly clear, I am NOT suggesting that the World go on a 'Bitcoin Standard'. However, I do suggest that Private Citizens go on the Bitcoin standard... As should Small sovereign nations that find themselves under the control of The International Monetary Fund... where Countries are offered the enslavement of free flowing liquidity in exchange for allegiance and obedience.

A Bitcoin backed Currency/standard is not advantageous for the apex economies that are used to controlling and economically enslaving others different than themselves... it's a REAL threat to those in control.

what is the reason you continue to quote Nash?

It doesn't make one smart to quote smart people, and it's not really germane to the conversation.

Amen. I heard someone the other day clarify that developing countries are actually undeveloping countries due to this mafia extortion by the IMF and others in power.

hear hear!

A currency backed by bitcoin would be even worst then gold .
It’s human nature at one point countries indebted themselves too much ….
Having debt tied to the value of bitcoin going eternally higher would be disastrous.

You can blame imf and others all u want but it’s the countries by themselves that fack it up in the first place and coming to beg the imf to « help » them afterwards ….

Bitcoin can’t by itself prevent human nature for doing stupid stuff .
They always do eventually.

I agree, but the problem they have is that there is absolutely no way they can stop it and any attempt to do so is just a waste of time and money. The competent ones realise this already.

As all the 5/6/7/8 figure longs in this thread realise the early adopters (which do appear to be developing nations in Africa or South America) will gain ground on the major economies by doing so and those nations will eventually have to join or be left behind.

The paragraph I quoted is relevant to me personally as it's completely true but although in 2011 I realised this, I also struggled to understand there is absolutely no way the BTC network can be shut down or killed by those used to controlling/enslaving others and it took me many years to get my head around it.

Moved some posts to the Is BTC a scam thread. I'll probably rename that to something else and make it a catch all for discussions about how BTC works, is supposed to work, and things dealing with that.

This thread is more about current news and topics.

Please report posts you think should be moved.

Interesting. When did this happen?

Bitboy is on it.

rofl

every reply is about him doing coke. it’s hilarious.

stay humble, stack sats

I sent ~$200 BTC from my blockchain wallet to my coinbase account. For some reason, it's 13 hours and still unconfirmed (0/2). Additionally, it broke my send up into what looks like two payments (+1?). Roughly, $150 and $50. However, when I look into my Coinbase account, it shows that it received the one payment for ~$200 but has 0/2 confirmations.

Am I ok here if it's showing up as pending in my coinbase account? Is it just a matter of time before this is confirmed?

Thank you!

edit: I looked through my entire send/receive history. I can't find another instance of a send being broken up into what looks like 2 separate payments in the same transaction before so I'm concerned. I've also never had to wait this long to have a transaction confirmed. Yet, again - it is showing up as received but pending in my coinbase account so I'm hoping I'm ok here.

Here is the transaction: https://www.blockchain.com/explorer/...9b71e2e546f823

You paid a small fee.
33 sat/vb

If you look at https://mempool.space/ average right now is ~75 sat/vb

So your transaction hasn't confirmed on chain so coinbase isn't giving you credit for it until it does. If you wallet allows you to boost your fee, try that.

I can't boost it at this point (or it doesn't seem possible after looking quite a bit). Main thing here is that it's going to show up as confirmed *eventually*. Since it's showing up in my coinbase as pending, the money's not lost, correct?

Yes you're good. You'll just need to wait, and depending how chain activity is, might be a few days or longer. Check that mempool site and if it's around 35 you should expect it to confirm soon.

Thank you for getting back to me so quickly and quelling my fears. As said - I've never had this happen before. It's pending over 14 hours now but I understand that this isn't unheard of in general.

Oh, and: Why did it split the payments up into what looks like two? Is that anything for me to be concerned about as long as the received total in my coinbase is accurate?

You just dont understand how bitcoin works....
Here thats how bitcoin works.

No...not really. I just know I've always selected regular priority and never ran into a wait time like this before. Not in years. And I definitely don't recall seeing the send represented as what looks like two payments before, either.