The Bitcoin Group #103 – Ethereum Classic, Steem Ponzi, Bitcoin is not money, Bigger blocks

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Featuring

  • Tone Vays (https://twitter.com/Tone_LLT).
  • Theo Goodman (https://twitter.com/theog__).
  • Gabriel D Vine (https://twitter.com/GabrielDVine).
  • Thomas Hunt (https://twitter.com/MadBitcoins).

This Video

  • Ethereum And The ‘Old Catholics’ – http://www.forbes.com/sites/francescoppola/2016/07/26/ethereum-and-the-old-catholics/#46e761cf544a.
  • Brian Armstrong Ethereum Tweets – https://pbs.twimg.com/media/CoS4oPIWIAAwi0-.jpg.
  • On the Ethereum hard fork – https://medium.com/the-coinbase-blog/on-the-ethereum-hard-fork-780f1577e986#.cwszj88hy.
  • Barry Silbert on ETC –
    • https://twitter.com/barrysilbert/status/757628841938472961.
    • https://twitter.com/barrysilbert/status/757705666915995648.
  • Steem Ponzi Chart – https://twitter.com/thestringpuller/status/758711779614715904.
  • Steem price down 50% from $4 to $2 – https://poloniex.com/exchange#btc_steem.
  • Florida judge: Bitcoins aren’t currency, so state money laws don’t apply – http://arstechnica.com/tech-policy/2016/07/florida-judge-bitcoins-arent-currency-so-state-money-laws-dont-apply/.
  • Why Florida’s ‘Bitcoin Isn’t Money’ Ruling Could Have Limited Impact – http://www.coindesk.com/florida-bitcoin-money-legal-system/.
  • Bitcoin Sale Ends With Knifepoint Robbery in Florida – http://www.coindesk.com/florida-bitcoin-sale-knifepoint-robbery/.
  • Bitcoin experts are having a spat on whether it’s a currency or a commodity – http://www.cnbc.com/2016/07/29/bitcoin-experts-are-having-a-spat-on-whether-its-a-currency-or-a-commodity.html.
  • The Bitcoin Subreddit Censorship Debate Reignited by Roger Ver? – http://www.newsbtc.com/2016/07/29/the-bitcoin-subreddit-censorship-debate-reignited-by-roger-ver/.
  • Roger Ver Tweets – https://twitter.com/rogerkver/status/690224920941309954.
  • Roger Ver: ‘Let’s Raise the Block Size Limit’ – https://cointelegraph.com/news/roger-ver-lets-raise-the-block-size-limit.
  • Bigger Blocks Mean More Decentralization for Bitcoin – https://news.bitcoin.com/bigger-blocks-means-decentralization-bitcoin/.
  • Time to End the Block-Size Blockade – https://fee.org/articles/time-to-end-the-block-size-blockade/.
  • Bitcoin ‘Whales’ Vote in Favor of Larger Tx Blocks – https://news.bitcoin.com/bitcoin-whales-vote-larger-tx-blocks/.

and Predictions!

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  1. I just re-watched this and I want to apologize for some of the inaccurate facts I've said about Steem. (like them crating it at a 104x multiple and earning more the earlier you like a post). However the reality is much worse. Steem Power is in fact created at a rate of N^2 x 9.5 which is a formula that overtakes N x 104 fairly quickly. Also we all agreed there is some mining component but as it turns out that mining component is only responsible for creating 0.55% of steem on a daily/annual basis.

    So TLDR: sorry for factual mistakes, it is so much worse than i though it was at the time

  2. WARNING!!!!…PLEASE READ THE SMALL WRITING BY BRITCOIN AS FOLLOWS:
    Warning! – Bitcoin value is extremely volatile. Bitcoin / USD as in BTC-e.com virtual currency. BTC-e
    Bitcoin is a scam, very rare to make money as Bitcoin don't allow you to be flexible in the market like normal companies WARNING Bitcoin seminars are all bullshit to con Y'all!!!..
    Where is the PROOF?????? Fucking total wast of time. Bitcoin SUCKS!!!!
    Regards Pro Broker…..

  3. Wow everything you guys say about steem is plain old wrong. How can you do a show without knowing what you are talking about!

  4. Hey, if anyone wants to learn how to turn a one time investment of $18 into complete financial freedom. I have something great to show you. Just text "18" to 442 235 2072

  5. hi so guys in the video toue perspective who has the bigest community devs extras etc or eth and whitch onew you think has demand

  6. Too bad for Roger Ver that the independent miners, those who would utilize his mining-pool, have negligible power compared to the organized cartel of mega-miners. His attempt to create a mining pool to steer consensus to favor the adoption of bigger blocks won't work. I don't know how you didn't pick up on this motivation, Tone.

  7. Hey guys, love the show. In this video, it seems like Thomas is starting to see the value of Steemit, but Tone is understandably still skeptical.

    Here is an article I wrote about the value proposition of Steem and Steemit, and why it might have a chance of being a long-term success. I'm not saying the system is perfect, but it definitely goes beyond just paying out old investors with new money. There is a value proposition, there is value, and people are starting to recognise that value. People enjoy posting on a site where good content is rewarded, and where people are rewarded for finding good content.

    https:[email protected] /steemit-s-new-economic-paradigm-or-why-steemit-might-just-work

  8. Completely disregarding the opinions of someone as insightful, dedicated, and invested as Roger Ver because he's not a developer seems to me short-sighted.

  9. Tone Vays: steem isnt about clicking it sooner chronologically. if u spend steem on something that no one else likes then u only spend your steem and make nothing. when u like stuff that gets liked after u liked, u make x% of the liked stuffs likes. solve for x is an exercise for the interested reader. the idea of steem is that quality art and truthful timely news will self perpetuate

  10. I don't mean to be insulting but to me the collective Intelligence Quotient on this show appears to be quite low. Not much understanding, lots of bleating.

  11. I am so glad Gabriel made the point on what actual censorship is. I am sick of the frivolity of throwing around the word so lightly.

  12. Hello, you would avoid using the gun unless your life is completely threatened. its not worth the lawsuit even if its 28K

  13. Tone can you link to the video where you talk about how after a fork both coins will end up with the same hash rate? Thanks.

  14. Good show as usual… in regards to Poloniex I think they totally screwed their lenders because those lending ETH didn't get the ETC and instead it went to the person who it was lent to at the time!

  15. hahaha Tone you need to wear that shirt anytime a coin comes out that smells like a ponzi. Great video guys.

  16. I don't see the problem with STEEM, just don't buy any as the price is artificially inflated . If this gets new people into crypto without personal cost to them im all for it.

  17. If you look at steemit as a black box there is a 10% redistribution of wealth to the content creators. The question is if share holders in steem can offset this loss by selling products to the visitors of the system.

  18. So much FUD. Please take the time to understand a system before you call people scammers. I disagree with you on steemit. It's going to be a serious competitor to bitcoin long range.

  19. Simple tone; someone at arm's length holding a drawn knife can do a lot of damage fast. Why risk it for a few bucks. Oh wait, Theo is totally making this point. (oh Thomas; would you really shoot a man in the back for robbing you? After they turn away maybe counter rob them, but shoot them dead?) Good show again guys, thx.

  20. Brian Armstrong Ceo of coinbase fucking baby went to Reddit offices to complain about all the true testimonials and problems of coinbase seizing customers funds for vague or silly reasons.He wanted Reddit to fire Bitcoin Reddit mods and replace with puppets he could control.Coinbase needs to be avoided at all costs there on brink of collapse as it is there profits are 20 million with expenses crossing 60 million a year.You don't have to be smart to understand there not profitable.Coinbase just went overseas to scrape up any investor cash they could since no one in Silicon Valley or wall street will touch them anymore.I wouldn't let Armstrong park cars let alone run the company.

  21. I too have suggested people only take a public key/ bitcoin address when trading bitcoin in person. Check it with your phone that's the beauty right there.

  22. Awesome shows as always. will not comment any further cuz I know someone is gonna make some stupid issue that's gonna drag on and on.
    keep up the good work

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