If crypto isn't in a bubble that means what we're experiencing is capital flight right? (Ref Rome, British Empire etc)

Veeky Forums will be famous for /b/ 2000s trolling, /pol/ memeing Trump into the White House, and Veeky Forums generating tens of thousands of neet crypto millionaires

This is something that I really shouldn't be talking about. Have a nice day.

Oh, but ok. So, prior to BIP66 being implemented, it was discovered that OpenSSL created a bunch of Bitcoin forks, hard forks, that led to various Bitcoin blockchains being created. These blockchains have accounts associated with them that have not been closed. As such, these blockchains are still worth money. However, these blockchains got their value from people inflating the price of computers that mine for Bitcoin. (this is the shit I got banned from bitcointalk.org about).

All these chains prior to july 5th, 2015 are basically debt that needs to be paid off by the bitcoin system in order for the debt to be paid off. Actually, the whole bitcoin system is fucked. Evilcoin actually appears to be the only thing post-jul5/2015 that might have a clean ledger that started with libsecp256k1.

>tfw Veeky Forums literally rules the world in 20 years

Unfucking believable lel

I really don't understand what "OpenSLL created a bunch of forks" means

Doesn't make sense to me

Once the debt is paid off, hopefully a clean ledger is started with libsecp256k1 and we can have world peace. That price per bitcoin is an absolute value of debt pre-libsecp25k1 Bitcoin generated (those that got into the chain that BIP66 was enforced upon).

THE MORE YOU KNOW!!!

OpenSSL has some encoding issues. It created forks. lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-July/009697.html

Those forks may or may not exist. If they exist, they have associated Bitcoin accounts (wallets) worth money still. That's the potential for double-spending. And that is "debt." And that's debt that has not been paid off. Know how I know? Because the libsecp256k1 chain has yet to have a zero balance. The balance of debt was about 3.8Billion for the libsecp256k1 chain on July 5th, 2015 (blockchain.info). And the debt increased (think that's market cap you're breathing? It's debt post-july5/2015).

Its a transport mechanism to move money across borders.

Holy shit, so the July 2015 chain forks were never "fixed," not even close?

From my accounting and math interpretation, no. And it's because I discovered this and tried to bring it up to P2Pool, I was banned on bitcointalk.org and told to "hush."

Not only july 5th forks, but there were forks even before July 5th, 2015 that are barely mentioned expect in that dev mail list. The discussion is quite scarce. I analyzed all this stuff because I thought about investing 10k USD into the system.

I rather just invest 10k into Evilcoin, assuming it was developed post-july5th2015 with libsecp256k1 used and a clean ledger (blockchain).

Do you have a way of displaying or verifying that double spending has occurred, this sounds pretty scandalous user

Please explain in simple terms

>>However, these blockchains got their value from people inflating the price of computers that mine for Bitcoin

What does that mean?

wth does evilcoin have to do with this? now I just think you're fudding

CHINA

Thanks. Interesting read, however I'm still not convinced that there is no problem with forks. This did indeed create the possibility for forks at the time of the soft-fork to bip66 but those quickly died

bitcointalk.org/index.php?topic=1922460.0

However im also not sure that the sources that say this are really reliable...

>mfw this is just an unbelivably meta evilcoin shill

As suggested in that bitcointalk post, if you can verify the whole blockchain with the two methodologies with the same results, where are the problems?

well just in case it worked, cheap anyway :P

>by my retard ass-pulls, no
the forks are dead, there is no double-spending risk because they are fucking dead

This sounds like a fanciful tale of someone trying to impose a "things should have worked this way" on to reality. So a bunch of hard forks happened because of technological short falls? What matters is the blockchain everyone agrees to. The value in any of those forked chains practically 0, so there is no "debt" aside from participants having to seek an extra-blockchain remedy to getting stiffed if they were on the wrong side of the fork.

Forks are one thing that has always made me nervous about crypto, the idea you can lose your money just because you haven't paid attention to an asset in over a year. Have seen this happen with a few alts.

Seems like a niche in the market that needs to be filled. Instead of fearing it you should fix it and profit handsomely.

>thousands of neet crypto millionaires
I can't help but wonder that there's only a few hundreds here though, they just keep reposting. is that a strange assumption?

That's the one issue with Bitcoin: There might be forks still out there, ledgers with accounts that are worth money. Because of that, I cannot accurately ascertain enough information from the Bitcoin market cap.. I assume that if Bitcoin forks are still out there, then essentially libsecp256k1 was but a stop-loss on all chains. However, a new starting ledger, starting new accounts, would be able to say whether or not Bitcoin forks are out there (because if Bitcoin zero's out, then the forks were out there--the new altcoin would act as a control).

The only evidence I have in relation to Bitcoin forks is an examination of USDT as a scientific control against inflation. Bitcoin shows a linear value growth rather than exponential in relation to USDT, thus causing me to think Bitcoin forks are out there: I would think Bitcoin value increases would be exponential because of the logarithmic difficulty in relation to nonces/hases (been a while since I read the white paper).

Evilcoin (despite the name) appears to have been created after BIP66 was enforced. A lot of other altcoins were created before BIP66 was enforced. As such, I assume other altcoins also have forked ledgers (thus the same debt issue). However, I took a look at Evilcoin code and saw a 2014 copyright note in part of the code in relation to some aspect of its programming. So, I'm not too sure about the validity of Evilcoin either (I would need to talk to the programmer).

Thus, bringing me back to this:
Yeah, there is definitely a niche market for someone advertising a coin with a new ledger specifically modeled around libsecp256k1. I would invest in it. I'm thinking Evilcoin is that coin, but I'm not sure.

ding ding ding, he's probably getting a bounty for this shit

nah when the begging threads get going they typically get 200+ unique wallets

given not many people post on those threads there's at least thousands of users

/r/iamverysmart/ content right here boys.

Your reading comprehension should get a bounty. I was referring to Evilcoin being the only coin I know of that MIGHT have a clean ledger that started with libsecp25k1 rather than OpenSSL like A LOT of other altcoins.

was this the case 2 years ago?
(I don't believe that people begging right now will be millionnaires, am always assuming you have to shell a couple of hundred dollars starting capital)

the forks are dead, end of story. they are valueless If someone is still somehow miraculously stuck on them, then that's too bad for them but it has jack-all to do with the current blockchain

Don't believe me? Take a look at the starting date of a lot of other coins. They started before July 5th, 2015. That means they more than likely used OpenSSL and had (may have) the same forking issue that Bitcoin had (may still have). Evilcoin, for all the dates I looked at (except something in code, even it perhaps uses OpenSSL -- something OpenSSL-related was copyright dated 2014) was created after BIP66, after libsecp256k1 was implemented in the blockchain technology.

Bullshit. You don't know that. A miner might just have a copy lying around somewhere waiting to sell it off when the time to profit is there.

Their value got derived from inflating the mining technology: Evidence exists in the discussion that forks occurred before libsecp256k1 was implemented.

what the fuck are you talking about
any coins off the main chain are no longer bitcoins

nah until some months ago this board was slow as fuck. Lots of newfags around, and it shows because most of them are completely ignorant of crypto and keep saying retarded shit (they'll learn)

All you need is an old chain worth money and a miner willing to mine it. Person A buys the old chain, makes a deal with Miner A to mine that chain, both accept the terms of putting a libsecp256k1 stop-loss on it to prevent inflation, and then it extinguishes out the accounts in it.

Are you going to deny that there is any value in old blockchains prior to libsecp256k1?

I'm arguing the value is locked into them because they didn't use libsecp256k1 in them.

how would someone buy the old chain? I'm not sure you understand how a distributed blockchain works.

that's not how blockchain works you fucking retard lmao

>All you need is an old chain worth money and a miner willing to mine it
You have been spending too much time on r/btc. Even if a miner mined it, nodes wouldn't accept it. Not only that, but for a miner to mine a coin from a chain that forked in fucking 2015, he would have to remine the whole blockchain since that date until now, and that's even economically impossible.
The more I heard retards like you complaining about "muh censorship" the more I understand that Theymos is a fucking saint and did nothing wrong

If I buy an old blockchain from a miner, say for half price, but can reap about 75% of the total value from it, I would profit. It just needs someone to mine it.

The bigger ordeal I was referring to is how the previously mentioned issue exists as "double-spending potential." And that "double-spending potential" is a form of debt. And it has not been paid off yet. Bitcoin is in debt, not profit.

I can see now why you got banned from bitcointalk

you have absolutely no idea what you are talking about

>but can reap about 75% of the total value from it

You first need to explain why a long dead blockchain has value

Lots of ad hominems. Sure they would mine it. The maximum potential value of any forks prior to July 5th, 2015 (BIP66 enforcement) would be about 3.8 Billion USD. Assuming you short all the other accounts in that old blockchain ledger and only use enough accounts for trading, you can reap a large portion of 3.8 Billion USD. Assuming I pay 50% for it, that leaves 1.9 Billion USD value. Maybe I could get away with like 2.3 Billion USD.

I already did. The Bitcoins prior to BIP66 got their value derived from inflating the price value mining equipment. That's like saying Pentium II's were increasing in price but were decreasing in relative mining capability than they were prior to Bitcoin ever starting (network resistance to mining was significantly increasing as Bitcoin progressed until libsecp256k1).

>people this retarded exist
>people that don't even understand blockchain 101
really makes me think

>Lots of ad hominems
Are you retarded? I made arguments, sorry if they show how retarded you are
>Sure they would mine it
No they wouldn't. Mining is based on doing what's economically profitable. Mining a dead fork from 2015 isn't even economically feasible, let alone profitble.
>it. The maximum potential value of any forks prior to July 5th, 2015 (BIP66 enforcement) would be about 3.8 Billion USD
you must be trolling, you can't be serious. Please enlighten us how you get to this ludicrous amount of money.
>Assuming you short all the other accounts in that old blockchain ledger and only use enough accounts for trading, you can reap a large portion of 3.8 Billion USD.
You couldn't even reap 3.8 Billion USD, I am afraid you don't even understand how mcap works
> Assuming I pay 50% for it, that leaves 1.9 Billion USD value. Maybe I could get away with like 2.3 Billion USD.
Nigger all you are doing is taking numbers out of your ass and not explaining shit.
I have already explained you that it's impossible to spend btc from dead forks. To do so a miner should mine the whole blockchain since 2015 until today, and only then, could he try to put those transactions in a block. And even in the impossible scenario that happened (good luck finding enough money) the nodes would reject that transaction.
All you are doing is fudding and spouting random numbers that have no grounds in reality. Stop doing meth user, not healthy for you

>it extinguishes out the accounts in it.
Only for the offchain. You can mine the off chain and manipulate it all you want, but its still completely separate from the main chain.

>got their value derived from inflating the price value mining equipment

You are literally just putting random words together at this point.

You clearly have no idea how blockchains work. You do realize that all of the bitcoins mined prior to bip66 are still on the blockchain today? And those bitcoins that were unfortunately mined on a dead fork are valueless?

You are spreading horseshit. Please kindly kill yourself.

Right, the forked off-chain.

I'm getting the value from memory of the ~July 5th, 2015 market cap on blockchain.info. That's about the last potential date of a possible fork prior to BIP66 enforcement, nigger.

I am worried for humanity's when people like you are actually unironically convinced of their ignorant retardness

>Right, the forked off-chain.

that no one uses

You do realize those Bitcoin mined prior to BIP66 may exist in a fork that someone has saved to a hard drive, right?

Also, if using this "off-chain," a person would just create nodes for the purpose of the off-chain. Lack of imagination, much? Duh, nodes using the BIP66 chain wouldn't process them. That's why you setup a system specifically to process the off-chain.

Anyway, I've given my opinion as to what this cryptobubble is: Off-chain forks laying around existing as a form of debt.

I had a revelation that we are like The Drummers from Diamond Age. A decentralized giant brain. They call reddit a hive mind but I think the format for Veeky Forums is much more efficient.

We need a name for our neet crypto millionaires... I propose Crypt Lords.

Or is kept around for an independent Bitcoin-like system with a libsecp256k1 implementation to mine the profits that exist in that particular off-chain....

>You do realize those Bitcoin mined prior to BIP66 may exist in a fork that someone has saved to a hard drive, right?

Yes, I follow.

>Also, if using this "off-chain," a person would just create nodes for the purpose of the off-chain. Lack of imagination, much?

For what fucking purpose? To send dead bitcoins back and forth to himself?

>Duh, nodes using the BIP66 chain wouldn't process them. That's why you setup a system specifically to process the off-chain.

So you are talking about resurrecting a dead coin from scratch. Like any one of the other 500 shitcoins that pop up daily. Except that this one is like 1/2 premined, with a 50GB blockchain, and outdated? I'm sure they'll be lining up to throw their money at you!

>Anyway, I've given my opinion as to what this cryptobubble is: Off-chain forks laying around existing as a form of debt.

>pic related

Yet no one explained the geometric relationship between BTC and USDT on coinmarketcap.com. BTC should be falling exponentially...

Those coins aren't dead. It's just another ledger with a max. potential value that has yet to have libsecp256k1 placed on it.

>libsecp256k1
You keep bringing this up and I dont think you really understand what it is. Its just a more efficient implementation of EC crypto. Bitcoin was already using ECDSA previously, just with a slower implementation.
Forked chains are fundamentally different coins, and cannot retroactively affect the chain they derived from.

if no one is using it, it's dead

if someone wants to start using it again, that's great, but it's going to have the same impact on the bitcoin network as any new shitcoin

please explain how a dead bitcoin fork has more value than any other shitcoin? I'd argue it's way, way less than even the worst shitcoin since it's premined, outdated, and has a huge blockchain. Not to mention that only random users that still have their wallet private keys would be able to reap any scam value off of it. People wouldn't touch it with a 10 foot pole.

Crypt Keepers

bitcoin.org is run by a bunch of shills who want to make money.

the entire fucking blockchain needs to get reset

satoshi's white paper is still valid IMO the purpose of krypto$$$ is to dick investors (((banks)))

fuck you all