Bitcoin Forum

__update---

People seem hostile to this initiative but in reality i'm just trying to provide a voice of reason i really believe our investments here rely on this :

key updates in bold

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- - Bitcoin is stagnating

- - This is a failure of the free market.

- - Bitcoin needs to replace its broken central authority (mining monopoly standoff)  with an authorized authority

- - This could be Democratic similar to the UN.

- - Also Bitcoin needs a Global ID so that the Central Authority can enforce and ensure that no double spends occur.


People already seem malleable to the idea as they are actively giving hand ID and other such ID at "Bitcoin ATMs" i think there would be net net low resistance.

maybe a few "free market rebels" here and there, but if we can control and distract the flow of information we could crowd these guys out and hope that though, Problem > Reaction > Solution we can get the desired effect?


feedback is welcome.


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Bitcoin needs to step up,  becoming a structural system that has the confidence of the business community.

in the end. as i said it's your investment, chaotic market forces will not be kind to Bitcoin price valuation.

the Points:

- half a central authority is not going to work. (where you are now)

- move to a full central system that has the support of key business financial community members.

- make the "Global ID" sound friendly and geared towards to consumer, like "safety verification" etc.

- this policy/protocol also ensures good community practice with the ability to block questionable transactions, i.e Terrorists pedophile transactions etc.

Bitcoin isn't fucking stagnating and neither are cryptocurrencies, have you seen the volume coming in? This is actually something that was theorised years ago back when I first joined at Bitcoin was at $50 or so and people were crying about the volatility. What's happened now is because we've got a ton of people coming in the price is actually beginning to stabilise compared to before as a lot of new money has come in and you can't have people throwing a few thousand at the market and then screwing with the price.

Also, you're proposing to 'fix' this 'problem' is essentially an organised oligarchy and I've had enough of that kind of bullshit so fuck you.

All I had to do was read your "Quark Free Market" and I knew why you posted this.

;)

Create exactly what you describe above, exactly what you want, exactly what you think people want and need.

Compete head to head with Bitcoin

Winner take all.

You will lose.  I am betting on it because I own a boatload of BTC.

BTW what it the name of the thing you are pushing?  Just curious.

plonk

hmm interesting so you are saying the free market will win?

i suppose there is some evidence to suggest that.

but on the other side there is a lot of evidence to suggest that monopoly and central authority is more efficient:

-  the Bitcoin Price has caused its success so far for example.

-  Also this "Bit License" regulation could open doors to key areas of the corporate world.

-  A proper central authority and a Global ID would be key in gaining support for Bitcoin from key financial institutions that seem to be now standing aside due to its "free market volatility"


so in Summary:

Bitcoin needs to choose a side, its monopoly central authority is breaking down, the only way to gain KEY support from KEY financial institutions is if they are confidence that there is a fixed central authority.

The Global ID would be needed to assure security and be certain that no double spend occurs.

If you haev invested a "boatload" in Bitcoin you should properly now want the further proliferation of this assets to the authority that can have confidence in it.



no ?

 

Are you kidding me?

You have that much activity and that many posts and you don't know the first thing about how Bitcoin actually works, the problems it solves and what makes it such an exciting invention?

Sad.

I see you registered March 09, 2013, 07:14:42 PM

What the hell have you been doing all that time?  Spouting forth shit on something you have not even taken the first baby steps in learning about?

OP has listed all the things Bitcoin doesn't need, all the things that would effectively destroy its value as a currency.

as the attitude of the OP seems very noobish. seems its a noob that has bought a 'experienced' username..

if you read Bitcoin paper then you will come to know that primary goal of Bitcoin is not to trust central authority. 2nd link in the introduction paragraph.

Feel free to enlighten yourself: http://www.bitcoin.org/bitcoin.pdf

I agree.  Appears to be an infant trying to purchase adulthood.  Didn't work.

no.

It's your prerogative it's your investment.

I'm outlining key drivers for growth of the assest "Bitcoin"

I'm specifically mentioning why it relates to Bitcoin and why this transition looks to me the only probable outcome for an increased valuation ascent.

Honesty test:  How long have you owned the digitalindustry account?

I could not disagree more with the OP. We neither want nor need any sort of global authority and certainly not one similar to the UN.

As a newly minted bit coin business owner I prefer the flat pricing. It makes planning easier and shows stability.

Nah, inane rambling are just a side effect of Quark.

Start your own "Central_Authority_Coin" and let it compete against Bitcoin. Let the free market decide.

Besides isn't "Problem > Reaction > Solution" a shortened version of the communist/socialist think tank idea "Create Problem > Control Media Reaction > Propose Social Solution" that I use to run across a few decades ago?

It is because of people like you, that Bitcoin has so much support. Go find a museum and have yourself mummified for future generations to laugh at.

hey OP, this is the exact OPPOSITE of why Satoshi created Bitcoin!

i'm just trying to be the voice of reason, i'm trying to support the market view.

intentions shift, that's a part of the whole reason systems/protocols evolve.

for Bitcoin the trend seems to be that this would be "stepping up", becoming a structural system that has the confidence of the business community.

in the end. as i said it's your investment, chaotic market forces will not be kind to Bitcoin price valuation.

the Points:

- half a central authority is not going to work. (where you are now)

- move to a full central system that has the support of key business financial community members.

- make the "Global ID" sound friendly and geared towards to consumer, like "safety verification" etc.

- this policy/protocol also ensures good community practice with the ability to block questionable transactions, i.e Terrorists pedophile transactions etc.

Bitcoin is stagnating

- - This is a failure of the free market.

- - Bitcoin needs to replace its broken central authority (mining monopoly standoff)  with an authorized authority

- - This could be Democratic similar to the UN.

- - Also Bitcoin needs a Global ID so that the Central Authority can enforce and ensure that no double spends occur.



The programmers are strengthening the safety of the Bitcoin. As the degree of acceptance of Bitcoin increases, it will have a profound effect on the market. As so far, it has  continued for a long period, and in the next tens of years, the payment method by Bitcoin will stir the payment market and other market based on credit.

Thanks for the chuckle ;D

if you hold BTC you shouldn't be laughing its our investment here at stake.

its lasted 5 years without an ID. paper banknotes has lasted decades without an ID so plase stop sniffing the glue, an ID will not actually help people one bit and wont prevent 51% risks or double spends.  so i do not see why you have to make more than one topic spouting the same crap, im starting to think that you are the adoni guy with multiple usernames that was creating FUD last month, as you both have a loose grasp of reality

whatever... go fork bitcoin, implement what you just said, and see if any of us adopt it... free market right...

Central authority? Global ID?  ;D

Bitcoin needs neither, think you'd be better off sticking to fiat. I'd advise you to give me all your btc before it fails:

16qJ793mcS8rzpZRBuQqoSJk8L1DVz2UjW

Who are you to say the free market has failed. BTC hasn't failed. There are more and more shops and places which accept it.

On the contrary, the UN has failed everywhere. Recently, it hasn't been able to prevent anything in Gaza of Ukraine, and it's not very effective in controlling the Ebola outbreak. You may not believe in the free market, and I respect that, but I don't believe in organizations. History teach us they fail all too often.

BTC would not be any better with a central bank and an authority to control things.

- The central auth would hold a ledger

- the "ID" system would ensure the verification of that ledger.

all 51% issues are solved, the central auth could be "democratic"

If you were here when the FBI coins were auctioned, then you would have read all the discussions that concluded that for a currency to be fungible, it can't be arbitrarily blocked (it's arbitrary because who will decide what's good and bad?).

I think we should have separate subforums for the perennial posts of:

1. Bitcoin needs a central bank!
2. Bitcoin is a Ponzi/pyramid scheme!
3. Bitcoin is destined to fail because of economics especially deflation!
4. Bitcoin is destined to fail because 21 million isn't enough!



That said, this is the first post I've ever seen that says Bitcoin is failing because the price is TOO STABLE! ::)

OP could probably get Mike Hearn to help him build it.

This proposal has all his favourite talking points in it.

You are free to save and use any crypto currency crap made by governments, like the Ecuadorian one. Bitcoin is perfect as it is.

Just fork the client and the blockchain and see how many people adopt this alt IDCoin or ControlACoin.

Discussing it does nothing to fix the problems that you see. 

I'd also add:

5. PoW won't work, we need PoS.
6. We need a white-list/black-list to stop X from spending coins (non-fungibility).
7. There is a bug in Y part of bitcoin that lets me steal coins.
8. The number of bitcoin addresses isn't big enough, we need a larger space, I'm going to try and brute force private keys on my GPU.
9. Irreversible payments are bad.
10. We need a "fairer" distribution of coins. 
11. Transaction times are too slow (as compared to confirmation times).
12. We need stability in the fiat price of bitcoin, there has to be a protocol level stability mechanism.

There are probably a few more.  ;-)

If everyone who brings the same topics up again and again actually forked the code and the blockchain and implemented each of the problems they see, we'd all be much happier because we could see if people actually agreed with these ideas (doubtful imo).

plonk!

What are you toking bro!?

Over the years I have seen many dipshits like the OP come and go. 

They leave behind them a steaming pile of worthless posts that no one will ever care to read again.

Bitcoin remains, unchanged, not caring about their idiotic opinions in the least bit as it marches onward and upward wining one heart and mind at a time.

This is exactly what the concept of bitcoin was trying to solve. When you have a central authority, you need to trust them to accurately keep track of your money. They would be able to add to their own balance or take away from your balance, and there would be nothing you could do about it. Bitcoin makes it so the network enforces the policies of the protocol. 51% issues would not be solved, we would essentially always have someone in control of 51%+ of the network (we would have the same effects and the same vulnerabilities)

Why dont u just sell out or your Bitcoin and move to Stellar ? Stellar is offering exactly what u think needs to be done to Bitcoin. That centralization, that ID proof. According to U, that would make Bitcoin more valuable... right ? So, as per your theory, Stellar should cross the Bitcoin price in coming days. I'll give u 15000 Stellar against 5000 Bitcoin. 1/3rd of a price as per your theory. Exchange ?