Easy:
1) Start a plan to centralize nodes
2) Sell to people that it's better to sacrifice node decentralization in order to buy coffees on chain
3) Give 100% power to miners via BUcoin type clients that give them all the power over blocksize and get rid of any possibilities of user rebelion against miners via UASF
4) Bitcoin's most important property (bitcoin as decentralized gold) is now over
5) Governments now control transactions due having control over easily bribeable datacenters that run both nodes and miners.
That's a lot of if 1) centralized node? On a decentralized network? Centralizing nodes would require a hard fork that must be agreed to by an overwhelming majority of nodes worldwide. Why would the entire world do that? 2) That may happen organically? Some think this now and have created thousands of alts to address it. The NSA would just be alt #7453. Good luck competing though. 3) No one on Earth has the authority/ability to do that in the protocol. It would require a hard fork to a fundamentally different system that we would all have to adopt. Have you ever met a bitcoin user that would agree to that, much less a super-majority? 4) I don't know what that means? It's over because someone said it? well in that case, war poverty and death are now over! I command it! 5) wow, this is going to be expensive. The US government is going to spend billions bribing miners all over thee planet to... wait why are they doing this? Where is the money going to come from? It is illegal for the us to pay bribes, so this will require an entire secret bureaucracy willing to go to jail for no apparent gain. They will need to operate in almost every country on Earth and be 100% successful. How long do we do this, forever? What happens when I refuse to be bribed and set up a mine? It is just not feasible, practical, likely to succeed, cost effective, or lawful. Hi RodeoX. The question is not, if it is possible to take control over Bitcoin, but what they would try to do to achieve this goal. Judging from quotes I read from the IMF, they are pretty aware, that "Cryptocurrencies" (Ms Lagarte avoided spelling the evil name "Bitcoin") can lead to a loss of control over the international cash flow. From there it is just a small step to put up a meeting with some important guys with the topic "How can we stop this Bitcoin thing if it gets too big?" What would be suggested on this table? Ah, well then I guess someone would suggest those things. But I see no path to a takeover yet. Although I would love to see banks lose a billion dollars trying. |
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OMG, this just in! It also might NOT happen!!!!! Get your heads around that.  No one knows. |
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Ok, so....
What is your collateral?
How will escrow be handled?
What rate will you pay?
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Maybe you guys don't have an income tax? In the US "they" don't calculate my tax. It is up to the me to report all my income, calculate how much tax I owe and then pay it. "They" give us all the forms to fill out but it is up to us to fill out the forms. How they track your income for tax evasion charges is up to the government. They have many ways to do this. Sure you can evade paying the taxes until you get caught.
Perhaps this is part of the confusion? I know many (most?) countries do the calculations and hand over a bill to the taxpayer. In the U.S. we have an unusual system that has the taxpayer prepare their own return. So if you are not used to doing your own taxes it could get quite complicated. |
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Be honest  I would have said something like: Come on man, that is just wishful thinking. Take a breath and come up with a serious valuation. Maybe more like $1200-1500. I am super happy to be totally wrong!  |
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Here is the best advice you will get here:
You know very little about those coins. Don't invest in something you don't understand.
I'll second that. 99+% of alts are pointless. I would not pay anything for any amount of alts, they are basically worthless. |
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So RodeoX you're saying that you cant make money or treat this like stocks?
I have no interest in buying just a bitcoin to buy stuff online. Maybe I wasn't clear in my original post. I am looking to buy and sell as an investor, not buy them to shop. Is that not a feasible market or idea? Does nobody do this?
Not to sound insulting but the difference between getting casino chips and cryptocurriencies is that tomorrow or next week when I go to cash in my chips they will be worth the exact same amount every hour of every day of every week as when I first got them
No insult taken. My casino analogy was not really that apt. You can certainly treat BTC like a trade-able asset. But here is a way to maximize profits. 1. Buy some coin. This will cost you some money in trade fees. 2. When you see an appreciation in value that you want to lock in, consider this idea. Instead of locking it in as pounds, dollars, or euros think about avoiding fees. If instead you bought a gold bar you would not only save on trade fees, most places will offer a discount for using bitcoin. Now you have the maximum value. You could also take some cash and put it in the bank while spending BTC to shop. You will net more of the value of your coin this way because you are avoiding the fees and hassle of trading. And you will have greater security and speed than shopping with a card. |
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My advice is to forget about making "money". Bitcoin is money. You never need to lose money by turning your bitcoin back into inferior cash. Simply use it to buy online. That is what bitcoin is for and until you spend bitcoin you have not really used it. It would be like calling yourself a gambler because you bought some casino chips and carried them around a bit before selling them back.
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Just to clarify - let's say someone wants to setup a cash>BTC ATM machine. Ignoring the state requirements for a moment - what constitutes compliance at the Federal level? I see many of these machines simply asking for a. fingerprints b. IDs or c. cellphone numbers alone to enable transactions. Would these methods suffice to KYC at the federal level? I know the states can make things vastly more complex but again, ignoring the states for a moment.
I believe you are correct. The ATMs I have visited in the U.S. require some "proof" of identity by scanning an ID and/or the other things you mentioned. The business just has to demonstrate that it is trying to keep out money laundering, and that they have tried to determine the identity of the user. The reason the government can insist is because the transaction involves their money. Remember, you CAN NOT own dollars. |
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We should expect a wrong answer when you consider... Here is a new form of money, unlike anything before!  Who should we ask about it? Hmmm. How about an expert in the kind of money that bitcoin is not. Or maybe Warren Buffett? He is no only an expert in the wrong money, but he is a senior citizen. They are always a good choice when asking about new technology. |
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Easy:
1) Start a plan to centralize nodes
2) Sell to people that it's better to sacrifice node decentralization in order to buy coffees on chain
3) Give 100% power to miners via BUcoin type clients that give them all the power over blocksize and get rid of any possibilities of user rebelion against miners via UASF
4) Bitcoin's most important property (bitcoin as decentralized gold) is now over
5) Governments now control transactions due having control over easily bribeable datacenters that run both nodes and miners.
That's a lot of if 1) centralized node? On a decentralized network? Centralizing nodes would require a hard fork that must be agreed to by an overwhelming majority of nodes worldwide. Why would the entire world do that? 2) That may happen organically? Some think this now and have created thousands of alts to address it. The NSA would just be alt #7453. Good luck competing though. 3) No one on Earth has the authority/ability to do that in the protocol. It would require a hard fork to a fundamentally different system that we would all have to adopt. Have you ever met a bitcoin user that would agree to that, much less a super-majority? 4) I don't know what that means? It's over because someone said it? well in that case, war poverty and death are now over! I command it! 5) wow, this is going to be expensive. The US government is going to spend billions bribing miners all over thee planet to... wait why are they doing this? Where is the money going to come from? It is illegal for the us to pay bribes, so this will require an entire secret bureaucracy willing to go to jail for no apparent gain. They will need to operate in almost every country on Earth and be 100% successful. How long do we do this, forever? What happens when I refuse to be bribed and set up a mine? It is just not feasible, practical, likely to succeed, cost effective, or lawful. |
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If you think they are enriching themselves by charging fees that are higher than they have to be, then mine. No one can stop you from offering the same service for less. That is the system, nothing more is needed.
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honestly, i feel it's out of control =/ Did Satoshi envision this?
Yes. Once a predetermined number of coins have entered
circulation, the incentive can transition entirely to transaction fees and be completely inflation
free. If the mining fees are too high then one can open a mine and take their business. Bitcoin rewards work. do something=get something. If the price really is too high then you will win the competition. |
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It may not work if you do volume, but you could just do it yourself. You don't need a payment processor. Just a wallet an a min. to respond to orders. But again, this will not scale well. maybe?  |
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Page 8 and no plausible method.
Already done it while you were sleep, look how they got to BitMain which is a large miner manufacturer and till now they are pushing for a take over. Only thing users can do is to hold their coins and don't sell so cheap and if they sell make sure they're selling to ordinary people like themselves. When you tell people that bitcoin is the real deal and a game changer they just see what's in front of them which is the market and price fluctuations and greedy miners, they lack the ability to jump out of the orbit to see for themselves that sun light is not yellow and is white. selling bitcoin is equal to giving away a diamond thinking it's only made from carbon and we have lots of carbon on earth. When you say "they got to BitMain". Who do you mean? And how were they gotten? They seem to up and running. https://bitmain.com/I know they have been involved in scandals, but that has no more to do with bitcoin than dollars have to do with a bank robbery. To defeat bitcoin one has to defeat the protocol. Going after people for cheating on taxes or scamming others is a different issue. |
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Here we have another thread where no one posting has any power to control or change anything. BitPay doesn't post here anymore and hasn't since 2014. https://bitcointalk.org/index.php?action=profile;u=31293Tony Gallippi is far too intelligent to respond to anyone on this shit nest sig campaign forum. Very few people with any kind of real control post here anymore. I'm suprised to see Maxwell post here on occasion and even then it's just to tell someone how monstrously stupid they are. I doubt they even read this crap anymore. LOL, I'm guessing your right. I mean the guy owns one of the biggest BTC companies in the world. He is not looking for an opinion. He is acting to run his business profitably. He may actually have a "fiduciary responsibility" to be responsible and not entertain theories. |
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I don't think "counterfeit" is the right term. There is no attempt to pretend that alts are bitcoin. Just as Euros are not counterfeit dollars.
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Page 8 and no plausible method.
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IF? There is no if about it. Free markets crash, correct, whatever. |
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You say the price is "high" how would anyone know that? The market says it's the right price.
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