Cool. When is your exchange launching?
Oh right, unless you run an existing exchange, you can't possibility comment on how MtGox is run. Maybe those 7 people on the planet can chime in. Are you 6 years old (and/or retarded)? You can comment all you want. Meanwhile, they are there and making money. If things were this simple, they would have been out-competed years ago. Or you have an incredible business opportunity. So... when is your exchange launching?   |
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BITCOIN SHALL REIGN FOREVER!  |
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Building a legal case?  One day somebody will probably predict his date of death in a prediction market. |
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If you're member of the Vladimir Club, I believe you will be able to retire on it within 3-5 years. |
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It's different this time™
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Just stay on your toes, that's all I'm saying.
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What I mean when I use that analogy is that Napster started the music download revolution but in the end was killed and it was iTunes that came in and did it the right way.
The foundation of Bitcoin is solid but it's full of flaws the Bitcoin community refuses to address. Add to that, the continued refusal (As if it would even be possible to avoid) to submit to regulations. This will kill bitcoin on a mass adoption scale faster than anything.
Ripple, like iTunes is prepared to play nice and work within the confines of the law. Not to mention, doing all the things Bitcoin could have done, but didn't.
Regulation is a problem mkay? Bitcoin was made to solve this problem. You want regulation? Just use the banks, use paypal, use the now dead e-gold. How you can talk about regulations as something necessary to bring bitcoin mainstream is beyond me. That invalidates the whole point of bitcoin in the first place and it makes me wonder what you are doing here. Why use Paypal when I can have incredibly low transaction fees? Makes no sense. It might invalidate YOUR view of Bitcoin but that's not what it's going to be moving forward. Because bitcoin is very unstable and you may very well lose a lot more than paypal fees when buying and selling using bitcoin. So it makes perfect sense. We'll regulate it or we'll kill it. Meaning blackball it from any mainstream existence and reduce it to a black market only currency that legitamate business wont touch with a 10 foot pole. Like we regulated e-gold? Yeah, that worked out real nice. Anyhow, that's why I love bitcoin, it can't be regulated, no matter how much you would love it, it just won't happen. |
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What I mean when I use that analogy is that Napster started the music download revolution but in the end was killed and it was iTunes that came in and did it the right way.
The foundation of Bitcoin is solid but it's full of flaws the Bitcoin community refuses to address. Add to that, the continued refusal (As if it would even be possible to avoid) to submit to regulations. This will kill bitcoin on a mass adoption scale faster than anything.
Ripple, like iTunes is prepared to play nice and work within the confines of the law. Not to mention, doing all the things Bitcoin could have done, but didn't.
Regulation is a problem mkay? Bitcoin was made to solve this problem. You want regulation? Just use the banks, use paypal, use the now dead e-gold. How you can talk about regulations as something necessary to bring bitcoin mainstream is beyond me. That invalidates the whole point of bitcoin in the first place and it makes me wonder what you are doing here. |
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Bitcoin = Napster
Ripple = iTunes
Napster was centralized by the way. That's how it got shut down. If anything, put the equal sign between bitcoin and bittorrent if you want an analogy. |
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Ripple
i think we all should do some home work  |
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If we look at the market cap of ripple (which now apparently is TWICE that of bitcoin), we're only decimal shifting away from the price of bitcoin exploding. The human psyche is interesting. The same applies to alternative currencies. It's like if people are unable to think in anything but units. "Oh, 1 BTC costs $122, that's very costly". Yet, ripple costs twice that, if you where to divide by total units. Pretty ridiculous, and a very good reason to adapt mBTC. A similar effect could even be accomplished by multiplying all bitcoins in existence with say 100x. So everyone who now owns 1 BTC will suddenly own 100 BTC, with a limt of 2100 million instead of 21 million. There is no difference, but I'm convinced the psychological effect of a change like this would cause massive increase in the price. The evidence is right in front of our eyes, ripple has nowhere the same adaption as bitcoin. What's happening with Ripple is a joke. A couple of months ago they gave away 50K to anybody with a bitcointalk.org account who asked for it. A lot of members bought forum accounts, and have accumulated hundreds of thousand/millions of XRP. Today, $1 buys you roughly 50 Ripples - that means that the Ripple founders just "gave away" $1,000 to everybody who asked for them a couple of months ago, and they are sitting on +$1B potential profit at this very moment - with their buggy software in early Beta, with only a trusted Gateway in the system (Bitstamp) and without having proved anything (there's a lot of security concernes that need to be tested). Obviously the $1,5B market cap is just "theory", because there is no market for 100B Ripples ATM, but it illustrates how crazy is this shit, and how rich the OpenCoin founders can become with their business model. Even if Ripple is "half a failure", they will be all set for life. IMO it's an horrible product from a philosophic point of view (actually it allows anyone to create "money out of thin air" through IOU's, I can foresee epic scams coming, everybody can be a bank running fractional reserve), but it is a BRILLIANT idea for their creators.. It's the ultimate get-rich-quick scheme.... But only for them. As soon as they want to cash out, they will destroy the market - heck, they say the will hold onto 20% of the total currency that will ever be created. And now tell me about the FED. They are the ultimate centralized power. +1 But why? god why are people paying that much? It's not possible to justify such massive market cap when bitcoin, which has been here for years and has countless merchants, is worth less. It must be purely human psyche at play. People are unable to differentiate between units of different market caps and it leads to it being ridiculously overpriced. There are people getting rich here, without bringing much value to the table. I'm definitivly not buying ripples any time soon. |
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If we look at the market cap of ripple (which now apparently is TWICE that of bitcoin), we're only decimal shifting away from the price of bitcoin exploding. The human psyche is interesting. The same applies to alternative currencies. It's like if people are unable to think in anything but units. "Oh, 1 BTC costs $122, that's very costly". Yet, ripple costs twice that, if you where to divide by total units. Pretty ridiculous, and a very good reason to adapt mBTC. A similar effect could even be accomplished by multiplying all bitcoins in existence with say 100x. So everyone who now owns 1 BTC will suddenly own 100 BTC, with a limt of 2100 million instead of 21 million. There is no difference, but I'm convinced the psychological effect of a change like this would cause massive increase in the price. The evidence is right in front of our eyes, ripple has nowhere the same adaption as bitcoin. |
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I know, I was using onion.to, but seems the hidden service is down.
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I'm getting: nfokjgfj3hxs4nwu.onion is currently unavailable. Proxy timed out while trying to connect. (4). |
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i'm getting excited. Someone has a bitcoin boner.   |
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11 million shares and a global economy that we are only hoping to get a small fraction of a percentage of ? $120 is VERY cheap  |
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Amazing, really looking forward to see the full documentary! |
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There's truth to that but a bank is amoral. It's just a building. It's the people that make it "evil". We're just trading one group of greed, oppressive bastards for another. Heck, a few pages back or so there was talk of starting their own bank in some other country. See, Bitcoin is not about hating the banks, its about not being in control. They want to take control from the current rich and powerful, so they can be the ones in control and be the same greedy bastards we have now.
You know what...I'm going to the beach to hang out with the lowly poor people. As I refer to me, them, most of us...the mainstream. Not about to wreck my day over a stupid thread.
Thanks for the +1 brother.
Most bitcoin pioneers are of the voluntaryist & libertarian philosophy. That means we're against the current control structure and do indeed want it replaced, but it doesn't mean we want to replace it with ourself, but simply systems that cannot be controlled. We don't want control, we just don't want to be controlled. Listen to Milton Friedman, he'll teach you something about greed. |
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Tails to minimize risks of leaks, ideally you can also use VPN as a wrapper around Tor traffic for ultimate protection. Store all your files encrypted, generate unique passwords for all sites and store passwords and your GPG key(s) safely with KeePassX.
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