oh sure, regulate it so we can go right back to bowing to the banksters!!!
And who/what would write/enforce regulations? The US? the EU? oh how about the UN?
There is a good point which was made in the article though. We do need self regulation of some sort and there is a lack of experts. The people running these exchanges don't know what they are doing. But how do we regulate it in a libertarian way? Being libertarian doesn't mean no regulation, the regulation has to be designed into the protocol somehow. How do we do it internally? |
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oh sure, regulate it so we can go right back to bowing to the banksters!!!
And who/what would write/enforce regulations? The US? the EU? oh how about the UN?
Probably whoever paid him is who he wants regulating Bitcoin. |
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Black hat hackers need Bitcoin to be around. It makes many things very easy that was impossible or extremely hard before Bitcoin. Black hat hackers understand how Bitcoin works and don't attemt to attack the network because it will not be possible to profit or damage.
The white hat suckers might attack the bitcoin because suit or government asks them to do so and because Bitcoin is used by black hats and SR.
Who is the enemy of Bitcoin now?
Traditionally the meaning of blackhat is someone who hacks for personal gain. That would be the guy or group of guys using DDOS and high frequency trading to boost their own profits at the expense of the network. No I don't think blackhats care about Bitcoin and that is why botnets are being used to mine them. |
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I can speak from my position of being long-suffering and very introspective! I joined Bitcoin after searching several years for a currency protocol that would be disruptive. I was researching Disruptive Technologies from the point of view that centuries-old, petrified economic policy and market forces were incompatible with new, highly mobile, networked reality. Are people gaming this situation? Yes, and we are only steps away from alleviating the losses. Miles away from what is to be. Some want fame, fortune, community. Others want it all as a handbag, pwned, superiority! Create the watering hole app. The herd for the grazers - flock, swarm, hive, hut for the myriad drawn to Bitcoin. Almost there, just a dawn or 2 away. FF PS. Luckybit, do you sleep? Or is hyper posting just in your nature?  PPS. thx for trying to create consensus on the forums. I admit, when the prices were going up and seemed to be double every few days I went into obsession mode and did not sleep much at all. You've made some good points and I don't have the solutions to these problems but I know they have to be solved one way or another. |
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Except there is no invisibility with bitcoin - at least not the type Wall Street likes - there are no dark pools, no hidden volume. Everyone sees everything or nobody sees anything.
AFAIK The math guys on Wallstreet focus, among other things, on how to move large shares through the market without letting others know that you're doing it by using algo's. This could be practically copied over to BTC if it wasn't for the fees. What makes you think a small fee would stop them from doing it? It's not big enough of a fee to work. |
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It seems to me the community is divided between whitehats who want Bitcoin to be a success and blackhats who don't care about Bitcoin and who just want to make a quick profit. The blackhats currently have the winning hand because apparently the blackhats are better at high frequency trading, speculating, and coming up with algorithms to manipulate markets. Whitehats in the Bitcoin community haven't caught up to the fact that they are in an arms race against these blackhats from Wallstreet who care nothing about Bitcoin and only want to make profits and who professionally design algorithms to bend or manipulate exchanges to do it. These are professionals, they know what they are doing, and have been doing it since before Bitcoin existed. And it appears to be coordinated as well, because talking heads predicted in advance that Bitcoin would "crash" and even discussed how. Mike Adams for example wrote about it in his Bitcoin hit piece http://www.naturalnews.com/039850_bitcoin_bubble_crash_globalists.htmlIn the hit piece Mike Adams discusses how the central banks can criminalize Bitcoin. He gives step by step solutions in how to drive prices down, he uses the oft-used meme we hear floating around that it's a pyramid scheme, a ponzi scheme, and he claims this is the plan of the central banks. Yet he is the one who predicted approximately 24 hours prior that Bitcoin would crash and now has the detailed plan on how it will be stopped. There is a reason Alex Jones and Mike Adams don't like Bitcoin, it's a global currency which means it benefits globalists. Alex Jones and Mike Adams are nationalists, so why would anyone expect them to support a globalist currency? Bitcoin whitehats need to get up to speed about what is going on. If you believe in Bitcoin you need to fight by producing the greatest algorithms to defend it. Blackhats are probably coding and scheme this minute on how to exploit Bitcoin for personal gain, how to game the system, or on how to destroy Bitcoin. |
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You know, Satoshi's mind about how these things should come together would provide great incites for the project here.
Challenges:
1) How to prune the blockchain correctly
2) What to do about centralized trading houses (ideas for a decentralize exchange)
3) Suggestions for improving Bitcoin PR
Who is this fucking guy to put so much time and effort into building something so well thought out and engineered to such detail, and then to fucking disappear and not even put up an occasional post with suggestions to improve the project? I'm starting to think that Satoshi may have been mentally unstable. Working anonymously ---> paranoid. Not checking in ---> greatly disturbed that things went in a direction he didn't anticipate and so he goes 'fuck it!'.
I think this fucking nut might have just deleted all those early coins he mined in a fit of rage, seriously, starting to think this. Most of those early blocks never moved. Many of those early guys just didn't think anything would come of it and deleted the client & wallet. But a lot of those early blocks GOT to be his. Maybe he mined about 1 million early coins (thoughts about how much of a stake he had). You mean to tell me when the fucking thing got to $250 and priced his 1 mil coin stash at $250 mil, he didn't unload a few million bucks worth?
Seriously, how wealth could this guy have been for not wanting to sell a little and greatly up his lifestyle by selling say 5%. It does not compute. I think the guy just trashed his wallet file in anger/paranoia that there would be some kind of backlash when they had wikileaks accept BTC. He put up that paranoid post about how it would attract all the wrong attention and then bailed.
Its either this or he suddenly died without leaving instructions to loved ones for taking procession of the coins.
Well that's my official Satoshi is fucked in the head theory! Hope I didn't offend the Crypto-Jesus disciples too much there.
Here is the problem highlighted in this algorithm http://theconversation.com/out-of-our-hands-the-hidden-dangers-of-high-frequency-trading-3750It's now an arms race between the whitehats of the Bitcoin community who want Bitcoin to be a success and the blackhats who want to exploit Bitcoin for their own profits. It's an arms race between both sides because whichever side produces the better algorithm and code will win. |
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It's an arms race between high frequency traders who want to game the system and those who want functioning Bitcoin exchanges for price discovery. If Bitcoin cannot win the algorithms arms race it's over for Bitcoin. Here is an article below which highlights the problem which exists in traditional markets and which came to Bitcoin when Bitcoin went mainstream. http://theconversation.com/out-of-our-hands-the-hidden-dangers-of-high-frequency-trading-3750Most of us remember that as soon as the so called "big money" and "big boy" players got involved with Bitcoin then suddenly there have been DDOS attacks, high frequency trading, and other hostile algorithm based manipulation. The only solution is to come up with algorithms to prevent hostile algorithms but that enters us into the domain of whitehat vs blackhat. The blackhats currently are turning Bitcoin into a speculative game to test out their new trading algorithms. |
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tldr
My advice is you should either do a Kickstarter or offer shares on cryptostocks. Some technical questions, what kind of encryption are you using exactly? You boast of encryption but it's short on technical details. How many trades per second can your trading engine handle? We need some specs. Whilst we do not require any form of external funding to bring this project to fruition - we are considering a cryptostock style implementation, we'll have some more information in the near future. We're finalizing our encryption standards, and will be releasing details on this this coming Friday. In terms of trades per second, it can currently handle a little over 60,000 per second - and we're still in the midst of doing heavy optimization work on the engine. Sorry if I have appeared vague in terms of specifications, but as we're finishing off finalizing them - I didn't want to provide false information. Now you have my attention. 60,000 trades per second is much better than the current trading platforms. |
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PPCoin, TerraCoin, AND NovaCoin all more profitable to mine than LiteCoin. ^ I never thought I'd say that.  But only LiteCoin will still be around 1 year later. PPcoin will be fine. |
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PPCoin, TerraCoin, AND NovaCoin all more profitable to mine than LiteCoin. ^ I never thought I'd say that. PPcoin I can understand but NovaCoin? |
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NVC has been added to the list (don't DDoS the messenger ). It is currently 70% more profitable to mine than LTC. How is it more profitable to mine than LTC? |
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I'm for either PPC->USD or PPC->LTC since I prefer to only trade in PPC and LTC and use BTC to store coins.
I agree with you. We really need PPC to LTC not PPC to USD. Why encourage cashing out instead of trading in or up? |
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1.Vitalicus - signed !
YES! |
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I'm supposed to pay BTC to download and read your whitepaper?  Just pay for the paper and then post it for the rest of us. |
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Is this the bronze to bitcoin?  PPC is bronze. This here is I don't know. What innovation does it offer? |
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I am releasing FeatherCoin now. I have been working on this for a while and now want to give it go in the big bad world. This coin is a fork of Litecoin diving back to its 0.6.3 build. I am a supporter of Litecoin and will be following Coblee’s releases. The Litecoin team is working on a newer release and this project will move with them. The joys of a Litecoin fork, are that we get to use Scrypt and follow a release designed for specifically for it. There are a lot of Bitcoin forks but with the advent of ASIC miners we are starting to see how much havoc they can cause. To give us GPU miners shelter we need Scrypt based coins, as, in my opinion, Litecoin is currently the only valid one. Litecoin being as mature as it is makes it hard to join in the fun so let’s start with a new coin that follows Litecoin’s tradition. FeatherCoin has a block reward of 200 and will have a total of 336 million coins. This makes it four times that of LiteCoin, this is the same position that LiteCoin was set against BitCoin. There is no private preming of this coin. This coin is in beta like all this cryptocoins. GUI Version for Windows - http://www.feathercoin.com/FeatherCoin.zipWindows Daemon - http://www.feathercoin.com/feathercoind.zipSource Code - http://www.feathercoin.com/feathercoin-0.6.3.zipThere is a website to come and I will get this on to GitHub. I will update this post with some more technical details tomorrow. It has been a long day so I'll leave you to test this over night. markm, if nothing else I hope that you find this coin useful one day. Smoovious, just start mining. What is the point of having so many coins? That seems to make it much more worthless. Why not have less coins than Litecoin? |
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Hi, I was wondering if the community would be interested in purchasing a usb wallet that has a bitcoin logo either engraved or printed. The usb wallet would be shaped like a credit card. I would need at least 25 people interested because of the minimum order requirement that the manufacture gave me. I'm still waiting for the full quote from the manufacture so I can announce the prices here. Here is the description and a picture that I received from the manufacture to give you an idea of what the card might look like: "Alloy USB Card pushes the boundaries of slim design even further. It’s just 2.60mm thick but can be packed with up to 32GB of solid state memory. The stunning metallic finish presents a crisp and professional image and, of course, the Alloy USB Card can be screen printed in colour or engraved if you prefer. With such an elegant modern design, the Alloy USB Card makes for the perfect corporate gift."  The manufacturer is based in the UK so shipping prices to the US might be a issue. Thanks, Teka UPDATE I: PRICING AND SHIPPING The 8GB version will cost £12.99 or around BTC0.22 UK Customers will get the item shipped by Royal Mail Signed For 2nd Class for free! USA,Canada Customers and EU will get the item shipped by Royal Mail Airsure and will have to pay around BTC0.14. All of the postal services stated above will require a signature upon deliver and are insured. UPDATE II: ENGRAVED VS SCREEN PRINTED It seems like the community has decided that the logo should be engraved. UPDATE III: Warranty, Material and Nand Manufacture The drives are made using A grade NAND components from Hynix, Toshiba or Samsung and are made out of 100% recycled aluminium.The manafacture offers a 10 year warranty as standard. How are you sure it will last 10 years though? |
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Can you register with Bitfunder or Cryptostocks so I can invest in your business idea?
I think you have an opportunity to become rich doing this similar to the guy selling physical Bitcoins. If one thing can promote Bitcoin adoption it's the ability to give people Bitcoin giftcards.
Hmm, we are actually giving people the ability to buy Amazon giftcards with BTCs. Not quite what you are describing, though the implementation of what you're describing is pretty basic in premise. The question is why would you want to give someone a Bitcoin giftcard, instead of just sending them coins directly? In both cases, the ultimate receiver will have to create an wallet address to redeem the giftcard value. Wouldn't it be easier to give them a preloaded wallet instead? It's a good or perhaps the best way to introduce people to Bitcoin and the utility. I think what you're doing is more a way to cash Bitcoins out into Giftcards which is cool but I was thinking bigger. I was thinking about finding a way to preload wallets with giftBTC and then create a sort of giftable wallet. Marketing Bitcoin through Amazon is why. People view Amazon gift cards as legitimate. People view giftcards as legitimate. People like gifts. People use Amazon but don't know what Bitcoin is. A Bitcoin giftwallet could be just sending them the coins directly but in a way which introduces them to the Bitcoin concept and utility through gift giving and perhaps Amazon. So I think your business could be more important than you realize if it were to become popular enough. And yes I'm thinking a pre-loaded wallet would work too just so long as it can be sent through Amazon. Imagine Alice sends Bob a Bitcoin giftcard with preloaded wallet which can be used at Amazon or anywhere else? They don't even have to know much about Bitcoin or the wallet but just that they can receive some Bitcoin and redeem it at their favorite sites somehow. For now it would be more a cool way to distribute Bitcoins to people who will not know what they are and who can be motivated to learn to cash out their gift money. If they know their Bitcoins are worth 25 bucks or whatever now they have to learn what Bitcoin is. Once they find out what Bitcoin is and how cool it is, the eco-system benefits. The Bitcointip bot is similar and works well so far. The giftwallet wouldn't require a person even know what Bitcoin is. They simply get gifted with it and either learn to spend their gift or not. I'm convinced small gifts can introduce people to Bitcoin and they'll be more likely to spend it if they didn't have to earn it. |
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The backbone of Bitcoin is the Minors. Without them we are all dead. But we are foolishly wasting the single most powerful computer network ever created…
How?
By using that hashing power to solving complex math problems that in the end do nothing but regulate the speed of Bitcoin deployment.
While I see the necessity of proof of work to be rewarded coins, who the hell says that work needs to be directed at cracking crypto puzzles? It doesn't!
…a much, much better use of that work could be to power a Bitcoin driven darknet mesh network.
On this darknet Bitcoin decentralized exchanges could be built, and all Bitcoin transactions could be piped though the darknet…
The net effect would be the same as it is now. Difficulty could still be adjusted accordingly, but not to solve a math problem, instead to power the darknet mesh network.
The traffic on the darknet would be directly related to the load demand on Bitcoins. The hashing power would increase just about the same time the darknet needed it as the price (and user base) of Bitcoins increased.
Such a darknet would make Bitcoin completely immune to DDOS attacks, inepts like Mtgox, and even immune from a shutdown of the internet.
…All because we used our tremendous hashing power far more wisely!
Lets not get complacent. We'll be in the same boat 2 years from now. Lets not make the same mistake. There are some obvious flaws in the infrastructure surrounding Bitcoin. (Mtgox, and all central exchanges simply gotta go period!)
Lets fix the problem now. Strike while the iron is hot.
…A miner driven darknet mesh network is an elegant solution to the problem. And could be done so easily building on existing open source darknet code.
What would it take to get this implemented?
Not a bad idea but this would depend on there being a wide distribution of miners while the current trend is toward a miners elite market. |
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