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141  Bitcoin / Bitcoin Discussion / Re: Who is Satoshi Nakamoto? on: April 22, 2013, 10:22:17 PM
Satoshi will never come forward. He has absolutely no incentive and incentives to keep himself anonymous. First, there are legal concerns with his creation that are both complex and difficult to manage. Second, it would hurt the bitcoin by attaching a face to something that shouldn't have one. Third, it would fracture the community into pro-satoshi and anti-satoshi people.

It won't happen guys

Satoshi Nakamoto = Sat.N = Satan.  Cool
142  Economy / Speculation / Re: $500 bitcoin by mid-July on: April 22, 2013, 06:07:47 AM
If you want bitcoins to be worth $500 soon, I would suggest you find a big celebrity, and get them to buy a few, and tell their friends about why its such a good idea!

If you got a nice guy like Tom Hanks tell TMZ that he just went and spent $10 million on bitcoins - that would make a huge difference!

Get someone like Daniel Radcliffe using bitcoins and the world is your oyster!

The trick is that to get public acceptance of bitcoins you need to work on famous authority not facts and figures! 

Marketing 101!



Dare I say Justin Bieber.

Bieber won't endorse Bitcoins, his handlers wouldn't allow it.
143  Bitcoin / Bitcoin Discussion / Re: Who is Satoshi Nakamoto? on: April 21, 2013, 09:54:57 PM
So you're saying Satoshi is John Titor? That's not very helpful, you know.

I just wrote that as a joke, to get people to relax a bit about who or what Satoshi could or could not be.

I believe that it's best we respect Satoshi's wish to remain anonymous, being that anonymity is one of the protocol's notable features.

Uhhhhh ..... you do know the whole "John Titor" thing is a joke, don't you? I'm sorry you took my comment seriously. I'll get the hang of emoticons one day, I promise.

Yes I'm aware of the whole John Titor thing. It's fun sci-fi stuff.
144  Bitcoin / Bitcoin Discussion / Re: Who is Satoshi Nakamoto? on: April 21, 2013, 07:15:07 PM
So you're saying Satoshi is John Titor? That's not very helpful, you know.

I just wrote that as a joke, to get people to relax a bit about who or what Satoshi could or could not be.

I believe that it's best we respect Satoshi's wish to remain anonymous, being that anonymity is one of the protocol's notable features.
145  Bitcoin / Bitcoin Discussion / Re: Who is Satoshi Nakamoto? on: April 21, 2013, 07:13:22 PM
+bitcointip noedaRDH 5 mBTC

Thanks dude. Just thought this forum would benefit from people lightening up a bit. Every other post here is almost too serious and too dark. We need a bit of fun and fantasy with BTC's to make it approachable.
146  Economy / Economics / Re: On "intrinsic value" and why it actually means "subjective value" on: April 21, 2013, 07:01:42 PM
Intrinsic value is just someone's marginal value. People should know this if they studied any course in microeconomics.

One's intrinsic value can change over time, depending on his or her situation. It is very subjective not only to personal tastes but to external factors (income, culture, etc).

A bar of pure gold might be what you fancy in day to day life.

But if you're lost in the Sahara, you'd give up that bar of gold for a jug of water in a heartbeat.
147  Economy / Economics / Re: Video: Bitcoin Ponzi scheme on: April 20, 2013, 01:27:49 AM
So as I was watching a video of Bitcoin, another video came up as featured:

http://www.youtube.com/watch?v=0UKC7iaBKvs

The author tries to explain how Bitcoin is a Ponzi scheme.

He's missing the most important point: Bitcoin is not a zero sum game!

He's just a silver bug. Guy probably types with two fingers. Ignore him, he's not ready for Bitcoin.
148  Economy / Economics / Re: Bitcoin is a flawed technology on: April 20, 2013, 01:26:42 AM
Bitcoin relies on distributing a file with unlimited size to every single node in the network in order to function. Bitcoin therefore would theoretically succeed if the resources required for storing and transmitting such an unlimited file size were also unlimited.

However, its clear that for the foreseeable future, storage is not unlimited, and also bandwidth is not unlimited. The unlimited size of the blockchain; the fact that anybody can add transactions for no cost, eg. SDice. The overhead with distributing an unlimited sized file to every node.

Moore's law is cited in Satoshi's paper as being a fundamental tenet on how the bitcoin system works. Quoting from Satoshi's paper:

Quote
If we suppose blocks are generated every 10 minutes, 80 bytes * 6 * 24 * 365 = 4.2MB per year. With computer systems typically selling with 2GB of RAM as of 2008, and Moore's Law predicting current growth of 1.2GB per year, storage should not be a problem even if the block headers must be kept in
memory

However, "Moore's law" is not a law at all. It was just an observation made 40 years ago that the price of storage would decrease for the foreseeable future - that we were entering an era of microcomputing. It cannot hold true forever. There is a hard limit to how much information can be stored on a chip.  Its just we haven't reached it.

Therefore the concept of distributing an unlimited sized file to every node on the network is fundamentally not sustainable or economical - READ: flawed. Storage will not be getting cheaper forever but the principle underlying bitcoin is for the filesize of the blockchain to be getting bigger forever.

Let's not also forget the bandwidth usage requirement as well, which will also be getting bigger forever.


The requirements of porn means the creation of greater storage will never cease.
149  Bitcoin / Bitcoin Discussion / Re: Who is Satoshi Nakamoto? on: April 20, 2013, 01:10:28 AM
Who is Satoshi Nakamoto?

In the year 2140 A.D., corporations and bankers ruled the world without mercy.  The masses were penniless and without hope. Death was the only liberation for every new-serf brought into that world.  "Decent" people never lived below the 60th floor.

Much to the disappointments of his ridiculing associates, a professor by the name of Satoshi secretly tolled for years envisioning a world that could have been different - one that was not so desperately dystopian, where the dreams of many were not robbed away by the greed of the few.  

Eventually, Satoshi had gained contact with underground rebel forces and a new resistance was forged.  They fought their way to the heavily guarded Nakamoto Industries, to find the rumored quantum-computer that ping messages back in time.  A template was backloaded to the year 2008, when 3D printing was still in its infancy -- where a 3D-printed clone of Satoshi emerged.

But moments before the clone could initiate the upload of his P2P currency exchange program, his unstable form disintegrated into dust.  A blinking cursor and an enter key was all which stood between two very different futures.

Satoshi (circa 2140) was arrested and submitted for execution without trial.  Staring down the barrels of death, a smile came over his face - one filled with such hopeful optimism not witnessed by mankind for over a 100 years.  Unsure of what to make of this, the 502's - the bankers' private gestapo unit - squeezed the triggers.

Suddenly, in a blink of an eye, the vanguards of fiat and stolen wealth faded out of existence.  These elites and their mega-structures crumbled under their own weight; they flew off into the wind... as irrelevant as footprints in the sands of time.  Perhaps by luck, The Resistance's plan succeeded -- someone pushed the enter key, causing a Ripple that changed the past and thus time itself.  

Man's darkest hours at the hands of bankers had been undone, his chains were finally shattered.  

The once regulated were now freed.

Satoshi had won.
150  Bitcoin / Bitcoin Discussion / Re: Julian Assange on Bitcoin on: April 19, 2013, 09:17:10 PM
Assange = Satoshi?

Doubtful, but he might know who Satoshi (the person or the group) actually is.

If you were Satoshi would you tell someone who has a habit of publishing every scrap of information he has to the entire world no matter what the comeback is? He would be the last person on the planet I'd tell.

Satoshi wouldn't have to tell Julian. Someone who knows of Satoshi or knows who of the group might have contacted Julian.
151  Bitcoin / Bitcoin Discussion / Re: Julian Assange on Bitcoin on: April 19, 2013, 07:58:15 PM
Assange = Satoshi?

Doubtful, but he might know who Satoshi (the person or the group) actually is.
152  Bitcoin / Press / 2013-4-15 Bloomberg - Bitcoin Currency Fever Spreads to Argentina on: April 17, 2013, 04:40:17 AM
And the FUD never stops:

http://www.youtube.com/watch?v=aTbtI4Gpp-Y
153  Other / Off-topic / Re: Satoshi might be mentally derranged on: April 16, 2013, 11:25:29 PM
Does it really matter if Satoshi is not mentally well? What difference does that make?
154  Bitcoin / Press / Re: 2013-04-16 BloombergTV: Bitcoin ATM Coming to a Corner Near You on: April 16, 2013, 11:08:07 PM
Britain does have a way of producing a lot of snobs, doesn't she?
155  Other / Off-topic / Re: Boston Marathon Explosions on: April 16, 2013, 10:40:26 PM
It was available on Silk Road's armory section not too long ago, before that was taken down.

"Breaking news: Terrorist-operated Bitcoin currency behind the Boston attack."

Attacker is suspected to be Satoshi Nakamoto of Bitcoin fame!

Satoshi bought explosives from Silk Road!

Etc etc.

156  Bitcoin / Bitcoin Discussion / Re: Why any ordinary person would be interested in Bitcoins? on: April 16, 2013, 08:30:57 PM
I think Bitcoin is becoming too "serious" for the average person. The "fun" aspect of Bitcoin hasn't been really captured yet.
157  Economy / Economics / Re: the silver talk from uncle fester on: April 16, 2013, 07:24:34 PM
Guy's a moron. He once said you can "jump" over and "under" encryption.
158  Economy / Speculation / Re: DOWN DOWn down is the new up uP UP! on: April 16, 2013, 06:35:19 PM
I LOL'ed
159  Economy / Economics / Re: My bank account's got robbed by European Commission. Over 700k is lost. on: April 16, 2013, 06:32:43 PM
160  Bitcoin / Press / 2013-04-15 RT - Keiser Report: Magic of Bitcoin Gathering on: April 16, 2013, 04:34:33 PM
Awesome report. Max talks about GOX, "Bimbo" Krugman, future exchanges, and etc.

http://www.youtube.com/watch?v=IbSOHwCOnG0
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