Awwwwww! My husband bought a few bitcoins a couple of months ago, and now that he's seen his investment go up a lot, he doesn't want us to go to the party and giving up any bitcoins. He just wants us to hold onto as many bitcoins as we can. So you may be deprived of my stripperlicious booty  just sell your car  You mean my $850,000 Prius? I should spend a bitcoin to paint the thing yellow and stick a Lamboughini symbol on the hood  edit: btw, you are booked for good. no exit for you.... since you announced to strip our reservations were boosting up !
My backside is a curse  |
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MoonShadow may not have understood your premise exactly,
Rassah, I think you are well aware that I understood his premise at least as well as he thinks that he understood his premise. When you were arguing about the details of the AmazonWallet, it seemed you have missed that the wallets would ONLY connect to Amazon servers, and thus only broadcast all their transactions to Amazon's miners. You were arguing about how P2P works, but these wallets will obviously not be P2P. |
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if I have it right the maximum number of transactions btc network can handle is 7 per sec. coffee purchase and walmart trip has to go offchain eventually.
Only temporary limit while devs still work on improving the system. It's still in beta, and they don't want it to explode in use before its ready. Eventually, transaction limits will be removed, blockchain will be pruned, and the system will be able to handle way more transactions per second than VISA or anyone else (it can already handle such volume with current technology, but we don't want to force people to download 500MB blocks just yet ) |
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The wealthy will inherit the Earth!  Why inherit, when you can just buy it |
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Awwwwww! My husband bought a few bitcoins a couple of months ago, and now that he's seen his investment go up a lot, he doesn't want us to go to the party and giving up any bitcoins. He just wants us to hold onto as many bitcoins as we can. So you may be deprived of my stripperlicious booty |
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Sorry AnonyMint, but despite you having a 160 IQ, and being very intelligent and smart, and being able to see things in your mind and conceptualize better than anyone else here, based on what I have been reading here, I can still see things even above and wider beyond you, am still more intelligent than you. MoonShadow may not have understood your premise exactly, but you are still not grasping the offliine thing completely, as well as a few other things that have been discussed before. To me, it's as if you are able to see the entire clearing up to the trees, and are proclaiming yourself to the the total expert on this clearing you have just wandered into, while I can see the trees, the forests, and the oceans beyond So, let's see if I understand your proposed attack correctly: We start with a normal steady state, where miners are only competing on hashing power, all transactions are broadcast from privately owned clients, everyone, including miners, can hear all transactions, and block rewards are insignificantly small, with all mining rewards coming exclusively from minning fees. Amazon, a large corporation that may have reached the size and power of a cartel, steps in and creates their own custom AmazonWallet, which has the following features: - People can deposit and store their own bitcoins into the AmazonWallet
- Amazon allows people who use their AmazonWallet to shop on their website, possibly even giving them a discount for using their wallet
- AmazonWallet may or may not charge fees, and may charge zero fees as incentive to get people in
- Amazon owns and operates their own mining hardware, which may, for example, account for 20% of the total hashing power
- All transactions created by AmazonWallet are sent exclusively and directly to Amazon's provate mining farm, and never broadcast to the rest of the bitcoin network until Amazon's miners manage to include it in a block
- AmazonWallet still allows you to send bitcoins to any other outside wallet that doesn't belong to Amazon, but the transaction still has to go through, and be mined by, Amazon's private mining farms
- Amazon may choose to use their 20% of world's total mining capacity to mine only AmazonWallet's transactions, keeping all other transactions out of the blocks they mine
Do I have it right so far? Anything I missed or misunderstood? |
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[snip] How do you supposee that society will not allow that? Wow you really doubt the power of the government. I guess you forget who has the bigger guns. You are not anonymous in Bitcoin. They can attack with the tax agencies without bringing out the big guns. The big guns are the last resort. As the final resort, nuclear winter and the underground shelters the elite have built. Absolutely no way the elite will hand over the power over the creation of money. They will co-opt it peacefully or by as much violence as it requires. http://en.wikipedia.org/wiki/James_WarburgWarburg was a member of the Council on Foreign Relations. He gained some notice in a February 17, 1950, appearance before the U.S. Senate Committee on Foreign Relations in which he said, "We shall have world government, whether or not we like it. The question is only whether world government will be achieved by consent or by conquest." Oh! I thought by "society" you meant "society," as in the socialism-voting middle to lower class, not the wealthy elite who will likely be one of the first to move their money into bitcoin, and out of the reach of money-grubbing government. You know, the one that relies on its money-grubbing to pay for things like big guns and winter-causing nuclear weapons. Plus no amount of big guns or nukes can decrypt a password or a private key.  |
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Well... yes... but in my defence, it turned out that my initial gut instinct wasn't wrong |
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Well, the Bitcoin1000 screwballs have checked in. You are the kind of people who are making Bitcoin look ridiculous. You set up some kind of charity (I assume it was not properly registered as such so the whole operation is probably illegal). Then you set up a site filled with Bitcoin "wingnuts." Instead of assisting charities to accept Bitcoin you demand they change their web site to your specifications. Then the guy who "vets" these charities is a guy who runs around advocating braking into federal computer systems to steal the funds that were seized in the silk Road case. Do you explain to these charities who exactly will be vetting them?
Boooo! WTF. We have been around for over two years, with zero lost or stolen funds, and full 100% transparency. And that "change their website to your specifications thing"" is precicely "change their website to be able to accept bitcoin donations," which we actually help them do. And guess how much we make on this illegal ridiculous scam? Nada. Just our volunteer work. So booooooooo! Hisssssss! Shame on you! By the way, you keep saying that if an US bank transfers money from a US citizen, they have to follow so and so. But no bank actually does that. Money sent from US to EU are not transfered by EU exchanges, they are transfered by the US citizens from their US bank accounts to the EU exchanges. The EU exchanges could care less about the laws and regulations of whereverthef*ck the money they were sent came from. They didn't ask for it, and they didn't do the transfering. |
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Braindead payment service. I could code something better than Bitpay in 3 days or less, excluding the FX hedging.
Go ahead. I'm sure Tony would gladly pay you for it if it's actually better. |
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Another one from Frankie: Dear Emmy,
Please meet my friend Dmitry. We met in business school and he now runs a foundation that is looking for worthy nonprofits to donate to. He just donated $1,000 each to my friend Jessie's IBME and my friend Amy's Primate Education Network. I think he will really appreciate the mission of Bread for the City.
Dmitry's foundation is called BitCoin100. They arose out of the generosity of a few early adopters of an amazing currency called BitCoins (if you haven't heard of them, this might help) to promote the value of the currency for nonprofits: when donors make their donations in BitCoins, the recipient nonprofit keeps 100% (hence the name). None of the funds are lost to credit card or processing fees.
BitCoin100 donates $1,000 to selected nonprofits who agree to accept the currency on their donation page. You will be immediately able to convert the donation into USD. It doesn't take much work to get it set up, but I know the money would make a valuable difference at Bread for the City.
@Dmitry, Emmy is a smart, passionate friend of mine and former coworker of my wife Jess. She works as a fundraiser for a wonderful nonprofit in DC: Bread for the City is more than a soup kitchen, providing comprehensive services including medical care and legal services for DC's poor. Jess and I have been donating for years. They could do a lot of good with a $1,000 donation.
Good luck!
At this point I just reply to these, telling them a bit about what we do and asking them to let me know if they are interested, and move the e-mails into my Bitcoin100 folder. If they reply, things go forward. If they don't bother, I don't bother to pursue them either. |
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I was at a dysfunctional stoplight today, and I think it was a perfect example for my point with social order.
The lady next to me stopped before the intersection, waited for one group of cars from the other lane to move past the light, and proceeded to move before her turn. In this instance, she didn't play by the rules that everyone else did.. and you know what? She was rewarded for it, by saving time.
Anarchists believe government is to blame for everything, and in this case.. government is the car (a vessel for social order). But you know what? The problem was not the car, but the human being behind it. A common response I'd probably get to that is "well, if she didn't have the car, there wouldn't have been a problem. Anarchists always point to the variable, the car (government) and not the human being (the constant) behind it. If you were waiting in line at disneyland, would you say "if the person didn't have legs, there would be no cutting in line"?
One variable that is missing here in incentives. Build the incentives so that the first to break the rules wins, and you'll have the same situation as with that lady with her car. Build the incentives so that the first person to break the rules loses (like with Bitcoin protocol, or with negative costs added to breaking rules in real life), and people will behave. The trick is to figure out how to construct those incentives in an anarchy society. |
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(You should really go read some elementary set theory, your posts about them seems that you are unable to comprehend what the fuck is going on. This is in no way criticism, set theory is at some times really counter intuitive, and most have, like you, difficulty of understanding it.)
I kind of understand what this is about, where you can have a number in one set that doesn't exist in another set, and I do understand the concept, but that's really only applicable if you are trying to match your one set to the other mathematically. I can take one of your numbers from set B, which can't exist in set A, and say that I'm matching it with the number 1 from set A. In the end, I still have two sets where no matter how many number units I pick out of it, there will always be +1 unit left to pick out. So if I just look at infinity, and ignore mathematical relationships between sets, the ∞+1 of one set is really no different from the ∞ of the other set. Not because of what they contain, but because neither one has an end. |
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What I predict will eventually happen is we will see a separation into two financial instruments - 'coins' that are primarily a store of value (displacing gold); and coins that are primarily a medium of exchange (displacing the $).
This would only make sense (happen) if the medium of exchange coins somehow had less transaction friction than the store of value coins. That would mean the medium of exchange coin having more apps, hardware wallets, exchanges/liquidity, and merchants. If a store of value coin happens to have more of those, it will simply be easier to use it instead of the medium of exchange, regardless of what the coin's intentions were. Not if buying the Bitcoin requires impoverishing oneself and society into hyperinflation. You can't have this type of radical transfer of wealth to speculators. Society will never allow it. Bitcoin doesn't have feelings, and thus doesn't care if it is impoverishing anyone into anything. So if causing hyperinflation to other currencies is the end result of bitcoin's existence, people will just try to be the first ones on the bitcoin bandwaggon, instead of being the last ones left holding the fiat bag. How do you supposee that society will not allow that? Society can't tell who has how many bitcoins and it can't stop people from buying or exchanging bitcoins. Do you expect that people will stubbornly hold on to their bags of fiat out of sheer want to preserve their society? That will only work until some of those holders think "screw the rest of you" and start moving into BTC. In the end, you'll end up with the same scenario as above. |
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The prior two posts made me smile in spite of my 62+ ignores. At least my nose isn't brown. The ignore browning is the most inane, asinine feature of this otherwise excellent forum design. So with 10,000 members, one gets 62, i.e. 0.5% ignore rate then that is supposed to be meaninful? How about showing our non-ignore rate instead, i.e. 99.5%. Lack of browning should logically be embarrassing. It can be interpreted to mean one hasn't stuck their neck out at all. Played it ultra-safe, not written enough controversial statements to justify the wrath of the groupthink. Ultra-safe is not how you win big in this life. No risk, no cookies. Typically, people ignore you not for sticking your neck out, but for being a complete douchebag about it. Also, it's rather difficult to get 62 people to think you are so not worth their time, that they actually take the time to click the "Ignore" button instead of simply scrolling past your post. |
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I think the only "Bitards" here are the ones trying to use Localbitcoins with BitPay (which, depending on how it is being used, may be violating BitPay's TOS)
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And still no details. Nothing about how it will actually work, or how to transition to such a system By the way, do you know Peter Joseph personally? |
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Ironically, any offer of help sent to them takes about 2 weeks to 2 months to hear back from, too. With the follow-up questions taking another 2 months to acknowledge, it's rather difficult to be hired by them, too |
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What I predict will eventually happen is we will see a separation into two financial instruments - 'coins' that are primarily a store of value (displacing gold); and coins that are primarily a medium of exchange (displacing the $).
This would only make sense (happen) if the medium of exchange coins somehow had less transaction friction than the store of value coins. That would mean the medium of exchange coin having more apps, hardware wallets, exchanges/liquidity, and merchants. If a store of value coin happens to have more of those, it will simply be easier to use it instead of the medium of exchange, regardless of what the coin's intentions were. |
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Also Bitcoin appears to be broken already. Sending medium size (e.g. $50) transactions from localbitcoins to Bitpay invoice is not working.
Did you know it's against BitPay TOS to use their service as your own personal bitcoin exchange? Plus, I thought you didn't have any bitcoins,so how did you see that issue? Also, I have sent at least 6 transactions with zero fees in the last 3 days with no issues. All confirmed just fine. |
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