Well there is an vulnerability with USB drives as we have found out and disc only have a lifespan of about ten years. Although I saw something today that might just be the best for digital storage of a wallet. mdisc http://www.mdisc.com/ 1000 year rated dvd's where the files are written to "stone" and it will play in most drives where as the blue ray disc will play in all, better yet they aren't that expensive. They are more durable then regular disc and can take a beating but just still can't be bent in half without snapping, there isn't much more you can ask for in a long term disc. This seems to be perfect for people wanting to people their wallet data or private keys on a disc. A private key is 256bits long. You don't need 25GBytes of storage to store it. A sheet of paper and a pen are all you need. Sheets of paper deteriate and are easily vulnerable to the elements, these are a bit more resilient and this is a way to digitally back up any of your bitcoin needs. Emboss the 256bit number on a strip of stainless steel using a tapewriter. End of Problem. No need for computer or digital storage for a simple 64 place hexadecimal number. Lip tattoo the QR-code, prison-style  |
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Bitcoin and the blockchain are currently existing as just a section of the internet and there for a part can't be bigger than its whole. Myth. Bitcoin can be used without the internet. Paper wallets are one example, physical coins are another, sending bitcoin through SMS (dumb) phones is another, transmitting bitcoin via radio waves is yet another. Bitcoin can and will be bigger than the internet. Because money is far, far bigger than the internet. Not everyone on this planet is online, but everyone uses money. Your suggestion basically makes bitcoin more of a hassle to use than the thing you want it to replace(money ).Sure, almost everyone on Earth uses money but bitcoin isn't money, at least not in its current state and even less so in the diminished capacity that you describe. You're mistakenly assuming that bitcoin on the net and bitcoin offline are mutually exclusive. That is not the case. And bitcoin is not only money, it is the best form of money ever to exist. |
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Bitcoin and the blockchain are currently existing as just a section of the internet and there for a part can't be bigger than its whole. Myth. Bitcoin can be used without the internet. Paper wallets are one example, physical coins are another, sending bitcoin through SMS (dumb) phones is another, transmitting bitcoin via radio waves is yet another. Bitcoin can and will be bigger than the internet. Because money is far, far bigger than the internet. Not everyone on this planet is online, but everyone uses money. |
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What an outstanding talk, thanks for sharing this. I have a newfound respect for Erik Vorhees. |
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Yep, that was a great read! Thanks for sharing.
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I think the Bitcoin devs currently are colluding too much with the U.S government, it will certainly become a success, but it makes me wonder what kind of changes Gavin and his team are going to implement, once we start hearing about a fixed rate of inflation patch and stuff that will be when Bitcoin is doomed. ^ This person doesn't understand how bitcoin evolves. Spoiler: It's democratic by consensus or not at all. They cannot really implement any changes without the general consensus. This. It's no wonder the general public doesn't understand bitcoin, we've got hero members on our own forum who apparently don't understand it. The whole point of fees is to keep an incentive for miners to maintain the network, theoretically if we ever hit the maximum coins in our lifetime... We won't. Maximum coins will be reached in year 2140. |
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No mining incentive; no miners; no network security; no bitcoin.
OP doesn't understand how this technology works.
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Then why not make BitLicense completely optional? Because that would do nothing to protect the banksters' currency monopoly. You have to understand, they see bitcoin as a threat - as an enemy to be attacked, in much the same way the luddites saw the factories as an enemy. Legislation is their weapon of choice. |
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How and why fiat money is a violence-backed monopoly and scam run by legitimized con men.
And that Bitcoin is the first viable alternative in the history of this planet that is immune to violence because it is decentralized.
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Looks like specifically it is talking about goldcoin. What is this doing here in the bitcoin discussion thread
Excellent question, it appears to be thinly-disguused propaganda for Goldcoin posing as an article about the man. |
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Oh, my mistake. I had it all wrong, I will immediately pull my life savings from bitcoin. Now if you'd be so kind as to enlighten me, which scamcoin should i reinvest in, shill? Is it Goldcoin perhaps?
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Nobody cares dude. What were you expecting, righteous indignation and rage? Sorry, I reserve that for banksters and fiatslaves.
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no serious investors in for the long haul will buy into Bitcoin with the dangers of a 51% attack by the mining pools, the huge risk of Satoshi's 1million Bitcoin stash being hacked and/or sold, and the plague of negative attention on Bitcoin especially when it comes with it's own Foundation Members(Convicted felon Charlie Shrem, Accused Child Molestor Brock Pierce).
 FUD more please. I guess the current ~ 8 billion dollars invested were from "non-serious" investors like myself. However Bitcoin itself will fade away.
Yeah, just like HTTP did after we developed CSS and java.. oh wait.. |
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He's a good guy, I really like Patrick Byrne. But this crap... This writer can envision the day where Goldcoin (GLD) is the number one cryptocurrency around the globe
..made me chuckle. Altcoins will be a joke / "remember when..." story within 5 years. |
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What happens to the btc community if their infrastructure fails in a few years? What effect would that have?
It might create another price drop but bitcoin's reputation will not be affected. Bitcoin drops from 7,000 / coin to 5,500 per coin. A thousand trolls / noobs cry out, "OMG BITCOIN IS DOOMED, I TOLD YOU THIS WOULD HAPPEN!" |
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That would mean bitcoin at 74 by Jan 1st, 2013. Sounds quite possible.
So, what, like $500 by June, or something like that?  Not June silly, November!  Necrodigging is fun. $500 in November 2013 was such a funny joke back then, little did we know. Nice find! Great perspective for those who haven't figured out the pattern yet. All of this has happened before, all of it will happen again. |
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"Technical" analysis is so prevalent in all the bitcoin related communities that newbies may get the impression that the majority here is actually trading according to it. That is not the case!
Voodoo indicators (e.g. 3d Ronald McDonald Indicator, Random Squiggly Line Indicator, etc.) will not predict price movements! They do not guarantee successful trades! Don't fall for the deceptive words of the snake oil analysis high priests!
It's mostly just a bunch of esoteric shenanigans trying to make itself appear slightly less ridiculous by masquerading behind the term "technical". That one guy on r/bitcoinmarkets is at least honest and flat out admits that he trades according to astrological constellations. May I suggest some tea leaf reading instead? Or how about analysing the flight of the swallows? 100% trading success guaranteed, follow me on twitter and subscribe to my blog for only $29.99/month. I'll throw in a fancy feather crown for free!
 You nailed it, OP. |
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Digital currencies such as Bitcoin strengthen privacy and are resistant to censorship. We should consider this a feature, not a bug QFT. The BitLicense is basically a head-in-the-sand denial of the reality of what bitcoin is, what it represents, and how it is going to change our world. I am smelling the bitcoin price rising, don't you?I expect that bitcoin price should be around 600 bucks at the end of 2014.
 Speculation sub-forum is that way ---> |
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