Greece is suffering heavily under the current EMU system, no doubt they will seek other monetary solutions. However they might want to issue their own cryptocurrency and premine 90% to finance their government spending 

Banks are like exchanges, they would like everyone to play the game on their platform, like MTGOX, all the moneys and coins are inside their platfrom, even if they lost all your coins, as long as you play in their platform, it does not matter, since you are not playing with real money/bitcoin

Yes, it is a second currency in its essential. If this happens, it opened a new era of multiple parallel currency, which directly break the monopole situation of Euro

Then people will also adopt other currencies like bitcoin, it is worldwide accepted, unlike some local currency that only Greek government accept. And once it is accepted in Greece, it will have the first country backing it with its full economy, and other countries will follow

Technically, this slavery is self-imposed. If people can live without using fiat currency, then there will be no slavery. But it seems they'd rather have a unit of value and become the slave instead. In fact the slavery also comes from the fact that they are desperately dependent on the banks, so when banks failed, all their deposits will be gone, so banks must be bailed out

In a planned economy system like Soviet Union, the resources are allocated to each person equally without the need for money, thus this kind of slavery is not possible. But you have other kind of slavery from the communist governors, and you really don't know how much of your work went to the government, since most of your income are not salary but equally allocated food/residence/cloth. However, under such a system there is no motivation to improve, you get equally allocated resources no matter how hard you work

Is it possible to have a type of money without being enslaved?

To avoid slavery, this money must be created by a cost close to its face value, but then you have to keep the cost at a constant level to use this money as a universal standard of value. Since the productivity is always increasing, the cost tends to go down over time, to compensate for that, the supply should also shrink over time. From this point of view, the bitcoin design is on the right track

Cloud mining contract  

GAW Miners Paybase Paycoin unofficial uncensored discussion.ALWAYS MAKE MONEY

There is a big difference between internet and bitcoin:

When using internet, people don't risk too much, they gain a lot of convenience typically. But when using bitcoin, they risk losing large amount of money while their gain is quite uncertain. So far only very experienced investors/speculators have adopted since they have good risk management skill, those who blindly follow will get hurt by volatility and theft

Not when mining is barely make up the electricity

It seems the daily 3600 coins mined are not a big deal, but 10 days will be 36000 coins, and 100 days will be 360K coins, it will affect market slowly but surely. When they are extremely profitable, most of them will be dumped right away, but now when they can even be underwater, these coins will be hoarded, thus dramatically reduce the daily coin supply on market

And the difficulty is on the rise, means the infrastructure investment has not stopped

http://www.marketwatch.com/story/this-unorthodox-plan-may-keep-greece-in-the-eurozone-2015-04-08

To create the fiscal flexibility that Greece’s economy so sorely needs to reinvigorate economic growth, meet its debt payments and, ultimately, stay in the eurozone, the Greek government could adopt what economists at the Levy Institute call a “parallel financial system” that would allow the government to make payments without using hard currency.

Simply stated, this would be an IOU.

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As Greece appears to be hurtling toward insolvency, and an exit from the eurozone is back on the table, here’s how the IOU plan — which would allow Greece to increase government spending without further burdening itself with interest-accruing debt — might work.

According to Robert Parenteau, a research associate at the Levy Economist Institute of Bard College who wrote a blog post advocating the IOUs — or “tax anticipation notes,” as he termed them — they would have a few defining characteristics:

-    The IOUs would have an interest rate of zero.
-    They would be perpetual bonds with no date of maturity that would require the Greek government to repay the principal.
-    They would be transferable — just like bearer bonds.
-    Holders of the bonds could use them to pay taxes, with an accepted value of parity with the euro.

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Greek officials have definitely considered the plan. In a blog post from February 2014, Greek Economist Yanis Varoufakis, now Greece’s finance minister, wrote a blog post describing a bitcoin-like alternative currency that would be backed by future taxes.

People want money because it can buy anything, so universal acceptance should be a must property for money. In this regards, bitcoin is still not enough "money" yet

And currency is used only domestically, closely tied to government, so bitcoin is clearly not currency

However, it can do something that both money and currency can not do: Transfer value around the world anonymously and instantly, thus make the existing international bank settlement network redundant

It is a value teleportation vehicle

IMO, the changes should not be on the protocol, but on the team that write the core nodes. In fact, only a few of core devs control the git hub, this means if these people are compromised, then the whole bitcoin project is down. They must get enough protection

Gavin also said that it is difficult to reach consensus between core devs. Since the decision of a protocol change is seldom a technical but a political one, they really need some kind of transparent decision making mechanism

In fact, infrastructure wise the bitcoin has many area to improve to become a truly trusted world currency, there are so many uncertainties in its security model. Today, people just download a software and pray for the rest part, but when a retirement fund wants to put billions of dollar in this currency for 20 years, the bitcoin network is still not enough robust in many aspects. The risk of ruin is still larger than our financial system today

Large movement on bitfinex, now manipulator moved to there and dumped 8000 coins

The interesting thing is: As long as people unconsciously use domestic currency to measure value, there will not be inflation. Inflation does not rise following more money supply, more money supply will just make people work more and produce more. This is because in today's society, productivity is almost unlimited, only demand limit the production. When demand was artificially raised by the banks, the production will immediately increase to a point that even more goods than demanded are produced

Imagine that an enterprise suddenly received a large order from government/banks, he would happily expand his production and hire more people to produce more. It is very unlikely that he would keep his production scale and raise the price instead. And if he really did, the order would just fly to someone else. Unless all the merchant in the branch raise the price at the same time, they usually accept the order without change the price, in reality they even give discount to large orders

The only thing's price that can rise quickly are those with limited supply, like land. But anything with limited supply is usually regarded as asset thus not included in inflation statistics

Each country's citizen regard their own currency to be the standard of value. This is a habit they learned from their childhood. When EURUSD exchange rate drops, Germans will think that USD's value increased, while US people will think that Euro depreciated. The price level domestically normally won't change following the exchange rate change, but it will cause a profit/loss for enterprises doing international trades

I think this is because that when people are seeking authority's support, they normally won't go beyond the boarder. A foreign corrency is just too "unauthorized" for them, thus not suitable to measure value domestically

This is very centralized way of thinking, people unconsciously require a central authority to provide them with the unit of value. Could we find a better standard?

As long as people still use fiat money to measure value, bitcoin will remain as some kind of speculative asset

The horrible scenario is: One day you wake up and find out that your coins are gone  

Then you will panic and start to check the security of each step of your operation

It basically falls into two categories:
1. The key generation was not secure
2. The key was stolen

The generation part is most difficult to defend, since there is no easy way to guarantee the true randomness of the key. Even if you have a true random key generated by dice casting, you could still become the victim if the conversion software intentionally provide you a key that software author makes

This concern even applies to hardware wallet, which is even less transparent than those webpages

So, in order to make sure every step is secure, either you rely on some authority (which against the "trust nobody" spirit of bitcoin), or you must be able to review the code that does the actual key generation and conversion. That's why many people dare not to put serious money in bitcoin unless they are good at code review

Maybe bitcoin foundation can act as an authorized code reviewer and publish the certified software and hardware

1. 99 dice cast gives you a perfect private key, base 6

2. The difficulty lies in how to review the code that transform this key into WIF format and address

3. If the above can be ensured, signing offline tx will do the spending part

Banning the cash will make all the money flow totally contained inside the banking network, thus everyone will be playing the fiat money game on this giant MTGOX, no real transaction will ever happen, all are numbers in bank's database

The only alternative is bitcoin. It will be interesting to see the result

Money's value has an tendency to be regarded as a constant when people use fiat money as a unit of value

This should be called "The dependency for standard"

When you use a failed scale to measure the weight of your suitcase, you will accept whatever the reading the scale give you, since normally that scale is the only standard of weight that you have. Unless you have another scale to compare their result, you won't notice that the scale failed. In fact, even if you have another scale, you still won't know which scale failed

Similarly, if you compare USD and Euro, you can't tell if Euro's value is dropping or USD's value is rising, or both of them are rising/dropping at different speed

In a commercial based society, people need such a standard unit of value to do business. Because everything's value fluctuates, they turn to authorities to seek the required standard. However, authorities also have no idea what is the standard unit of value, but since people demand it, they invented fiat money to satisfy that need. In turn, they discoverd that this price stability usually holds by itself because people think that standard is from an authority. So as long as they maintain authoritative, they could print themselves lots of fiat money while still satisfy this need of price stability...And when they measure price level, they only need to exclude the price of those things that they buy, e.g. capital goods and debts

Buy and hold, the best strategy beats everything else in fiat world (because of inflation), and it is even better in bitcoin world (fiat super inflation against bitcoin)

It is possible when 1 satoshi worth $1, I will donate 1 bitcoin for poor guys  

Today's world poverty is largely due to the fact that banks must keep majority of people poor to make their money valuable (If everyone is getting 1 million dollar per month then there will be super inflation like Zimbabwe and fiat money will be destroyed). And in order to keep majority of people poor, banks must keep most of the money at their hand, and buying lots of debt to raise the living cost of majority of people constantly. That will increase the wealth gap and put more and more people in poverty

With bitcoin, loaning is much more difficult, people will start to save, and since no one can act like a slave master (central bank), all the existing model will change. Maybe it will not end world poverty immediately, but it definitely can give everyone a fair play ground, so many people have chance to get rid of poverty. With today's fiat money system, it is no way to get rid of the trend of increasing poverty, since it is by design