Greed has run rampant and people have lost site of open source software philosophy.

Sometimes I like to daydream about a bitcoin community with the same altruistic motivation as satoshi himself, maybe we would have a philosophy sub-forum to discuss these ideas.



I believe the philosophical basis is the most important asset to bitcoin success. When i introduce bitcoin to people , one of the things that really blows their minds is the realization that the philosophy of computer currency goes back 60 years, it just took a certain level of technology to implement it. From my experience, the philosophical basis of crypto currency gives bitcoin great value.


I think its about time we had a philosophy of  open source software sub-forum, where we could all at least remind each other about the strong philosophy on which bitcoin is built. If we had such a place to discuss ideas, we wouldn't be complaining about no one building the infrastructure, we would be building the philosophy for which the infrastructure could be built, something we still don't have to this day.

thanks.

Greed has run rampant and people have lost site of open source software philosophy.

Sometimes I like to daydream about a Bitcoin community with the same altruistic motivation as Satoshi himself. Maybe we would have an actively monitored philosophy sub-forum instead of one devoted to speculation. Maybe then we could begin to discuss the altruistic motivations behind Satoshi Nakamoto some of the greatest geniuses in the world, without being attacked by an organized FUD racket.



thanks.

Why does VISA conduct a majority of credit card transactions? Its the network effect, bitcoin was the first  to market. Regardless just replace the word "bitcoin" with cryptocurrency. I could have just as easily made those calculations with the statistics for cryptocurrencies as a whole.

I was thinking it could be interesting if someone made a calculation for bitcoin price based on full realization of Joel Monegro's vision of The Blockchain Application Stack.

Here's the article: http://www.coindesk.com/blockchain-application-stack/

If today's top internet companies of today used bitcoin as a their sole means of payment and monetization, ignoring the potential for bitcoin to disrupt financial industry, what would the market capitalization of bitcoin be?

Adding up the market caps shown here: http://www.statista.com/statistics/209331/largest-us-internet-companies-by-market-cap/ we get a total marketcap of 1016.62 billions.

1,101.6 billion usd/ 13,564,150 million bitcoins in circulation as of today = 81214.0827107 per 1 btc denominated in usd.

That means each bitcoin would be worth 81,214.0827107 per 1 btc if just the top ten internet companies used bitcoins as their store of wealth.

As full disruption of the world is realized and decentralized companies become the basis of the post-snowden web we have no clue what the future web would even look like let alone the value of 1 bitcoin. Calculating bitcoin price in 10 years is impossible considering full disruption would entail a world where bitcoin is the reserve currency. In that world we would need a different metric for measuring the value of 1 bitcoin. Something like the utility of that 1 bitcoin.

Maybe a better question would be: considering full world disruption is attained and moores law still applies, how much processing power will 1 bitcoin bring in ten years?

This is the post snowden web, if you have vision, follow it.

Maybe satoshi thought it would be funny to make a bunch of nerds rich. Regardless, We have all the opportunity in the world right now.

Johnston's law says, "If it can be decentralized, it will."

That means everything. That means we have the power to be whatever we want. If you wanna be a politician, start designing voting protocols. If you wanna run a hedge fund and play the global markets, start learning trading bot programming. If you wanna be an economic policy framer, start designing coin distribution protocols. Bitcoin was just the proof of concept, "if it can be decentralized, it will."

You have 2-5 years to choose your fate.

At least youre still rich in opportunity. Just hang in there, save all of your value in btc and you will be rewarded greatly.

I run a business that deals mostly in the internet, so most of my money gets middle manned by paypal and other payment processors. At the moment about 20percent of my users pay in btc, so i can easily see a future in which all online payments are conducted in bitcoin. I can understand why you cant see the potential of bitcoin if you dont conduct business on the internet.

He made Bitcoin so you could escape enslavement by the financial system. Satoshi gave you life, he gave you the power to control your destiny!

It's easy to lose sight of the real purpose of Bitcoin during these bearish times. I felt the need to give that reminder.

Its not like the project even promises that much. How is it different than facebook? All you get is a tiny bit of the advertising profits, right?

ello.co is a social network that just came out and they dont advertised at all. Now, if only they were decentralized.

p.s. Im not affiliated at all with ello, hit me up for beta invites.

Hey guys, Im not in anyway affiliated with ello just that id really like to see it take off, so im gonna hand out invites to anyone thats interested.

My first impression of the place: No Ads. They literally have no ads and the UI is just clean as can be.

I hope this place really takes off, its just so much more pleasing on the eye than facebook or twitter.

Pm me for invite codes.

https://ello.co/beta-public-profiles

I wonder what kinda business model they have, though ive been entertaining the idea of asking them if they would ever want to decrentralize and go transparent. Do you think they would?

Whats your first impression of the place?

I was referring to something like supernetwork and blocknet. Has anyone from the financial sector contacted you about high frequency trading?

finally found an example of what i was talking about

Is this the reason every coin released last month had some kind of anonsend integration?

With the main feature closed source, was Dark Coin relevant in the first place? Do the ten other coin mixers make Dark Coin irrelevant?

Hey bitfreak, this coin is extremely interesting, so I wanted to ask to some questions about you and the coin. First off with the rise of the internet of coins schemes you cant help but think about coins in those terms, I think cryptonite could be very valuable especially for an internet of coins network. I really think XCN has a perfect spot as a fast transfer, possible HFT role and it seems like it was purposeful. XCN goes against the current landscape of coins in that while everyone is working on a swiss army knife approach where their coin does 10-15 things all half completed you went a different route and built a coin that had one brilliant feature and it works really well.

What was your longterm vision for XCN?

Did you build XCN to fit into an internet of coins scheme?

Its like the first 2 month span with a consistent drop in price and people(^) are freaking out.

Ya thats a good point, Cyprus had a definite correlation with btc price. Its also one of the only world events you can positively correlate with btc price.

Im convinced mass adoption will happen through financial disruption. Rather than some kind of killer application, its penetration into finance is what we should hope for. Considering bitcoin was born from the ashes of the 2007/2008 financial crises, we need something big to shake the financial world, something like the collapse of USD and the imperial system. We need people in finance to look at bitcoin and not gold as the hedge against bad times.

What do you think will trigger mass adoption?

Heres a good video on gold price suppression and how America will be ground zero for the collapse of the dollar:

http://www.runtogold.com/2005/08/robert-landis-at-goldrush-21-with-gata/

I didnt get a screen shot but ill keep refreshing the page to see if it comes up again.
This is where i found it:
http://lwn.net/Articles/414452/