to be honest, i still think the letter is too waffly.

do you think mastercard talk about dollars with paragraphs describing the cotton paper and patented ink. or the method of joining the chip to the plastic card, or the database link of the accounts.

i think there needs to be less waffle about the decentralised protocols and more about the:
no chargeback
pennies(3c) vs quarters(30c) fee's
hoarding for future gains

basically the practical stuff, not the protocol stuff.. after all if your pushing for coinbase/bitpay. the protocol and security is meaningless to a merchant as its all automated by a third party. all the merchant and customer see's is a QR code.

they dont see or know of the 'ledger' or the encryption stuff, they dont see it as being decentralised, as all their trades go through one company.. not random people.

(sorry for the backwar and forward thinking from post to post. but i tailor my sales pitches to each individual business and the more i read your letter pretending im busines xyz, abc efg etc in different scenarios, the more questions rather than answers i see them come up with)

so you want to invest 1.3btc (~$800)

at current difficulty it SAYS you break even at 89 days (3 months) yet the amount of difficulty jumps between now and then means it will take longer than 3 months just to get 1.3btc back

now in that .. well lets be honest, 6 months (if you include difficulty jumps) doge coin can move from 35sat to under 30sat.. thats a 10% drop. so that's even longer youwould have to mine for to break even..

now the power is nearly 1kw/h.
going by your screenshot. that is $2.40 a day
now lets bring back the 6 months of mining to break even (after including difficulty jumps)
lets call it $432 electric.

so now your cashing out your bitcoin to pay your electric.

hmmmmmmmmmmmmmmm sounds too risky

how about, buy 1.3btc. and put it on an exchange, there are many coins that have a low price. take dogecoin for instance. 35sat each.
if you bought at 35 and sold at 36. (2% change after fee's). and done this once a day. you would make more money faster. and your electric bill wont be $432 higher which means you dont have to cash out to FIAT.

dont aim to try getting massive 10% up/down on exchanges. just aim for small 1%-2% regular profits, which if you do just one trade of 35-36sat ach day (2%) after 6 months that is OVER 300%

put simply mining is for the fools that like to shoot themselves in the foot purely for a small fiat profit. you will be smarter to just make small profits daily by trading rather then risking it all through mining.

there are already 400+ coins out there.. all worth 1 satoshi each

so go pick one at random, buy then all up and rename it btcindia, to then redistribute.

no point making a new coin

there will be no center.

keep it decentralized guys where every town is bitcoin friendly, why are people so obsessed with making bitcoin concentration camps.. it truly bewilders me

seems most would rather sit in basements and then run to a concentration camp, rather than write a letter or mail to their local politician to become bitcoin friendly..

oh well it seems you have fallen off the path. so let me lead you back
https://twitter.com/NickSzabo4/status/485970285254815745

i dont want the btc, so donate it to seans outpost or keep it..

but you think there are less than 3k nodes in usa... really?
but you think there are less than 440 nodes in UK... really?

yet.. there are 3million unique IP addresses of nodes
https://blockchain.info/ip-log

the numbers in that article are not world wide coverage of all nodes, but the nodes connected to the node that the article is from.. which is only part of it. thus the numbers are incomplete and not in context.

you do realise that there are more miners in places like canada and the ntherlands then there are in america.

but it seems you prefer to be spoon fed information and beleive it on face value.. but i think you should not believe what is wrote down, but to do some research..

so goodluck and stop simply believing what is wrote like a sheeple, learn something knew each day that has not been spoon fed to you. it keeps the brain cells active.

oh and by the way, im in the UK and my node is not listed in the source from the OP's article.. so i know the numbers are just wrong

the bitcoin creator is not Dorian satoshi nakamoto..

the bitcoin creator we simply refer to as 'satoshi'

as for Nick Szabo.........
nick is american taught, and although they were on the same thought process, where nick got maybe 90%+ of the concept, but it was satoshi (different entity) who with other people on the p2p and tech forums finally knit picked the in's and outs of a concept which satoshi (single entity) made into a finalised and workable white paper,
imagine it like a group of people that wanted to solve world hunger some said supplying seeds, some said teach them to fish. but it was satoshi that ultimately came up with the plan to make a farming school that taught and supplied everything to get people started.

it was then satoshi, hal finney and a few others that grouped together to help make  the first versions of bitcoin and slowly more people helped satoshi (the single entity) such as gavin andressen jeff garzik and the other motly crew of devs.

now then.............
satoshi (the single entity) was not a group of people using one name. satoshi was just one person, although others helped under their own names..
satoshis education was british based not american, and although he knew alot of things he didnt know much about linux and that stuff. so satoshi was no Uber god.

all of this stuff can easily be found if people actually looked at the posts by him and not just spread fud and opinion over 500 threads.
atleast read his under 600 posts https://bitcointalk.org/index.php?action=profile;u=3 to learn a bit about how he talked and what he knew or didnt know, and how he interacted with people.

these FUD threads are a little annoying now

sorry to say this but those numbers are just sooo wrong

il leave the OP to research why..

.. seems im reading alot of FUD and speculation today... must be a quiet day that people are getting bored and just making things up

first paragraph... ummm no
the security of bitcoin has nothing to do with price(FIAT/legal tender value of a coin) manipulation, but irradicates balance / personal holdings (amount of bitcoin) manipulation

second paragraph

firstly i replaced dollars as i was thinking of making the letter more international so it can be usedin the UK or urope without editing. i though using FIAt was a weird word so chose legal tender.. bt now reading it back, maybe either go with dollar or use the words national currency. as the words 'legal tender' may make people think that bitcoins are not 'legal' and open up a floodgate of questioning about if bitcoin is illegal to use. (laymans thinking)

my previous post was saying basically, you can either do it manually yourself using localbitcoins and sell back to dollar/national currency when you like, or just hoard.... or you can automate it using coinbase/bitpay and take the manual effort and price volitility out of the equation for a subscription/small fee.

but it seems like your trying to push them the coinbase/bitpay route without showing all options.. which is kind of leading the customer down a narrow path.

third paragraph

bitpay/coinbase do have fee's though. so becareful not to promise things that are untrue

nope its not.

the FUD about how many coins he got is based on people adding together all the different addresses of the coins from january 2009 forward for a few months.. but im sad to say that satoshi, hal finney, and a few other notable names all were mining at the same time. it was not just satoshi by himself.
by christmas 2009 theres were DOZENS of people mining, not just 5, i only used 5 in last post as a random number, but there were alot more.. so they were all sharing the rewards out, meaning its impossible for satoshi to have anywhere close to 900k - 1mil coins. sorry but that bubble of fud had to burst

so lets just break down 2 years of mining. (5.25mill coins.)
1year=2.625

so lets say there were 10 people mining bitcoin version 0.1 for the first month-to a year
satoshi gets 262,500 coins
lets say by december 2010 there were 3000+ people (oh look theres a user registration number to prove the number of users went that high at the time https://bitcointalk.org/index.php?action=profile;u=3027)
so knowing there was 2.6 mill coins generated in that year and upto 3k users in the bitcoin ecosystem.. equates to less then 1000 coins

obviously 2010-2011 more users and the year satoshi vanishes. again less than 1000 coins.,

bringing the more realisti total to be under 300k..

but lets pretend that for 3 years (2009-2011) there were only 10 people.. yea lets play that exaggeration game even though the link proves there were thousands of users as of 2011..

but 10 people would only equal 787500 coins he would have over the 3 years.. not 900k, not 1 million.. but like i said that me exaggerating the low populations.. where as the reality puts satoshi to hoard AT MOST 300k coins..

firstly satoshi does not own 1mill coins. sorry but just no..

between 2009-2011 5 mill coins were produced. and trust me there were more then 5 people mining.. do the maths

secondly lets say satoshi had 500k coins instead (again exaggerated but lets roll with it) would require each coin to be worth $2m each.. or if we use the FUD amount of a 1million coin hoard, it would be $1mill a coin for him to be a trillionaire..

so i dont think so..

i do love it when pople dont think before they make topics like this.. its soo easy to rebuttle the solution and move on with our lives

people of the fiat land obsessively complaining about the fiat price of bitcoin, will you please calm your asses down

do some logic theory, some psychologic theory, some economic theory before trying to shout out panicy posts

then realise that if someone buys bitcoin at $600, and the price of bitcoin moved down to $590, bitcoin holders wont sell unless they are dumb.

so even if the price moved down to $580, $570 no matter how tempting a PC or stick of ram is on amazon or dell. people WONT spend their bitcoin at a loss. but would spend FIAT.

the only time they would spend bitcoin is if they are in profit. so the price rise of bitcoin would or could see a drop (correction). also note that
it takes 10k btc to drop the price $200 so now adding to this fact that bitcoin wont tank due to smart hoarders, you also have to realise that not every hoarder will buy a product within the same 10 minute - 1 hour time window as 10,000 other people, to cause a price drop equivelent to $200

so calm down

until there is a bitcoin population (meaning price rise) to get to a point where average hoarders would be buying stuff from the major sites in their hundreds er hour. there is nothing to worry about. as the population growth and price would counter any secondary drops later on

keeps crashing?

ok its july now
july 2009 - $0.002
july 2010 - $0.08
july 2011 - $6
july 2012 - $6
july 2013 - $120
july 2014 - $590

will th fiat lovers please stop watching the prices every 10 minutes and stop treating every movement as a need to scream and bitch on the forums..

have patience!!

satoshi's account WAS NOT controlled by a group of people.. will you all please atleast do the god damn research by atleast searching for his posts.. they are well documented.

why oh why are there hundreds of threads on this very topic, yet people are still trying to spout out incorrect theories without any sign of actual investigation

pirate@40 "paid everyone" for over a year
mark karpeles "paid everyone" for a year

look at them now..

and your defense of saying you have not scammed anyone, should end with the word 'yet'.

its like asking for a gun because you want to shoot someone. then saying but lots of people shoot people, lots of people have guns. and that as of today you have not shot anyone..

well thats no reason to now give you a gun.

think about it, you got scammed out of bitcoins, so can you atleast see the objective of us trying to avoid people scamming others.

in my eyes preventions is better then cure

bitcoin is not fading away. its just those moaning were hoping for a 2000% rise in 3 months. and now their getting bored waiting.. these people are not bitcoiners, they are fiat lovers waiting to get back to fiat.

they are not researching that the tax offices of multiple countries is declaring bitcoins a legal asset
they are not researching that US government has said its like gold
they are not researching that multiple international companies are accepting bitcoin
they are not researching that hundreds of thousands of smaller businesses are accepting bitcoin
they are not researching ......... the list goes on and on

they are just peeing their pants that bitcoin has dropped this month 10%.. yet from march onwards it has risen 50%..
now i see why the FIAT market asks its market traders to sit an exam. because sometimes proving you know something actually helps you use it properly.

firstly be professional. but dont be 'geeky'

DO NOT EVER use the term

"bitcoin is a decentralised cryptographically secured account ledger"

keep it simple and laymans

"bitcoin is protected by encryption and dispursed throughout the world to ensure no single entity can manipulate or control it

or the short version

"bitcoin is so secure and so spread out, even hackers cant break it"

material backing.. formally known as tangiable or intrinsic are 'hype' words of the commodities market.

i am truly sorry that you are only versed in the commodities market. but WE bitcoiners are in the ASSET market.

digital property such as music, intellectual property, art, movies. have no 'physical' backing. but all hold value. these are all assets.

i wil now leave you to learn the differences of assets and commodities

have a nice day

nah the man of sin is joseph, he got mary pregnant then forced her to say it was god, because he would get stoned to death if he admitted getting an unmarried women pregnant. and god is the best scapegoat.. try proving it wasnt god

nah the man of sin was adam and eves cousins... incest

nah the man of sin was adam, due to the rib, eve shares the same genes, making her his twin sister.. incest

now as for bitcoin, bitcoin is not a sin and creating it is not a bad thing

now lets end the bible debate by revealing the spoiler to the book..

.. he dies in the end after a plot twist of faking his own death days earlier

.. moving on

we know that you dont understand bitcoin, and have no intention to learn bitcoin.

making that "script" is easy, but you want the easy life and the fastest way to scam people

so for those 2 reasons we dont deem you as a bitcoiner, thus you can see the lack of support you are getting..

can you understand that?