1. Miners are all ready "separate". If we were to do things democratically, miners would be the only ones to get votes.
2. Bitcoin isn't a democracy. If you don't like Bitcoin as it is, start your own network. If the Bitcoin network starts stacking the deck to reverse transactions or freeze accounts, it's not Bitcoin, regardless of what we call it. The currency as the whitepaper describes it is Bitcoin.
Call it what you want. The whitepaper is a starting point. The goal is to improve upon what it described. Democratic principles will prevail regardless, whether it be with this coin or another. I hardly call setting up payment blockades (like Visa and Mastercard) an "improvement". I could care less if someone stole 20.5M Bitcoins, we aren't fucking with other people's transactions or balances. |
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The blockchain is already 15 GiB. Bitcoin can't replace credit cards if we don't solve this problem.
can't this be worked around by third party applications ? for example multibit. Also services like bitpay etc seem to provide quick integration for merchants, without them having to worry about the size of the blockchain. This solves the issue for end users, but exchanges, processors, miners, and power users will always need the blockchain. |
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The current "ATMs" that work more like exchanges or two-way vending machines are better in my opinion. Why would you want to pay for a service where you let a major target that's always connected to the internet hold on to your bitcoins instead of you?
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Absolutely not. This is the kind of bullshit Bitcoin was designed to prevent. I've personally lost thousands of dollars due to stupid mistakes, just like Mt. Gox users, but I would be mortified if someone suggested that we override history to get those coins back.
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Have you ever bought something at a brick-and-mortar store and paid with Bitcoin, used a Bitcoin ATM, or made any other real-life Bitcoin transaction? Please share your experiences here.
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The overweight green giant got sick of gathering magical cards, so, being the cheapskate he is, he decided to use his existing domain for something else.
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It's like the North Korean ballot.
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The 51% "attack" is a vote, not an attackIt light of many recent, high value bitcoin thefts the Bitcoin community has been discussing freezing stolen coins. (See for example the discussion that generated this one, https://bitcointalk.org/index.php?topic=508971 ) Many are opposed to it because they see it as regulation. But the regulation does not have to come from a judge or one so-called authoritative entity. It can come from the votes of the community, i.e. miners. And this is the way it should be. I call on the developers of Bitcoin to place a priority on providing to the community and miners a simpler interface through which the miners may freeze particular coins. The pools that show a high regard for democratic principles will lead the way to a more respected currency. 1. Miners are all ready "separate". If we were to do things democratically, miners would be the only ones to get votes. 2. Bitcoin isn't a democracy. If you don't like Bitcoin as it is, start your own network. If the Bitcoin network starts stacking the deck to reverse transactions or freeze accounts, it's not Bitcoin, regardless of what we call it. The currency as the whitepaper describes it is Bitcoin. |
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I don't think you fully understand how large 2^256 is:
[imgremoved]http://miguelmoreno.net/wp-content/uploads/2013/05/fYFBsqp.jpg[/imgremoved]
"B-but it's only got 4 digits, it can't be that big!" |
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No way this would happen. Too inconvenient for their users, too much work to develop, no real benefit for them.
If they did, though, it would certainly be:
a) centralized, or
b) closed-source and backdoored to start a miner botnet
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Hello!
This is just for educational purposes. We know that Satoshi has an enormous amount of bitcoins and that he has not moved them for a long time. I think we also know the bitcoin addresses containing those bitcoins.
What if someone wanted to steal those bitcoins? They would need both the public key and private key of the address. I know that it would take an enormous amount of time but is this technically doable?
Also, would mining pools be able to push to their clients a script to find those public and private keys? These pools have nowadays an enormous calculation power.
Good luck. If I recall correctly, there are more possible private keys than atoms on earth. If everyone on Earth had a copy of the world's most powerful supercomputer for free, and they were all trying to crack the same address 24/7 with their supercomputer, it would still take too long for anyone who started the process to ever live to see the address be cracked. |
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Total time logged in: 4 days, 19 hours and 20 minutes.
Feels like longer :/
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Why would it increase the value of the other coins in circulation ?
I'm no economist, so correct me if I'm wrong, but here's my understanding: The Bitcoin economy has a certain market cap. The market cap divided by the number of coins is the price of a coin. Get rid of a large number of coins, the price per coin goes up. This could also have the effect of lowering the market cap, but there would still be a net gain per coin. |
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Title and question say it all. My vote is for "loudly destroy them" because it would notably increase the value of the other coins in circulation.
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I think Litecoin has a real chance of beating Bitcoin, or at least being a popular alternative once Bitcoin is mainstream. Litecoin would be my "Romney" (not great, but has an actual chance of beating Obama - a compromise).
Zerocoin and Darkcoin have little to no chance of surpassing Bitcoin, but they are great concepts, making them my "Ron Paul" (amazing, but no chance of winning - an unattainable utopian fantasy).
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A new Bitcoin was started a long time ago: Terracoin. It is an exact duplicate of Bitcoin, except for the name. Where have you been? And if you want to improve on Bitcoin, you already have hundreds to choose from. May I suggest Dogecoin?
Terracoin has differences from Bitcoin. Twice as many coins and two minute block target, for starters. |
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1. There are already hundreds of altcoins, pick one that floats your boat.
2. There will be problems, minor and major, in any project, and "new Bitcoin" is no exception.
3. You can't "start over" because a couple people you don't like happened to get rich. You remind me of the kind of child that would do this:
turns off console
The game never finished, it doesn't count!
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Because he has the capacity to kill billions of people across the world, but he instead chooses only to kill millions of people from his own country and nearby countries?
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This is why there's so much misinformation. People take half of the information they hear, add their own "facts", and pass it on.
PersonB: "Hey PersonA, do you know about Bitcoin?"
PersonA: "Yes"
PersonB: "How's it work?"
PersonA: "Bitcoins don't work like traditional currencies. Instead of actually transferring an item like dollars, or an idea of an item like the idea of dollars with a debit card, it works like a bank balance where you only have the balance and nothing to withdraw. Your address is like your account number - anyone with your address can send you Bitcoin. In order to use the Bitcoin in your address, you use your private key - a secret number stored on your computer - to authorize a transaction. The transaction is heard by other Bitcoin users all over the world, until every other computer running Bitcoin hears about it. If someone tries to spend from your account without your private key, it won't work and your balance stays safe. Because you're authorizing the transactions yourself and sending them to other computers, you don't need any kind of bank to transfer the money for you."
PersonB: "Cool, I guess"
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PersonC: "Hey PersonB, do you know about Bitcoin?"
PersonB: "Yes"
PersonC: "How's it work?"
PersonB: "Bitcoins don't work like traditional currencies. Instead of sending money, you're really sending an allowance of money. You've got an address the you use to send the money, and people also send money to that address. You send that address to everyone who uses Bitcoin, and then they can send you money. Also, if you tell them it's okay, they can take money out of that address. Because there's no bank for bitcoins to go through, you can just send bitcoins."
PersonC: "Uhh... Ok."
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PersonD: "Hey PersonC, do you know about Bitcoin?"
PersonC: "Yes"
PersonD: "How's it work?"
PersonC: "Bitcoins are stored in a number. That number is like a credit card number, you use it to spend your bitcoins. In order to spend your bitcoins, you just send that number to someone else, they send the bitcoins and then send your number to someone else, then they spend your bitcoins too. In order to send you bitcoins, you have to give people your number. Also there's no bank, so it's like having cash, except anyone with your number can send bitcoins from your account."
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PersonA: "Her PersonD, have you heard of Bitcoin?"
PersonD: "Yes, and I'll have you know that if you use Bitcoin, there is simply no hope for you. You have to be truly mentally retarded to send your credit card number out to millions of hackers."
PersonA: "That's actually why Bitcoin was invented. While credit cards only have one number, Bitcon you have two diff-"
PersonD: "Don't want to hear it, I'm not falling for your scam. Go fuck yourself."
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