Yes.  Each new blockchain branch or new chain would be a new alternate coin.  Only the one chain that follows the Bitcoin protocol would be the real Bitcoins.  Most alt coins are new chains a few are branches.

Just that they can make a lot more USD by auctioning off the BTC in lots of 100 or 1,000 BTC (which is what I think they will do).

This so called "journalism" is discussed in this thread:

https://bitcointalk.org/index.php?topic=404368.0;topicseen

Specifically here:

https://bitcointalk.org/index.php?topic=404368.msg4377451#msg4377451

RE Ghash.io and my sarcastic post referenced above:

Just because someone can do something does not mean they will do it.  They won't do anything.  They will make more money doing exactly what they are doing.  They will not throw it all away for some stupid double spend that everyone can detect and respond to.

As far as what exactly they can do and can't do - research it yourself - ever heard of a fancy new web site called Google?  It has been explained so many times in so many ways I sick of the subject.

The point of my post is that even though a large pool like Ghash.io will not do anything to harm the network the FUD storm that would accompany them going over 50% would almost certainly create a great buying opportunity due to the panic selling by the uninformed masses.

You must have missed the second sentence:

I am hoping Ghash.io gets 51 or more percent of the hashing, here is why:

https://bitcointalk.org/index.php?topic=407217.msg4434862#msg4434862

Right.  I am out of here.  Stupid thread.

I hope they get up over the magical 50% hump, let say 55% or higher.  It will in no way damage the Bitcoin network but talk about a FUD storm of Biblical proportions!!!

PANIC blood in the streets selling worldwide, everyone screaming 51% 51% 51% at the top of their lungs - none of them with the foggiest idea what a "51% attack" even means or what can or cannot be done by such an attack.

It would be a thing of BEAUTY.  I can see the possibility of a dip into the double digits as the lazy fucking media circle jerk around the story, referencing each other's "research" repeating the "BITCOIN IS DOOMED OMG SKY IS FALLING" story 24/7 all over the web and video.

I can't wait, moving cash into the exchanges and getting ready to buy.

You can do your part by posting as many threads as you can warning everyone of the horrible dangers that a single pool controlling over half of the hashing represents.  Make sure your post contains no actual facts or technical detail otherwise CNN will not be able to use your post and quote you!

There is one problem with you plan.  There is no way you can damage their reputation - they do not have one to be damaged.

I believe what he is trying to say is they buy BTC up to a high price then dump all their BTC causing the price to crash.  Then buy it back up to a high price, then dump it and cause it to crash.  Rinse, repeat until they burn through their 40 billion dollars budgeted for their evil "Bitcoin Destruction Plan"

I hope an pray they start doing this.  I will simply sell into them at the high price and buy back on the crashes - THANKS idiot government for the USD.

Seriously, they will not do this because it will just make a bunch of BTC traders rich beyond their wildest dreams.

And it would not destroy Bitcoin.  It would only make it stonger.

The encryption used in very strong and not the issue.  The issue is how strong the password is.  If you use a weak password then the wallet can be cracked.

I did a fair amount of PP business with him and that is the name on his PP account...

If this goes to LE then I may have a couple of tidbits of info to add.  Let me know.

BUT the date on the article:  Wednesday 12 Oct 2011 1:07 pm indicates that even if that is him this all happened before we met him.

Wow, that story does smell of either a gambling or drug problem.

I was going to say:  how is the evil ghash.io going to change all the clients?  But you beat me to it...

It appears that you really like your idea so I suggest you run with it and create OURO ȣ

Let us all know when it is available with a white paper, reference client code, miner code (if needed), etc.

He did take out and pay for two contracts on people's lives - although it appears that no one died because of it.  That would be attempted murder I believe, still not a death penalty case as far as I know.

Thanks for the background.  Now I have not used GOX in a very long time (because they suck) but it used to be that you could transfer out a small amount of BTC every day or week even if your account was not verified.

You should check if there is any amount of BTC (even if small) you can transfer out of your unverified account.

Let's say you can transfer $100 per day worth of BTC - you could eventually get it out, it would just take you a while.

Another thing:  have you tried to tell them you just want to close your account and get your USD or BTC back and see if they have a method for closing an unverified account?

BTW I use bitfinex.com, best exchange I have found and you can remain unverified if you only transfer BTC in and out.

One pool of miners with a majority of the hashing power is not the same thing as one malicious entity that wants to harm/kill/double spend Bitcoins with a majority of the hashing.

So, relax.

I have been here for years.  The same "OMG the sky is falling" threads happened when DeepBit attained a majority of the hashing.  Where is DeepBit now?  Where is Bitcoin now?

So, relax.

Exactly, you just made my point for me.  Thanks.  You just took almost 49 BTC from the car dealer, HALF what he was paid for the car.

Because of this the VanishCoin idea is not money and is a still born alt coin concept.

Did they give you an actual reason?  If not I would ask them what specifically you need to send in order to be verified.

I do not know why you are having such a hard time getting verified.

I did it a while back.  They asked for some specific documents (DL, Passport, power bill, etc.), I sent the docs, they verified my account.  Did not seem like a big deal.  Why are you having such a hard time?  Are you trying to do something fishy?  If you are following their instructions to the letter and sending exactly what they want then I expect they would verify you just like they verify many many other people every day, or, at least give you the reason they won't.