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just as an example.. from the above vid:
"libertarians think the contract is unjust because because different people and businesses are required to pay different amounts in taxes. But this is no different than insurance rates which vary from individual to individual"
Eh? Insurance rewards those with good behavior(with lower rates). Unequal taxes punish those with good behavior.
Not the same.
Secondly you can opt out of insurance. Can you opt out of taxes?
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If you want, I can take a crack at that. |
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I can't help but think of those handfuls of people who were mining bitcoin since 2010 and beyond. Raking in thousands upon thousands of bitcoins per month if not per week. I can't help but think of all the people sitting on stacks of 10k bitcoins spread out through different wallets........ I bet the biggest hoarders of bitcoin could keep the price below 30 dollars for years if they started selling now.
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I like the name lol.
Does anyone plan on using this?
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First let me state I don't understand ripple well yet. I'm only just starting to read about it.. I'm also relatively new to bitcoin. I didn't read Satoshi's whitepaper until december (even though I knew about bitcoin since october 2011).
Bitcoin is powerful... and it could operate even if exchanges were taken down. Everyone knows that.......
but a decentralized exchange would be powerful right? And if you took the time to sit and think of how a decentralized exchange would work.... would you end up coming up with the idea of Ripple? Will ripple allow bitcoin to succeed in the event of political attack?
Just wondering.
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Sounds like a cool idea.
I don't know much about law , but is it possible to somehow force some case or issue with a good chance of winning to set a good precedent for bitcoin? If that makes sense. In other words to start some litigation related to bitcoin with the sole purpose of winning so that it can be used as precedent and used as a defense in future court cases? HMM
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Todays myth regards the usefulness of Bitcoin in the case of an economic collapse.
It is claimed that Bitcoins would be very useful in economic uproar because they cannot be counterfeit.
The problem with that is that it is problematic to use Bitcoins in such a scenario in the first place. It pretty much depends that the infrastructure continues to be operational through the crisis.
Once the power grid and the Internet are affected the usefulness is pretty much done for. Proposals to rely on things like solar panels and off-line wallets is pretty much irrational because the mining infrastructure would grind to a halt. Transaction times would be beyond a day and the risk of an attack by the establishment which brought up the crisis severe.
I'd take a silver coin over a bitcoin transaction the next day, and I guess you would too...
Only in a situation where the infrastructure continues to be operational along with a steady high inflation (no deflation) can Bitcoin shine. These are mostly periods of good economic growth, in real cases of economic crisis ppl wouldn't have enough cash to keep the bitcoin price up.
wouldn't it take a global economic collapse? |
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Just curious........ what if the amount of money funneled into mining is so much greater than other endeavors (such as businesses that accept or deal with bitcoins) that it somehow drives up the cost of transactions from miners seeking to recoup their costs from their investments? Is it possible to have this transaction cost increase without a corresponding increase in the value of a bitcoin? Will mining simply decline at a point when it becomes counterproductive to do so naturally?
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Does ripple allow everyone to basically use different currencies in some interconnected payment network without needing an exchange?
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I was just wondering...... with some people not wanting bitcoin to be able to scale by changing the hard block size limit do any others deal with this issue better?
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The Intel/AMD stuff isn't secure though yet.
Well, security is a spectrum, but regardless I don't think you can tap high-speed memory buses with a few thousand dollars worth of equipment, and it goes without saying that you can't easily access anything that's held in the L1/L2 caches. So you have some secure memory there and can write your software such that it encrypts data that won't fit into the cache, if you want to. Who says banks can engage in fractional reserve banking? You can force chaum-token redemption to be recorded in audit logs, and those logs prevent them from getting away with that. The logs themselves can be made public, and making them public still doesn't reveal anything.
How does that work? Unless your plan is to run the entire bank inside the remotely attested secure world, complete with all the code that talks to Bitcoin, you can't know that the bank didn't just issue themselves some tokens without making a deposit. And if you want to run the entire bank inside a trusted computer, sure, that plan would work, but then you don't need Chaums technique. The secure program can just generate a key and then accept encrypted deposit/withdraw commands. The database can itself be encrypted before it goes to/from disk. Small hard-drives were a huge issue 10 years ago. I can't see people buying multiple harddrives, just to experiment with this new-fangled "Bitcoin thing" The block size would have probably been set to something more like 100KiB, and a year or two in this exactly discussion would already be happening.
What makes you think most people will keep the whole chain? All you actually need is the pruned UTXO set and that is only a few hundred megabytes today. Bitcoin could operate just fine with only 5 different organisations holding complete copies of the chain. I can't imagine any time when hard disk size is the constraining factor on running a full node. thankyou |
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To put things into perspective what will a 2 MB limit offer vs a 1MB in terms of theoretical scalability? I guess you could say "twice as much" . What would that be like compared to say paypal for instance?
Couldn't you also argue that if we run up to the limit... and it is seen that it is to everyone's benefit that a raise would be good.... doesn't that mean that we don't need to come up with some fancy /adaptive dynamic limit(since if we can do it once we can do it again)? If we can get a consensus and fork increasing the limit by 1MB then that is good news for the future of bitcoin I think.
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so it's not just propaganda. They are fucking with the actual votes too.
I remember watching a video once on some of our electronic voting systems. They are suspicious for 2 reasons: Closed source. Why in the world would you want to have a closed source voting system running our elections? #2. If you insert a disk in the voting machines you can actually change the data with software on the disk. Why in the world do these voting systems allow code to be executed from inserted media?
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would it be illegal or anything if you copied neweggs layout somewhat?
When I click on cpu's nothing happens except the page refreshes....
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I say that if people want to work on off the chain systems... that's all great and dandy. But don't FORCE us to use them. By refusing to raise the block size limit you aren't letting the free market decide what it wants to use on top of bitcoin. You are forcing it to use whatever there is. And there might not be anything except for........ other cryptocurrencies.
That is absurd. One could equally well say by failing to use the block size we already have you aren't sending the market the "more size needed" signal. "Damn, stuck with vast amounts of unsold inventory, should I restock? Maybe order larger quantity than last time around even?" -MarkM- if it's absurd.. then what does this mean? The way I see it, we have 2-3 years before the blocksize becomes a serious issue, and if people start working on off-chain transaction projects now, we'll have plenty of good options by that time obviously he is saying the blocksize becomes a serious issue down the road... not now. Is that absurd as well? because it's basically what I said. If you make the bitcoin network incapable of scaling and you don't work on an off the chain system like this thread is about then "we have no options" |
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sometimes it seems like government is an extortionist.
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I say that if people want to work on off the chain systems... that's all great and dandy. But don't FORCE us to use them. By refusing to raise the block size limit you aren't letting the free market decide what it wants to use on top of bitcoin. You are forcing it to use whatever there is. And there might not be anything except for........ other cryptocurrencies. Anyway, regardless of who is right, if people don't work on alternatives like Trustbits now, we won't have any options at all in the future. |
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It seems like a good way to make the news would be to somehow involve bitcoin with geocaching and treasure hunting. Funds can be added to a treasure during the middle of a hunt The treasure can actually exist in pieces... like this page suggests http://bitcoininformant.com/2012/06/update-splitting-bitcoin-secrets/I don't really know how this would work but it seems like there could be fun involved. |
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Each account will in a few months get its very own IBAN number, users will be able to use it as any other bank account, have their salaries and pensions sent there and have them automatically converted to Bitcoin if they so wish Just curious... what will it take to make this happen in the US? How do you get a bank to automatically convert your savings to bitcoins? Are there any plans for one in the US? |
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IMO the price is going to stay under 32 until august/sept . Until then it's gonna stay in the 20's. Maybbbbbe dip into the teens for a spell. Mayyyybee go over 30 for a spell.
I think all the good news about bitcoin is great.... but it takes time for people to catch up to that news. Sure thousands of people may have heard about bitcoin in the past few weeks that want to join in.. but I don't think we will really see great gains until the end of this year when we are in the 40's!
I think over time as more people hear about bitcoin... there are going to be more and more people that get hold of some bitcoins and WON"T let them go until they actually reach what they think they are worth.
Just guessing!!
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