Their web server is the thing that is messy - it has been down for the last 3 hours. However I found another copy here: http://www.tuicool.com/articles/iQ7zqyHe seems a bit confused about a few things, in particularly under his "Legal/Regulatory Barriers" list: - ...
No protection or guarantees on transactions
Irreversible transactions, even on incorrect ones
...
First currency that doesn’t have a sovereign entity behind it
I agree with waxwing this seems to show a flaw in his understanding of bitcoin if he thinks those are problems. Lack of a sovereign entity is a positive, irreversible transactions and guarantees on transaction would seem to require a central authority. |
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This is a nice interview. He does a good job for describing the problem with the concept of a central bank and how bitcoin is a positive. |
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I think they are fearful that the population will catch on and bitcoin is an escape valve for their currency controls. Authoritarians of all stripes do not like freedom and want to control everyone else, bitcoin helps people who want to be free of the totalitarians, socialists, communists, fascists/crony-capitalists and the rest of their ilk - and they are fearful. |
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Ah, the cool $1 million per Bitcoin in 2018. Let's see what this means.
If miners decide to sell all their mined Bitcoins, (or 50%), this is how much daily fresh money is needed on the exchanges for the price to be stable:
2014-2016 : $3.6 billion ($1.8 billion if 50% sold)
2017-2020: $1.8 billion ($0.9 billion)
2021-2024: $0.9 billion ($.45 billion)
etc.
So, if Bitcoin is $1 million in 2018, good luck in finding that daily one billion dollars. (0.3$ trillion in a year). Dr. Evil would be proud.
I too wonder about the consequences of what the log trendline suggests. If and when bitcoin prices reach $1 million in 2017 and top out, there should be 50% adoption by the population of speculators. By way of clarification I mean not full adoption by the underlying economy, rather of the people and institutions that will ever purchase bitcoin as a speculation, half of them will have done so by 2017. In 2017 the block reward will be halved from the current 25 to 12.5. At the rate of 6 blocks solved per hour, the daily block reward totals 1800 bitcoin, thus requiring $1.8 billion to buy all mined coins at $1 million apiece. Total daily retirement savings in the US is about .5 to 1 $billion according to the Investment Company Institute. And given that only a fraction could reasonably allocated to Bitcoin, the majority of the daily required $1.8 billion will come from other sources including non-US retirement savings and especially I believe - merchant trade and the foreign exchange market. Just a note, this looks like it could be northern hemisphere summer (or fall) 2016 vs 2017.  |
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Wesley Snipes should have used some of the tax experts in this thread before the guys with guns showed up to take him to jail. Oh wait, I think that is what he did.
:-)
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If this is fading popularity, I hope 2014-2016 will be like fall 2010-2013 and bitcoin fades some more.  |
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This was a nice article. Well written and researched.
I particularly liked his comments about domain names. He was correct about how it was then and how people make the same type of comments about bitcoin now.
This reminds me of domain names and the web in 1994-1995
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in 2012 I had a bitcoin address, but I forget the purse number, can I rearrange it? because at that time, I did not keep a backup and not elsewhere wallet my number. please help me. Did you use bitcoin-qt? yes, right. 1 year ago my laptop loss, so is there ways to find my wallet identifier? If you don't have the laptop, and say you don't have a backup, there isn't much you can do. Are you sure you didn't back it up ever? You didn't print out a backup? |
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Cracking that problem is something I've spent a lot of time thinking about.
I have also spent a long time thinking about this very problem - the conclusion that I have come to is "the home server". The idea being to have a server at everyone's home that acts as their own "social network" hub as well as acting as a P2P participant in a system that provides both social and financial services. Perhaps combine it with D-Central that John McAfee is supposedly going to provide to protect against surveillance from the NSA and other governments. Hopefully he or someone is successful from the anti-surveillance standpoint and if it is open source, tweaking it to include bit coin services would be cool. http://www.futuretensecentral.com |
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You should take a look at p2pool which provides distributed mining while giving consistency similar to pooled mining as compared to solo mining.
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Taxes are really payments to the government in exchange for services. That sentence is morally repugnant. Taxes are not payments for services any more than rape is a form of dating. Payments for services are negotiated and voluntary. Taxes are unilaterally imposed and violently enforced. Taxes are about a minority of society gaining control of the enforcement apparatus and imposing their preferences on everybody else, using violence if necessary. If you want to talk about non-coercive ways to fund hospitals, roads, etc, then that's great but don't call it taxation. If you want to talk about non-coercive ways to fund hospitals, roads, etc, then that's great but don't call it taxation. Except, that's exactly what taxation is you moron. You aren't forced to pay taxes, and you are allowed to negotiate taxes.
I'm not sure where you live, but at least here and in most places in the West, taxes are not negotiable or voluntary. If you don't pay your taxes, you go to jail at the point of a gun. You don't negotiate taxes, you pay them or they are "withheld" so you don't even see them. On rare occasions people have negotiated huge tax debts away with the IRS in the US when there is no way they could pay what they owed, but that negotiation is at the threat of going to jail if you don't reach agreement. And calling someone a "moron" is not the way to have a discussion. |
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Where does it say Amazon or Target? It isn't even up to date about Overstock taking BTC.
It says it "using gyft" which is a pretty stupid statement by the author. Terrible research there. :-) |
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So, the bottomline is BlockChain.info is not safe either
What's not safe is weak passwords. Never were, never will be. Particularly dictionary words or dictionary sequences of words. Two factor security is important too. |
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Given the political leanings of the country these days, when Bitcoin really explodes and the value of bitcoins goes through the roof, can y'all see something like this going down:
Reporter: Mr. President! What do you think about the fact that 80% of bitcoins are held by 10% of the population?
Obama: I and many of my fellow Americans believe that that is unfair. We want to make sure that everyone gets a fair chance with Bitcoin.
Reporter: Do you plan to take any action in this regard?
Obama: Yes. I am am working in a bipartisan manner to introduce legislation that would ensure that all Americans receive opportunities with Bitcoin.
Lone Fox Reporter: So do you plan to redistribute bitcoins from those who hold them to those who don't?
Obama: All Americans deserve opportunities. That is the kind of country I believe in, and that is the kind of country that you elected me to lead.
(applause... fade to black...)
Plausible if bit coin became huge. i am waiting to see how the "redistribution of oil" works since it is quite concentrated in a few areas and "it isn't fair" to the world, particularly Africa since the can't afford it. Ditto ocean front property in Hawaii. 'Spread the wealth around' via government was the phrase that he used in 2008. :-) And addresses =/= people. And some are exchanges. |
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The three problems for the dollar: 1. Security of value: A continuos 0.000000001% attack from Central Bankers debasing currency. 2. Government Laws and Regulations: Used more for drugs, porn etc than any other currency in the history of the world so far in violation of the law the world over. 3. Other government's printing their own fiat currencies. If fiat really catches on, we will see other countries like the EU, China, Japan etc trying to print their own money. (Oh wait, I guess it has caught on already). :-) I'm sure some other people have the same thoughts about Bitcoins future, the fact is noone knows. But maybe there is information out there that i'm not aware of.
1) Government regulations, Taxation, centralizing, or blantly outlawing bitcoin
2) Government digital currencies, if bitcoins technology really catches on will we see governments forming their own regulated digital currencies?
3) Security. 51% attacks and Quantum Computing (I understand SHA256). Quantum is still decades a head of us.
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I consider myself a mid-adopter. Very early on, and probably in my buying phase, I planned to cash out at 10x if we got that far to get back my initial speculative outlay. Then lose about 1/2 of my BTC at 100x. I'm in the process of doing the latter, but getting at my deep storage wallets is deliberately time consuming and laborious. Plus, I've got all the fiat I want and need for the immediate future and I'm getting a bit greedy and hoping for further increases over the course of the year. As for my remaining stash, I've not thought about it in detail like the earlier targets. It'll be a matter of watching the evolutionary twists and turns that Bitcoin makes, watching what happens in alt-cc-land, seeing what other hobbies and interests I might develop which would benefit by cash-flow, etc. Buy yes, I intend to die with a relatively small number of BTC under my control. I did my duty of mopping up excess liquidity back when that was a problem and I plan to continue my obligation of releasing the BTC back into the economy as and if they become increasingly dear. I've never been so handsomely rewarded for doing so little I don't think I can ever reach 100x (some people already have if they bought for 10$ or mined). I heard about bitcoin when the price was ~100$ so my chances are very low, whatever, I'm happy anyway.  People scoffed at dollar parity. At going from $1 to $10. Then 10 to 100. Then 100 to 1000. With wide adoption for currency, store of value, colored coins etc, who knows the upper bound. |
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Go ahead and create your alt-bitcoind and see how many people want to use it. That will tell you if people think it is a good idea or not.
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Perhaps this should be looked at as a peer to peer issue instead of a web site or hard coded address. Ultimately I like this type of idea since centralization is anathema to bitcoin. However, the problem I'm specifically interested in is making bitcoin web services more secure for novices who are unlikely to download ZIP files and do checksums themselves. Installing P2P software would likely be beyond this target group's skill strengths as well. Maybe instead of a brand new centralized service, this could be something as simple as a single portal/checksum page hosted on a reputable site such as bitcointalk.org or bitcoin.it. Simple is key as you state. Using the web site idea in the initial post, perhaps each site could query the distributed hash for a particular web site. Each of the of sites could continually verify that none of the others have been compromised. E.g. Main site checks each of the others, but the others continually check other sites in the network against their hashes. The more sites running the extra bit of code the stronger the guarantees that all are safe. You could have a plugin available for those who are technically advanced to automatically verify every site. |
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What is the best no sync BTC wallet there is no scam please and no virus.
Check out the ones listed here at the top with their own child boards: https://bitcointalk.org/index.php?board=37.0If I understand the question, one of them might be what you are looking for. |
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Perhaps this should be looked at as a peer to peer issue instead of a web site or hard coded address. This prevents single points of failure. Perhaps something built on namecoin, bit message or the like (this is very off the cuff, but doing it in a distributed manner is important I think.)
Other projects could find this useful for sure.
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