Those who don't care about their privacy or who want to be issuers with trustworthy reserves can use bitcoins directly, while cash customers who like their privacy can use the securely anonymous blinded cash. That forms a two-tier system, analogous to the old privately issued money system that involved mining and storing gold (bitcoins) and issuing bank notes backed by gold (anonymous cash backed by bitcoin reserves).
The whole system could be far more secure than the old gold-reserve + banknote system, because the "gold" is more difficult to steal but far easier to securely audit, and the "bank notes" far harder to counterfeit and (especially against modern investigation techniques) more difficult to trace/identify users. The "gold window" for these banks could be far more secure from various threats than in the old private bank note issuers. And it's all conveniently online.
Two very important paragraphs, thanks for this great idea. DigitalCash + Bitcoin = PGMS = Pretty Good Monetary System |
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Personnaly I think the point about bitcoin is not really anonymacy. The point is encryption. Even if the states knows who you are, and what kind of transaction you've done, they can't steal the money you've earned. The only thing they can do is put you in jail. I dare them to do that. It would be so obviously outrageous. I know they would do it anyway, but I don't care. Bearing injustice is an honor, sometimes.
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A CHK is the main type of Freenet URI. The file is already encrypted on the network, and the key is in the CHK, so if you keep the CHK secret the wallet can't be recovered.
Oh, ok. BTW, is storing a file on FreeNet reliable ? I mean, as I understand it, FreeNet is P2P. This means that a file is there only if people use it. If I am the only one who need a file, isn't it likely to disappear from the network if I don't consult it regulary ? |
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Encryption isn't necessary if you keep the CHK secret.
CHK ? |
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I have a 200 BTC bid from a user who wants to be anonymous. I'll name him Anon01.
So, Anon01 is leading at 200 BTC.
You can PM me for anonymous bids, but please avoid this. It's easier to use this thread, and it gives better transparency to the auction process.
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Highest bid is still 180 BTC.
Anyone for 200 ?
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something like this maybe ? gpg -ac $HOME/.bitcoin/wallet.dat | lp
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DUDE! I just re-tried it again and you're right!! It runs fine now compared to a few months ago when I test it  Maybe we should make a Bitcoin community there. I might try to use this as much as possible. No rush for that right now. But eventually when the governments will begin to be aware of bitcoin, Freenet will be an appropriate place for this site. |
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Increasing the rate of block generation would increase the number of chain forks, which makes the system less reliable and easier to attack. Focus is shifted from CPU power to network power. 10 minutes already causes a significant number of chain forks: // Don't show generated coin until confirmed by at least one block after it
// so we don't get the user's hopes up until it looks like it's probably accepted.
//
// It is not an error when generated blocks are not accepted. By design,
// some percentage of blocks, like 10% or more, will end up not accepted.
// This is the normal mechanism by which the network copes with latency.
//
// We display regular transactions right away before any confirmation
// because they can always get into some block eventually. Generated coins
// are special because if their block is not accepted, they are not valid. Thanks theymos. Number of chain forks is indeed the limiting factor for block generation rate. |
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How fast does wallet.dat size grow with creating new addresses? It would be nice feature to physically remove entries from it if I'm pretty sure no one will send coins to that particular address. For example, if would be useful for shops which create one-time addresses to recieve payments. If it's used once it's not needed anymore so the shop engine sends coins from that address to a certain fixed address and removes keys for that temporary one. It will prevent wallet.dat from growing indefinitely.
The size of your wallet is very unlikely to be a problem, imo. If empty addresses realy bother you, you can create a new wallet and put all your bitcoins in it. You could do that with a VM or using mybitcoin.com as a temporary storage. |
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If we get to a point where the price is energy make it worth to synthetize gold then probably we dont need a monetary system or for that case even an economy anymore. It will be really a post scarcity world.
I thought that too but couldn't express it that well. |
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I think the word "community" is missing in the first sentence.
Otherwise it looks fine.
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So, do you think that gold (or any other precious metal or gem) is immune to new technology... technology that could manufacture it artificially, or find massive reserves of it?
Yes, I think gold is immune to new technology, at the very least for a few centuries. But even if cheap gold synthesis was possible, it is a very huge hypothesis. And above all : it is not present reality. Personaly, I prefer base my investments strategies on actual reality, instead of science fiction. |
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RTFM ! I'm not sure whether you're referring to my comments or Bruce's questions, but in any case... Bruce's questions aren't all answered at the right level by the Fine Manual, which is written for a different kind of audience. Yeah I may have written rtfm a little too quickly. I just felt like writing it when I red the first questions, especially "Is it open source ?". |
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The block chain with its transaction history is unique to each cryptocurrency. You could say it is the block chain dna.
See the post above ... if you have cryptocurrency used by 100,000 people and another one is gaining popularity fast with 5,000 members, the 100,000 can easily knock it down if they see it as a threat and can coordinate. All it takes is a simple modification of the client they're using (so it computes hashes for the other blockchain) and enough people adopting it ... which is much easier to do if those people believe the new currency is a threat to their dominance (and therefore their money). Doesn't make much sense. Hashing power doesn't hurt a cryptocurrency. On the contrary, it enforces it. I just don't understand what you mean by "dominate" or "surpass". |
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An other hint concerning Satoshi's goal. Have you seen the timestamp for the Genesis block ?? extract from main.cpp : const char* pszTimestamp = "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks";
Seems quite clear to me that Satoshi was angry about the "too big to fail". |
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Today's spot gold price for 1g of gold is USD45.19
Today's Mt Gox last price for Bitcoin is USD0.14
Does that not translate into: 322.78571 Bitcoin = 1g Gold
I don't care about market price. I only care about how much people are ready to actually pay in order to get this 1g gold mini bar. If you think you can sell it later at 322 BTC, chose your margin M% and place a bid at 322 * (1-M%). |
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Question, quelle est votre motivation pour acheter des bitcoins ? Jeux boursiers ou autres ?
Curiosité de voir ce que tout ca va bien pouvoir donner =) Moi j'adore l'idée d'un truc, que même si les flics débarquent avec l'intention de te le prendre, ils peuvent pas. ça n'a pas de prix une telle possibilité, amha. |
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Yes, it is easy to come up with ways to spend money earned by others, then taken from them by force.
+1 |
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