So basically you want to steal a ton of bitcoins by getting people to trust you to store them with you...
In case you didn't notice this is an old forgotten thread. |
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Why are you complaining about the energy loss caused by Bitcoins? I'm sure mining for minerals, oil, or printing paper money wasted way more energy than what the miners are using currently
OP is PoS trolling. |
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The energy savings against just the Bank of America energy use would probably be worth the carbon footprint.
Merge mining Namecoin may offer additional savings if it is adopted.
A single proof of stake coin would never become universally accepted, nor would it need to. Trust issues would prevent the efficiency savings over proof of work. Each sovereign would want their own for obvious reasons. Exchange servers would need to manage hundreds if not thousands of currencies. All the extra resources needed for proof of stake economies would end up dwarfing one global Bitcoin.
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Why should anyone trust you to create a malware/backdoor free software that won't steal bitcoins? No offense, but saying "hey I gotta cool website idea that copies other work" isn't interesting. Just do it.
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If this is a web based wallet it needs to be moved to services.
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Doesn't anyone know that late night tv is full of this stuff in America? Businesses are actually paying to have this broadcast nationwide.
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The only security you need is that you aren't carrying large amounts of cash in a dark alley. The machine needs to be foolproof. What types of customer service solvable problems would you anticipate?
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Note: The question is not if you believe, but how many overall entertain such a notion.
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Well technically they believe that Bitcoin is a mark of the Beast.
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Greetings from His Most High Emmisary and Grand Blockchain Proculator of Greenland, CBEAST.
On this most eventuous occasion of celebracity, I bid and aspashulate these great citizens of the Northern Subcontinent. Behold your fields so green, whisper tales of woe, of how we calmed the tides of war, we won't be fooled again!
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Reminds me of the Ricky Gervais movie "The Invention of Lying."
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Good one, Phinn! Dang, I was going to start Uberqoin but you beat me to the punch. Tough decision whether to be the Emissary of Greenland or Asia. Is Jeckyl Island still available? I'll be following this with wonder and amazement.
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I've read criticism that Coinbase goes against the spirit of bitcoin, since they control the private keys. I disagree now. I think free off-chain transactions and the ability to allow third-parties to directly debit your account is critical. To implement these features, they need to hold the private keys.
As long as if and when Coinbase is hacked you don't go complaining and suing I've got no philosophical problem with the concept. In my mind buying the best home security system on the market and then posting your address and passcode online would be a silly thing. But that's me. It's a fine line between cautious and paranoid. When I switch from thinking of Bitcoin as an investment to a currency I will probably keep a little in a live exchange. About as much as I keep in USD in my wallet I figure. By then the technology will have matured a bit as well (as will the hacking techniques <sigh>) One must balance ease of use with how much one is willing to lose. It all comes down to personal choice, which I think is the one thing we all here can agree on  I don't think he was suggesting otherwise. Pushing only what you need to spend into these accounts is the safest way. I hope more of these services grow and develop faster Bitcoin validations. IIRC Coinbase keeps most of their keys in very secure cold storage. |
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BTC is a commodity.
XBT is a currency.
QED
Not quite QED, but an interesting idea. The only problem is that it adds unnecessary complexity. Why not have one universal symbol for the same currency/commodity/thing/idea? Labels are for legacy systems. They don't seem to have a problem with paper gold like GLD being traded like AU. It's their problem. If a sovereign defines Bitcoin as a commodity (i.e. China) then it's BTC, if a currency (i.e. Germany) then XBT. It would be interesting to have to pay a conversion fee when moving it between markets. |
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BTC is a commodity.
XBT is a currency.
QED
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common production just makes sense. why work for anyone else but yourself. it's the only sustainable economic model and bitcoin empowers it. esp with multisig and other tools. i see many possibilities for using markets in this way. more than anything we can invest in technology and better industrial tools rather than buying tvs or other good given to us- long term we all end up better together. http://opensourceecology.org/wiki/Practical_Post-Scarcity_Videoinstead of small toys (porsche, luxury apartment .etc), have the best and biggest toys (industry, farms, techno infrastructure, production, large scale construction). it's my aim https://wiki.unsystem.net/index.php/UnSYSTEM/OpenSource_cityThat's something I hope to bring to the Philippines someday. |
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Thanks for the nostalgia ride. I probably have dusty computer club sig tapes I made in the 80's and 90's with early developments.
The blockchain is the first financial protocol added to the internet. They can copy the protocol, but they can't copy the risks and sacrifices taken by its pioneers. And they did it without financial backing and with all open source coding. Nobody can accuse them of doing this as a pyramid scheme because everyone had the same opportunities to get in cheap even years after it began. It's been quite a ride and I don't see it ever ending.
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Referring to it as a "line of credit" implies that the underlying value represents a loan, which is not factually accurate in any possible way.
This. OP needs to put down the crack pipe. The current deficit spending global economy is based upon hundreds of trillions of dollar in loans that can't possibly be repaid. The crackpipe used by the central banks is the size of the Alaskan Pipeline. All the meth shacks in SE Asia can't fill their needs. |
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The Press would love that. "Bitcoin drops by half overnight."
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