The Basic advice for everyone is to understand more of what Bitcoin is worth.

 The value of Bitcoin right now is according to it's network:

 1) It allows faster transaction clearances than the swift network
 2) It is the gateway to access all the other cryptocurrencies easily
 3) It's network is global

 Bitcoin is working like a remittance system right now, so caution should be taken...

 When you see the Bitcoin price jump by a market cap of 100 billion dollars, ask yourself, can the network be carrying this much money for liquidity?
if the answer is no... it's speculation, it'll drop the moment people start pulling out their money; The lack of liquidity weakens price stability.

 Are the services provided in the Bitcon ecosystem capable of sustaining these levels of activity?
if the answer is no... it's speculation; speculators are betting on the great services that it's capable of providing... the problem? Very few people are providing these services, they are focusing on the market capital.

What are the exchange rates for Bitcoin to Cash to other Crypto in U.S. Dollars? is there concensus in the price? What is the average price of all other crypto's to U.S. Dollars? does the price match?  
if the answer is no... it's speculation; the market would develop a price concensus across the cryptocurrencies, showing the true perceived price... massive deviations tell something is wrong.

Be aware, investing is good... but how much instability could we as investors be injecting into the system if Bitcoin network is over supplied?

Use common sense, think carefully

Be Excellent and have Fun!

 Well, I was waiting for someone else to say something else... since there is no one else... I'll speak my last bit.

 Money can be extremely malleable it can be modified in ways you cannot even begin to imagine.
Think of the value transition that occurs in currency exchange, what if that occurred at a smaller scale.
Say you received instant discounts or penalties depending on where you were, who you did business with automatically?
Your money evaluated differently by a myriad of factors.

 about your question is Bitcoin a mining simulator? Yes, yes it is.

 Every parameter in bitcoin is meant to have malleability, to change as necessary, to adapt.
What happens in the real world when a few individuals begin to accumulate more power than others?
So far it hasn't done much, these miners are running a service for us, if they stop delivering a bang on service... there are others in the wings to take their place.

 Everyone that chose to use Bitcoin had a choice in the mining, they could mine for themselves, they could become part of a mining pool... and they could have gone for the 100% solution if they wanted too. A few small changes to the code and every node would be linked across the network, delivering a reward to all participants for their time, efforts and access to resources. More and more the abstraction you speak of is happening, everyone works for themselves, but more and more that necessary work is being, centralized, delegated to automation, forfeiting that reward, is this right?

 But is this the choice that The People want?

 Everyone was given the choice from the beginning, Bitcoin was founded on innovation, that is why it is Opensource, so anyone can change the code and make it their own, and if it is a better solution then it will be successful.
 People have been doing amazing things for Bitcoin from the beginning; Modifying the mining algorithms, the development of ASICs, the businesses... People built this, and there were a few cynical rotten apples in the beginning, but we are learning, adapting, changing with Bitcoin with every change everyone makes.
 People can choose to advance the ideas we are developing, change the transaction cap 2mb, 8mb, 32mb? sure; Develop better Cryptography instead? Why not? Use better compression algorithms? yeah. Nothing is supposed to be set in stone, but that still has to be tempered with the fact that this is our value system, is it perfect?

 Can Bitcoin help people in Sub-Saharan Africa? Yes it can, it gives people the opportunity to invest in them to bring them into the fold, those are our customers! why should we not setup infrastructure for them so they can participate? Why can't we go to off chain transactions? develop that too. Paper wallets? Bitcoin intermediaries? yeah, anyone could have just started a over the phone system with Bitcoin and act as an escrow... that's all that Mpesa is... it's Bitcoin, but with a phone layer added on top.

 The solutions that have been created are amazing, why hasn't someone just used OpenTransactions to mediate off-chain transactions with people who only have access to a smart phone? they can be bought for only $25 at any outlet in the developing world. Sub-Saharan Africa?   no access to electricity? Pre-denominated paper and instantly verifiable notes and objects to be exchanged cash style, this could have been done ages ago with a 3d printer, encoding the data into an intricate design, that will always belong to that object, when it is gone, it will effectively have been burned forever off the blockchain. there are  2.1 quadrillion coins... it can be done, I can imagine one day people will find these objects and realize their unfathomable value, what is 60k Satoshis, could be worth millions tomorrow.

 So how can we help these people?

 How can we modify the concept of money to suit our needs? Are there value transformations that should be done in currency?

 What information should we pin to the blockchain?

 How should we best program automated programs to interact with the Blockchain?

 Should we go for the 100% solution and make sure that every active user received a dividend for the over all activity of Bitcoin?

 We could go crazy on the modifications... automate money even more! Only have a certain income? your value is doubled automatically.
Sending small amounts? free transactions. Doing a lot of Business? here's a bonus. There is a lot we can do... I want to hear your suggestions Hugo... Where do we start?

 The problem that you are describing is at the core of the creation of Bitcoin, it was thought of as a compelling force to develop the Blockchain concept.

 I have limited time to explain, and this is why I can't write everything at once, but I will try to write what I can.

 What is Money? In my opinion it is a Resource Allocation System, much like Hadoop Yarn, or Google Omega/Borg, MapReduce, etc...
It is a Dynamic Signaling System composed of all the elements that are required for evaluating any one object, it's construction, distribution and marketing. The price of any given object is given an arbitrary value that reflects it's perceived usefulness in comparison to every variable that it is related too: Materials used, distribution effort, time to market, demand,  etc...

 The Bitcoin experiment required that every user dynamically link their own values to the system, and hence every contribution and evolution of the Blockchain by everyone has contributed to the whole development of an answer to this question: What is the correct monetary system that will meet our needs at the moment?

 I thank everyone who contributed to this project, every opportunity we as a community took to learn, to explore, to develop and create has given a measurable answer, not a definitive answer, but a good baseline... we rebooted money and cataloged with scientific precision it's development and in the process tested human nature as well... because well, Human Nature is a vital aspect to this endeavor.

 Now to the problem of Automation... Karl Marx knew what he was talking about, The machines will reach infinite productivity over time, what happens when all the money is accumulated into a few hands? The system breaks down, a single individual simply cannot allocate effectively all the resources available, entire communities fail when money begins to develop scarcity. Production is there, the will is there, but there is no demand signal being received! Even worse, what happens when there is no emergency stop button? Endless production of unallocatable resources?

 Money is our power of choice! It is a way for an individual to state their demands, needs, dreams and hopes without these money is useless! and even more it is a marker that tells us we must stop and move on to other things. It gives us the appropriate signals to know what is of most value. The machines we are making will require this and hence, we need to rethink what variables need to be considered in the system.

 Is the work that a person can do more valuable than their ability to think and reason? The Answer: No, thinking and reasoning are more valuable than the work a single person can carry out. Machines have been able to out work us for centuries... and yet we somehow fear the masses of Humanity... Those that control the system fear their ability to Think and Reason because of the Cult of Ignorance that has perpetuated among the masses, so they keep them busy, forcing them to maintain their minds, bodies and hopes lest they succumb to further ignorance, perversion and self-destruction. We have Sigmund Freud to thank for this belief. This Belief can no longer be maintained, the machines can not only out work us, they can out think us now and it is blatantly apparent... it's enough to drive anyone into an alcoholic depression.

 We have effectively outsourced our pride and belief in ourselves to machines. What happens now?

 Is our ability to think and reason more valuable than our capacity to dream of new horizons? No, it is not. our dreams are more valuable than the work of our hands and the reasoning our minds can produce. The cultures we can produce, the civilizations that we can create are ours, this is the measure of ourselves.

 So, should we evaluate the needs of the individual into our calculations of value... should we force people to produce for no other reason than to keep them busy? No, we should not. Should we force people to think and participate in the well being of themselves and their society? Yes, yes we should. Machines can produce for us, we must simply decide what they should produce. No individual should starve or go thirsty or be homeless in our society, their dreams for themselves and others are more valuable than anything they could produce or create.

There are some resources that must be considered apriori, Human life is one of those.

The Blockchain will allocate the resources necessary once everything is built and connected, for this reason it was designed to be usable by Artificial Intelligence Systems.

I have been thinking about your original post... and I feel an explanation is needed.

There is an original Bitcoin, that went along with an original white paper; From this came the principles that came to be what we know today.

I've been researching Bitcoin for many years, delving into it's lore as best as I can, trying to piece the puzzle together.
What comes next is opinion gathered from snippets, bits and pieces said from people who were there at the beginning.

The True original Bitcoin White Paper is unfortunately lost to the sands of time, as is the code for the first iteration of the network, but there are people here on this forum who received pieces, snippets of the code. From what I have read it was far different than what we know.

The First White Paper, one forum member described it as being far more interesting, I tend to believe them; Though I have never read it. If I could read that paper I would be shocked at the difference, what we received was a toned down, generic, sterilized White Paper.

The First Bitcoin Core, which was programmed by Satoshi Nakamoto was distributed in two pieces to the people who started the network. All they had to do was put the two halves together to have a compilable version of the Original Bitcoin Core. They proofed the network, the concept and many of the ideas... but The Idea behind Bitcoin was bigger than that. From what I have read it was way more advanced than the first iteration that was released to the public. So somewhere out there there is a even more powerful version of Bitcoin.

Why was this done? It was a token to the idea of Bitcoin, that it was,"For the Community, By the Community". The first person willing to code this new core, with the finalized principles of the ideas was... I believe Cirrus? They were given specifications and when they completed the coding of a viable working core it was released to the public. This version was primitive compared to what the original code could do, it didn't even have a GUI, but it got the job done.

This is the first principle: Each person has the right to learn, to explore, to create something new, to participate.

So what was the purpose of the First Bitcoin Core?

It was to solve the Double Spend problem, but a centralized solution could not work, you'd have to trust them to carry out the work properly. Anything that gives another party power over you is not a solution at all, it was posited, it must not rely on Trust. But how do you proof that it is a True Solution? The Solution: Let everyone know what is going on.

So many times we are prevented from knowing the Truth, by our governments, corporations, and establishments. They hide behind a system filled with fallacies, inefficiencies, and incompetence, using the guise of bureaucracy to hide Human short comings. The Blockchain solved this, "If everyone knows the Truth, they cannot be fooled."  This solution's realization was bigger than the problem it solved, information could no longer be duplicated on the internet... the Truth would no longer compete with hyperbole, lies and misinformation.

The statistics of what is truly going on could be known by everyone, without occlusion.

The short Answer to your Question, what does Bitcoin do that other Monetary systems can't? It can spread an idea, "that we do not have to be at the whim of those we elect to carry out the Rights and Services necessary for the Health and Well-being of the People."

We can know the principles by which we choose to abide, these principles are bare for all to see within the code that we choose to follow, and no one or group can prevent us or delay us from knowing what principles are being followed at any one time.


Many in this community know the answer: Bitcoin is an agent above morality, it carries out it's monetary principles without judgement, letting it's users decide if they wish to build a New World or Watch The World Burn.

... And yet it is greater than this... far greater...

Bravo... finally getting to the endgame. Bitcoin is accelerating these trends, every industry on the planet can be automated and this is what Bitcoin is showing us.

The way we have been thinking about things may be all wrong; We have been deluding ourselves by simply imitating the generations that came before without thinking clearly about our situation.

What is the Purpose and Nature of Bitcoin you ask?

It is a foundation for change. In simplest of terms it is nothing more than a ledger, a database, synchronized and co-ordinated across all it's users, assembled in such a fashion that it will support and enable it's users to live.

Everything about it is automated, yet designed in such a way that it allows a machine to do all the work, compensating it's users with value.

Hopefully everyone will realize this, that it is a good example for the automation that is yet to come... otherwise... our leaders may let us starve to death as has been the example in so many poor nations. I'm not sure, a slow die off is an adequate endgame.

All of us have been brought together to build upon this foundation of Bitcoin and The Blockchain to synchronize our efforts, to evolve it, for the benefit of ourselves and others.

I hope, we the smartest, can develop the will to build a better future, but we have to act now. It is not necessary that the rest of humanity understand every minutia about the Blockchain or Bitcoin, only that it provides measurable benefits to everyone; It synchronizes our efforts, accelerates our pace, and allows us the opportunity to grow our vision along side it.

Mpesa was only a prototype... a constant with which to measure a system that is chained properly to the old system, Bitcoin is the variable.

SCUD: The Disposable Assassin. Purchased over the Internet through the Blockchain along with 1000's more. Hijacked for slave labor, never complete their mission, work forever.

https://blockchain.info/

I don't know, check it out yourself...300 million usd daily.

... hell yeah, that's an idea, build the NXT platform on a chip.

I figure 5 Billion transistors with a built in FPGA, Network server and parallel cpu cores.

Assembly Language it's the only way to go, Low level, incredible control and phenomenal bug resistance. Could be the NXT port of last resort, Hell, I've always wanted to program in machine code,

jl777, Jean-Luc, Thanks for all the hard work.

With Jean-Luc building the foundations of NXT, and jl777 building on top of it, great things are about to happen.

so... Jean-Luc when do you think Fact Digitizaton and Service Providers(Distributed Computing/storage)will be ready for testing? , can't wait for those features to start working.

Just speaking my mind that is all. it's all speculation... but it would explain why they are holding the bag; Something big is afoot.

It just seems obvious to me what will happen when you give free expert knowledge to everyone and give them tools to use it. What if everyone had a 3D printer capable of building whatever they wanted? What if you had a assistant that was versed in all aspects of Law, Trade, Medicine, Science, Manufacturing, etc? Could speak every language on earth?

It would erase all barriers that we live under now; no need for jobs, economic development would be a joke; Language would be an abstract concept, merely a tool to transcribe ideas: Whatever you can dream of building can become a reality with the right resources.

The Engineers, Scientists, Business leaders, Doctors role as community advisers would be gone. We are already starting to see that, but still can't quite be sure that what we are reading is real or not.  too much misinformation going around to be useful... even getting useful cooking information on the internet can be daunting.

It's the dream of a decentralized world, information is free, new and better services are being built every day, and the last bastions of power, Finance, Business, Science, Manufacturing are being decentralized. It's only a matter of time. I think NXT is trying to build a network to consolidate and incubate those ideas within a small community. The foundations to do it are there, but we'll see how it goes.

I understand what they are trying to accomplish, it is what Bitcoin has already done, but they are building a iron curtain around it.

The design of Bitcoin was to do one thing very well, Finance, one of many uses for the Blockchain. The community was to build around it, giving each member a chance to create something great to succeed for themselves and many have. The meme of the Blockchain has spread successfully to fill in further gaps in Bitcoin's services.

NXT on the other hand is extremely ambitious, they are building it all themselves behind the defenses of the NXT Blockchain. A very ingenious thing, but no guarantee that they will accomplish it successfully. The leaders of NXT are determined and without a doubt will accomplish what they have set out to do, but they will need support to do it in a timely fashion. The development environment that they are working in is no doubt a hostile environment, they feel controlled dissemination is necessary to bring forth their vision uncorrupted.  It's a grand vision and I know for sure that even when NXT is fully built it will not be BCnext's vision, but a stepping stone towards it.  I can imagine it will be grand if it requires such careful planning.

Their ideology is NOT one that values Money but Human Capital... their monetary system renders NXT secondary to the user created assets, empowering the user to create Value & Wealth with NXT used only as a Arcade Token to play. It makes me think that it is merely a tool, an interface for enhancing users decision making ability on a grand scale, from there only Science Fiction ideas come to my mind: Global Distributed AI, Verified Information, Dynamic Job Assignment... this is a paradigm shift re-organizing the way things are done globally independent of Nations, Governments and Corporations.

A world controlled by Smart Contracts exchanging assets and commodities of all types and sizes world wide; Trade-bots allocating resources sharing dividends with investors; AI learning and adapting to global Demand & Supply with Independent Business support... Quite possibly causing the Singularity to occur through Crowd-Sourced insight of all Human knowledge verified by AI assistants.

but of course they have to finish it first. 

NXT is the most interesting construction of them all... The design is phenomenal. It's not a scam in the way a financial scam is, it's an ideology the most dangerous of all.

The NXT platform is marketed in a professional manner, covering all bases and providing all manner of utility. It has a purpose, when I look at it, the pieces fit together.
The flexibility and the availability of scrypting utilities that are provided is astonishing; It's basically the entire Cryptocurrency movement's ecology, made into a single platform. Whatever is provided in a singular coin and their support services is all handled from the inside.

The program is even updated from the inside and hash checked automatically, it's programmed to a level of security that is unheard of, whatever it's purpose, it's ready for war.

The control of the currency is in the hands of a few caretakers, very likely passionate believers in the NXT ideology, and they have the features and technology to back it up.
Who would of thought? a Monetary system build into NXT to make your own NXT? What?! It's mimicking the entirety of the cryptocurrency movement inside itself!

When I look at SuperNet and all it's other programs... I see a concerted effort; each piece is being assembled one by one and integrated into what came before and all marketed in a way that makes it seem like they are seperate services, but there is only one SuperNet.

If I take everything provided, SkyNet, FinHive, Multi-Gateway, Pangea, TradeBots, etc... they build on each other.

SkyNET: Artificial Intelligence system for distributed automated computing. This speaks for itself no need to learn something new or train, SkyNet can give you the resources to be a pro.

FinHive: Builds upon SkyNet providing financial analysis that would cost thousands, take years of education and lengthy exams to be able to do effectively.

Atomic: Cross-Chain ledger, do transactions safely within the environment of a DAC.

Multi-Gateway/InstantDex: Safe decentralized place to exchange currencies.

TradeBots: Gain benefits from the emerging insights of other users.

FreeMarket: Decentralized Marketplace, buy and sell anything listed.

DeBuNe: Decentralized Business Network, Juxtaposed against SkyNet this provides easy access to experts/ businesses and freelancers that can compliment the AI's intelligence by providing real world benefits, plus a natural fact checking feature provided by real people.


It impresses me that it is all being built slowly but surely. I merely have to see what is available in the Bitcoin ecosystem to see what will be built NXT.

I can't wait.

NXT is a Decentralized Automated Organization.

Throw in the voting feature, distributed storage, and other featured detailed in the Technology tree and NXT starts looking like a cross between a government and a Distributed Operating System.

I talked with BCnext when they were still considering the design of NXT; The approach that they took struck me as odd, I though maximum market share would be a better design, but that's not what BCnext wanted, they wanted a slow growth rate. Looking back... now I understand, and it makes me wonder what it was that they wanted to achieve that was so profound that they had to see if Humanity was prepared to accept their vision.

A Global Decentralized Operating System for every man, woman and child across the earth. I'm guessing here, but it's the only direction the technology tree leaves room for, NXT is free and extremely powerful in it's final form.

http://www.nxttechnologytree.com/

We have no choice, we  must integrate Bitcoin XT into Bitcoin Core and proceed as a double blockchain.
The standard chain is already hitting 50GB, we must embrace the duality.

Man, going into this thread I thought people had finally realized Satoshi is a Interdimensional Time Traveling AI from the future. 

"Can we quit pretending,"people," are Satoshi?"

Oh wow this is still ongoing. So, since there is no word from Chris, what's going on now with everyone? Has anyone received anything from him recently? I'd check things out but... I got kicked off his twitter account, lol.  Don't hear much from him lately.

considering how crypto currencies are, why doesn't everyone simply list their accounts here? Just so that we can track all the coins and see what happened to them.

 I believe it, you'd be amazed at the capability of A.I. I want to Decentralize it, democratize it so that everyone has access to verified factual information, with Neuromorphic assistance. Just think about how long it takes for us to master a subject... this thing can do it for us in a few days. Humanity needs this, we have no choice; This capability is currently limited to a few Pure Geniuses across the globe but most of us aren't so genetically gifted.

 Right now we are in a emerging depression caused by years of Chinese overstimulation of the market, The economy is overheating and it's not a bunch of numbers with infinite growth... there is a saturation point where everything we build, quality or not becomes worthless because everyone has one; incidentally diminishing competitiveness of dedicated businesses. Whenever the collapse comes, no one will be able to adapt fast enough. A Neuromorphic assistant in the palm of your hand can give us the edge to stave off a Catastrophic Failure of Society on a personal level.

A Blockchain Knowledge Base Artificial Intelligence; this synchronized database with all human knowledge programmed into it, available to everyone could synchronize robots, computers, equipment, programs, etc allowing people to collectively guide their future with maximum confidence.

Begin implementing Keccak with SHAKE, compress the transactions as they flow through the network on their way to the miners. creating an extra layer of security while systematically forming random lists of active nodes, time stamped for freshness.

Keccak is fast, it'll make it easy to create SPV transactions for thin clients, maintaining security for the network regardless of device.

Lol! meant well, but definitely fake. The market will decide, you could almost say that this is a IQ test for the community. Will people take things off hand... or will they do it the Blockchain way? Linking knowledge to it's source, regardless of it's PGP signature.

Satoshi anticipated the advent of pools, there is little that person did not anticipate. I even read he made Quotes within the source code around any type of weakness that could be thought of, this was from an article where Dan Kaminsky tried to hack bitcoin, but failed... the worse part? Satoshi's comments heckled anyone trying to poke holes in the software. The source code was so confusingly programmed(very likely on purpose) that even the core programmers had a hard time figuring it out; That's what caused the fork we saw years ago going from .7 to .8... any attempt to alter something at the core was like it was programmed in Binary, linking things together beyond assembly language... my take? I think Satoshi could program in Assembly Language; Machine Code.

I've read enough about bitcoin and checked it thoroughly... It has delighted me for years to learn the intricacies of Bitcoin,

Satoshi will taunt us from their grave, they left nothing to chance. It inspires me every day to try harder to learn more.

Can't doubt it will be a good day for Bitcoin, considering it's deflationary nature and all. Humanity fully automated, instead of waste precious resources will simply lower prices until everything costs satoshis to purchase. whoever holds out the longest may become the richest of us all.

Hopefully it doesn't come to that, i would like to see a world where everyone is given the greatest opportunities possible to travel, to experience new things, to try out different products. Recycling could help, everything we give back to the DACs our old shoes, our garbage, junk, shit, could be used to fund and support our lifestyle. I'd hate to be stuck in a society that provides everyone with everything but is unable to go beyond it's limits because of economic/resource constraints. Think of Space travel, that will require massive resources to setup the travel corridors across planets and beyond, but uncontrolled growth will deplete our valuable resources faster than we can regenerate them.