Proof of stake is what kept banks honest. Gold standards may have been cumbersome and prone to other weaknesses, but at least they got this basic thing correct.
Proof of stake is what we currently have under our fiat USD/EUR/Whatever system, where the banks and the central bank have the biggest stake in the currency. It hasn't kept them honest, since it's trivial to hurt the currency while acquiring more and more assets, and still come out on top. That's exactly right. Enough of this proof of stake bullshit already. No, that's complete bullshit. A stake in infinitely printable non-backed currency? Are you guys drunk? Your unwillingness to even engage in discussion is exactly the kind of idiocy that I was talking about. Enough of the arrogance already. I'm not saying PoS is unworthy of experiment. By all means, waste all the time and resources you want developing it. I won't waste any more time arguing about the points I disagree with. I'll wait until I can buy some at Walmart like I do Bitcoin to discuss the merits of PoS. |
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I do, but I think long term even if it's for my kids. I've been waiting 30 years for an opportunity like Bitcoin. What makes it different than all the other fads and scams, is that it is so much more than a technology. Technology can be monopolized and regulated, but an open sourced math algorithm is just too ridiculously intangible for anyone to control. Bitcoin is the slipperiest pig anyone would ever try to catch. It will be like watching the Keystone Cops trying to regulate Bitcoin. I'm all in just for the laughs if nothing else.
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Excuse me? He said exactly what I would have said. Am I supposed to retype the exact same thing, for the ultimate exercise in futility just to please you?
Really! You would have said the same thing? You have to be careful agreeing with me around here. The OP was not a slam against PoS and I'm glad you got that. Competition is the core of capitalism and Bitcoin embraces that notion fearlessly. |
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As Bitcoin grows it will require resources beyond the average user to act as a full node. Actually, it did that when it was invented. The average person in the world doesn't even have a computer, let alone a personal internet connection. This leads to the question of who really benefits from Bitcoin? We all do, rich or poor. The greatest objection so far seems to be that as Bitcoin grows it will lead to supernodes and lose its quality of decentralization. These supernodes will act as transaction clearinghouses in the way that banks do now. Now we all now how unfair banks operate, so this must mean that Bitcoin will become as corrupted as the central banks, right? This argument is related to the notion that a 51% attack will threaten the integrity of transactions. Both are real concerns and both have the same solutions, transparency and competition.
I welcome the days when banks again operate under a code of ethics, even if it means they are subject to the same competition in the market all working people experience. Banks will need to compete for bitcoin loans based not only on their lending practices, but also their choices of payment processing rates. Supernodes and banks will compete for exchange rates in diversified investments. The fear that someday one supernode will monopolize the Bitcoin network is as real as gold or any other commodity will be cornered. It is an irrational assumption as all markets operate in complex systems with ever scaling margins of error.
I am less concerned about making Bitcoin more scalable than functional through the theoretical transaction types available because of the crypto baked into the cake. Let's stop worrying about who is going to build the biggest mining rigs. There will always be competition like that. Let's instead focus on making the great big board-game of global commerce fun for everyone.
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Putting the team together for Bitcoin Magazine was a notable accomplishment. The "bet fiasco" was a silly and overblown reaction by people that believe gambling is an honorable enterprise run only by legitimate enterprises free from seedy sorts. Your entrepreneurial spirit is a little overzealous, but we all fake it in the beginning until we develop our skill sets.
Ignore the scammer tag and add a link to your cv with a very brief apology and explanation for the tag. Find your bliss and move on. Develop your talents and steer clear of the agenda biased pundits. There is a long way to go and much to be done. Bitcoin needs passionate and creative players.
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I don't think free energy is impossible. Our experimental and mathematical modelling requires closed systems by definition, but in reality nothing exists in a closed system. The standard model doesn't hold up at the edges of our observational capabilities, especially when we use vast amounts of computational data to see new and unexplainable relationships. We have plenty of energy here and now for any conceivable purpose, but when it comes time to conquer the Universe, I'm sure we'll discover how to utilize Planck energy. It still may not be free, but there is evidence of power beyond our current understanding.
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AHHH!!! I can't believe I missed this. My instructions are incomplete. When I said that modern spelling will be used, I meant only the questions, not the answers. The answers are as they appear in KJV 1611. I hope this did not throw anyone off. I will correct the intructions in bold.
I had already figured that out and was hoping that the only reason the bitcoins weren't claimed yet was that maybe I was the only one who figured it out. I suspect that others who have all the answers will quickly claim the reward now. We'll see. Well I had come up with answers a while back but never got them to work out together and had basically given up on it. So I just went back over my list and switched some 'u's and 'v's, added a few 'e's and out popped an answer. Spoiler warning if you want to finish it yourself, couldn't find a style to black it out completely though: carpenter cubite treasures pleasing delusion eleven fire boastings Dagon vnsearchable sharpe kniues pruning hookes dominion vapour perditionNow if I could just figure out how to narrow down the answers in that crossword somewhat (I have found quite a few 6-letter places in Norway and towns in New Jersey with the right crossing letters) Congratulations! It gives me hope to continue this idea and make it better. |
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The three ways are mastery of body, mind, and emotions. The fourth way is to cultivate all three.
Sure, master yourself. That's kind of the point.
How many times a day shoud you "master yourself."  |
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I wonder what makes them think that the growth of Bitcoin has to do with AML? Maybe the leniency for banks to do so.
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From Wikipedia it sounds like Yet Another Method of Inductive Reasoning (YAMIR). I don't have a problem with Eastern thinking, it leads to a lot of creative ideas, and usually attractive women.
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 He should have been POTUS. |
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If someone had offered you a piece of the internet back in the 1980's would you have invested? Probably not. Instead folks invested in ISP services like Compuserve. That's what is happening with Bitcoin. Folks are investing in mining rigs with much more than the 150M USD Bitcoin capitalization. So realistically, Bitcoin has a market cap of closer to 300M and is growing. When ASICs come out many miners will use the money they spend on electricity and buy bitcoins instead. Many more will get into the game and we'll see another surge in market cap.
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1. Start several nics
2. Make wildly random speculations on each nic
3. The nic with the highest success rate can invite investors to your "fund" or "newsletter"
4. Profit
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There is a lot of experimentation going on with hardware. There are theoretical models that point to the inevitability of global adoption. It is only a matter before the gearheads create the killer app. Then 1000 USD will fly by like road sign on the Autobahn.
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If a computer is designed that can hack Bitcoin, it will be used for more important things than making money. It will be used for predicting the consequences of butterfly wing flappings.
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For anyone else doing the Bible quiz, where are you getting the 1611 text? I've tried the following two: http://www.kingjamesbibleonline.org/1611-Bible/http://av1611.com/kjbp/kjv-bible-text/However, the spellings are not quite the same between the two. Sometimes a "u" is written as a "v" and sometimes a "v" as a "u". Other times, they're the same. In one, a word might have an "e" appended to the end, in another version, there is no "e'. It would take too much effort to go through all possible combinations. What do you guys think is the "official" 1611 version? Regards, 53v3r One of them is the KJV 1611 version and one is a modern translation. Lest it be clear for thou to knoweth the difference. There are other copies online as well. Make sure of your answers by checking multiple sources to be sure. |
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AHHH!!! I can't believe I missed this. My instructions are incomplete. When I said that modern spelling will be used, I meant only the questions, not the answers. The answers are as they appear in KJV 1611. I hope this did not throw anyone off. I will correct the intructions in bold.
I had already figured that out and was hoping that the only reason the bitcoins weren't claimed yet was that maybe I was the only one who figured it out. I suspect that others who have all the answers will quickly claim the reward now. We'll see. I'm not so sure. Not all the questions have easy answers. There are trick questions. These are meant to be solved through discussion by teams. |
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