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SUCCESS! Bitcoin at this time was still at the front page of FSDAILY!
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No, it's incompatible if just a few people change their behaviour. To roll out a change to the network you need to get most of the clients understanding both the old and the new protocol, and then when you have a majority you turn on the new protocol.
You just described a whole-network upgrade. I'd call that an incompatible change  The effort to raise the transaction rate limit is the same as the effort to change the fundamental nature of bitcoins: convince the vast majority to upgrade. If we upgrade now, we don't have to convince as much people later if the bitcoin economy continues to grow. |
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The gender say it's a male. ups.. just looked at the photo and it looked like a woman.. There are like 4 Satoshi Nakamoto on facebook, yo! There are nothing to connect even one of them to Satoshi of bitcoin fame! |
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The bitcoin market has picked up in volume massively over the past 48 hours. We are almost at an all time high volume. Let's see that sign this will bring... https://mtgox.com/trade/historyHigh volume! Not much fluctuation in price, for now. |
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No email from the EFF?  Maybe ya need to send a letter until it get noticed by the EFF people. |
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I disagree. If you were trying to hide you would choose the most common name available. I doubt it was an alias. He wouldn't have picked such a rather boring alias, anyway. He would have chosen some cultural reference of some sort. Not a plain common japanese name.
Razor Theorem say that it's his real name. His life are probably typical of that of an average hacker. |
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The gender say it's a male. |
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If the Bitcoin economy becomes too dominated by criminals it will hurt Bitcoin's reputation.
It's a feedback loop. Bitcoin will attract criminals. It is inevitable. These criminals will be sensationalized on the news which will scare away legitimate business and attract more criminals. We have to be prepared for this. Indeed. There is a risk that bicoins becomes used *only* by criminals. I'm sorry to say that, but even in that scenario, I'll keep using bitcoins. Not to buy stuffs, but to store value and avoid taxation (which I DON'T do right now, but might in the future). A declaration of saying that you're going to avoid taxes is a bad idea. |
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No volunteers? We're doomed!
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You are not taking all circumstances under consideration..
And the most important one is: QUANTUM COMPUTERS.
The goverment always has everything much faster than the rest of the world (example: they had Internet at least 10-15 years before the public). Scientists currently say, that quantum computers are a matter of 10 years. So what if government is 10 years ahead of everybody else, and they have the Quantums already ?
I think this possibility should be SERIOUSLY taken into consideration. Perhaps the length of bitcoin cryptographic keys should be increased 10-fold to account for that (but this won't be enough to protect us from quantums anyway, so that may be actually pointless).
EDIT:
However, increasing the length of crypto keys 10-fold would surely postpone the inevitable downfall of all hashes & current cryptographic algorithms in case of quantum comps are invented. That would give us bitcoiners more time to adjust & perhaps invent some defense.
Given that scientists cannot create much of a quantum computer, I don't see how the government can possess that kind of technology. |
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Wow, it's already 1425 bitcoins already.
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Did they attempt to sabotage their own movement or something?
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Maybe we should just ask Satoshi why he did it.  |
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So, is Bitcoin money? No, it isn't. It doesn't WANT to be money either! And it isn't the world's police force for monetary fairness, either.
So, let's stop claiming that it is!
What would economic think of bitcoin as? The most obvious conclusion that it is MONEY because it serve the function of money. If you intended to ask what economists would think Bitcoin was, then I can certainly say that the answer would be a currency. No economist who ever stated that Bitcoin was a money in any serious capacity should ever teach students again, and could never expect to get a paying job outside of academia, with the single exception of the New York Times. But the last I checked, the NYT already has such a pretender on the payroll. What is the difference between currency and money? My dictionary research yielded that currency is a current medium of exchange and that money is a medium of exchange. Since, people are actually using it as medium of exchange, therefore, it is both money and currency. |
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What I like about cryptocurrencies, whether it is bitcoin or any other yet-to-become major cryptocurrency, is that it is impossible to steal it, unless you use torture.
I know very few theftproof things. Actually I don't know any of them.
I can put some gold in a safe, but any thief with appropriate tools can open any safe. I can hide it somewhere in a desert place, but anyone could just find it and take it.
Real estate is so easy to steal if not protected by public force. Diamonds are small so you can easily hide them, but still, it's not perfect. I've heard that during WWII, some jews hid some value using very rare philatelic stamps. It's good, but not very reliable, imo.
Cryptocurrencies are theftproof, as long as cryptographic functions can not be broken. And so far, they can't. Therefore the only key to access your wallet, is the passphrase you stored in your mind.
If I'm right, if cryptocurrencies are really theftproof, then they are priceless.
Somebody must crack your computer's security or social engineer their way to get a copy of your wallet. However, if you spend your money first, than it doesn't matter what the criminal do. Cryptographic functions are the hardest to break, but other things are much easier. |
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So, is Bitcoin money? No, it isn't. It doesn't WANT to be money either! And it isn't the world's police force for monetary fairness, either.
So, let's stop claiming that it is!
What would economic think of bitcoin as? The most obvious conclusion that it is MONEY because it serve the function of money. There used to be people who use giant rocks as money, shells as money, cows as money, etc. Money arise naturally out of a barter economy, and advance from there. From there, we see that gold, salts, and other commodity evolved into money over time. Hence the phrase as "This guys is worth his salt". Money is not some legalistic conception that arise out of king saying "THIS IS MONEY, USE IT OR DIE". Bitcoin is as bitcoiners do. What silverman seem to be doing is conflating legalistic thinking and strategies with the economic science. |
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I consider that economic definition take precedence and importance over legal definition. End of story. Government are not forever. The rules of economics are. Government are authorities. Economics is a science. You cannot nullify the concept of economic scarcity even when we entered a non-scarce economic reality. You cannot nullify truth. I'm giving these statements a very shallow treatment, but so far I see no compelling reason why we should not put an imaginary wall between what is Bitcoin the program, and what is Bitcoin the community, the traders, and the economy.
If we make this distinction, we will see that there is no need for Bitcoin to ever go over its wall, to meddle in the "proper" use of Bitcoins, to decide how much a Bitcoin may be "worth", or to enforce private contracts.
And I think that is a good thing.
Nobody is advocating on how to decide how much bitcoins is worth, what the proper use of bitcoins is, etc al. What people like me are doing is trying to DESCRIBE REALITY aka scientific definition, not prescribe some rules that bitcoiners shold be following. |
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Make a contract. Enforce it in a court.
The court provide bad services. |
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Make a contract. Enforce it in a court.
Note that Bitcoin is just a system of accounting, and could be used for purposes other than trade. To call it money, or cash, or "worth" something is to complicate it needlessly. If someone wants to trade bitcoins for Pesos, or for Yak fur, or just hold on to them, that is their free choice. All trades are ENTIRELY SEPARATE FROM THE BITCOIN SYSTEM. Keep it simple, people! There is no reason to put Bitcoin into the commercial arena, with the accompanying legal meathooks. There is no reason to call Bitcoin money, or cash, or to say Bitcoins are "worth" X number of dollars, because they're clearly not; Bitcoin is just a P2P, distributed accounting system. Nothing more. The problem is, people act as if X products are truely worth X bitcoins. They trade bitcoins for dollars and euros and the like. They also buy and sell using bitcoins. People calculate if their business in bitcoins is thriving or not. What people believe partially make up economic reality. People do not make arbitrary distinction about trading being completely separate of bitcoins. Money is not defined legally, because money is a being of economic nature. It does not matter if crooks declare bitcoin to be not money. It's a legal fiction completely irrelevant to the true economic nature of bitcoins. |
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