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Just an update. The guy who posted the original post that sparked this argument deleted it.
So the link is now bad and as far as I know the argument is forcibly over.
Thank you guys for all your help. Although we didn't convert someone (it was probably hopeless from the start) I think we did make a good argument.
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I'm not moving goal posts, it is a worthless system. It's impossible to secure (see previous points) due to lack of authority to prevent theft, stability is only as big as to the next security issue, the cost to maintain properly goes beyond every other monetary system for the common man when you take into account everything involved, in particular, security, electricity, running systems to compute the hashes etc. Have you ever looked into the security of centralized systems? Look at what happened to VISA, Mastercard, and Paypal just last year.
And although the cost to maintain the network may be high, people are willing to do it. We are in the world records (guiness). |
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You keep moving the goalposts. First you say Bitcoin is worthless. Then you say you dont put resources into it; in other words, it is worth something, but you choose not to try and mine Bitcoins. Then you throw in the red herring of security. This has nothing to do with wether or not Bitcoin is worth anything. Then you say there is no central authority "that can stop people from performing theft." There is no central authority that can stop the theft of anything in the world. Also, if it is worth nothing, why are people so busy trying to steal it? These are absolutely pure fallacious arguments.
You say that, "stability of Bitcoin will only remain until another large scale hack occurs". What you have done there is substitute 'stability' for value. You had to do this because if you say 'value' or 'price' of Bitcoin, you would be contradicting your previous assertion that 'Bitcoin is worthless' It cant be worthless and have a market value at the same time, obviously.
You then say "The lack of central authority means that to deal with any theft... Batman". With cash, the same is true; Bitcoin is no different in this aspect. Another straw man argument.
Finally you say that you are not capable of using Bitcoins, and that using them is like keeping money in box in front of your house. Poor analogy aside, what is the problem with keeping a 'worthless' thing in a box in front of your house? Surely no one is going to steal it, and even if they did, why would you even care, since Bitcoins are 'worthless'? If you have a mailbox outside your house, the mail man leaves your mail in it for you to stroll down and collect; anyone could go out and steal it, and yet millions of people collect their mail in this way, with only a statistically small number having their mail stolen... but I digress.
The fact of the matter is, you just do not like Bitcoin. You admit you are not capable of using it. You do not like the fact that it is not issued by a government (a central authority).
All of this is perfectly OK.
What is not OK, is to claim that Bitcoin is worthless, because this is simply not true. Whenever we make arguments against something, it is important to be consistent, otherwise its hard to take the arguments seriously.
Bitcoin, like the different browsers that people use, will be adopted by some and rejected by others. This is how the market works.
The people who said that the internet would never take off, all look very silly now, and in the near future so will all the people who used faulty logic to dismiss Bitcoin today. They will all end up using Bitcoin, just like all the people who said the internet would amount to nothing who now use it on a daily basis. I think he summed it up much better than I could have. Thank you. I think that may wrap up this argument, I know I wouldn't try to argue with that. If the opposition posts something else, I'll keep you guys up to date. |
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But as it is a public post on Google+ other people may see it.
I don't want them to just hear his side. So I want to put up a good argument. Although what he has put up has me stumped. Mostly because I don't want to get into how to properly secure your computer and I don't feel it would do any good to point out that no matter what the software you can't protect against zero-day exploits.
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Public page: https://plus.google.com/114671721881901481251/posts/LMP1nJVJ5fe+Derric Atzrott, the stability of Bitcoin will only remain until another large scale hack occurs or when numerous small ones happen within close proximity of each other.
My IDS has detected numerous times Metasploit type exploits being used against the specific static IP address of the computer running the Bitcoin software on it, as security aware as I am, I can't deal with that shit. I cannot protect a desktop system against zero day exploits that get added to Metasploit. The best I can do is to have an isolated netbook that is only connected to the network to make transactions with everything firewalled, which would not be good for the network if everyone did that. Even that isn't free of being exploited, but the minimum cost in my eyes to do this is plainly insane.
The lack of central authority means that to deal with any theft, you're pretty much screwed unless you're batman, especially because of the anonymity inherent in Bitcoins. Sorry, I don't consider that a feature.
Much like you said, I wouldn't leave my physical wallet out, it has to be kept safe. I feel the same way about any digital currency, I do not believe I am capable of keeping any bitcoins safe with the sort of nefarious activity from people, so I wouldn't put any money into Bitcoin. because it's like putting your money in a box (add locks and such as necessary to represent your security) in front of your house. Someone might still open it and walk off with it. |
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I just got into an argument about Bitcoin on Google+. I want to make sure that I win this, and hopefully convert someone who didn't like Bitcoin into someone who does. Bitcoin is worthless. Messaged you a bet. Put your money where you mouth is.  I had messaged him a copy of the Memory dealers bet (Google it "Memory Deals CEO Bitcoin $10,000). I offered to put down some money (no where close to $10k) on the same bet. I do put my money where my mouth is, it's not on bitcoin at all. I don't waste server resources computing hashes. I don't have to deal with the exchange scam/exploit/hack of the month which devalues the 'currency'. I don't have to deal with security issues from people trying to exploit my desktop systems to access my wallet files - there isn't even an authority that can stop people from performing theft. I place no value in bitcoin, because the cost to maintain it far outweighs any monetary gains or existing monetary handling systems. No central authority == feature.
Bitcoin has actually stabilized because of those hacks. It now has more trading volume than ever, the exchanges are seeing more depth, and the price has remained fairly consistent ($10-13) for over a month now. The hacks scared off all the investors who were just trying to make a quick buck.
Your wallet file is just like your physical wallet. It has to be kept safe. You wouldn't just put your physical wallet on the seat next to you on a crowded train would you? Likewise you (if your smart) wouldn't leave your wallet unsecured on your computer when connected to the "crowded" Internet. I am pulling this information from a recent talk by the Choas Computer Club. Also Googlable. I'll add links later to where I got it. I would like to (with the help of the community) examine his possible arguments and ways to refute them. Along with additional ways to refute his current arguments. I would like to keep this argument civil and logical (although I realize my response was a poor example of this). |
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I work for a Credit Union.
As far as I know, all Banks have continued to be FDIC insured and all Credit Unions have continued to be CUNA insured.
Banks and Credit Unions pay an insurance fee every year, just like you do for your car, to get this insurance. And just like your car insurance, they are required to by the law.
(Note: In MD cars are required to be insured to go on the road; other states may vary.)
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Shouldn't this be in the marketplace section?
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Maybe I should start mining test net.
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Rick Falkvinge (founder of Pirate Party) had an idea on how to create a distributed web of trust system somewhere. I remember reading it once, at least I thought it was him.
I'll put some more effort into finding the URL later. He based it off something he read in a book... but modified it some. It sounded exactly like what we need here as a formula for something like this.
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Or if you are dead set on the actual testnet you could set gen=1 in your bitcoin client for the testnet.
I can't imagine the difficulty is too high in the testnet.
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I think by static addresses he means when the wallet is created generate 100,000 addresses or something crazy like that, then make no more.
Then a wallet backup is good for the (now limited) lifetime of the wallet.
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I think it might be more complicated then it looks on the surface because then it would take only 4.8 hours on average for a big pool such as deep-bit to plant invalid transactions and hack system with 3 confirmations, 11 hours to hack 4 confirmations, 26 to hack 5 and 60 hours to hack MtGox with 6 confirmations.
That's probably why it's bad if any single pool has close to 50% of the total hashing power. Deepbit's the only pool I know that has managed to strung 6 or more blocks in a row during the time I was recording down who found the blocks. In just the 1500 or so blocks, they had 4x 6 blocks run and get this: an 8 blocks run. That said, it would still be hard for them to execute such a scam because there's no way for them to predict/guarantee they will get the next X blocks in any run. If they tried it repeatedly, I think it would be quite noticeable due to an unusual number of reorgs happening. That said 4 and 5 blocks runs were quite common so Deepbit could possibly take a realistic gamble on hacking 2 or 3 confirmations. I think it's more profitable to stay honest and rake in all those fees than try to spoof the block chain. Especially if it works and they get caught.Bitcoin will be declared worthless by the world. For now. In future years, generation rates will become low and fees will remain meager. Alternative revenue models will become more attractive. In the future, generation rates ought to be low enough that no one could possibly do this again. Serith: If I understand the system correctly, Deepbit could cheat the system. |
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So what you are looking to do is import and export keys from your wallet?
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I'm available for this. I have an IP in the U.S. I also have access to an IP in Sweden.
Edit:
Didn't look at the last post time. Didn't mean to res this topic. I'll PM the OP.
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Great App. I use it every day to see the new news.
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Or if you want a more stable price, use BitcoinCharts to get the weighted price for the past week or so. That is the average price during the past week. It changes a lot more slowly and isn't subject to the wild fluctuations of the market.
(For even more stability you could use the weighted price for the past month, but then your price might be a bit out of date.)
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I'm not quite sure I understand what you mean.
Can you explain further?
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Yes. I made sure to extract the deps folder from the archive into my minigw folder. Making sure that the files were copied properly. Below are the outputs of tree if you would like to confirm this for yourself. Here is the output of tree run on my minigw directory. http://pastebin.com/p7B1QeVfHere is the output of tree run on the deps directory from the archive: http://pastebin.com/dDjhHJHX |
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Having trouble building the client for Windows. Below is part of the compiler output: ..\laanwj-bitcoin-qt-0a76546\src/headers.h:37:28: error: openssl/buffer.h: No such file or directory
..\laanwj-bitcoin-qt-0a76546\src/headers.h:38:27: error: openssl/ecdsa.h: No such file or directory
..\laanwj-bitcoin-qt-0a76546\src/headers.h:39:25: error: openssl/evp.h: No such file or directory
..\laanwj-bitcoin-qt-0a76546\src/headers.h:40:26: error: openssl/rand.h: No such file or directory
..\laanwj-bitcoin-qt-0a76546\src/headers.h:41:25: error: openssl/sha.h: No such file or directory
..\laanwj-bitcoin-qt-0a76546\src/headers.h:42:28: error: openssl/ripemd.h: No such file or directory
In file included from ..\laanwj-bitcoin-qt-0a76546\src/headers.h:59,
from ..\laanwj-bitcoin-qt-0a76546\src\qt\bitcoin.cpp:10:
c:\qtsdk\mingw\bin\../lib/gcc/mingw32/4.4.0/../../../../include/boost/foreach.hpp:66:28: error: boost/mpl/if.hpp: No such file or directory
c:\qtsdk\mingw\bin\../lib/gcc/mingw32/4.4.0/../../../../include/boost/foreach.hpp:67:32: error: boost/mpl/assert.hpp: No such file or directory
c:\qtsdk\mingw\bin\../lib/gcc/mingw32/4.4.0/../../../../include/boost/foreach.hpp:68:33: error: boost/mpl/logical.hpp: No such file or directory
c:\qtsdk\mingw\bin\../lib/gcc/mingw32/4.4.0/../../../../include/boost/foreach.hpp:69:33: error: boost/mpl/eval_if.hpp: No such file or directory
c:\qtsdk\mingw\bin\../lib/gcc/mingw32/4.4.0/../../../../include/boost/foreach.hpp:71:31: error: boost/range/end.hpp: No such file or directory
c:\qtsdk\mingw\bin\../lib/gcc/mingw32/4.4.0/../../../../include/boost/foreach.hpp:72:33: error: boost/range/begin.hpp: No such file or directory
c:\qtsdk\mingw\bin\../lib/gcc/mingw32/4.4.0/../../../../include/boost/foreach.hpp:73:32: error: boost/range/rend.hpp: No such file or directory
c:\qtsdk\mingw\bin\../lib/gcc/mingw32/4.4.0/../../../../include/boost/foreach.hpp:74:34: error: boost/range/rbegin.hpp: No such file or directory
c:\qtsdk\mingw\bin\../lib/gcc/mingw32/4.4.0/../../../../include/boost/foreach.hpp:75:36: error: boost/range/iterator.hpp: No such file or directory
c:\qtsdk\mingw\bin\../lib/gcc/mingw32/4.4.0/../../../../include/boost/foreach.hpp:76:44: error: boost/range/reverse_iterator.hpp: No such file or directory
c:\qtsdk\mingw\bin\../lib/gcc/mingw32/4.4.0/../../../../include/boost/foreach.hpp:77:42: error: boost/type_traits/is_array.hpp: No such file or directory
c:\qtsdk\mingw\bin\../lib/gcc/mingw32/4.4.0/../../../../include/boost/foreach.hpp:78:42: error: boost/type_traits/is_const.hpp: No such file or directory
c:\qtsdk\mingw\bin\../lib/gcc/mingw32/4.4.0/../../../../include/boost/foreach.hpp:79:45: error: boost/type_traits/is_abstract.hpp: No such file or directory
c:\qtsdk\mingw\bin\../lib/gcc/mingw32/4.4.0/../../../../include/boost/foreach.hpp:80:53: error: boost/type_traits/is_base_and_derived.hpp: No such file or directory
c:\qtsdk\mingw\bin\../lib/gcc/mingw32/4.4.0/../../../../include/boost/foreach.hpp:81:46: error: boost/iterator/iterator_traits.hpp: No such file or directory
c:\qtsdk\mingw\bin\../lib/gcc/mingw32/4.4.0/../../../../include/boost/foreach.hpp:82:39: error: boost/utility/addressof.hpp: No such file or directory
The full log can be found here: http://pastebin.com/uAfe97mKAny ideas? I presume it is probably a fairly simple problem stemming from the fact that I have no clue what I am doing here. |
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