Weird thought:

With more computing power than the world's top supercomputers combined (Bitcoin network over 1 PETA hash/second now!), and growing stronger by the second, when will Bitcoin become sentient (self-aware) and enslave mankind?

And will that mean 2 mBit hookers on every street corner??

First off, thanks for all the Ripple support and great info.

When you "un-pause" the $5 giveaway, here's my Ripple Wallet address:

rnk4gtmRC8VwFiQrxCu68tYKJMwunT5VZz

...meanwhile, I wanted to share some Ripple basher comments (from my "BTC only" friends):

"Ripple is the dark side, man.  It's like a digital form of a central bank!"
"Pre-mined means Ponzi scheme!"
"Decay/destruction vs. controlled mining?  No comparison for deflationary evolution!"
"Dealing with the fiat enemy is like being a traitor to the cause!"

I have a logical rebuttal for all the above, but usually the above statements are during a "collective monologue," not a real two-way conversation.  The bashers only want to pontificate, not listen.

My patent response?  "Imagine that..."

What are your thoughts out there?

Wow! That was very fast!

Thanks much.


rnk4gtmRC8VwFiQrxCu68tYKJMwunT5VZz

rnk4gtmRC8VwFiQrxCu68tYKJMwunT5VZz

Salamat Po.

Please don't discount the human tendency to access memory through tangents (the natural neural network framework).

It is the foundation of creativity and has incubated the beginnings of all the technological breakthroughs in recorded history.

For example, while working on secure communications, Dr. Merkle - of the Merkle tree fame - first proposed the hash of a hash security process that happens to be the basis of the double SHA256 encryption algorithm that our beloved Bitcoin is based upon...

So please, a little tolerance of off-topic submissions might promote innovation - and probably another thread?

Cheers,

JaiChai

My question is:  what about non-US bitcoiners?

Athough I am in Asia, I am lucky that I still have a US bank account.  Accordingly, I bought my first BTC through Coinbase.

My local friends don't have that luxury.

And the local Bitcoin sellers here charge outrageously high premiums...

If I could afford to sell them my BTC, I would.  But almost all of mine are used for trading on the major exchanges.

Anything like the above program available in Asia?

I'm currently exploring ZIPZAP and RIPPLE (sacrilege?) to solve both the cash in and the cash out problem in Asia.

Interested in your thoughts...

JaiChai

One-way BTC ATM's are easier to implement than two-way ATM's (I.e., fiat to BTC AND BTC to fiat); mainly because most countries do not recognize BTC as a legit  currency.

As far as most see it, you are buying tokens akin to buying tokens for gaming machines at an arcade plaza.

When trying to do BTC to fiat, that's when things are peculiar.  Every country is different.

Unfortunately, to be prudent, you need to consult an attorney that is versed not only in your country's business/financial law, but who is also BTC knowledgeable (good luck on that).

Maybe that's why Lamassu's desktop BTC ATM, ~$5000,  is currently a one-way (fiat to BTC) system?

JaiChai

When we are all out of "newbie jail", let's please stay touch...

After months of explaining the "why" of cryptocurrencies to newbies, I'd really enjoy just talking about the "how" with other experienced enthusiasts.

Just remember, we were in "newbie jail" together, mates (amigos)...

JaiChai

As many experts believe, Altcoins are the best laboratory for new features to BTC.

True Altcoins can experiment with things that BTC needs, without disrupting the original blockchain.

Beta coins, on the other hand, will build upon existing BTC protocol and bring "zero trust arbitration" to many other aspects of our lives (e.g., proof of existence, copywrite, contracts laws, mortgage laws, DNA, etc.).

Andreas Antonopolous said, "Changing BTC core protocol is like like repairing a jetliner while in flight."

Altcoins sell things that BTC currently doesn't provide.  But that doesn't necessarily mean BTC dev s cannot , or will not, incorporate in the future...

Greatest symbiotic example is Litecoin (the silver to BTC's gold).

Cheers,

JaiChai

New to forum, not crypto.

I guess we all are required to pay our 4 hour browsing/5 post dues?

Anyway, nice to see another experienced enthusiast with a modicum of patience to endure this waiting ritual.

Cheers,

JaiChai

Waiting to get white-listed reminds me of doing faucet captchas all day to make 4 cents.

I hope this forum provides more than 5500 satoshi's worth of info for 4 hours browsing and 5 posts (meaningful or not)?

Or should I keep visiting Bitvisitor?  At least you can walk away from your computer...

Hmmmmm, guess I have no choice, huh?

I thought Bitcoin represented a move away from centralized authority and more towards DAC's (digital autonomous corporation, benevolent algorithms, etc.)?

In short, usually when some authority says they want to protect you, it means you pay with less freedom.

Just ranting while I too wait...

JaiChai

I agree with the initial impact of an altcoin's name (I.e, junkcoin?).

But some alts do propose some interesting strategies.  Some have built-in inflation to encourage spending and discourage hoarding.  FREICOIN

Some have multiple rounds of multiple hashing algorithms - supposedly for security. QUARK

Proof of stake vs. proof of work.  PEERCOIN

Premined with built-in destruction during every transaction.  RIPPLE

Funding for open source, writing, etc. projects.  DVC

Yes, there are and will be many Altcoins.  Just be sure to check out their raison d'être, creator's rep, and community support before speculating on them!

For sure, the altcoin landscape of next year will have many RIP's, stalwarts, and hungry newbies.

Cheers,

JaiChai

Hello,

I like Altcoins too, especially Litecoin.  It compliments Bitcoin and can incorporate features faster.

Charlie Lee is the creator and he is with Coinbase now.  Who knows? Maybe Litecoin will be on Onbase before Mt. Gox?

Cheers,

JaiChai

Hi Louis,

That's great that you have witnessed actual BTC payments at the cafe.

I'm in Asia and have not seen a BTC accepting business here...yet.

Cheers,

JaiChai

New here too.

I think the newbie rules are restrictive.  I missed out on an XRP giveaway because of them...

Been trading cryptos for awhile.  It reminds me of FOREX in the 80's.

Lots of fun.

Cheers,

JaiChai