Bitcoin Forum
June 24, 2024, 05:16:16 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Bitcoin / Bitcoin Discussion / Re: Protect Satoshi on: March 06, 2014, 08:19:31 PM
I propose we start raising funds in order to protect him.

Let me guess...we just need to send our bitcoins to an address you control personally.  Sounds legit.
2  Bitcoin / Bitcoin Discussion / Re: Raising BTC to protect this guy, even if it's not Satoshi he is in trouble!!! on: March 06, 2014, 08:05:03 PM
I hope nobody is foolish enough to give their money to this guy.
3  Alternate cryptocurrencies / Altcoin Discussion / Re: Goxcoin: New project to compensate victims of Gox and restore confidence in btc on: March 04, 2014, 09:16:26 PM
People need to learn how to distinguish their money from their emotions.

If you lost significant savings on Gox, I feel sorry for you.  But don't chase the money with another shady experiment.  Don't trust anybody but yourself.  Nobody is going to get your money back for you, except maybe you, but only if you are able to keep cool and make wise decisions.

When you first gained interest in bitcoin, the very first time you read that transactions are final, your mind should have immediately started assessing how you would keep your coins safe.  You should have judged your own personal ability to secure your coins before investing a penny.  And you probably did.  But you ignored your own common sense and left your wealth on a server, where every hacker and his mother is targeting.

Don't let the emotion of losing your wealth make you trust some altruistic ghandi who only wants to give you back your losses.  Keep calm and invest wisely.  And for the love of god, learn from your mistakes!
4  Alternate cryptocurrencies / Altcoin Discussion / Re: Should we start New Bitcoin? on: March 03, 2014, 05:37:53 PM
The reason for starting a new bitcoin is simple:
We can assume that 50% of all bitcoins mined are either held by wrong persons, or are lost.
A lot of people are burned by the MtGox theft, therefore they have nothing to lose on switching to a new coin.

If we start to use a new coin the miners can use their hardware to switch over as well, and effectively abandoning Old Bitcoin.
The value of Old Bitcoin will drop to zero which will punish preminers, thieves and FBI.

Bitcoin holders that will be punished most:
FBI: 10%
Satoshi: 10%
Thieves (from MtGox and other sites): 20%
Lost coins: 10%
Total = 50%



What about the people and businesses that still hold bitcoins from legitimate purposes?  Just because you personally got burned by Gox doesn't make BTC useless to everyone.  Many of us still have skin in the game.  If you would like to move another currency, feel free.  But you're going to have difficulty rallying everyone else to abandon the investments they hold just because YOU got burned entrusting your coins under the control of someone else.

Instead of moving to a new currency, how about practicing some of the security precautions that are posted in abundance all over the internet?
5  Bitcoin / Bitcoin Discussion / Re: An Exercise in Playing the Devil's Advocate on: February 12, 2014, 04:08:37 AM
My biggest worry (which I haven't seen addressed anywhere) is that the government could cause damage to bitcoin, not by attacking the currency itself, but by attacking the merchants who trade with it.  They could tax the trade of it so highly that it would be unfeasible for merchants to accept it, which I feel could cripple the currency.

I also feel like an outcome like this may be very likely to happen when the banks begin view bitcoin as a serious threat, since our government has essentially been captured by them.
Pages: [1]
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!