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The government of Cameroon has implemented a centralized, insecure and potentially dangerous blockchain protocol and currency Trest in their project to enable the unbanked to transfer money quickly without transaction fees. Unlike Bitcoin, transactions on the Trest blockchain are not verified by miners or any entity incentivized by the network. Doesn't it look like the government is trying to rob its own citizens of their money?
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 Startup BuyAnyCoin (BAC) plans to sell prepaid crypto cards next to prepaid phone and debit cards in convenience stores. They're currently hoping to raise US$10,000 for merchant outreach and continued backend development. Would you buy such a card? |
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it's all about money. no matter where the miners comes from, they are looking for profit. no one wants to destroy bitcoin while they can make good money.
Well I guess it's not that they want to destroy it, right? You cannot kill the cow you are milking, but you can suggest changes to the equipment doing the milking to increase your chances to milk more than your competitors. Some people will milk the cow until it starts to bleed... for them it's all about profit... they do not care about the cow. They use their poor internet infrastructure and their government as a excuse, to justify changes to suite their situation.. They do not want to understand, that within a free market, everything goes. {The guy with the bigger guns, win} The change will be done, with or without them..... They have the option to choose, when a fork happens. The suggestion they have made, is also the option I would take, because it just make sense. {Do small changes, before bottlenecks are anticipated} That makes perfect sense to me. |
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Nice try, but I can't imangione Roberts doing just that.
The guy on the video looks too young and not exactly dread. My idea of Dread Pirate Roberts was somewhat different. |
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It specifically does not insure against individual users' bitcoins being stolen
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No one is promising anyone future returns here.
Also, I'd argue that there are in fact central figures promising returns. You have all the big names. Andreas Andbopogogpffopolus, Gavin Andresen, etc. They're all very much claiming that Bitcoin is going to be the next big thing. And they're all huge holders of Bitcoin. |
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No one is promising anyone future returns here.
Have a look at this recent survey. http://imgur.com/a/WcMIk In particular, pay particular attention to slide 13. So while there isn't necessarily a central figure promising returns, the attitude of the community as a whole is. The best terminology I can use to describe what's going on is that it's a 'Decentralized Ponzi' of sorts. Honestly, it's one of the most interesting things about Bitcoin to me. |
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bitcoins.com is on sale right now. This domain used to be operated by Mt.Gox guys, right? There used to be an informational website.
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What you'll actually find is that it's a law enforcement officer's dream. On a small level: yes, it requires no centralized point, and that's great if you want to transport value stores without regulation. The problem is that centralization is required for general purpose use. As soon as you have that, you have KYC laws coming into effect (check out the proposed BTC regulation in NY State from earlier this week). KYC laws + public ledger = much much much better than gold for LEOs (edit: or cash, frankly).
Well hopefully one of the alts can work out the anonymity thing eventually because bitcoin certainly isn't enough. |
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Do you want to ruin Bitcoin?
Because allowing fractional reserves would be a good way to ruin Bitcoin.
Too think off requiring 100% reserves as being anything other than one of the only positive requirements of these rules is nothing short of idiotic.
People should have a choice though. I would save 90% of my BTC in a "vault bank" and would take the other 10% and put it into a fractional reserve bank account hoping the interest payments made up for the risk. |
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I've been wanting to build a self-regulating meshnet using Bitcoin for a while now. Just put some Bitcoin into your router and it'll negotiate a path to whatever you want through whatever other routers it needs to use. If you end up providing more bandwidth than you take, you can end up financially ahead. You could even think of it as a better way of mining bitcoin, if you're one of those who fixate on the monetary reward without regard for its fundamental necessity to the network.
I honestly dont know shit about network traffic, but I dont need to to know how important this will be in the long run, and the beauty of our present society is that everyone is able to autodidact if he has a computer and puts his mind to it.. |
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I've been wanting to build a self-regulating meshnet using Bitcoin for a while now. Just put some Bitcoin into your router and it'll negotiate a path to whatever you want through whatever other routers it needs to use. If you end up providing more bandwidth than you take, you can end up financially ahead. You could even think of it as a better way of mining bitcoin, if you're one of those who fixate on the monetary reward without regard for its fundamental necessity to the network.
The problem would be creating local infrastructure to support a thriving network, but that is by no means insurmountable even for individuals a few countryside districts here in germany are doing this(im looking into german Freifunk atm) and the goto program for meshing seems to be Cjdns, according to /r/meshnet (im not quite so sure it is the best choice however) |
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I've been wanting to build a self-regulating meshnet using Bitcoin for a while now. Just put some Bitcoin into your router and it'll negotiate a path to whatever you want through whatever other routers it needs to use. If you end up providing more bandwidth than you take, you can end up financially ahead. You could even think of it as a better way of mining bitcoin, if you're one of those who fixate on the monetary reward without regard for its fundamental necessity to the network.
DO IT. This shit is going to become so important down the line, there is no doubt in my mind that once the powers that be figure out there is no stopping BTC and similiar tech on the software front, they are going to attack with more physical means. Access to a meshnet that allows connecting to the internet and to intranets would be a viable fucking business model if you could protect it from the state and its cohorts, it wouldnt even have to be some idealistic "free" setup, you could easily charge for it if it was cheaper and less hassle then getting barebacked by the usual providers. |
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Mobile ATM? it doesn't sound save. Are there any feedbacks?
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There are so many technologies that are enabling this springing to life around us, Ive recently heard that you can get a Mb/s over long-wave radio with the right gear?!
Things like this are equally if not more important than amazing software like Darkwallet, tumblers, p2p markets, etc.
Never forget who made the "internet" and do not trust fools that are throwing around buzzwords like "net neutrality" and "packet equality"
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Without a free internet, all of these projects will be short-lived. The most important goal imo should be the creation of a series of interlinked, publicly held meshnets, something that is already going on in many places around the world (taaki Uses GuiFi in spain f.e, an impressive network and a step in the right direction). We need to bring the same decentralization that is so highly lauded in the software world down to the hardware level.
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Interesting article, but I think it underlines that Darkwallet and even BTC itself are not the end all solution to the fucked up world we live in. We obviously need a sort of paradigm shift, which I do believe is underway to some extent.
I think our biggest problem is that the tool that is bringing about real intellectual change, the internet itself, is systemically corrupt. Every competent ITalien will tell you that the very backbone of the www is controlled by the powers that be, and this is the main reason why it is possible to surveil us all so "easily"
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I like their description of cryptocurrency. Sounds like a good definition for financial people to understand.
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If you give one of the private keys of a multisig address to another person, can he/she regenerate your other private keys because your wallet is deterministic?
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