Ok, who is saying who is guilty of overboard generalizations here? I never said I wanted to be my own bank. Nor did I say that you thought nobody would want to be their own bank. My comments weren't even directed exclusively at you. Check that vanity. The point I was making, is that while you and some other individuals enjoy easy access to credit, or might not be interested in being their own bank, there are others without all the same services and conveniences that would find the prospect to do so very liberating and highly beneficial. Making an argument that bitcoin has failed; it has no use; every function is already sufficiently provided for by another service so nobody could possibly want it is a very short sighted, ill-conceived point of view. Before you can feel accused once again, I'm not implying those perspectives are your own, but they are present here and using parts of your comments served to illustrate a point.


Want some overboard blanket statements?


Did I suggest the inevitable demise of USD and bitcoin being our only salvation? No. Bitcoin is a tool that has the potential to assist in liberating and benefiting people everywhere, whether in economic turmoil or not.

Thank you for the thorough explanation.

Even if reliance on another service to provide the identity as the ownership of a particular piece of media might be a point of concern, it certainly makes a lot of sense to tie that to a social media outlet, such as twitter, as content creators likely already use these systems in connecting direct to their audience.

This is the first I've heard of a project in development with such an aim, and I love the idea. Excited to see this project in practice.

Best of luck!

No, telling people that bitcoin has maxed out it's technological potential is like walking around in the '80s and telling people the internet has done all it's ever going to do.


No, it solves a problem that you don't have. No, none of you are interested in being your own banks. Of course, you would never think of putting more than the FDIC insured amount in your account. But this isn't about any of you. Your living conditions, opportunities, the way you think or behave is very likely NOT shared by every one of the other 7 billion people on the planet. You all seem to suffer from the same projectionist delusion.

Stop the generalizations and this ridiculous either/or argument. Credit Card OR Bitcoin? Bitcoin OR Fiat? If you don't personally see bitcoin as a benefit to you in your little world, then you're probably fortunate to live in a place where you have many choices of payment options and credit can be found every 300 ft if it's not already waiting for you at your house. Over half of the 7+ billion people on this planet do not yet have access to the internet, but that is changing. About half live out their daily life without ever interacting with a financial institution, due to inaccessibility, corruption, cultural tendency, etc. Forget how many total people that leaves that do not hold credit cards or even have access to credit. Of the well over 3.5 billion people that don't have your privileged financial instruments, can you imagine that there just might be some that would see a tremendous benefit to buying/holding/spending a global currency not debased by their corrupt government within their corroding inflated economies? And you can't argue that bitcoin is mainstream, or that everyone in the world has been given the opportunity to understand, acquire or use it...



Or what of the immigrant workers sending money overseas to family? That's a $500+ billion market being relegated to an antiquated, monopolized, overpriced and time-protracted industry.

Credit card fraud. Identity theft. Consumer data breaches. Sure, credit card companies can continue patching the leaky pipes, but will you allow yourself to be convinced that this time it's different and these will be the patches that stick for good?

There are very valid reasons for credit and there is a place for it in our society. However, debt money is not the wisest choice for every financial transaction conceivable. In fact, credit has created a stigma in generations of people that spending more money than they have is 'ok'.


So just keep borrowing?

Ahh ..so you measure success vs. failure in terms of USD. So you believe bitcoin's sole use is as a speculative vehicle by which more USD can be obtained?

And way down from what? December '13? March '14? if you're comparing to those periods of time, you're not worth arguing with.

Very interesting project!

...but I'm a little confused:

-how is a digital identity associated to the media's published fingerprint? Where is the metadata on the digital identity; only the fingerprint of the file is broadcast on the blockchain, correct?

-once the media file itself is published, say a personal website, social media page, or distributed via a file sharing service, how is the ownership information recalled and displayed on the media consumer's end?

Forgive my ignorance if I'm just missing these things.

This is precisely what I was looking at. It isn't a fair comparison to take the peak of December, during speculative fueled frenzies and say we are down from there. I can do that on any chart for any market to create a skewed perspective. Between the months of January and March, we were still dropping to find our real bottom. Bitcoin was still discovering it's "actual" price (by actual, I mean absent short-sighted speculation). Gox implodes, there's another rush and we find a new bottom. Only short term speculators want explosive, impossible to sustain appreciation. Since May now, we've had slow, but steady growth.

Look at 30 day, 60, 180, 1 year ...each and every one is UP. Contrary to sublime's comment that I was replying to, no ..it simply is not falling, and that was my point.

How is it not when everyone can host a node? ...because un-industrialized operations can't compete in the mining business any longer?

Who said it was? You've been mislead. In fact, the whole idea is that every transaction IS public knowledge.

Maybe we have different concepts of easy. I've personally found it extremely easy; I've sold OTC, bought and sold on market and fixed rate exchanges, used at brick and mortar as well as online. Every time so far, the transaction has been simple, fast and without issue. What makes bitcoin difficult for you to use?

I am beginning to think that you might just be a bitcoin bull deep down, Xiaoxiao. For how much misinformation you provide and the frequency with which you provide it, you may very well be a positive force in causing people to provide and formulate rebuttals to your arguments, thus strengthening and broadening an understanding of bitcoin. For that, thank you.


Edit:Yes, I like your vision! Love that bitcoin is so much more than a currency, but a powerful, multipurpose token as your scenario nicely illustrates.

he may be referring to volume instead of number of transactions:

https://blockchain.info/charts/estimated-transaction-volume
..however, he's still incorrect.

it has, in fact, about doubled in the last 60 days:
https://blockchain.info/charts/estimated-transaction-volume?timespan=60days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

aw come now, don't hush his advocating for such a cause as saving the whales.  

Personally, I wouldn't call this a shit year for bitcoin. Whether you've seen the year as a success or a failure is only a measure of your expectations against reality, but given this is in the speculation sub. with a perspective based on price, I do see your point.


This pretty much sums up my opinion. The catalyst for the previous meteoric rise was popularity fueling speculative investing. The foundation for such prices was not there, and when speculators looked around the room to only see more speculators, the bottom dropped out. That is why the plethora of good news we've had this year hasn't impacted price in an equally staggering way -reluctance.

What's exciting then to consider is that $1200 was attained on almost entirely hot air. What is going to happen when the infrastructure beneath bitcoin is further developed? When B2B transactions are facilitated in btc? When couch-potato joe discovers how easy, and cost efficient using btc can be? When the infernal USD<>BTC loop is narrowed and bitcoin becomes an independent ecosystem?

Edit: Forgot to give my answer to the ATH question, if it wasn't already clear. Yes, I expect many new ATHs. Only a matter of time...

...ask a multiple choice question; get answers that aren't among the options given. lol

Sure, bitcoin could fall hard to double digits. Your conjecture is as good as anyone else's, but I personally don't find such low figures very likely. In my un-mathemagical estimation, I place the bottom somewhere around $250. I'm not predicting it will go that low, but that is the lowest I believe it would. Despite some here "knowing" that bitcoin is bust, only time will tell and prove one arbitrary guess more accurate than another. Your reasoning, however, is what I find more interesting...


Since when does wall street wear their hearts on their sleeves? They show you what they want you to see. Personally, I'm more likely to take wall street's claimed positions and favor the diametric perspective.


And these things make me feel even better about bitcoin. Average joe and the smart ass on the street have historically never been good indicators of innovative potential or financial success options. You're referring to people that are remarkably behind the curve in such an extreme way, that by the time they finally do come around to understanding and practicing within a given paradigm shift, the opportunity for financial investment in the catalyst is long over. All those shouting bitcoin is already mainstream, don't understand what the hell they are saying -not even close.


Institutions invested. Yes. Speculators looking for a quick buck. Definitely. Cultists with blinders hoping for unrealistic realities. Of course. Opportunists. Manipulators. Leaders. Lemmings. Look at any technologically innovative point in time in which the human species has created something they haven't seen before, and you'll find the exact same people at the party.


And that is all that's needed to change the world.

Is this your ONLY source to have turned what is an unprecedented technological development into "rotting worthless shit" in your eyes?

Nobody will deny that there aren't threats or vulnerabilities. Name ANY system that is 100% secure, please. To believe BTC is impervious is sheer delusion manifest by desire. Having said that, all the bitcoin breaking fears of the 51% attack given in your source have rebuttals and you can even find them ON THAT PAGE, if you bothered to read the amateur comments given as well instead of taking the article written by 2 individuals as inerrant gospel. Even the propositions they give of the subtle attacks requires some entity to defy mathematical probabilities so unlikely, and continually becoming further unlikely, that panicking now and claiming the "scam has failed" only shows an inept understanding, borderline thought disorder. In every case of "evil" potential given this "evil" intending party with >51%, not to mention they technically wouldn't even need 51% to pull off many of these things, they would have to hold this dominance for an extended period of time, and theoretically at least give the impression of permanently holding it as well.

Is this why you're panicking?

Of course, your kind-hearted and altruistic inclination is clear...


is this abrasive, insult laden ranting normally how you try to convince people to your way of thinking? you've certainly been busy the last couple days, and you know what they say about people with the loudest mouths in the room...?

HAHAH....

...oh my, you are quite the flip flopping polarized character! You might want to see a Dr. if your prescription has run out. And to think you've said this to your prophet of all people! So violence. Much psychopath.

Maybe you should learn more about what it takes to pull off a 51% attack. A helpful hint: it'll take a hell of a lot more coordination and luck than merely obtaining 51% of the hashrate.

Who is a larger fool? The man that makes a decision based on the evidence at hand, or the man that entrusts that decision to someone else? ..particularity an anontard with "exclusive" info.

I have some insider info as well, that's every bit as legit as yours:

Excellent point. I can already shit in a bedpan and take it out in the morning. Who needs running water?

and I would just like to remind you....

instead, we're to take your word you have some insider info from some big movers. mmmkay 

..thought this was a gem. What happened to the ideal behind the protocol? Did the whales also convince you there was no protocol? *gasp

...well, you do look like an ass, so you could have fooled me.




...you are so full of hypocritical shit. Thanks for playing.

You are quite the piece of work, Sevvero. You are here to help people save money, then scream insults at them.

Where are your sources? Analysis? These guaranteed infos?

Oh, I know some of the right people too. They tell me as soon as price touches $39x, it's a buy back to push back close to $600.