Clearly you don't understand the internet concept of "First to critical mass wins".
Although in theory bitcoin can be copied and improved on, the facts on the ground are that the majority by far of value is in
the bitcoin network and the rapidly expanding retail network accepting bitcoin. Try nipping down to your high street and buy your
aunts birthday present with quarks!!
Three words bro. Friends Reunited. Myspace. Your thinking of applications! This is not just application, this is massive global mining infrastructure, retail store Point of Sale systems. Once established, retailers need a real good reason to change to something else, and Bitcoin is achieving that based on cost reduction. What's the winning argument for Bitcoin MK II?? Don't underestimate retail inertia, there is a reason we are still using bits of plastic 60 years after they were invented! I do not preclude the Litecoins of this world being part of the revolution, but their success will be dependant on their market liquidity, which is crucial for the likes of Bitpay to be able to freely exchange to fiat and thus offer as a parallel option on their POS systems. |
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It seems america desperately wants to lay claim to inventing bitcoin. |
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This just re-enforces the obvious message coming out of the Mt.Gox fiasco, which is that we need regulation and we need it now! People running 'Banks' of any kind should have provable protected reserves and strict audit requirements. Until we get this, anyone keeping any significant amount of BTC at ANY third party wallet is substantially at risk, and frankly if they are stupid enough to do so, deserve what happens to them! Wow! problem, reaction, solution! Can you be a little more predictable? I only saw your kind of bullshit coming a mile away. Must be nice to heroically prescient. |
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This just re-enforces the obvious message coming out of the Mt.Gox fiasco, which is that we need regulation and we need it now! People running 'Banks' of any kind should have provable protected reserves and strict audit requirements. Until we get this, anyone keeping any significant amount of BTC at ANY third party wallet is substantially at risk, and frankly if they are stupid enough to do so (under the current lack of regulation), deserve what happens to them! |
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Everything that bitcoin is great for, can be copied (has been copied multiple times)
Clearly you don't understand the internet concept of "First to critical mass wins". Although in theory bitcoin can be copied and improved on, the facts on the ground are that the majority by far of value is in the bitcoin network and the rapidly expanding retail network accepting bitcoin. Try nipping down to your high street and buy your aunts birthday present with quarks!! |
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There are too many trust issues with Bitcoin. Especially since we need to trust exchanges and the people who accept and use bitcoin.
OMG Why on earth are you even here if you truly believe that?? Just a professional troll... |
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TCP/IP will never go mainstream. It is just a prototype. The idea that a protocol that was state of the art in the 1970s will be used by billions of people in the 2010s is just stupid. By 1979 the internet hadn't become mainstream so obviously it was never going to happen. Something more efficient than the internet will come along and we will use that instead.
So you want to go that road huh? Compare Bitcoin to any other successfull sites since the year 200. I could name Facebook, Myspace, Twitter, Spotify, the list goes on etc etc and want to know what all those sites have in common? They became successfull within a very short time and Mainstream. Bitcoin is supposed to be this new, next generation, of money handling, but has is a very long way off being adopted by the general public, who aren't programmers and tech guys. It's simply never going to get any higher in terms of popularity, too many flaws. Bitcoin isn't a website, it is a protocol. Facebook, myspace, and twitter are still running on the flawed and ancient protocol that was around at the start of the internet. The internet circa 1969  The internet circa 1977  That is right it took almost a decade to build it out to just a couple dozen nodes. The internet circa 2000 http://mountpeaks.files.wordpress.com/2012/03/1069646562-lgl-2d-4096x40962.pngYeah that PDP11 is where I keep a safe copy of my multi headed hydra worm  |
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If satoshi moved his coins the market would go into a panic. That would be the worst idea in the world for him to do.
Yes it would force a price drop, but theoretically it only dilutes the coins out there by 10%, so in practice price would only drop by more than 10% for as long as it took the market to absorb the extra 10% into normal daily turnover. (A few days to a month perhaps). Corporations do this all the time when they issue additional stock, so his holdings are NOT a systemic risk to the BTC economy. |
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Lies, Damned Lies and BTC Statistics, even with a transparent blockchain, like Mt Gox if you don't interpret the data correctly, it's worthless.
I think fiatleak.com is broken. (Though I noticed Max Keiser mentioned the China flows on it also!).
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Having 1 million btc is a complete obscenity.
He should start giving them away somehow.
He is not the 1% but the 0.000001% Warren Buffet is broke compared to satoshi (talking about wealth percentage)
What do you think?
If he had that amount it would put him in the same ball park as Vladimir Putin's ill gotten wealth stolen from his own people, currently estimated to exceed $70 billion. Surely Putin would be a better target for your wrath than the man that just may have changed the world for better for ever!! |
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Does anyone have any insite as to why fiatleak.com show's nearly all bitcoins going to China at the moment? Last twelve hours or so 70,000 BTC to China only 800 USA and Zero UK?  |
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has a different sleep cycle not uncommon for many programmers. Waking up in the afternoon, working at night.
+1 this is more plausible. sometimes instead of reading the info given, its better to understand the context and possibilities behind it. so i agree fully. especially as i live in england yet between other projects and bitcoin i write comments well beyond midnight, but i hardly ever write messages between 4am-midday(GMT) which would be between 10pm- 7am US time (when american 'daylight workers' sleep) so does that make me american? oh, and we cannot forget the big part of the proof that he is british.. the genesis block quote: (hint: its not the new york times, but the british version source: https://en.bitcoin.it/wiki/Genesis_block#cite_note-1)  Well he did an amazingly smart thing, so the odds are in favour of him being British  |
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Can Bitcoin wallet support other coins like litecoin or Gogecoin at same time? As you know there are so many coins now.
That's like asking if my Swiss bank account supports Nigerian Prince investment fund. Or if Fort Knox will also store my collection of pretty rocks. These alt-coins are Bitcoin, with the most trivial of changes. They can be taken out at any time by 51% attack by existing miner hashrate or common computing resources. They have been killed in the past just for demonstration, but nobody seems to learn, so now they and their wannabe-rich creators are ignored. Only Namecoin is unique in offering a new feature that won't be included in Bitcoin, and it has a difficulty about 75% that of Bitcoin itself. Only namecoin attempting to add value?? you need to do your homework before making that kind of statement. I'm no fan of the me2 coins but there are some excellent innovations happening in the alt space. |
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Is there any chance for future releases that the upload bandwidth used by bitcoind could have a throttle option?
I don't have one of these new fangled VDSL or Cable connections, I have a 8mbit ADSL connection with a staggering 256k upstream. It gives me an upload speed of 38kb/s. Bitcoin-qt sucks up all of that bandwidth which makes even browsing webpages extremely slow and painful, sometimes impossible. It would be nice if there was an option (other than 'exit') so that bitcoin-qt couldn't hijack my internet connection.
Thats being dealt with via the SPV protocol, already implemented in MultiBit client. |
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Wow, almost like these bitcoin things are real It will be interesting to see if his defence team try to use the legal argument thats it's not real money! |
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What's more interesting is watching the BTC flows since the MT.Gox induced crash, it's been primarily towards China!! So they are very far from out of the game yet, even if their banks can't touch it.
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I'm constantly amazed at peoples inability to read other people. You just have to look at Karpeles face!! I would not trust him to feed my cat let alone with my money.
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Yeah Ethereum project is great once you understand it, but it's doing a singularly bad job at communicating to the world what it is. Until that changes it's failing to reach the very entreprenuers that are needed to layer products on top of it. |
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As one of the most confirmative and group thinking society, it's no surprise only 0.8% Gox customers are Japanese.
Never understood why they chose Japan, it's just odd.
Because with that kind of thinking from government ministers, they were always going to be one of the last to get regulated! Personally I think it's still an open question whether the Mt.Gox bitcoin were stolen by external or internal people. I just cannot get my head around how even a simple summing of account balances against wallets would not have revealed the start of discrepancy nearly two years ago! If you wanted to get away with the heist of the century, where better to do it than a country where the ministers are fighting eachother to not be responsible for anything to do with bitcoin! |
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