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321  Bitcoin / Development & Technical Discussion / Re: Zero-signature sim allows Bitcoin by SMS -- seems really cool, but why? on: April 20, 2015, 03:20:54 PM
The circuits are not mechanically isolated, yet it is considered secure because they use proprietary technology. I'm thinking this is a bad direction to be going.
322  Bitcoin / Development & Technical Discussion / Re: AI algorithms on: April 20, 2015, 08:52:28 AM
what are you trying to do by making ASICs obsolete (make everyone use a CPU?).

It seems like that wouldn't be fair to the people who can't afford to mine profitably with a CPU.

Perhaps the AI should create algorithms that are CPU resistant.  Then we can make everyone use pencil and paper!

I dont think thats fair for those that cant afford pencils or paper. The algorithm should be solveable in human minds only. Its the only way to achieve true decentralization.


This is mean to be sarcastic and fun.
Frank Herbert went as far as outlawing computers and Mentats were created.  The spice is life.
323  Bitcoin / Bitcoin Discussion / Re: Bitcoin A Tool For CyberCriminals on: April 20, 2015, 08:45:56 AM
We can't deny that bitcoin is a perfect tool for CyberCriminal.
In recently, the police have to pay a ransom to the hacker with Bitcoin, which is never happened before.
Sure, any tools could be a tool for criminal.
Sure they did. This is nothing new. Money Packs and gift cards have been around much longer than Bitcoin. That's what pedophiles and terrorists were using and they are still around.
324  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: April 20, 2015, 08:39:10 AM
When folks realize they can control their money and keep it absolutely secure, they will come.
325  Economy / Economics / Re: Is Bitcoin Money or Currency on: April 20, 2015, 05:30:10 AM
mon·ey (noun)

- a current medium of exchange in the form of coins and banknotes; coins and banknotes collectively.
---


cur·ren·cy read as ˈkərənsē (noun)


-a system of money in general use in a particular country.

So, is bitcoin money or currency?

 As of today in the USA it is considered property.  Like a book or a tv or like a windows 7 software cd.
Yet by USA it is also considered money transmission.
326  Economy / Speculation / Re: when all that glistens is not gold, it could well turn out to be Bitcoin on: April 20, 2015, 05:03:55 AM
Just another speculator. Who cares what they think?
327  Economy / Speculation / Re: POLL:How likely do you think it is we see double digits in 2015? on: April 20, 2015, 04:40:27 AM
All centralized exchanges would shut down if that happened. Then truly decentralized exchanges would thrive. Let's see them skin the sheep.

You must be new here, but your "legendary" status says otherwise. What did Gox, BTC-e and Stamp all do 2 years ago before we broke above $100? Were they losing their asses or did they open up because they knew it was a lucrative business even below $100?
I'd actually wager a guess that they make more money at lower prices because volumes are higher and more people are able to buy more with the same balance. Their actual USD fees wouldn't change much if at all but their BTC fees would double. Win win.
"You can sheer a sheep many times, but skin it only once." In bitcoin's case meaning unregulated central exchanges will be finally exposed as bad for bitcoin because they favor fiat profit taking. Even Wall Street doesn't allow such volatility. Decentralized exchanges will slow down trading and allow natural price discovery without panic trading. Also such low prices are boring and nobody will care anymore. Bitcoin will go back to hobby status until the next development wave creates more disruptive technology that eliminates exchanges entirely.

I disagree!
Slower exchange of BTC to/from USD does not make more natural price discovery and will actually hinder growth through inefficiency of payment processing. Sure, it may cut down on some panic because it will be absolutely more hassle than it's worth. How is that efficient or natural? Sounds more like forced price discovery to the upside. Low, unimaginable prices will be the true test of Bitcoins' stay power and the loyalty of it's investors.
Nothing would hinder trade from reaching exponentially higher levels without the bottlenecks of centralized exchanges. They would simply be free from fraudulent price reporting and fractional reserve market manipulation.
328  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: April 20, 2015, 04:35:19 AM
Back in SRs reign, this day would be significant for Bitcoin transactions.

Wouldn't it have been a few days or the week before so they'd have their schmoke on time?
Because stoners are known for their preparedness and timely execution.
329  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: April 20, 2015, 04:14:49 AM
Back in SRs reign, this day would be significant for Bitcoin transactions.
330  Alternate cryptocurrencies / Altcoin Discussion / Re: [XMR] Monero Speculation on: April 20, 2015, 01:26:50 AM
Like the heads on pikes of medieval days, bankers put Lincoln, Kennedy, and Jackson's heads on their fiat money.
331  Bitcoin / Press / Re: [2015-04-19] americanbanker: Bitcoin Companies Pay Steep Fees for Bank Access on: April 19, 2015, 01:53:02 PM
But they give great deals to terrorists and drug lords.

do not forget weapons Lords...
Actually, that part of their business model is probably legal.
332  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: April 19, 2015, 01:51:05 PM
I can't wait for IBM's Bitcoin killer. Bullish!

Isn't this only for blockchain technology? I tought it wasn't related to currency.

They recently did a proof of concept for Internet of Things devices: https://youtu.be/U1XOPIqyP7A

What I don't get: How will be their "blockchain" secured? (without decentralised miners)

by the same way that facebook is secured without decentralized miners and things?

But then, man, it has nothing, NOTHING, to do with Bitcoin, and then, man, it's centralized!
(But they say it's decentralized!)  Huh Huh Huh
EDIT: And they say it's blockchain from Bitcoin and ethereum, it just makes no sense!
Yeah, it took Satoshi like three months to write Bitcoin after the White Paper. I'm sure a small company like IBM can write something better without taking too much longer.  Grin
333  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: April 19, 2015, 12:10:48 PM
I can't wait for IBM's Bitcoin killer. Bullish!
334  Bitcoin / Press / Re: [2015-04-19] americanbanker: Bitcoin Companies Pay Steep Fees for Bank Access on: April 19, 2015, 11:26:01 AM
But they give great deals to terrorists and drug lords.
335  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: April 19, 2015, 10:59:11 AM
And yet they still haven't learned to stop using Gox type exchanges.
336  Economy / Economics / Re: I read a thread on destroying bitcoins I have a better idea. on: April 19, 2015, 06:27:18 AM
Sending to the genesis block is destroying bitcoins because that block can't be spent.

The output of the transaction 4a5e1e4baab89f3a32518a88c31bc87f618f76673e2cc77ab2127b7afdeda33b (the 50 BTC coinbase transaction) cannot be spent, but the other bitcoins at 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa can be spent.
I can see why newly created outputs could be spent, but I doubt there is a client built for handling that transaction without using coin control.
337  Alternate cryptocurrencies / Altcoin Discussion / Re: [XMR] Monero Speculation on: April 19, 2015, 02:35:03 AM

The United States is found on the principle that the people have a duty to not allow tyranny. Clearly the current living conditions (in the United States) are far more tyrannical than the ones that forced the independence in 1776, and are listed in the Declaration. If I was American, I would be among the true patriots, following not only the spirit, but also the letter of the Declaration of Independence in not allowing tyranny in my life, and a good place to start is where it is most apparent, in the realm of money.


This is hyperbolic rhetoric, in my opinion, especially with the parenthetical qualification "(in the United States)". In 1776 the people living in the soon-to-be states were paying fealty to a king thousands of miles away, having to let his soldiers stay in their homes, living with no representation, slavery, indentured servitude, and oppression of women, natives, and imported slave labor, etc. Maybe if you left off the qualification you could argue that the USA is now oppressing/tyrannizing people in other countries, but I'd still call that quite a stretch.
So you are saying the USA is not tyrannical?
338  Economy / Economics / Re: I read a thread on destroying bitcoins I have a better idea. on: April 19, 2015, 12:41:25 AM
Sending to the genesis block is destroying bitcoins because that block can't be spent.
339  Bitcoin / Development & Technical Discussion / Re: Could this idea address the scalability issue? on: April 19, 2015, 12:23:56 AM
https://lightning.network
There are also discussion threads about it.

cool stuff. thanks for link!

Lightning is very cool, the whitepaper is a *little* difficult to parse if you're not switched on to that way of thinking. Thankfully, rusty has a series of posts he wrote explaining Lightning as he understands it:

http://rusty.ozlabs.org/?p=450
http://rusty.ozlabs.org/?p=462
http://rusty.ozlabs.org/?p=467
http://rusty.ozlabs.org/?p=477

It's imperative to understand *why* Lightning or something similar is important: it solves the scalability issue without sacrificing breaking Bitcoin's trustless model.

I was at the Bitcoin Africa conference over the past two days and I heard more than one speaker (Jonathan Levin from Chainalysis, in particular) say that in order to scale Bitcoin we need to add trust. Needless to say they earned my ire, and a good shafting of critical Tweets (such passive aggressive, much brave, wow;)

Thanks for stopping by to check out my thread fp. I had a feeling that my idea was either broken or already on someones radar.

Can this be done with monero do you think? We have time locks already right? We just need multisig. Is the dev team hopeful about being able to work out a method of doing multisig in monero in future?
It would be great if someone developed this on any altcoin. But they usually wait for Bitcoin to develop it because altcoins are all pump and dump scams. That's hyperbole, but probably true in most cases.
340  Economy / Economics / Re: Can a coin that is primarily a store-of-value succeed? on: April 18, 2015, 03:15:32 AM
Store-of-value was programmed into us by the Scientology Overlords so they might easily take our gold when they return. Bitcoin is a secret weapon created on the Planet Satoshi to defeat the Scientologists.  Grin
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