The Chinese government has already been hostile towards Bitcoin. What's to stop them from taking it a step further?
BItcoin is of strategic importance. That means that the US, Great Britain, France, Russia and China must all agree that Bitcoin is bad before directly attacking it: otherwise, they may spark a new arms race. |
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The reason nothing is being done about the 51% attack is that nothing can be done about it other than scrounging as much hash-power as possible to point at the network (making the attack more difficult). If you believe in Bitcoin, you believe that people are generally good. If the "good" hash-power outnumbers the "bad" hash-power, Bitcoin works just fine. If "bad" hash-power wins out over good, Bitcoin fails: at least until evil gets bored. There are no "technical" fixes to this: only social ones. The reason is that trusting the majority of the hash-power is how Satoshi solved the distributed consensus problem. Somewhat relevant: Byzantine fault tolerance. According to that page, for most algorithms, you must trust 67% rather than 51% of the actors. |
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It seems most people don't know the difference between private and anonymous. They are listing reasons why they want privacy, not anonymity.
Bitcoin has no privacy (all transactions are public). If you want to reclaim some privacy, you need to be anonymous. Unfortunately, Bitcoin only supports pseudo-annonymity: meaning any anonymity (and resulting privacy) is fragile. |
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There are some newer Cryptocoins that tout anonymity using various methods of blockchain obfuscation ,of these Darkcoin has the most promise IMO as the development team has been the most transparent and have come up with several unique inovations that other coins were quick to clone.
Darkcoins unique Darksend+ blockchain obfuscation system is currently undergoing an independent code and feature review from noted Crypographer and Crypto coin expert Kristov Atlas, the results of Kristov's analysis are due in about a week
As I understand it, Darkcoin just uses CoinJoin transactions that you can already do with Bitcoin. The unrelated darkwallet should let you do the same thing with stock Bitcoin. I think that Crypotnote-based currencies show the most promise for privacy. They use "ring signatures" to obfuscate who spent specific coins. Double spending is stopped by something they call a "key image" that is somehow tied to your private key. They also split up the denominations of transactions like darksend+ apparently does. |
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I guess that would make sense. Of course im not bitrich therefore that doesnt apply to me.
Are you still not bitrich if the value goes up by an order of magnitude like it did in November? Splitting my coins was the single largest transaction I had ever made in my life (ie: over my $1000/day fiat limits). |
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This is a Peercoin video because the coin is dying and Mr bag holder needs a pump.
This is a reasonable accusation. However, if I were bagholding, I would just sell, and buy up a coin I believed in. I recommend for anyone who holds Peercoins, but thinks that Peercoin has no future, to just sell their coins. Anyway, I wouldn't put all the effort into making this video if I thought the coin was dying. If you search the internet, you will find a LOT of people in late 2011 announcing the death of Bitcoin after it crashed from $35 to below $3. The arguments were quite convincing, yet they were wrong. I think Peercoin is currently going through a similar phase. I don't recall any convincing arguments that Bitcoin was dead back then. The media, focusing only on the price, may have declared it dead. I searched, and only came up with these topics: |
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I don't think skipping the 1µBTC denomination is a good idea. I just prefer "mikes" as the short-form.
"Mills" are already used as a short-form for 1/1000th of a currency unit. Such units are not seem much outside of property tax rates though.
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Yes it work, but why would you want to waste a nice gaming machine..
I have a PS4 these days so my PS3 just sits in my cupboard! 1) Sell PS3 on Craiglist/eBay for $100 2) Move $100 to exchange 3) Buy 0.17 BTC with the $100 4) Start playing on your PS4 and not worrying about how to hack it You are missing the part where hacking stuff is fun. AFAIK, the PS3 was broken wide open within a year of the OtherOS feature removal. This, after lasting about 3 years in the market with no public exploits. Sony pissed off the very people with the skill to break the system by removing that feature. |
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I would be concerned about mixing services. Who do you turn to if they abscond with your bit coin? I think funneling it through multiple exchanges converting it to different currencies several times would do the trick wouldn't it? There aren't really any trust less solutions out there currently.
Yeah I agree...I'm really not too sure why you would really need to be mixing all your coins at this point in the game (unless you have something to hide). Governments are still ultimately deciding how to regulate BTC. They will need to come to a conclusion on that before they move their goals towards tracking and surveillance. The block-chain record is very public, and very permanent. If you are concerned that at some point in the future Bitcoins may be declared illegal, you should be mixing now. The reason is that you can be traced retroactively. Bitcoin is only pseudonymous, not anonymous. That means that your anonymity can be stripped away by any service that does not respect your privacy (such as an exchange required by law to keep lots of identifying details). CoinJoin transactions are safer than mixers in that they can operate without trusting the mixing service: if you use a new address every time (if two participants try to send to the same address, there is room for cheating). |
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on August 10, 2010 Bitcoin was hacked and 184 billion BTC were created.
... and ... you are whinging about what, exactly? The fact that the community as a whole decided to effectively 'roll back the hack', invalidate the 184 billion fake BTC, and return the distribution to that of time t minus one block? Yeah, I see how this is clearly synonymous with barons of monetary capital screwing the poor downtrodden developers. Not. The complaint appears to be that they did not roll-back all the blocks (ie: create a new genesis block), rather than just roll-back a hand-full. I gave up trying to find a thread about the original incident, and just put them on ignore. |
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I am intrigued, but all I see is marketing fluff.
Edit: Does frozen bit allow the users of the site to require n of m people to sign a transaction? Or is the site the third party in all cases?
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Get a Raspberry Pi and use that to control miners. Save energy and the earth  The Pi has only 512MB of RAM  |
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Sony disabled Other OS in the 3.21 firmware updateI would advise against buying a PS4 until Sony restores that function as a sign of good faith. The PS3 would probably fare no better than a GPU mining. If you want to mine, you essentially need to invest in ASICs. If Sony still had other OS, you could probably use it to control the actual hashing machines. The 256MB of RAM would be limiting though. (For using P2Pool you essentially need 2GB to run P2Pool and Bitcoind at the same time). |
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Technically, satosies are represented by bits. The software uses integers.
So is the letter "A", this entire forum, all floating point numbers, and whole Bitcoins. They are use more than one bit. Once again I have never once heard anyone refer to 1E-8 BTC as "1 bit" until you just did. Even if some people do it certainly wouldn't be a majority and thus saying Danny is "wrong" because his view isn't universal when yours is even less adopted is kinda silly right? I use satoshies to refer to the base-unit. 1 µBTC to refer to 1 millionth of a Bitcoin. I think using "bits" to refer to any denomination of Bitcoin is silly myself. |
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You are mistaken.
1 bit is 1/100,000,000 of a bitcoin, so a 'bit' is 10 nBTC. Well first of all there is no "mistaken". You can call "a bi"t whatever you want and so can Danny and so can anyone else. I wasn't explicitly trying to say danny was mistaken, I was trying to say the 1bit= 1/100,000 of BTC was mistaken. I was trying to echo danny's response to show that "bit" is not a universally agreed-upon standard. I am not sure why this needs yet another thread. I think that it is self evident. You assume everyone else believes 1E-8 BTC = "1 bit" while the reality is (I am guessing here) >99% of the population would disagree with the assessment. Technically, satosies are represented by bits. The software uses integers. |
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a bit is 1/100,000 of a bitcoin so a 'bit' is 10ubit. This just makes the decision harder
You are mistaken. 1 bit is 1/100,000,000 of a bitcoin, so a 'bit' is 10 nBTC. I am not sure why this needs yet another thread. Edit: I recently learned that Bitcoinj used to call that unit a "nano coin"... such an off-by-10 error makes me think less of the software. |
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its not my code its my math (which is way more valuable since theres 100s if not 1000s of people who can write the code but far fewer who can do the math)
Math is not (supposed to be) patentable. I have a video for you to watch: Patent Absurdity: How software patents broke the systemTroll or not, there are valueble lessons to be learn from his/her experience. Keep your developments secret until you have brought it to market.
I have also been excited about a new idea, and mouthed off in forums, and next thing, someone with enough time implemented it, and profit from it. You have no claim, if it's not patented or if your origional code was used, without your concent, that is, if you can proof, that it was your code.
Learn something from this, I sure did.
That is a terrible lesson. I mouthed off a video streaming/compression idea on some forums. Nobody "stole" my idea and implemented it yet. I probably have to implement it myself to prove it works. Again, software is not generally patentable: at least in relatively sane jurisdictions. |
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brilliant. laurentmt you are correct, i do like it. and i think the link you provided is the great example of the idea in working order. all it needs to satisfy philipsjk, is a profile page (username needed) where people can change the bitcoin address associated to the username.
To my knowledge, it was not implemented in demo apps but it's for sure doable. There's also a few improvements which have been discussed / proposed (github & forum thread) but which have not been implemented for now: - decentralized management of personal data and transfer to websites, when desired. - integration of BitId with the payment protocol, - ... I don't think changing addresses the way franky1 describes is doable for a specific technical reason. Primary database keys must: - Exist
- Be unique
- Not change over time
That is why Eligius does not let you change your payment address: it is being used as a database key. Assigning the proceeds of one address to another also opens them up to fraud. Of course, the website user can just generate a random 256bit number for the user to save, but if lost, they would have to regenerate their account anyway. (Essentially the same thing as using a Bitcoin address I guess Edit: there is one notable enhancement: the key recovery probably works more like a Hierarchical deterministic wallet) |
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I would like to believe that the Sony BMG rootkit scandal is why people don't buy CDs. It is the primary reason I avoided buying CD's the last 10 years. It is also one of the reason I don't even try to recommend anti-virus software (anti-malware software was invented after the scandal because the root-kit was given a "pass" by traditional anti-virus software). One band I liked released on vinyl: never did get around to buying a USB turn-table, to play it. Vinyl has the advantage of provably not being able to harm your machine. The industry probably likes it because the initial copy will always be "lossy". |
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Thanks for sharing so the banks now are seriously misinformed on Bitcoin and turning away potential investors by calling it a scam.
I think I would go to the branch and show them all the vendors accepting it, the best counter here is adoption and proof the system is being used by organizations that are far from scams.
My bank is known to be Bitcoin-hostile. I don't mention Bitcoin at all. I just quietly opened an checking account at a competing bank instead (disclosing my intention to buy/sell Bitcoin approximately monthly). That was not my only reason for leaving: they also took money out of the wrong bank account and charged a double overdraft fee for my trouble. |
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