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1. What I wonder is if rising the cap would render all existing coins(hashes) invalid, and effectively starting everything from scratch?
2.b I believe bitcoin is designed to take advantage of new crypto. You would typically have to create a new wallet using the new crypto and transfer coins over from the old one.
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Cool video. There is definitely something eerie about that background tune  |
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He should get a blood hound and have it search for the smell of whatever it was that he pored over his harddisk
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That is one cool wallet. I want one
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Thats a good read.
I guess the good news is that no matter how many flaws and problems arise, fiat did worse.
To make bitcoin fail fiat style you pretty much has to crack open the encryption.
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Also, and I hope to be in topic, why do we need to try millions of hashes before finding the right one? Isn't there a way to create a mathematical way to just get the right hash on the first try?
The hashing operation basically produces a very long random number. The entire network is looking for the first random number that has a certain number of zeros in it. It is totally random who "wins" - that is, gets the first random number with the proper number of zeros. You make it sound as if you can just generate a random hash with a certain number of zeros in it, but this is where the nonce value comes in isn't it? |
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Anyone know of an exchange that can sell litecoins without taking forever, preferably using VISA?
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Probably. btw everyday users use Linux. It runs more devices than any other OS if you include Android. If you like Windows, try KDE. You will never go back |
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That's strange. It looks like it could be a bug in Armory, not showing the first row.
You took a paper backup of your wallet right?
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I like this idea.
Maybe an extension of the "Meetup" (meetup.com) groups in every city currently going on (at least here in the USA).
Of course we'd need females who are good at organizing events because us dumb men couldn't put together a pot luck or farmers market if we tried.
Oh well, it was a nice idea. Since there are no girls in the Bitcoin world. (Except BitcoinChick - hi honey!)
Gay people are even better  In addition to good old street markets, every country has at least one popular web portal where people can buy and sell used goods, and we should make those for bitcoin too. Easy access to high traffic of goods and services. A serious bitcoin exchange company in my own country is already working on doing this and I think its a low threshold alternative to get those coins rolling |
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We should start organizing good old-fashioned bazaars and street markets selling food and new/used items for bitcoins.
Let everybody participate as both sellers and buyers, and make the currency flow.
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Lets just keep a steady pace and a low profile. We don't need to compete.
I say we stay away from a battleground we can not conquer, thats what open source did and thats how they succeeded in the end.
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Surely it works the other way;
A list of registered wallets no one will send to.
knee jerk solution.
not just one list but multiple lists that are incompatible would fracture the currency?
Correct me if I'm wrong but there's nothing in the code that would allow for this at a fundamental level. Any list and filter would be an add-on that could be worked around by just reverting to a more base wallet/loading a new client?
I'm confused.
How would it be possible to force a list on the network. its impossible surely, its decentralized!
They could ask you what your registered address is and require you to use that for everything from bills to salary. You can have another "secret" address, but if you send money to that address from your registered address, you leave a trace. And if you want to buy something serious with your secret address, like a house or a car, you have a problem. |
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We should also support Edan Yago in creating a cryptographic currency political zone, and any other nation trying to free them self from financial terrorism using bitcoin
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They will try this, and worse. Its their knee-jerk reaction to anything they can not understand or control.
If they succeed it will defeat the purpose of bitcoin on a technical level and we all might as well go back to the fiat hegemony.
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All transactions must be based on trust, and it's hard to see how anonymous users making promises to each other can be trusted in the long term
This is kind of right I guess. It is hard to see for the enslaved how chaos can be prevented when the master is gone There is a genuine revolution underway in internet transactions. But bitcoin is a distraction
This one is harder though. I haven't seen anything like this on the horizon |
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I understand most of the responses, but I also agree that there doesn't seem to be anything big enough to power a paradigm change. At all. There are definitely some minor benefits to the consumer.
Currently bitcoin has nearly zero consumer protection in place. I raised this issue on the bitcoin foundation forums, and my understanding is that they are working on it. Or rather, it's not even their job to work on it. It's the job of the various companies overlaying the bitcoin protocol, providing services, that should be providing the consumer protections. Something like that.
But if you lined up 100 consumers, and tried to convince them why bitcoin is better than Cash or credit cards, I think you would fail. I don't think they would see the relevance of it, unless they regularly send money home to family in other countries. The ability to use a smart phone to make purchases, might be the only slightly relevant benefit. I don't know if that's significant enough to motivate a worldwide currency change.
imo bitcoin is just the beginning. Anything can happen, and I believe it will. Its not ready for the average, slave mentality, mouse in a wheel kind of consumers. And I don't think it should be just yet. Getting ahead of our self is just going to hurt development. |
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I wouldn't use a online wallet at all. Personally I would install a linux distribution like Ubuntu (LTS) or Mint that lets you choose "Encrypt home folder" during installation. Then I would install bitcoind and let it sync with the bitcoin network - http://rdmsnippets.com/2013/03/12/installind-bitcoind-on-ubuntu-12-4-lts/Then install Armory and create a few accounts. Then make a paper backup of each account . Optionally you can save those to pdf if you want to print them somewhere else, but remember to delete those pdfs after. Then print the backups to paper and hide them somewhere safe. Transfer your coins to the armory accounts. You can delete the .wallet files of some or all of the accounts in the .armory folder if you don't want to have them around on your computer. As long as you have the printed paper backups you can restore your accounts on any computer at any time. You can even use them to restore your accounts on several computers if you so desire. I'm sure there is other ways to go about it. This is just how I would do it. |
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This is of uttermost importance and something we need to know. Should this be moved to Development & Technical Discussion so that it doesn't drown in garbage?
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