It's actually very easy, because only one person is compiling 'official' bitcoin client which is used by thousands users, force this person to corrupt, backdoor 'official' client and you can destroy bitcoin in just few second... and don't give me argument you 'can Compile it yourself' 90% use standard bitcoin-qt client.
Thanks to open source, backdoors is usually found and fixed, and the one how did it is recognized. What worries me more than bitcoind is the java binaries that some wallets depends on. Those java binaries can contain anything and nobody would know about it. It is also possible to create laws that require you to add a backdoor and another law that prevents you from being honest about it. The best tool we have is to require all crypto related software (and even hardware) to be open source |
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So let me get this straight.
The NSA created a revolutionary disruptive technology that is likely to fundamentally threaten the power of the very entities that they are in the business of protecting?
It could be a disgruntled former employee  |
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Hey guys with all this hype going around is it possible that the FBI can crash the market by selling all the bitcoins they seized? (which is now worth 100+ mill ). It seems like it's in they're best interest to get rid of our anonymous currency. Are we a ticking time bomb? What are your guys opinions?
Thanks
It seems unlikely that they could just sell it themself without consent from gov/banks etc. After all it is confiscated assets. However, I believe they could render bitcoin useless by breaking the encryption. |
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however an early developer of Bitcoin once said that if an alternative coin overtakes Bitcoin for no reason, it will destroy all confidence in crypto-currencies
I would not buy that argument just yet. If bitcoin dies, sure, but there is no reason why several alternative coins can't be in flux at the same time. |
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im having this feeling that we will slowly see bitcoin be incorporated into financial system while dollar fades away with light & fireworks. foundation will program wallet. bitcoin businesses will be future banks. crazy brainwashed warmonging robot-like governmental agencies will enforce that online justice is done and declare WORLD ON CYBER CRIMINALS ending WAR ON TERROR. we will become future millionaires while our voices are becoming less distinct since most of us will be enjoying the new wealth we acquired. this will be phenomenal transfer of wealth. our community as it is today will most probably disappear slowly and the gaps will be filled with less intelligent greedy forumers whose intentions are only to gain wealth quick and easy. this will be what i feared the most. bitcoin will become just like another fiat being controlled by slightly different bunch of people, eventually over time being implemented into usa government. this fiat will be better structured, much smarter, and as a result more punishing. i believe that a true bitcoin community that we have today will have to move into other circles of alternative currencies that are under less attention and not yet regulated. i strongly believe that they will force all alt currencies representatives to comply with fincen or being barred from open official usa crypto trade. we will eventually get us into strongly anonymous crypto currency spaces just like those being actively developed as we speak. im afraid the final confrontation the west will be facing is to be able to regulate exchanges (banks by then) of china & russia. failure to comply will automatically create redlists (maybe a division for every country in the world). we might have national wallet apps being created that are restricting/regulating/monitoring trades between other wallet apps. By then we will be exactly where we are now – in a totally controlled financial environment satoshi wanted to free us from.
Alternative currencies with stronger privacy measures will flourish at some point. Its like, if you cant get a high-tech M16, get a used AK-47 instead. Sure as gravity it is |
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FINCEN seems to be in favour of Bitcoin. The DoJ doesn't want to ban Bitcoin either. Chairman seems to have an open mind and doesn't want the US to loose any Bitcoin related business. Good news so far.
I missed the child pornography guy. Was probably bad for Bitcoin.
...
It turned out he couldn't care less about missing children. He was pretty much the front figure of big corporations and organizations making a case against privacy/anonymity |
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With great powers come great responsibility
Register with Fincen
Put in Place AML Anti Money Laundering
Maintain Records and Provide Suspicious activity reports to Fincen
Jennifer Shasky Calvery
I never thought I'd see the day when Americans would embrace communism with both arms  |
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It's inherently classist.
#Socialist Why is it that the commies/socialists try to ruin everything good? You don't have to be a socialist to worry about macroeconomics. It seems more relevant to ask if it is possible to be a libertarian on behalf of others, not just yourself |
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I can't disagree with you on that, but it was fiat that got us in this situation. Bitcoin may or may not improve the situation.
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Of course the Fed do not have the authority to regulate crypto. They are a private company, not a government department. they follow the legislation that was written to allow them to exist even though central banks are unconstitutional by nature.
This is not to say that the government will not regulate.
Many people do not realise the federal reserve is a private company, I would have thought most here would realise that.
Yea this is really hard to understand for pretty much the rest of the world |
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Seriously though, I can't remember where I read about it but I seem to remember reading about NSA saying to congress that they were not looking to crack down on bitcoin and that they should stop going after it. Something along those lines.
That of course leads me back to what I have always wondered,
is the Koblitz curves left out of the list of NSA approved cryptography because they have found a way to break it, or is it because they haven't found a way to break it?
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I'm not all that surprised really.
There has been other indications of this attitude before.
The primary focus of the US government is after all to provide for private capital in any way possible.
And the capitalists them self should be fine with the "Every man is a tax heaven" property of bitcoin.
I refuse to believe that the Chinese government will not go for full control though
Who says they didn't create it? It has crossed my mind  |
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I cant stop wondering if Bernanke is simply flattered by the fact that the blockchain contains a ascii portrait of himself
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I'm not all that surprised really.
There has been other indications of this attitude before.
The primary focus of the US government is after all to provide for private capital in any way possible.
And the capitalists them self should be fine with the "Every man is a tax heaven" property of bitcoin.
I refuse to believe that the Chinese government will not go for full control though
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Quote from: spartacusrex on Today at 02:51:40 PM BUT - BTC development is still FAR TOO CENTRALISED.. Because protocol changes are STILL being made, so no-one but Gavin and the BTC Foundation can actually develop the bitcoin-qt client. No Disrespect intended, Gavin's cool Grin Where the hell did you get that idea? Bitcoin-qt is developed as an open source project on github ( https://github.com/bitcoin/bitcoin), You do NOT need to be a Bitcoin Foundation member to contribute (just have an account on github). That's not what I mean.. Yes, it's open-source. yes i can contribute.. But the truth is : Everyone uses the client Gav and the BTC team build.. as in EVERYONE.. If the Protocol was set in stone, I can guarantee you there would be many MANY more implementations to choose from. And then trying to do a HARD FORK would be basically impossible.. without MASSIVE overall consent. (more than 51% - as at 51% a fork would be very MESSY) At the moment, if they put something into the latest version of bitcoind.exe, MOST would just take it, and use it. That's what I mean by the centralised nature of bitcoin's development. Other protocol implementations are coming into existence, like btcd and gocoin. The most important thing for a government is probably to have a system where money circulate back to them eventually. Whether it be through taxes, duties, printing or whatever. Tainting could be used to achieve this of course. Just taint everything that has not been whitewashed and reissued by the gov. But I doubt China is willing to send all their coins to Bernanke to have it whitewashed |
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The only downside is that time flies by when you do it |
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http://www.youtube.com/watch?v=6FMNFvKEy4cI’m sorry, but I don’t want to be an emperor. That’s not my business. I don’t want to rule or conquer anyone. I should like to help everyone - if possible - Jew, Gentile - black man - white. We all want to help one another. Human beings are like that. We want to live by each other’s happiness - not by each other’s misery. We don’t want to hate and despise one another. In this world there is room for everyone. And the good earth is rich and can provide for everyone. The way of life can be free and beautiful, but we have lost the way. Greed has poisoned men’s souls, has barricaded the world with hate, has goose-stepped us into misery and bloodshed. We have developed speed, but we have shut ourselves in. Machinery that gives abundance has left us in want. Our knowledge has made us cynical. Our cleverness, hard and unkind. We think too much and feel too little. More than machinery we need humanity. More than cleverness we need kindness and gentleness. Without these qualities, life will be violent and all will be lost.... ... There is reason to believe that the more wealth you gain, the greedier you get. This is probably why all those multinational corporations and politicians that could have made a difference to improve the common wealth and combat corruption never does. |
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There is no technical reason why an altcoin shouldnt increase in value at some point.
Some altcoins is already quite popular, at the same time as bitcoin is getting more popular as well.
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Ugh another lame try to pump an altcoin, this time... Namecoin. WTF.
namecoin is a decentralized domain name system (DNS) It really needs to get more attension |
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- if govnm't XYZ wants to track bitcoins by blockchain analysis, we cannot avoid it anyway, and they do it anyway, that's for sure. Whether some make national laws using such data is also outside our influence (but it would weaken the country's competitiveness) But that is exactly why the bitcoin development should put much more focus on improving anonymity. Tracking coins via blockchain analysis is the most important issue that ought to be addressed by the developers - but it hasn't been. Ever since Satoshi is gone, no actual privacy improvement have been made in bitcoin. The people in charge who he left the project to have obviously sold it to corporations and are now busy not developing bitcoin, but a surveillance system around it. Am I the only person who actually sees it? Of course i fight against. I only wondered that you speak about US-Slaves since its long time away that only USA citizens had problems with that surveillance state. I did not mean that all the people living in US are slaves. There are millions of brilliant and thoughtful people living in US, just like there are tens on millions, if not billions, of american slaves living outside US. Ironically, some of them don't even speak English.  But the system of the economic slavery that is on stake here was made in USA - first raised along with the FED, then forced onto the rest of the wold in Bretton Woods and at the end totally released by another genocidal psychopath US president who decoupled the dollar from the gold, thus lifting any limits on the debt slavery. Bitcoin is going to destroy this system, but not without a fight. The war is already happening and people need to choose sides. I don't have a problem with people saying to me (and I hear it every day) that they prefer dollars over bitcoins. What I do have a problem with though are the hypocrites who pretend to be developing bitcoin, while in fact they are conspiring to kill it... or not conspiring, but just promote the "media and politicians will use it to beat us up if we don't turn bitcoin into dollar" approach - these are the american slaves and trust me; they live all around the world. This is surprisingly accurate, even though I believe some of the developers are trying to do the right thing still. Its will be interesting to see how it plays out. Crypto currencies are still in its stone age so one way or another we will see anonymous transactions in the future imo. |
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