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12W91RpGc6qCZnPibGvkVBUfGS4mf8AE5V
Thank you!
BitcoinBug
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Is landfill owned by a private company? When bitcoin rises high enough, somebody can buy the whole company for a fraction of 7500 BTC  |
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I think it's important to understand what is going on. This is only my opinion, but feel free to correct or add anything. IMO altcoins got popular for these reasons: - lots of newbies with regret and (incorrect) thinking in style "I missed the boat with bitcoin, what is the next big thing"
- pumps & dumps are much easier done with altcoins and on newbies
- GPU miners lost their profits when FPGAs and ASICs arrived and had to switch to something else. They suddenly became incentivized to promote altcoins
- all cryptocurrencies are currently more than 90% speculation. The network effect, that Erik Voorhees is talking about, is only semi-valid at the moment. When Bitcoin price will reach its full potential and the system becomes more like a transactional currency, network effect will cause the value to (finally) concentrate in one currency
- hype-price feedback
I see these reasons as the "perfect storm", the whole is greater than the sum of its parts. But it is also not sustainable. Newbies will learn the fundamentals, suckers from pumps & dumps will learn from their mistakes, the mining aspect will lose power (professionalization), built infrastructure will make Bitcoin more usable for day-to-day transactions. TL;DR: don't fall for altcoins, unless you really understand the reasons for owning them |
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Make a clone and change the mining algorithm...oh wait...lol  Ripple had most opposition among current bitcoin holders. If somebody would make a clone, where ripple ledger would be created by importing latest bitcoin ledger as genesis "block" (no history, just address-balance), all bitcoin holders would automatically become ripple-clone stakeholders. Additionally, exchanges with shared wallets would have a great incentive to become gateways, which are a critical part of ripple infrastructure. and logins would be done how? hashed private keys? against addresses Since bitcoin addresses are not compatible with ripple accounts, additional transaction type would be required: sweep-initial-funds. When user would first open a client to create ripple account (along with user & password to access it), he would have an option to sweep initial funds (multiple addresses) into his account. Other than that, everything would be pretty much as it is. |
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Make a clone and change the mining algorithm...oh wait...lol Ripple had most opposition among current bitcoin holders. If somebody would make a clone, where ripple ledger would be created by importing latest bitcoin ledger as genesis "block" (no history, just address-balance), all bitcoin holders would automatically become ripple-clone stakeholders. Additionally, exchanges with shared wallets would have a great incentive to become gateways, which are a critical part of ripple infrastructure. |
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Dear JoelKatz,
I'm happily outing myself as a fan of yours. My English is by far not as good as yours, but your work is admirable. Keep up the good work. THANK YOU!
My feelings exactly... Thank you JoelKatz! |
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I was seeding the previous version (2.3 GB, share ratio 15) and when I added this one, it picked up and verified the existing version and continued downloading from 51%. Very cool!
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Something is strange with that numbers  Bitcoin magazine claim near 1 milion of bitcoin users (is 0,01% of the whole word population or 40 every 100000 intenet user). There'll be at least 1000 shops (from bitpay alone) accepting bitcoins and this is 0.04 over 100.000 internet user. From the source of your data, if the numbers are correct, there are only 16500 nodes in the whole world. I think that some node is not properly counted for some reason Number of nodes is much lower than number of users, they should not be compared. Also, 1 million is probably very optimistic number, my guess is much lower (200k). |
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Great idea, I am seeding with my 2Mb. Just a suggestion: I would love to be notified when new torrent is created so I won't be seeding obsolete one. Could someone create a mailing list for that purpose?
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Agree, there can be competition on many levels and should be. And if this brings peace to Bitcoin, it's win win. he exchange rate for Litecoins I estimate should be around $3, which is about 4 times less than Bitcoin's current rate, because there will be about 4 times as many Litecoins than Bitcoins in total. LOL. Loaded litecoins much? |
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For what its worth, I traded with kakobrekla back in 2011 for about 100 BTC and the whois matches his physical and email address back then.
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I'm not arguing against having competition in the world of Bitcoin. What I'm arguing is that it doesn't exist yet, and if it does, it's not going to happen for free. And when it does, it will be with much worse intentions than this non-profit made up of people who actually care about Bitcoin.
The complexity of the protocol and securing the fully-functioning network requires some serious devotion and skill. The current devs have been doing this for years, for free. Yes, maybe they made some money from BTC savings. A lot of people did. But no one [should] doubt their devotion to the success of Bitcoin, regardless of who they are working for or how much money they made. These guys are serious nerds, and seriously devoted. There's never been a reason to doubt that. Except that you have, in an extraordinary and insulting fashion. As if devs getting compensated for their time turns them into bloodlusting, selfish scammers.
Because of the complexity of the system, there's no way for competition to exist without salaries. When it does, it will probably be supported by a profit-motivated "corporate overlord". We should be happy that the first formal face to the outside world is a non-profit made up of these guys. Because any other company trying to dive in like this will probably be profit-motivated, and made up mostly of people who don't actually care about Bitcoin.
The reason I was so straightforward in my previous message is because you've offered no evidence that the high degree of credibility developed by Gavin&friends over the years is in question. Everyone on the Bitcoin Foundation has been contributing to Bitcoin in some way, for a long time. They've promoted it, defended it, secured it, developed it, and tried to expand it. But none of this matters to you. You see that someone gets compensated for their time, and nothing good can follow.
All I can say is, in order for Bitcoin to succeed in the long run, something like the Bitcoin Foundation is necessary: without it, "Silk Road" will remain the public face of Bitcoin, and it will never expand. And if some organization is going to come about to try to organize, promote, and maintain the network, we should be damned happy it is these guys.
Wow, this is very well put. Thank you! |
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If Bitcoin Counsil ever gets created, I will support it, competition is good. But too often these things end up with good wishes only; hope I'm wrong. I nominate Erik Voorhees!
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you want things to change for YOU is a way that a lot of people disagree with.
Actually, the amount of membership and donations are staggering. I've narrowed it down to 3 trolls in this forum, and a bunch of follower haters which total to about 20. -Charlie +1 There is a poll on CodingInMySleep blog: What's your first impression of the Bitcoin Foundation? Love it! (70%, 63 Votes) Meh. (23%, 21 Votes) Hate it! (7%, 6 Votes) http://codinginmysleep.com/announcing-the-bitcoin-foundation/ |
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Only two years in the Bitcoin universe... few months are sufficient to severely damage Bitcoin with your elitist BS.
This kind of language is also damaging. You want to benefit Bitcoin? Be constructive, not destructive! |
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Gavin isn't Bitcoin. The Foundation isn't Bitcoin. No single entity is Bitcoin. Bitcoin is the sum of all the parts. If you're worried about there being too much power in one place, don't weaken what's working well, add new power somewhere else.
I'm quite shocked that so many people are against Gavin being compensated now, after he's put so much time into this project for free.
+1 |
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Atlas this is happening now, with or without the foundation, makes no difference anyone can go and change the bitcoin soruce code. and guess who looks over the changes... Now that they just put a cute label on their team, and you go nuts...  you should be happy now that they are no longer an underground mysterious group of people. +1 |
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What if the premium companies offer some premium services to newbies through the foundation login page and the web is down for a week because the attack?.
What if, I'm asking you! A few new users less? Bitcoin went from sub 1$ to 30$ and back to 2$ in less than a year and survived, yet you worry about few new users? |
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The bitcoin is a economic tool. The same way we don't have a Mr hammer face or a Mr screwdriver face, we don't need a Mr bitcoin face.
Maybe you don't, but some obviously do. And many of us appreciate it. It's all voluntary, what exactly is the problem? What is danger #2? |
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Bitcoin isn't something people can easily leave if they have their savings in it. We are dealing with wealth here.
You cannot easily sell your bitcoins? Please stop acting like the world owes you something... |
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