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141  Bitcoin / Bitcoin Discussion / Re: "Failure to Understand Bitcoin Could Cost Investors Billions" (Bitcoin's flaws) on: February 28, 2014, 02:15:22 AM

I'm missing something.  Why is it wise to trade out for new coins?

Because in theory only new minted coins can't have been stolen in the past.

As for tvbcof's theory that AML, KYC exchange sourced coins are more amenable to the authorities than self-mined coins, as far as I can see there is nothing tainted about mining your own coins for as long as you declare and can document the activity to the authorities, e.g. on your tax return when you create a taxable event.


Ah, I see.

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I don't see how purchasing on an exchange stops the law from trying to obtain the stolen coins for the victim. As I covered in detail at the link above (dig to find my quotes of the Mt.Gox Terms of Service), an exchange is not a bank and your coin ownership was not transferred to the exchange when you deposited them.

So sorry I have to strongly disagree with you on that point. Sorry to give you bad news and cause you to have a headache. Better you face reality now and trade now for self-mined coins. Thus you would need a cpu-only coin probably.


I've never made the claim that courts won't attempt to recover stolen value.  I also know, for a fact, that my own coins have never touched any exchange since at least October of 2010.

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You can clearly see the feature set for a new altcoin will drive its adoption in spades.


It might, actually, but that won't be because of some inherent flaw of bitcoin or it's protocol.  Bad image isssues are more difficult to argue against.
142  Bitcoin / Bitcoin Discussion / Re: "Failure to Understand Bitcoin Could Cost Investors Billions" (Bitcoin's flaws) on: February 28, 2014, 01:53:11 AM
...
Agreed on getting one's taxes in order. And trading all your Bitcoin for newly mined coins is probably another good precaution.
...

Another agreement vis-a-vis taxes.  I've been suggesting this for a while, and of course I personally am dotting all my 'i's and crossing all my 't's.  Beyond that, I think it might be advisable to be prepared to declare and document one's BTC holdings.  Do these simple things (while holding one's nose) and one might walk away quite well off.  A bit disappointed perhaps, but tempered with the thought that Bitcoin is mostly an important early proof-of-concept and has already achieved way more than it could have.

I think that if one can document buying BTC from an exchange that will be sufficient to un-taint them.  This because if coins that were legally acquired in this manner were tainted it would be to obvious to early how useless the solution is.

I, for one, am not about to go swapping out my holdings, which are deep in the blockchain, for newly mined BTC.  It could well be that miners who don't 'register', 'certify', get a 'bitcoin license', or whatever, and play along with the tainting protocol and transaction discrimination will have their own mined coins tainted from the start anyway.



I'm missing something.  Why is it wise to trade out for new coins?
143  Economy / Economics / Re: How does inflation start on: February 28, 2014, 01:49:22 AM
Inflation occurs because of expansion of the monetary base relative to it's demand.  What's really happening is that economic growth increases the demand for money/currency, and central banks respond by over-producing.  A cynical person might call that and excuse for bad behavior.  But the central bank expansion is only part of the picture, the other part is the increase in credit issuance.  Fractional Reserve banking permits banks to increase the monetary base temporarily by the creation of new loans without significant reserves.  Said another way, banks no longer need to have deposits in order to make loans, so the interest that the debtor is paying is "new money".  This creates the pressure to create more currency, because the dollars to cover that interest doesn't yet exist.  This is the currency demand that the central bank will eventually use to justify over-production of currency.  However, not all such currency demand is artificial; some occurs due to very natural causes of a growing population and/or economy.  It's impossible to separate the real from the false.  Since this is an ongoing process, inflation is as well; but there can still be short term deflationary events whenever the economy isn't strong enough to support the credit creation, and thus such new loan originations decline.  Therefore, declining credit can also temporarily contradict central bank expansion.
144  Bitcoin / Bitcoin Discussion / Re: "Failure to Understand Bitcoin Could Cost Investors Billions" (Bitcoin's flaws) on: February 28, 2014, 01:36:36 AM
Too easy.  Lips sealed

Really these Bitcoin developers suck (not in technical ability but in terms of knowing which features and third party apps to create). It is like taking candy from a baby to compete with them.

Agreed on getting one's taxes in order. And trading all your Bitcoin for newly mined coins is probably another good precaution.

Well, I hope your confidence isn't unfounded.  I look forward to seeing what coin you come up with and what kind of traction it receives.

Honestly, so am I.
145  Bitcoin / Bitcoin Discussion / Re: "Failure to Understand Bitcoin Could Cost Investors Billions" (Bitcoin's flaws) on: February 28, 2014, 01:35:16 AM
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The Winklevi are trying very hard to convince the feds that Bitcoin is as controlable as they wish it to be, and that they can help them do it.

Regardless, the winklevii lawyers have, by law, stated facts about the bitcoin rules and protocol which include the FACT that the board controls every aspect of the protocol INCLUDING the hard cap.  If fact this is written as a potential RISK to the future of the ETF and not a benefit as it lends uncertainty.

Unless you really think the Winklevoss twins and their lawyers just made that up and the SEC and their team of lawyers are just too stupid to see it.  Let's get real here - the Bitcoin protocol and all its clones were designed from the ground up to be taken over and controlled by banks, govts and Multinationals.

They stated things they claim are facts.  That doesn't change the reality of the matter at all.  Yes, I really think the Winklevi lawyers made that up and that the SEC & their own lawyers are too stupid to see it.  They very much want to believe that Bitcoin can be regulated.  They know nothing of merit about cryptography, programming, decentralization or (for that matter) even economics.  They are lawyers; nothing more, nothing less.  If the Winklevi can make up convincing bullshit, let them.  It might work or it might not.  I don't care.  Unlike the both of you, I actually DO understand cryptography, economics and the Bitcoin protocol.
146  Bitcoin / Bitcoin Discussion / Re: "Failure to Understand Bitcoin Could Cost Investors Billions" (Bitcoin's flaws) on: February 28, 2014, 01:27:50 AM

LOL!  Ya, one would have to be a world-class simp to believe that TBF writes Gavin's checks and have no influence on what he does.  Moonshadow may very well be 'patient zero' here.


Count me as one of those world class simps.  Gavin doesn't have any more influence than we give him.  Just ask MtGOX, who chose to ignore Gavin's rational pleas to fix the mallibility bug in 2011.  As that inicident should point out; even when it's a good idea, and the fix is available, no one must comply.

For good for for bad, Gavin does not control Bitcoin.  He can only make recommendations, and he must justify those recommendations.  Granted, he has more sway with the base than you or I, but if he's not convincing changes don't occur.  Even if he's willing to make those changes himself.
147  Bitcoin / Bitcoin Discussion / Re: "Failure to Understand Bitcoin Could Cost Investors Billions" (Bitcoin's flaws) on: February 28, 2014, 01:22:47 AM


How can the masses be so clueless?

The Bitcoin Foundation board controls and regulates Bitcoin, every little aspect of the protocol, even the hardcap which is a joke to call hard or permanent cause it's nothing more than the carrot in this entire scheme.

No, they don't.  They have almost as much say in the protocol as you do.


Ahahaaaa.  This is what I mean by totally clueless.


You haven't read the SEC filing from the Winklevoss ETF application, have you?

I have and that's exactly the case and it is printed in black and white in the application for the ETF.  But you have to actually think for yourself and do research to understand anything not being spoon-fed to you by the mainstream media.  

The Winklevi are trying very hard to convince the feds that Bitcoin is as controlable as they wish it to be, and that they can help them do it.
148  Bitcoin / Bitcoin Discussion / Re: "Failure to Understand Bitcoin Could Cost Investors Billions" (Bitcoin's flaws) on: February 28, 2014, 12:17:15 AM


How can the masses be so clueless?

The Bitcoin Foundation board controls and regulates Bitcoin, every little aspect of the protocol, even the hardcap which is a joke to call hard or permanent cause it's nothing more than the carrot in this entire scheme.

No, they don't.  They have almost as much say in the protocol as you do.
149  Bitcoin / Development & Technical Discussion / Re: New Digital CB "band" for cryptosystems, i.e. offline bitcoin transactions on: February 22, 2014, 12:29:04 AM
I've been thinking about this one for some time, and I have an early proposal that I'd like to flesh out with the brainiacs to see if there are any glaring errors that I've made, before I make a formal purposal to the FCC.  No, I'm not joking.

Nice!  I thought about "Bitcoin over radio" as well.  Didn't get to the point of deciding exactly which frequencies or modes would be best for the task, though.  Just thought about the general idea, using the model of a ham radio repeater that serves a given geographical region.

The idea is to have some way of ensuring Bitcoin transactions can still be made, even if the Internet is down/unavailable/suppressed in the region.  It would work similar to a ham radio repeater, many of which already support various digital modes.

The repeater (good radio station on a mountaintop or something like that, so it has good reach) would be the only node that would require Internet connectivity.  It would have an output frequency (always transmitting), and an input frequency (always receiving).


This doesn't need that, as the rules of the machine can determine when and under what circumstances the datagram is repeated.  Similar to how packet radio works, only slower.

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The idea is to have the ability to transact by Bitcoin be very survivable.  If the traditional Internet connections are knocked out, either by disaster or intentionally by government trying to do suppression/censorship, the ability to do Bitcoin by radio could be very useful.


It'd be usefull anyway, but particularly during a Internet blackout of a limited term.  If the Internet is permnently and irreversablely destroyed, Bitcoin won't work anymore; but if that were to ever happen, I think I might have bigger problems.
150  Bitcoin / Development & Technical Discussion / Re: New Digital CB "band" for cryptosystems, i.e. offline bitcoin transactions on: February 22, 2014, 12:24:14 AM
As a Bitcoin network, packet forwarding ought to cost some small fee, paid in Bitcoins. The problem is that the Bitcoin system chokes on micropayments. But think about that as an idea for congestion control. Maybe you have to do some proof of work to send packets.

I've thought about very low value bitcoin tipping for forwarding, but I don't know how to do it.  Any suggestions?
151  Bitcoin / Development & Technical Discussion / Re: New Digital CB "band" for cryptosystems, i.e. offline bitcoin transactions on: February 22, 2014, 12:23:23 AM

Yeah, that video has been there for years.  I've been stalling because I was hoping it would amount to more than vaporware.
152  Other / Politics & Society / Re: US health care mandate (Obamacare) on: February 22, 2014, 12:21:23 AM
I think Obamacare is a step in the right direction but still some problems. There's no system that has no problems  the question is about how to solve the problems

Did that attempt hurt?
153  Bitcoin / Bitcoin Discussion / Re: "Failure to Understand Bitcoin Could Cost Investors Billions" (Bitcoin's flaws) on: February 21, 2014, 04:59:12 AM

Appears the number of Bitcoin users is still below 1 million.


Funny how no one metions that you referenced your own opinions about the numbers of users.  Coinbase alone has almost 1 million accounts, not addresses.  Truthfully, we can't know how many users there are, which is kinda the point.

No I referenced and clarified the logic and data of others from the thread and clarified that there is less basis for concluding with great confidence that the number of users is greater than 1 million (an account is not a user for the reasons I stated in the linked post).

The likely number of users was 1 million or below based on the data I quoted in the linked post. The original figure used was 488,000 Coinbase accounts. I have posted your claim and some analysis to that thread.

Unlike yourself, I didn't claim to know of any relationship between any particular claims and the real number of bitcoin users.  I honestly don't know if there are more or less than 1 Million users.  I mentioned it to highlight your lack of evidence.  Referencing the logic and "data" of others, who don't have any evidience of their own, doesn't constitute evidence either.  You do this a lot, make grand arguments that you cannot support.  I'm surprised you're not either a lawyer, a politician or a preacher.
154  Bitcoin / Bitcoin Discussion / Re: I am pretty confident we are the new wealthy elite, gentlemen. on: February 21, 2014, 12:12:19 AM
And dammit I miss Atlas!

He was a character.  Don't assume his actor isn't still here.

is your ron paul avatar stuck there since we can't add avatars right now, or are you still repping Ron Paul? Smiley

Mostly lazyness.  In another year I'll change it to a Rand Paul 2016 avatar.  I've met Rand, but not his father.  Really nice guy, and taller than he looks on tv.  I've also met Dennis Kucinich, who is also a fine fellow, but is much shorter than he appears on tv.

In fact, I've shaken the hands of several current and former politicos.  Not all of them struck me as fine people.  Have you ever had the feeling, upon meeting someone for the first time, of this strange sensation that you would be wise to never be in the presence of this person without witnesses?  I most certainly have, and most of the time this was when I was meeting either a politican for the first time, or a violent convict. One such person is the current US representative in my own district.  He gave me the creeps.
155  Bitcoin / Bitcoin Discussion / Re: I am pretty confident we are the new wealthy elite, gentlemen. on: February 20, 2014, 10:28:46 PM
And dammit I miss Atlas!

He was a character.  Don't assume his actor isn't still here.
156  Other / Politics & Society / Re: US health care mandate (Obamacare) on: February 20, 2014, 04:52:41 AM
I'm not from US, but all I heard about Obama is that he is socialist trying to please people by forcing on them laws they do not want. Obamacare is prime example of that.

There was lots of rooms for improvements for the US healthcare. I believe he wanted his name to be much more than just "the first black US president". The story about his mom suffering, dying at the hospital.. Or was it his grand mother? All of that touching, creating a frame for his story about how this is what needed to be done, no matter what, etc.

Well now do you know how many people got fired because of the frustration, the mistakes of implementing obamacare? None. The company that built the website positioned itself as being the best solution to fix the very website they could not built. How much money did it cost to built this monster? How come no one seems to care about cost any more? I am not even going to mention how a Harvard law US president believes he can act as a dictator regarding what laws should be pushed away or not, delayed or not. He is telling all future presidents how to act like him and, of course, how to dissolve all of his executive decisions.

Now we all know what's in it.
http://www.youtube.com/watch?v=1Mw3DqpfR14

I find the concept of an Obama Presidential Library interesting, because the records would have to all be off limits, and the public areas filled with lies.

Don't you mean that the reference section would be classified and the rest of the library would just be fiction?
157  Bitcoin / Bitcoin Discussion / Re: "Failure to Understand Bitcoin Could Cost Investors Billions" (Bitcoin's flaws) on: February 20, 2014, 02:47:52 AM

Appears the number of Bitcoin users is still below 1 million.


Funny how no one metions that you referenced your own opinions about the numbers of users.  Coinbase alone has almost 1 million accounts, not addresses.  Truthfully, we can't know how many users there are, which is kinda the point.
158  Other / Politics & Society / Re: Mass Obamacare Exchange Chief Breaks Down In Tears Describing Train Wreck ... on: February 19, 2014, 11:22:18 PM

Are you even going to try to substantiate that claim? Stop being so fundamentalist - both socialism and (classic) capitalism are political philosophies designed to increase people's quality of life.

This is provablely not true.  Karl Marx is credited with inventing the term "capitalism" and providing the basic definition, "Private ownership of the means of production".  While this traditional form of property rights trends towards a particular line of political thought, even Marx didn't mark capitalism as a political philosophy.  That was one of the core problems with it that he stated, as it wasn't really a political plan, and instead simply a default state of a society.  He viewed this default state to be less than optimal, and that applying some social enginnering to the economic system would result in reduced poverty.  However, Karl Marx was far from an economic theorist, and completely missed the most important issues.  First off, defining capitalism and socialism as he did doesn't alter the nature of the society; for there were publicly owned corporations within England during the Industrial Revolution (the society that he based his observations upon) and we've seen that private possession (the more important distinction) of the means of production (capital) cannot be designed out of any society, even an ideal socialist one.  A corporation is, by design, a socialist business hierarchy, since the means of production is owned collectively by the shareholders, yet the shareholders do not have possession of the means of production, the employees of the corporation do.  While the shareholders can also be employees, even being a member of both 'classes' of people does not entitle an individual to make any business decision alone about any particular piece of corporate property.  The root meaning of "ownership" is that the "owner" of that property gets to decide what is done with said property; be it land plowed up to plant corn or built upon, a car that can be rented out or not, or a toy that can be thrown away; whoever can make that decision is the owner.  In practice, a corporation has no owner, and only the regulation that pertains to that industry has the ultimate say about what becomes of the corporate property.  So in the end, corporations, as products of the state, are also owned by the state.  Rail against the corporate "capitalism" that you see all around you, but the fact is that what you see isn't capitalism even as Karl Marx defined it, it's just another accidental form of socialism.
159  Bitcoin / Development & Technical Discussion / Re: New Digital CB "band" for cryptosystems, i.e. offline bitcoin transactions on: February 19, 2014, 10:53:13 PM
What would be the expected use cases ? To be able to transmit transactions in areas where you cannot get any cell signal ?
Like buying some goods from a traveler in remote mountains ?

That would be a use case, but certainly not the only one.

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Let's say I want to pay with bitcoins, I build the transaction and broadcast it to the network using my portable CB.
How will a node acknowledge and prove to me the transaction has been correctly transmitted to the Bitcoin network ?

That would require a back channel, if you needed to know.  Such a back channel could be a datacast stream from a DRM station (if you're patient) or an alternative service, such as Iridium Burst.

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Without non taintable proof, I cannot finish the transaction and take the good.

Not with a full client, no.  The white paper does describe a 'light' style client with a reduced security model that could do offline transactions with limitations.  For example, the device would need to be able to communicate with the other light client, which is one use case of my proposal.  Additionally, the light client would need occasional access to a gateway node, in order to update it's wallet.dat; otherwise it would eventually run out of spendable inputs.

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I like very much the idea of backup channels, to be able to use cryptos even if govt shut down the cell towers etc.

It's not really intended as a 'fallback' method.  It's intended as a primary communications method between portable, hardware based light clients; i.e. the kind that are not simply an app on a smartphone.  Additionally, it's intended as an efficient & mostly automatic digital communications mode.  Imagine if you had a device that could send and receive texts to/from people that you have already met IRL to a distance of 5+ miles radius in a single hop, but could also use multi-hop methods to cross a moderate sized city.  Without any kind of ongoing licesnsing or service fees.  A pocket sized device that is a cross between a texting FRS radio and a hardware wallet, that may or may not have a cell service data plan of it's own.  There are other use cases for a 'slow mesh' as well.
160  Bitcoin / Development & Technical Discussion / Re: New Digital CB "band" for cryptosystems, i.e. offline bitcoin transactions on: February 19, 2014, 10:08:38 PM
The filing isn't quite done, but I have the frequency allocation proposal finished.  It's filling number with the FCC is 0158-EX-PL-2014, if anyone is interested.  I filed it as an experimental license application, because there really wasn't a better method.  The FCC doesn't have a method for suggesting completely new ideas.

I'm thinking of calling it a "slow mesh" until I have a better name for it.  Any ideas?
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