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Other / Off-topic / Re: Creating new digital USD (for the Federal Reserve)
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on: July 29, 2015, 08:32:29 PM
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I might be interested. Can you use them to buy bitcoins?  It would be great if the fiat fiends would come up with an electronic paymwent method that was irreversible. That would undoubtedly become the preferred way to buy and sell bitcoins. |
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3
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Bitcoin / Bitcoin Discussion / Re: My criticism of BitCoin
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on: July 25, 2015, 04:36:25 PM
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I could also list a lot of reasons why I don't like USD, but what choice did I have before Bitcoin came along? I was stuck having to use fiat due to a lack of alternatives. Perhaps the best thing about Bitcoin is that you're free not to use it if you don't want to.  |
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6
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Bitcoin / Bitcoin Discussion / Re: Should Gavin resign from developement of Bitcoin? [POLL]
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on: June 06, 2015, 07:42:03 AM
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Blocks aren't even full, goofy.
Do you prefer to fix a problem or to avoid it? It's good to have a solution at hand but it's called "obsessive compulsive bahviour" if you fix problems that don't exist. You mean like waiting until your engine dies before worrying about putting more gas in the tank? Maybe Gavin has OCD. Ever thought about that?
Or maybe he's just proactive instead of reactive. Ever thought about that? |
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Bitcoin / Bitcoin Discussion / Re: Why don't we create a whole new perfect crypto and call it bitcoin?
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on: June 06, 2015, 05:10:57 AM
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do you know how some altcoins can process many more transac than bitcoin and why doesn't bitcoin use the same system? they aren't secure? they aren't decentralized?
I don't really pay much attention to the altcoins, but those who don't like the way Bitcoin works don't have to complain about it, they can just switch to another currency. No one is forced to use bitcoins. |
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9
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Bitcoin / Bitcoin Discussion / Re: World's Biggest Bitcoin Holders
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on: June 04, 2015, 07:55:38 AM
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At one time, the FBI held the distinction for single largest holding of bitcoin after the SilkRoad raid. But I think they've auctioned them off since then.
Tim Draper bought a big chunk of the bitcoins that were seized and auctioned off. |
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10
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Economy / Economics / Re: Would any government allow foreign currency to circulate in domestic economy?
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on: June 01, 2015, 02:23:27 PM
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Thanks for the link. I went through the list, most of those countries are small countries who does not have a sound monetary system thus rely on a larger and more established foreign currency. But anyway it seems there are different scenarios for having a currency substitution, maybe bitcoin will work as currency substitution under certain circumstances. Unfortunately so far it works best for the drug dealer and money launderer, which is not going to help to increase the positive attitude from the government If you think government is ever going to embrace a currency that they and their cronies can't manipulate and create, then you don't understand government. |
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Bitcoin / Bitcoin Discussion / Re: Is Blockstream the reason why 4 core developer won´t increase the blocksize?
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on: May 31, 2015, 06:40:47 PM
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...The only reason Maxwell has been pushing side chains (if you follow the arguments from the beginning) is because they would allow needed features without bastardizing the original design of Bitcoin. If you're going to change something as fundamental to the original design of Bitcoin as block size why don't you just increase the max coins above 21m or lock the mining reward at 50 coins? The only way to change a basic core design feature of Bitcoin is to admit that the design is flawed. If that's the case then design a new coin that's not flawed, implement all of the corrections you want to the new coin and end this failed experiment. To me this argument is no different than PoW vs PoS. You can't fix that midstream. You need to start over.
But the 1MB limit wasn't part of the original design. Here, Gavin explains: Back in 2010, after Bitcoin was mentioned on Slashdot for the first time and bitcoin prices started rising, Satoshi rolled out several quick-fix solutions to various denial-of-service attacks. One of those fixes was to drop the maximum block size from infinite to one megabyte (the practical limit before the change was 32 megabytes– the maximum size of a message in the p2p protocol). The intent has always been to raise that limit when transaction volume justified larger blocks. |
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Bitcoin / Press / Re: [2015-05-27] CCN: Top 10 Countries in Which Bitcoin is Banned
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on: May 27, 2015, 09:03:48 PM
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Surprised by the Bitcoin ban in countries such as Sweden and Iceland. I was thinking that these countries were more "progressive". On the other hand, the bans in India and China are hardly surprising.  They have to force their citizens to use money that they can create more of in order to pay for all of that so-called "progress". |
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Bitcoin / Press / Re: [2015-05-15] Xapo Moves to Switzerland Citing Customer Privacy Concerns
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on: May 16, 2015, 11:37:06 AM
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Unfortunately, I think it will become commonplace for American individuals and companies that want to use Bitcoin to locate elsewhere to escape the regulatory burdens. The polticians and bankers here simply are not interested in the type of freedom and privacy that Bitcoin allows. I think we'll see other jurisditions laying out the welcome mat for them in hopes of becoming a thriving center of financial services and activity in the future.
As others have already indicated, I'm not sure Switzerland will be one of those places based on their past capitulation to the demands of the USA.
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Other / Politics & Society / Re: [2015-05-07] - DEA to traveler: Thanks, I’ll take that cash
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on: May 07, 2015, 11:28:47 PM
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...seized during his trip out West not by thieves but by at the Drug Enforcement Administration...
Fixed. His attorney describes the situation more accurately than the author: “What this is, is having your money stolen by a federal agent acting under the color of law,” said Michael Pancer, a San Diego attorney who represents Rivers, an aspiring music video producer. “It’s a national epidemic. If my office got four to five cases just recently, and I’m just one attorney, you know this is happening thousands of times.” Fortunately, this will soon be a thing of the past for Bitcoin users as wallet technology improves. |
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