Bitcoin Forum
September 26, 2020, 06:35:56 AM *
News: Latest Bitcoin Core release: 0.20.0 [Torrent]
  Home Help Search Login Register More  
  Show Posts
Pages: [1] 2 3 4 5 6 »
1  Bitcoin / Bitcoin Discussion / Re: Visual Artists Accepting Bitcoin on: May 20, 2014, 06:35:07 PM
I'm a tattoo artist in the Los Angeles area, and I'd love to accept Bitcoin.
2  Bitcoin / Bitcoin Discussion / Re: A fraud-proof voting system based on Bitcoin and Zerocoin on: February 24, 2014, 08:42:47 AM
I don't quite get this. You say this:
There would be a public record showing the name of each voter and the public key that is linked to them. The public key is provided by the voter themselves, so they can be certain that only they have the private key for it.

So if the public record (which I assume is the blockchain) has the names, who gets to put the names on it? It sounds like it would require some central agency.

If that's not how it works, and there is no central authority, what's stopping an individual from "registering" several times and casting multiple votes?
3  Bitcoin / Bitcoin Discussion / Re: Apple removing last bitcoin wallet from AppStore Survey on: February 06, 2014, 05:43:40 PM
I'm a reluctant iOS user. I don't love it, but I like it a lot more than anything else out there. Tried several Android devices (currently own a GalaxyS4) and hated them all.

I want something more open. I'm really waiting for some Linux phone that will bring the open-source mentality to the mobile market. The openness is what I thought I would get with Android (compared to iOS), but I'm finding just the opposite. Android is every bit as locked down as iOS, though maybe not in the Bitcoin segment, and the experience isn't nearly as smooth as iOS for me.

I'm wondering, does anyone have any experience with the Ubuntu phone stuff?

Also, are there any Bitcoin wallets that will work on a jailbroken iOS device?
4  Alternate cryptocurrencies / Altcoin Discussion / Re: Klickex on: February 05, 2014, 07:25:30 PM
It indeed seems to be like a Ripple specifically between banks, with each bank having its own gateway to the crypto economy.

Yeah, exactly. And also the company's business is currently to do money transfers between different countries for small transactions. So if this gets widely adopted, which it might considering the central banks are behind it, then it will also be used as a currency in and of itself.
5  Alternate cryptocurrencies / Altcoin Discussion / Re: Klickex on: February 05, 2014, 06:54:02 PM
It's supposed to be centralized though. That seems to be the point behind it, and is why the central banks are supporting it.
6  Economy / Economics / Re: Money is a Claim on Labor on: February 05, 2014, 07:45:45 AM
After all of the above, I don't see how one can deny that Bitcoin has the main feature of money.

I don't believe anyone (anyone significant anyway) has made that claim. People often attribute that line of thinking to Schiff, but that's not what he's claiming. People who are bearish on Bitcoin, like Schiff and myself, simply say that the current price is highly inflated for the reasons you listed. It just seems that the Bitcoin die-hards translate any knock on Bitcoin, in this case its current price, as an attack against Bitcoin itself. But this is not true. The criticism is that the current price is indicative of a bubble, not that Bitcoin itself is a bubble.

The point that Schiff makes about Bitcoin's lack of physical tangibility or inherent usefulness, is to highlight a potential (but not yet actual) void that an alternative competitor could fill. And that it's possible that the competitor might be the state itself. They have already been making moves in that direction.

As to your point about the usability of the Bitcoins themselves compared to gold, I think Bitcoin ends even lower than you give it credit for. The mining system, while it does buy security, is incredibly wasteful and there is no value in its product (gigahashes/sec). At least with metal-mining you're talking equipment, engineering, manpower, and you end up with a metal that has some use. Silver for electronics and jewelry for example. With Bitcoin all you get is ASICS for hashing. And again, already you're seeing competitors filling that void with things like Proof-of-Stake, finding useful Proof-of-Work, etc.
7  Alternate cryptocurrencies / Altcoin Discussion / Re: Klickex on: February 04, 2014, 10:03:45 PM
Nobody wants to talk about this? The move towards a government-backed Cryptocurrency sounds like a pretty big deal to me.
8  Alternate cryptocurrencies / Altcoin Discussion / Klickex on: February 04, 2014, 06:36:01 PM
I'd love to have a discussion about this. Just saw this presentation:

They're calling it Cryptocurrency 2.0, and it's supposedly asset-backed, though it seems like the asset is local currencies. What's significant about this is that it seems like it has the support (and backing) of the central banks. So it looks like this is the direction they want to go in.

What do you guys think about this? Does it have a chance to succeed? When launched, how will Bitcoin fit into that system?
9  Bitcoin / Bitcoin Discussion / Re: What is the right and fair way to stop Mike Hearn? on: January 25, 2014, 06:46:47 PM
Great question! The talk was only 15 minutes (a lot of people were standing the whole time), so there is a bunch of detail that I glossed over.

The proof you present is proof you ran a program correctly. Thus the hash can be salted, memory hard or whatever you want to do. Now I think there is a legitimate issue here which is that the space of valid passports is not very large - even in the best case of 100% ownership it's O(size of country) so even if the hash is salted or whatever a government that wanted really badly to deanonymize its citizens who are running nodes could potentially brute force every single hash. This is especially an issue because a program that's being proved runs much slower than a normal program would. So there's some perhaps some more work to do here.

I'd love it if someone could expand on this a bit more.

If the proof that you present is that you ran a program correctly, then what proof does the verifier have that you ran the program on the "correct" input? (A passport in this case). Is there some standard input there? Meaning, does one version of the input (say a Chinese passport) equal to another (a German passport)?

Also, what if someone wanted to make Bitcoin-specific identification that would be compatible input for this program? Are we saying that only governments should be allowed to issue this input? What if in the future we discover a better solution than government-issued ID? Like say something Biometric-based that can be verifiably shown to give only one-key per person.
10  Bitcoin / Bitcoin Discussion / Re: [Offically Announced] U.S. Set To Sell All Silkroad's Bitcoins on: January 17, 2014, 07:59:00 AM
Soo.... hold on now. The activities of the Silk Road were so nefarious that they just had to get shut down. We can't have evil people giving money to some DPR kid. But hey, it's fine if the government profits off of those same nefarious acts? So it's wrong for people to profit off of illegal drugs, but perfectly fine for the government to now profit off of it?

If they really want to set an example, I say they should destroy the coins.
11  Bitcoin / Bitcoin Discussion / Re: What are the chances BTC is replaced by something better soon? on: January 15, 2014, 05:46:47 AM
The way I see it, Bitcoin has some serious issues at the moment.

Proof of Work is a huge problem in my mind right now. It's a pretty big barrier of entry, you basically need lots of money to get into mining to buy hardware, and combined with mining pools, this creates too much centralization. This is coming to light now with the Ghash story. But even if Ghash were to disappear today, then all that means is that the power is centralized in the next couple of pools. Either way it's very few people who have quite a bit of control over the network.

It's still very difficult to get into. It's either registering with an exchange, or going on something like and trying to find someone. Then on top that, the problem gets compounded by the enormous price fluctuations.  Bitcoin price volatility has been a huge issue for a long time for many people.

Security is also a big risk. People are used to just putting their money in the bank and feeling safe. But now you have to keep your own Bitcoin yourself somehow. Lots of people have lost quite a bit of Bitcoin that way.

So another Cryptocurrency can take advantage of these issues (and many more) and take over Bitcoin in that way. Proof of Stake looks to be one up and coming alternative that's already feasible.

But here's the thing. None of these things are inherent in Bitcoin. They could all get fixed at some point in time. Emphasis on 'could'. It's possible the Proof of Work situation will change into something else, and although this seems very unlikely at this point, the situation may be forced on us if the pools decide to abuse their power one day. Trading fiat for BTC may become easier as more services move into that space. Even security is surely to improve over time with better wallet software, and even hardware-wallets in the future.

So in my mind it really all depends on what happens in the Bitcoin arena in the upcoming years. If enough of these problems get addressed, then there's really no room for Bitcoin to be replaced by anything. But if they don't, then it's almost a guarantee that something will replace Bitcoin.
12  Bitcoin / Bitcoin Discussion / Re: has voluntary to suspend parts of service! on: January 11, 2014, 07:45:39 PM
For my money, this story isn't getting nearly enough attention.

Everyone is all up in arms about Ghash. But that's only part of the story. The fact is that for quite a while now over 50% of the hashing power is controlled by very few people. Bitcoin's hashing is quite centralized, and this is a huge issue for me. Bitcoin is supposed to be decentralized in essence. Yet one of the primary functions is effectively centralized.

I don't see what difference does it make that Ghash is ramping down, or that people are moving away from Ghash. They're just moving their power from one pool to another. The end result is exactly the same. The hashing power is controlled by the same few individuals.
13  Bitcoin / Bitcoin Discussion / Re: Bitcoin + Boinc - A truly revolution? on: January 02, 2014, 06:22:27 PM
Gridcoin, what you're saying sounds like it's a bit centralized, isn't it? If you need a central SQL database to keep track of things, then there has to be an entity in charge of it right?

I've also never heard a solution to the problem of people mining random problems, and then just waiting for one of the solutions to become relevant. Is there a way around that now?

With hashes you can't tell what hash is going to be next. So it's pointless to try and premine the next block. This is how I understand it anyway.
14  Bitcoin / Bitcoin Discussion / Re: Will this cause France to get into Bitcoin - 75% Tax on Rich on: December 31, 2013, 05:54:37 AM
This law is complete nonsense. They're charging it on salaries? As if the top 1% this is supposed to hurt even earn salaries. All their money comes from dividends, capital gains, bonuses, etc.

This is the French top 1% making it harder for the French top 2% to ever join them.
15  Bitcoin / Bitcoin Discussion / Re: The intersection of Bitcoin and gaming on: December 29, 2013, 07:40:37 PM
I reckon you should still do an in-game crypto coin, just pick one of the others.  Risk of attack can be mitigated by accessing the wallets only in game, shirley?

It's a bit too late now. This project is already under way.

But the problem in theory still remains. It's that we'd have to keep their private keys somewhere, and it's then it's our responsibility to secure them. Either we keep the keys on our servers, but then our servers become a target. Or we keep them on the client, but then those files become the target for trojans and whatnot.
16  Bitcoin / Bitcoin Discussion / Re: The intersection of Bitcoin and gaming on: December 29, 2013, 01:13:33 AM
Yeah, exactly what Occham said.

It's actually even simpler than that. If we make the in-game currency some arbitrary thing (like gold in other MMOs, we went with Credits for the sci-fi theme), then we can easily have you buy a pack on Steam. We don't ever even see your credit card. No need to ever charge our customers directly.

Our thought was to take it up a notch and use Bitcoin as the actual in-game currency. But that would be akin to associating a credit-card with each account, and having the in-game currency be the balance on that credit card. Then our in-game currency is essentially the USD, Euro, or whatever the player is using. This would be a nightmare. Just the exchange from one fiat to another would be huge. Bitcoin theoretically solves all those problems, which is why we considered it. Plus it's just cool as shit to do something like that.

But securing everyone's wallets is just not something we can handle.
17  Bitcoin / Bitcoin Discussion / Re: The intersection of Bitcoin and gaming on: December 28, 2013, 09:41:15 PM
I'm a game developer, and we thought at one point of using Bitcoin as the in-game currency of a space-civ type game. The main problem we ran into is security. We can't expect our players to all keep their own wallets and run a Bitcoin node. They could if they wanted to, but for the average player we'd have to generate a wallet for them and keep it on our servers. This means that in addition to a game, we basically also need to make and support an online wallet. Most importantly, keeping it secure, which is way outside our realm of expertise.

We figured we'd be the target for theft and it just doesn't make sense to take on that much responsibility.
18  Alternate cryptocurrencies / Altcoin Discussion / Re: Your picks for best altcoin on: December 28, 2013, 07:47:47 PM
NXT sounds interesting. But I don't really get why people are so into it so soon. It's cool that it's 100% Proof of Stake. But it's also closed-source, so how can anyone trust it? At the same time, how do you even get NXT-coins? Seems like you have to buy them since they've all been pre-mined.
19  Bitcoin / Bitcoin Discussion / Re: Why Bitcoin changed the world... and its price will crash on: December 28, 2013, 12:04:09 AM
That's the thing that's keeping me hopeful that a Bank or a Government won't be able to compete with Bitcoin.

I'm hoping that people have been burned enough that if some big bank decides to make its own cryptocurrency, people would shy away from it just because it's a bank.
20  Bitcoin / Bitcoin Discussion / Re: Why Bitcoin changed the world... and its price will crash on: December 27, 2013, 10:54:42 PM
Why couldn't they?

Because they have already done that and it failed.  The USD was pegged to gold up until 1971, at which time the Nixon administration arbitrarily decided to cease USD convertibility into gold.  The USD has lost 83% of its value since that time.  This is the entire problem bitcoin solves.  

That doesn't make any sense. You're saying the USD was pegged to gold until 1971. That's true. So that means that they can in fact peg it to gold. Just that it will fail eventually. I wasn't saying it won't fail, it will, but it will take decades to fail. Maybe even 100+ years just like how the USD is still around.

So again, why can't they?

Well yes, technically they could, but there is no point in trying something that has already failed when you have a far superior system.

Oh yeah, and I totally agree. But would the general public agree?
Pages: [1] 2 3 4 5 6 »
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!