If the foundation chooses to support this idea, it will be the day when Bitcoin splits. In one way or another, there will be two different Bitcoin protocols, be it in the form of an altcoin or as a hard fork. I hope they make the right decision, which is obvious in my mind.
mikes idea is not acceptable of course. it will be interesting so see, what the devs of Litecoin will do... What can they do? There's not much anyone can do about things like this. As Carlton has already pointed out, this isn't a protocol change. Tracking coins and creating whitelists/blacklists/redlists/bluelists is possible and open for anyone to do due to bitcoin's (and all other cryptocoins) design. |
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once people ignore the media propoganda and look at what coinvalidation actually proposes
EG
not redlisting coins (thats mike hearns idea not coinvalidation... two separate subjects)
not adding ID info to every users pubkeys (thats a hysteria idea from who knows where it originated, but obviously a conspiracy fanboy)
not making coins unusable. (coinvalidation and exchanges are businesses. not government or banks. only a bank/court order or fincen can demand funds to be 'frozen'
not going to become a REQUIREMENT of bitcoin ecosystem (coinvalidation are a business, they are NOT judge dredd.. they are not the law)
not affecting businesses that do not deal with FIAT on behalf of customers
but instead
to have a santa's naughty and nice list of BUSINESS OWNED addresses. to make it easier for exchanges to rate the risk of transactions by being able to put checks in place to for instance:
report to fincen a 25BTC to FIAT transfer which the BTC has only a 2 hop TXID from silk road. as being high risk *
or
not to report to fincen a 25BTC to FIAT transfer which the BTC has a 20 hop TXID from silk road. due to being low risk *
to advise the bitcoin businesses that deal with FIAT on behalf of customers to comply with the same fiat regulations that have been around for decades
* businesses themselves will pick what they classify as high or low risk as park of their compliance handbook
i see no problems with coinvalidations current proposals. but reading other threads about mike hearn wanting the actual coins redlisted... now that is a bold and obsurd idea to even conceive.
+1 to this. This (a) doesn't seem that nefarious to me and (b) there really isn't any way to prevent somebody from doing this sort of thing. Don't support them, or do business with them, whatever. But this has been inevitable for a long time, and I don't think it's that big a deal. |
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Among the lessons I've learned as I've watched the bitcoin market since early 2011: Elliot Wave Theory is bullshit.
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I'll sell some when I need/want the USD I'll get in return if I can't just spend it directly. I don't have a specific exchange rate target.
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I don't get it. Everything looks normal to me.
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This reminds me of those Verizon reps that were unable to grasp the difference between .002 dollars and .002 cents. All the way up to the managers at the call center. They all had such a poor education of basic math, that they simply were unable to grasp the difference.
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yeah right and let me guess, all the buy and hold forevers are going to come back to this forum after bitcoin has crashed and claim they sold within $10 of the top.
All the buy-and-hold forevers have seen many such topics at $7, $14, $30 levels. We pity you. Don't forget $0.5, $1, $2, $3, $4, $5, and $6. |
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Yeah quite a few hacks in the past weeks. Right now there are a lot of problems, but I think security will come in time naturally as more people become interested educated.
Fixed |
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14 hours later i'm still locked out of my gox account due to some bug where OTP magically appeared on my account and gives me invalid code when i don't have one set up. I found in the service section someone else has this issue.
I missed the sell at 390 and rebuy at 360.
I also had fiat i wanted to buy back into at 365 mark with, which totally flopped.
14 hours later, I still can't access my account still and watching the price float upwards. Support ticket hasn't even been assigned. How much money have these guys made off me and others? Unacceptable.
As soon as they fix whatever is locking my account (will probably be days) i'm going to market buy, withdraw everything and specifically email them to shut down my account.
Furious. B*stards.
always have multiple avenues into and out of this market... Also, don't use MtGox. |
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In the long run it may very well have been a good investment. I would recommend any (adult) friend to consider buying right now.
Since you are a minor, lectures are not optional:
[lecture]
You should have convinced your parents instead of doing it behind their backs. Would I have been your dad, I would have been mad and proud at the same time. These kinds of decisions are for adults. Period.
[/lecture]
+1 |
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Looks like China is making a move...
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The thing is, a lot of new users to bitcoin are going through the same painful education the rest of us got a few years ago. Bitcoins are digital property. Don't trust 3rd parties with them.
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btcchina's order book looks primed for a move one way or another.
i think its either going to go up or down We'll yeah, but the point is that most of the western books look like they're in a holding pattern with nobody willing to provide any depth near the spot price. BTCChina, on the other hand, has healthy depth building on the bids side. That doesn't really tell you where things will go, but it is, I think, and indication that at the very least there should be significant movement one way or the other soon. Sellers could look at it as a chance to liquidate significant amounts without much slippage, which would probably push the price downward. Buyers might look at is as building competition for bitcoins, which could induce a healthy round of buying if somebody decides to break ranks and buy into the sell orders. So there you go. |
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btcchina's order book looks primed for a move one way or another.
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I know I'm late to the party, but you know what's really annoying...when people post about how this or that service is compromised, but then don't post the password they used. That's all I have to say.
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Via Reddit wrt. Mr. Weisenthal: submitted 15 minutes ago by 3itc0inEntrepreneur You probably heard all the ruckus last week when Joe called Bitcoin a "Joke"... well I have a feeling we won't be hearing much from his corner anymore on the topic. http://www.businessinsider.com/bitcoin-is-a-currency-for-clowns-2013-11itBIT, the new Bitcoin exchange that has landed over 5.5 million in venture funding from 3 different parties- one of which is RRE Ventures. RRE Ventures is a venture funder of Business Insider (where Joe works). In addition to investing several million dollars in BI, RRE's cofounder sits on the Board of Directors for Business Insider. http://www.crunchbase.com/financial-organization/rre-venturesKnowing Henry Blodget background, it would not be good business to have your Editor-in-Chief dogging and attacking your shareholders other investments. Especially considering how much time BI spends glorifying Jeff Bezos, one of their other key shareholders. Connect the dots, Joe will probably have to shut his mouth and Jim Edward will handle most of the BI stories on bitcoin for now on. Good riddance. I hope they don't force him not to express his views about bitcoin, merely because he disagrees about its utility and value, and I'm skeptical that they would. Granted, it'd be nice if he could post more thoughtfully about the topic (I know that may sound odd coming from me...). |
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I just don't see how bitcoin could become a major currency to buy and sell goods without the volatility issue being mitigated first. This is why I think the 400 billion market cap should come first, and afterwards the whole currency shabang.
I think this is right. Bitcoin, as a decentralized currency, simply can't be brought into existence as a usable currency by the standards of what we're all used to right out of the gate. Its design ensures that that cannot be the case. Its design practically demands it be a speculative vehicle at the get go (for who knows how long). What's really interesting is that it's attraction as a speculative vehicle during it's growth phase is, it appears, a necessary step to becoming a decentralized currency (in the useful sense we're all used to in terms of stability, etc.). If it weren't for its speculative attraction, how would it ever reach a valuation capable of handling lots of transactions for lots of products (from homes to candy bars) on an international scale? Speculation is necessary, and welcomed. When you start with an idea as brilliant as Bitcoin, yet it's initially worth nothing, you are going to have a long and volatile price discovery period. Speculation, even though it may not seem so from a casual glance, provides liquidity and reduces volatility. A decentralized, voluntary solution probably isn't going to reach it's maximum potential instantly. It's going to take time. We've barely cracked the surface here. Completely agree. |
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oh shit! buying everything in sight! thanks for the heads up!
Oh shit, I just bought my own table. |
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