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Author Topic: Bitcoin Project will be making a major announcement in September  (Read 53284 times)
paraipan
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August 16, 2012, 10:59:05 PM
 #41

I have no idea what Gavin is talking about, but why would multi-sig or any other known Bitcoin client improvement proposals qualify as a 'major announcement'?  Huh

Soon...


sorry, could not resist

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ninjarobot
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August 16, 2012, 11:15:02 PM
 #42

Perhaps blockchain related improvements? (better pruning, compression, standard client does not have to download the entire chain, etc.)
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August 16, 2012, 11:22:47 PM
 #43

Perhaps blockchain related improvements? (better pruning, compression, standard client does not have to download the entire chain, etc.)

this would be very good news indeed!


i liked this part.
Quote
"I still call Bitcoin ‘experimental,' and still tell people to only invest time or money that they can afford to lose... but every month that goes by both the core system and the supporting infrastructure (exchanges, e-wallets,merchant solutions, storage solutions, etc.) become less experimental and more reliable.

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August 16, 2012, 11:44:45 PM
 #44

It's probably multisig.  Gavin seems to view multisig as a security feature to protect against hacks.  Fewer hacks means less bad press and more consistent growth in adoption.

The single largest problem I see for any reasonable corporation to not adopt Bitcoin is the lack of corporate governance when it comes to private keys and the segregation of duties. There must be proper corporate governance and segregation of duties or the board of directors or management will be liable for breach of fiduciary duty. They will not allow Bitcoin to be accepted if it is going to result in a breach of fiduciary duty. Multi-sig could be implemented in such a way that this hindrance would be completely eliminated.

If Bitcoin can have proper corporate governance and segregation of duty abilities then corporations can adopt it. If corporations can adopt and use Bitcoin then larger capital flows will happen. If larger capital flows happen then there will be greater stability in the price.

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August 16, 2012, 11:56:50 PM
 #45

It's probably multisig.  Gavin seems to view multisig as a security feature to protect against hacks.  Fewer hacks means less bad press and more consistent growth in adoption.

The single largest problem I see for any reasonable corporation to not adopt Bitcoin is the lack of corporate governance when it comes to private keys and the segregation of duties. There must be proper corporate governance and segregation of duties or the board of directors or management will be liable for breach of fiduciary duty. They will not allow Bitcoin to be accepted if it is going to result in a breach of fiduciary duty. Multi-sig could be implemented in such a way that this hindrance would be completely eliminated.

If Bitcoin can have proper corporate governance and segregation of duty abilities then corporations can adopt it. If corporations can adopt and use Bitcoin then larger capital flows will happen. If larger capital flows happen then there will be greater stability in the price.

In the meantime you can use Armory to separate private and public keys.  Armory allows watch-only wallets where transactions can be logged, but not signed until it is signed on the full-wallet.  This allows, for example, you to hire people to process bitcoin transactions without access to the full wallet.

Multisig is waaaaay better though.
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August 17, 2012, 12:11:47 AM
 #46

my guesses:

- Satoshi revealed as purely fictional. This was a 20% project from google that management knew was too disruptive to let continue....but devs knew it was too disruptive to not release.
- experiment is now over....thanks everybody....btc are now convertible to Google Play credits...but no longer mine-able.


Once enough people realize their need of peer-to-peer software like bitcoin and diaspora, they will start demanding it. Ideas are breakproof, with Google or without.
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August 17, 2012, 01:08:09 AM
 #47

I'm not gonna say what the announcement is....but I will say that you are all wrong and no one is even close lol (Well...some of you were kinda close)

-Charlie

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August 17, 2012, 01:18:35 AM
 #48

I'm not gonna say what the announcement is....but I will say that you are all wrong and no one is even close lol (Well...some of you were kinda close)

-Charlie

Dang it!  Now I have to read it all carefully again...after finally agreeing with the multisig camp...

At least it's fun though Smiley

Hardforks aren't that hard. It’s getting others to use them that's hard.
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August 17, 2012, 01:19:12 AM
 #49

(Well...some of you were kinda close)
So someone other than Assange is going to be digitized and smuggled out of the UK?
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August 17, 2012, 01:20:41 AM
 #50

I'm not gonna say what the announcement is....but I will say that you are all wrong and no one is even close lol (Well...some of you were kinda close)

-Charlie
You mentioned something once before I think, about a surprise that will change what people think the government thinks of bitcoins... so I'll guess its some sort of basis for bitcoin being protected legally

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Yankee (BitInstant)
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August 17, 2012, 01:24:24 AM
 #51

I'm not gonna say what the announcement is....but I will say that you are all wrong and no one is even close lol (Well...some of you were kinda close)

-Charlie
You mentioned something once before I think, about a surprise that will change what people think the government thinks of bitcoins... so I'll guess its some sort of basis for bitcoin being protected legally

Ok, I take it back. Your the closest. Nuff said, Im gonna get shot for saying this much.

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August 17, 2012, 01:25:11 AM
 #52

I'm not gonna say what the announcement is....but I will say that you are all wrong and no one is even close lol (Well...some of you were kinda close)

-Charlie

So you are in on the big secret?  Is that itself a clue?  
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August 17, 2012, 02:14:38 AM
 #53

I know! I know! We're all going to Pattaya!!!!!
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August 17, 2012, 02:16:51 AM
 #54

I'm not gonna say what the announcement is....but I will say that you are all wrong and no one is even close lol (Well...some of you were kinda close)

-Charlie
You mentioned something once before I think, about a surprise that will change what people think the government thinks of bitcoins... so I'll guess its some sort of basis for bitcoin being protected legally

Ok, I take it back. Your the closest. Nuff said, Im gonna get shot for saying this much.

You'd think a government would announce something like that. And any change in the law would require an act of congress or the supreme court...I doubt Uncle Sam is ever going to be happy about Bitcoin unless they can control it. Will we see a fork for UncleSamCoins? I doubt that too. Is Uncle Sam gonna allow banks to hold Bitcoin as currency for meeting reserve requirements? I doubt it.

But now I really am curious...

Hardforks aren't that hard. It’s getting others to use them that's hard.
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Phinnaeus Gage
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August 17, 2012, 02:20:10 AM
 #55

Quote
The Bitcoin Project will be making a major announcement in September that should contribute some stability, he said.

Stability in price? That surely can't be the case whether it's at $10, $15, $20, etc., for down the road, after Bitcoin becomes mainstream, the exchange rate should be in the triple digits due mainly to the volume of people using Bitcoin as a utility.

To maintain a pricing stability, the Bitcoin Project would need to be stifled.

~Bruno~
Piper67
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August 17, 2012, 02:20:35 AM
 #56

I'm not gonna say what the announcement is....but I will say that you are all wrong and no one is even close lol (Well...some of you were kinda close)

-Charlie
You mentioned something once before I think, about a surprise that will change what people think the government thinks of bitcoins... so I'll guess its some sort of basis for bitcoin being protected legally

Ok, I take it back. Your the closest. Nuff said, Im gonna get shot for saying this much.

You'd think a government would announce something like that. And any change in the law would require an act of congress or the supreme court...I doubt Uncle Sam is ever going to be happy about Bitcoin unless they can control it. Will we see a fork for UncleSamCoins? I doubt that too. Is Uncle Sam gonna allow banks to hold Bitcoin as currency for meeting reserve requirements? I doubt it.

But now I really am curious...


You know there are governments other than the US government, right?
drakahn
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August 17, 2012, 02:21:08 AM
 #57

I'm not gonna say what the announcement is....but I will say that you are all wrong and no one is even close lol (Well...some of you were kinda close)

-Charlie
You mentioned something once before I think, about a surprise that will change what people think the government thinks of bitcoins... so I'll guess its some sort of basis for bitcoin being protected legally

Ok, I take it back. Your the closest. Nuff said, Im gonna get shot for saying this much.

You'd think a government would announce something like that. And any change in the law would require an act of congress or the supreme court...I doubt Uncle Sam is ever going to be happy about Bitcoin unless they can control it. Will we see a fork for UncleSamCoins? I doubt that too. Is Uncle Sam gonna allow banks to hold Bitcoin as currency for meeting reserve requirements? I doubt it.

But now I really am curious...

... I assume it'd just be "Bitcoins are seen as X" and from then on Bitcoins would have the existing laws of X

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bg002h
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August 17, 2012, 02:25:17 AM
 #58

I'm not gonna say what the announcement is....but I will say that you are all wrong and no one is even close lol (Well...some of you were kinda close)

-Charlie
You mentioned something once before I think, about a surprise that will change what people think the government thinks of bitcoins... so I'll guess its some sort of basis for bitcoin being protected legally

Ok, I take it back. Your the closest. Nuff said, Im gonna get shot for saying this much.

You'd think a government would announce something like that. And any change in the law would require an act of congress or the supreme court...I doubt Uncle Sam is ever going to be happy about Bitcoin unless they can control it. Will we see a fork for UncleSamCoins? I doubt that too. Is Uncle Sam gonna allow banks to hold Bitcoin as currency for meeting reserve requirements? I doubt it.

But now I really am curious...


You know there are governments other than the US government, right?
Uhhh....yes.

Hardforks aren't that hard. It’s getting others to use them that's hard.
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August 17, 2012, 02:30:32 AM
Last edit: August 17, 2012, 03:24:25 AM by Coinoisseur
 #59

Well, I'm comforted that the news sounds positive. Should rule out direct regulation, I would hope.

Hmm, going to put out a guess here. Introduction of multisig to the client and we will see someone launch a licensed bitcoin financial institution with direct client integration. No idea which country it would be based in.

If so I hope client integration will be an open process.

                                                                               
                
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August 17, 2012, 03:46:32 AM
 #60

Greece or some other sovereign nation is adopting Bitcoin as legal tender. Bitcoin will trade on FOREX.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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