I've lost all faith in the system. Bitcoin is my last hope!

[BYONDIIx]

...I see even this decentralized haven being turned into a Free-for-all winner, winner takes all system. How can a Londoner save Bitcoin and himself?

[pawel7777]

...I see even this decentralized haven being turned into a Free-for-all winner, winner takes all system. How can a Londoner save Bitcoin and himself?

The Londoner can start with elaborating a bit more on what problem the Londoner sees in the system (and himself?).

[gambit1]

Yes, specifics please. Also bitcoin is still rather small. All of us on this website, to some significant extent, are the system.

[Mr. Forum]

Will you please be detailed to expound on this matter. What are some of the key things that have made you loose hope in the system. As forum mates, it will be a plus to us when we understand the dangers that await us so that we all don't fall in the same ditch. Being also able to explain the fact that you have decided to rest the case on Bitcoin as you hope. Have you found details and some of the key benefits of bitcoin especially during this time when they are having negative ridicule?Thanks.

[Lauda]

Initially I though that you were talking about the current system that we all live in. The system that does not care about its people, but solely cares about money. Putting this aside, you can't change Bitcoin at will. Bitcoin is strong because it is decentralized.

[BYONDIIx]

First things first. I'm over the moon that the community didn't let Gavin Andresen and Co. to hijack Bitcoin..but that is old news.
I lost faith in the current system a long time ago (I'm talking about society in general). It's been broken for awhile now..you may be asking how.
Well let me explain.

1) Every Tom, Dick and Harry knows (or atleast should) that 1st world democracy is a farce. Anyone with even a remote understanding of democracy would know that in its current form being utilized worldwide. Democracy is just an elective dictatorship.

Bitcoin (Blockchain) can change all that. We could actually have a government that is made up of the people instead of groupings in society hell bent on achieving their own goals. There is more I'd love to elaborate on but I don't want this to turn into a wall of text.

[Denker]

Initially I though that you were talking about the current system that we all live in. The system that does not care about its people, but solely cares about money. Putting this aside, you can't change Bitcoin at will. Bitcoin is strong because it is decentralized.

You're so right. This system does only care about the people staying very very close to that system. Every other behaviour gets suppressed and opposition's life manipulated as much as possible.

Example --> U.S. Drone Whistleblowers' Financial Accounts Frozen.

https://twitter.com/JesselynRadack/status/668253880271114240

[BYONDIIx]

My greatest fear is for this technology that's supposed to free us is going to be used to oppress us.

[virtualx]

...I see even this decentralized haven being turned into a Free-for-all winner, winner takes all system. How can a Londoner save Bitcoin and himself?

You can get started with Bitcoin, an Peer-to-Peer Electronic Cash System, with the steps described here: https://bitcoin.org/en/getting-started
To make the bitcoin network more stable, run a full bitcoin node. To save bitcoin, earn them in the services section, trade them on localbitcoins, sell goods or buy them.

My greatest fear is for this technology that's supposed to free us is going to be used to oppress us.

Any technology is used for good and bad.

[Denker]

My greatest fear is for this technology that's supposed to free us is going to be used to oppress us.

This can only happen if you have to use some kind private blockchain coin.Let's call it Fedcoin. For this to happen the banks and governments have to abandon cash first.Then they have to confiscate all your gold, silver, copper, jewelry and any other assets in physical form. And of course Bitcoin must have been destroyed.Only then you would be slave and be totally controlled in every aspect by their system.
Good thing is:
1. People will try to invent other physical forms of money or go back to barter trading
2. Bitcoin will not get destroyed!!!
3. Therefore you will always have a choice. Don't be feared! Show resistance!

[BYONDIIx]

Running a bitcoin node myself is okay for now but due to size of blockchain it will involve too much cost to store that data in the near future. Surely running a full node has actual uses for people like merchants?

[franky1]

Running a bitcoin node myself is okay for now but due to size of blockchain it will involve too much cost to store that data in the near future. Surely running a full node has actual uses for people like merchants?

merchants will use bitpay/coinbase. thus for the 100,000 merchants there is only really 1 or 2 nodes needed practically.
however exchanges and payment gateways will want to run full nodes... just a shame there is less than a dozen of them.

the issues people raise about being a node are exagerated.

1mb blocks=52gb a year max bloat.. (so far there has not been 52gb a year bloat, so relax)

8mb blocks = 416gb a year bloat..
32mb block=1.6tb a year bloat.

yet even with 1.6tb potential bloat per year. i can buy a hard drive that can handle a few years of potential maximum 32mb/block bloat.. for under $150/£100..

its not like you need to be a millionaire, running servers.. its just a £100 4tb hard drive.

[jugador]

My greatest fear is for this technology that's supposed to free us is going to be used to oppress us.

This can only happen if you have to use some kind private blockchain coin.Let's call it Fedcoin. For this to happen the banks and governments have to abandon cash first.Then they have to confiscate all your gold, silver, copper, jewelry and any other assets in physical form. And of course Bitcoin must have been destroyed.Only then you would be slave and be totally controlled in every aspect by their system.
Good thing is:
1. People will try to invent other physical forms of money or go back to barter trading
2. Bitcoin will not get destroyed!!!
3. Therefore you will always have a choice. Don't be feared! Show resistance!

Isn't it possible that regulatory agencies start massive buying bitcoin (and offline storing it)  in order to drain the liquidity from the whole system?

[franky1]

Isn't it possible that regulatory agencies start massive buying bitcoin (and offline storing it)  in order to drain the liquidity from the whole system?

regulatory agencies dont have the budget..

however one silly forum member proposed trying to get the IRS to accept bitcoin directly..

well if that ever happened and people handed over 10% of their pay.. within 12 months a 1btc wage payment would turn into 0.71 hoarded by the IRS and 0.29btc left in circulation, once its passed through 12 peoples hands..

so yea, once the IRS has 71% of coin market.. they can do what they like to control the markets.

so lets make sure tax agencies never ask for bitcoin direct.. and lets instead just give them the debt notes known as fiat..

[unamis76]

Lost all the faith that I've ever had on the system long time ago, way before Bitcoin was created... (never had much to begin with). As for Bitcoin it doesn't have to be saved. Each day that passes makes it more difficult for someone to control Bitcoin, so no winners and no losers

[BYONDIIx]

its not like you need to be a millionaire, running servers.. its just a £100 4tb hard drive.

The cost of running a full node is more than just 4tb hard drive worth.

[franky1]

its not like you need to be a millionaire, running servers.. its just a £100 4tb hard drive.

The cost of running a full node is more than just 4tb hard drive worth.

lol right.. so having a computer and electric and internet is the exception..

yet just to be interested in bitcoin, like reading this forum without even rnning bitcoin core.. requires computer, electric, internet.. so there is no "extra" costs if you suddenly want to run a node... apart from........................ a large hard drive to cope with FUTURE potential bloat.

right now evena 64gb memory stick can cope with holding the blockchain right now and for a few months.. so costs right now are not a big thing. and as i said in my last post.. to cope with bloat FOR THE FUTURE is only a £100 extra expense..

its actually more expensive to buy and keep up with the latest Call of Duty franchise. then it is to keep up with bitcoin

[meono]

its not like you need to be a millionaire, running servers.. its just a £100 4tb hard drive.

The cost of running a full node is more than just 4tb hard drive worth.

Stop lying idiot, you've never ran a node dont you?

[BYONDIIx]

its not like you need to be a millionaire, running servers.. its just a £100 4tb hard drive.

The cost of running a full node is more than just 4tb hard drive worth.

Stop lying idiot, you've never ran a node dont you?

I've got a raspberry pi running a full node. I came on here  trying to figure out how to get merchants to do the same.
As it stands they can employ centralized services, so why would any merchant run a full node?

[CryptoSalad]

buy up what bitcoin you can and hold for the future. Buy bitcoin and trade it and do some good trading to earn maybe 2 to 3% per day but will need a good capital starting point in order to succeed and gain a good income from. Buy into new starting cryptos and take a gable they start and last a long time and have a good growth in value. Continue at it and work hard it will pay off and you will succeed in earning with crypto for a long time to come.

[Lauda]

The cost of running a full node is more than just 4tb hard drive worth.

Completely wrong. If you have extra HDD space, and already an unlimited internet connection then the cost could be considered as null. I tend to run mine from time to time whenever resources are available. It's pretty cheap to run a full node.

[BYONDIIx]

Can someone tell me why a merchant would run a full node?

[cjmoles]

The cost of running a full node is more than just 4tb hard drive worth.

Completely wrong. If you have extra HDD space, and already an unlimited internet connection then the cost could be considered as null. I tend to run mine from time to time whenever resources are available. It's pretty cheap to run a full node.

Yup, I've always ran a full node...never noticed any difference accept the amount of time it takes to synchronize, which could be agonizing at first.  I do, however, use an online wallet for many of my transactions but that's for reasons beyond the scope of this topic.  Running a full node adds security to the system so it provides the community with a little more control over the system in case of an all out assault on the online wallets and exchanges.

[Amph]

Can someone tell me why a merchant would run a full node?

because they will help the network, which mean that they will help their own business, i think any merchants in his right mind, would do it

it's not expensive either for them

[kpitti]

Can someone tell me why a merchant would run a full node?

because they will help the network, which mean that they will help their own business, i think any merchants in his right mind, would do it

it's not expensive either for them

I agree with this. Merchant should run full node right. The question is that Merchant will run what was prepared for him by someone who will build such option. Then merchants will run full nodes. Merchants are not necessary skilled in IT and will not build full node without understanding technology. It needs to be prebuild for them.

[franky1]

Can someone tell me why a merchant would run a full node?

because they will help the network, which mean that they will help their own business, i think any merchants in his right mind, would do it

it's not expensive either for them

I agree with this. Merchant should run full node right. The question is that Merchant will run what was prepared for him by someone who will build such option. Then merchants will run full nodes. Merchants are not necessary skilled in IT and will not build full node without understanding technology. It needs to be prebuild for them.

99% of merchants do not even touch bitcoin... as the tx's are handled by bitpay/coinbase. thus bitcoin is not really part of their business..

however certain merchants who have their own bitcoin payment system and handle it themselves, also paying staff with bitcoin, would by default find that it makes sense to run a full node. not just for the utupian community love of helping the network.. but more so because running a full node is better then trying to handle payments using webwallets and light clients

[BYONDIIx]

Can someone tell me why a merchant would run a full node?

because they will help the network, which mean that they will help their own business, i think any merchants in his right mind, would do it

it's not expensive either for them

I agree with this. Merchant should run full node right. The question is that Merchant will run what was prepared for him by someone who will build such option. Then merchants will run full nodes. Merchants are not necessary skilled in IT and will not build full node without understanding technology. It needs to be prebuild for them.

99% of merchants do not even touch bitcoin... as the tx's are handled by bitpay/coinbase. thus bitcoin is not really part of their business..

however certain merchants who have their own bitcoin payment system and handle it themselves, also paying staff with bitcoin, would by default find that it makes sense to run a full node. not just for the utupian community love of helping the network.. but more so because running a full node is better then trying to handle payments using webwallets and light clients

I'm glad someone is plugged into the real world. So as it stands a brick and mortar shop has no reason what so ever to run a full node.

[MaxTax]

If Bitcoin is your last hope, best thing you can do is invest everything in it and hope for the best.

It's not stable enough to invest all that you have in bitcoin.

[jyakulis]

My greatest fear is for this technology that's supposed to free us is going to be used to oppress us.

Hmm, I worry about this myself.

There's all kind of other alt coins to go to though.

[Tstar]

Before getting seriously involved in Bitcoin please do a lot of research/study! That's the best start: there's nothing perfect in this world and BTC makes no difference. If you understand it for what it is then welcome! Study my friend! Welcome onboard mate!

[Kprawn]

I still say, some sort of reward system or incentive system should be started with donations from passionate Bitcoiners to reward people running a full node. I know this is not a

popular suggestion, but at some stage someone should start considering such options to sustain the network. The voluntary thing will not fly far, when Bitcoin goes mainstream and

the Blockchain becomes VERY bloated. Expecting merchants to do this, will be unreliable...  .... Back to the topic... Yea, I also lost faith in humanity a long time ago.. lately

everything revolve around money and power... and the minions are crushed in the wake. 

[countryfree]

So, where's the trouble? I have no faith in the system, nor in democracy, but that doesn't stop me from having a normal family life. As much as I can, I'm just living without taking part in anything public. I pay VAT when I buy something, I pay airport tax when I'm flying and I pay gas about several times what it's actually worth because I'm in Europe, but I'm supporting any government which I help funding.

[meono]

its not like you need to be a millionaire, running servers.. its just a £100 4tb hard drive.

The cost of running a full node is more than just 4tb hard drive worth.

Stop lying idiot, you've never ran a node dont you?

I've got a raspberry pi running a full node. I came on here  trying to figure out how to get merchants to do the same.
As it stands they can employ centralized services, so why would any merchant run a full node?

Then why the fuck you said you need a fucking server to run full node?

Stop being an idiot and fell for " big blocksize would reduce full nodes"

Also why the fuck merchants need to run full node if they only accept btc as a payment method?
 

[BYONDIIx]

Also why the fuck merchants need to run full node if they only accept btc as a payment method?

Surprisingly, that is a good question. They have no reason apart from to support the network unless I'm mistaken.