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Author Topic: The jig is up boys! Their on to us :D  (Read 987 times)
Sjalq
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June 08, 2011, 04:04:50 PM
 #1

http://www.chicagotribune.com/news/politics/sns-rt-us-financial-bitcoitre7573t3-20110608,0,6328122.story

So what do you think will happen next?

Cheesy mine mine mine mine mine mine mine Cheesy
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cadillac
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June 08, 2011, 04:22:49 PM
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"selling for roughly $10 each"   L O L !!!  Right on top of things aren't they?

spanko
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June 10, 2011, 02:42:37 PM
 #3

The so called weak spot are the connections to the old money system. Either we need those to stay up, withstanding the coming attack of the oligarchy via the DEA. Or we separate completely... and I am not sure bitcoin value will remain.

Anyone any solutions...?

here are mine:

1) shield exchanges by whatever means possible. Wikileaks legal protection route?
2) Inundate the network with loads of exchanges, possibly just copies of MtGox for example.
3) Make commodity backed accounts instead of money backed. (money is fake anyway)

please add your own, this could be make or brake...


Lets do this...
Ian Maxwell
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June 10, 2011, 04:32:43 PM
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1) shield exchanges by whatever means possible. Wikileaks legal protection route?
2) Inundate the network with loads of exchanges, possibly just copies of MtGox for example.
3) Make commodity backed accounts instead of money backed. (money is fake anyway)
I was thinking the other day about how an exchange could operate without revealing the identities of its users. Running it as a Tor hidden service would be the easy part---the hard part would be how to deposit and withdraw USD. I came up totally blank on this. All I could come up with was to generate contracts and have the individuals work out the details of delivery, and the potential for fraud is too high there. I don't really know how Ripple works, but maybe that would be a possibility?

An alternative to a hidden service is just to have exchanges operating in as many sovereign territories as possible. There has to be some government that recognizes, if not the potential of Bitcoin, at least the potential influx of foreign capital from allowing legal exchanges while their neighbors don't.

Either way, the easiest way to set up multiple exchanges is by freeing the code so it can be spammed across the internet. I don't know if any of the existing exchanges will be freeing their code anytime soon, so a "Free Exchange Project" may be in order. I haven't done any serious coding since... well, ever, but I'd be interested in at least following something like this.

I like the idea of commodity-based exchanges like BTC/XAU, but they have the same deposit and withdraw problem.

I don't really think Bitcoin will be banned anywhere in the near future, because most people still aren't taking it seriously. Senators Schumer and Manchin seem to be exceptions, and yet they still don't take it seriously enough to find out what it actually is. Our little economy is still only about 30% of the way from "joke" to "threat". But for those invested in the project, it's still worth thinking about this sort of thing in advance.

Ian Maxwell
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