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Author Topic: Satoshi made a big mistake while creating bitcoin?  (Read 1623 times)
PakistanHockeyfan
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December 29, 2015, 09:33:17 PM
 #21

I don't believe there was any mistake at all. It is a needed currency.
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owm123
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December 29, 2015, 09:36:29 PM
 #22

Pseudo anonymous can be a good feature for bitcoin. It will let authority track the illegal use of bitcoin.

Not really. People using bitcoin for illegal activity already probably know that bitcoin is not anonymous, and know how to deal with it (e.g. use mixers, always new addresses, etc.).  The problem is with an average joe, who may not know that his nosy neighbour can see all his transactions if the neighbour will learn joe's address or addresses. Or a company who may use bitcoin for its transactions and give away its concurrency information how much they are using bitcoins, if the addresses used will be known.

Bitcoin is NOT anonymous: http://www.bitcoinisnotanonymous.com
theskillzdatklls
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December 30, 2015, 12:23:05 AM
 #23

does any altcoin have a proof of work system that forces decentralization built into it in a respect where any botnet, mining center or what not all would not be viable options but running stuff from home computers would be?

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December 30, 2015, 03:15:12 AM
 #24

It's only a mistake when people cannot do what they need to do effectively and efficiently. We cannot have anymore breaches of privacy in terms of money.
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December 30, 2015, 04:17:51 AM
 #25

People like bitcoin because it is anonymous and people can have their money hidden from government. Without identity bitcoin can be used by the people like me where other global payment processor doesn't allow their services, so bitcoin is perfect interms of privacy and function than traditional system.

BellaBitBit
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December 30, 2015, 05:29:43 AM
 #26

I usually don't think of "Satoshi" and "mistake" in a sentence together.  It is simply beautiful design and will work itself out in time.

I love Bitcoin
owm123
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December 30, 2015, 05:39:23 AM
 #27

People like bitcoin because it is anonymous and people can have their money hidden from government. Without identity bitcoin can be used by the people like me where other global payment processor doesn't allow their services, so bitcoin is perfect interms of privacy and function than traditional system.

Bitcoin is not anonymous. Please check bitcoin.org or link in my signature. For example, from bitcoin.org:

https://bitcoin.org/en/you-need-to-know

Quote
Bitcoin is not anonymous

...All Bitcoin transactions are stored publicly and permanently on the network, which means anyone can see the balance and transactions of any Bitcoin address ...

or offical bitcoin FAQ: https://bitcoin.org/en/faq#is-bitcoin-anonymous

Quote
Is Bitcoin anonymous?

... Bitcoin is not anonymous and cannot offer the same level of privacy as cash. The use of Bitcoin leaves extensive public records. ...


Bitcoin is NOT anonymous: http://www.bitcoinisnotanonymous.com
kingaltcoins
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December 30, 2015, 05:51:03 AM
 #28

Hello bitcoin experts!

I have seen this video about bitcoin:http://youtu.be/J52AM5SrOHw the creator of the video is saying that satoshi made one mistake when he created bitcoins and we only can solve the that mistake by giving the miners a little bit of identity and then ensire that bitcoins are decentralized.

Is that true? I need your opinions!

Absolutely true. The small miners are not getting any chances to get profitable sum of bitcoins because the difficulty level is too high.

You have to buy 5 Antminer S7 to get 1 btc in one day. Huh

In 2009 when Satoshi mined, he could mine 50 bitcoins in every 12 hours. 
btcdevil
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December 30, 2015, 06:01:48 AM
 #29

Hello bitcoin experts!

I have seen this video about bitcoin:http://youtu.be/J52AM5SrOHw the creator of the video is saying that satoshi made one mistake when he created bitcoins and we only can solve the that mistake by giving the miners a little bit of identity and then ensire that bitcoins are decentralized.

Is that true? I need your opinions!


Absolutely true. The small miners are not getting any chances to get profitable sum of bitcoins because the difficulty level is too high.

You have to buy 5 Antminer S7 to get 1 btc in one day. Huh

In 2009 when Satoshi mined, he could mine 50 bitcoins in every 12 hours. 

satoshi was able to mine 50 bitcoins in every 12 hours is because their were only very low user of bitcoin and miner were not that much so load was low , that is why he was able to mine it fast, but now so many miners are their so now the load is 10 times more , so it is clear that it will be some what difficult in mining and the profit will be less.

the programmers are also working on that and still they are in process once it they get result they will surely updated it.

satoshi made mistake what others are telling is that is not mistake , doing process without identification is not bad. why even fiat currency sites you give full identification even then their are scammers who are scaming and no one is able to find them. their is always negative and positive side of all process.

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December 30, 2015, 06:34:38 AM
 #30


satoshi made one mistake when he created bitcoins and we only can solve the that mistake by giving the miners a little bit of identity and then ensire that bitcoins are decentralized.


Well, Bitcoin is neither fully anonymous, nor decentralized because,

  • Every single transaction that were ever made are available in the blockchain and your personal info is being tied with your address whenever you are making a purchase online or offline(= hand to hand transactions).


  • Bigger pools = better stability for the network = Pseudo-centralization (See for yourself)



I think this pretty much sums it up to denote the current position of Bitcoin protocol.


gkv9
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December 30, 2015, 11:28:16 AM
 #31


satoshi made one mistake when he created bitcoins and we only can solve the that mistake by giving the miners a little bit of identity and then ensire that bitcoins are decentralized.


What "little bit of identity" are you talking about???
It's a fact that nothing can be hidden completely, which means that nothing can be "purely anonymous"...
Satoshi didn't just had only one thing in mind, he had this innovative concept because he wanted to let people control their own monetary holdings...

lahm-44
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December 30, 2015, 02:50:55 PM
 #32

yes i think anonymity is a really a reason to worry but if is pritty helpful too.we know not knowing the important information of the dealer is a big risk but bitcoin has also take a lot of precausions to minimise that risk but it still didnt completly finished that risk.bitcoin has made the whole network anonymus with their random hashes or so called bitcoin addresses or better call them bitcoin based keys but still i think peoples should take some precaustions for that small risk as that small risk is enough for a hacker or a crypto thief to stole our balance or other important informations
LinaMay
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December 30, 2015, 03:08:10 PM
 #33

No, no mistake about it here. Hopefully we'll be fine. As far as I am sure it'll be okay. Bitcoin is cool.
lorylore
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December 30, 2015, 05:24:55 PM
 #34

i think bitcoin is quite balance between annoymity and decentralise. however, i am worried that the bitcoin is not able to spread out evenly and will dominate by minority. in this way, it is not healthy for the whole population.

Rols
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December 30, 2015, 05:36:44 PM
 #35

satoshi made several mistakes but I dont think trying to make it anonymous is one of them. If you want chargeback then use paypal. To have an identity linked to an BTC address would reveal much more than fiat does or an creditcard. Its hard to make one payment system that will fit all situations and its good to have choices. Simply put use the one you want and need for that transaction you are going to do.
davinchi
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December 30, 2015, 06:20:34 PM
 #36

People like bitcoin because it is anonymous and people can have their money hidden from government. Without identity bitcoin can be used by the people like me where other global payment processor doesn't allow their services, so bitcoin is perfect interms of privacy and function than traditional system.

Nothing can be abslutely anonymous and the Government also can track our transactions but bitcoins have made it a bit difficult for them to get the total amount we own in bitcoins and then apply taxes on the amount. Bitcoin is one of the best currencies as it's a currency that we own and we can mine unlike other recognized currencies and hence people are drawn towards it. It's not only the anonymity factor that matters to many.

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Panzersin
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January 17, 2016, 10:52:49 AM
 #37

People like bitcoin because it is anonymous and people can have their money hidden from government. Without identity bitcoin can be used by the people like me where other global payment processor doesn't allow their services, so bitcoin is perfect interms of privacy and function than traditional system.

Bitcoin is not truely anonymous. But it allow us to send payment without using the bank, so it is good for some poor people.
miguelmorales85
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January 17, 2016, 11:00:38 AM
 #38

I personally agree with the fact anonymity s the single worst  trait Satoshi gave to BTC. It attracts scammers, ponzi operator and similar slime. These people scam good people and deter them from using BTC. If you dont do with illegal stuff, why hide? If you do illegal stuff, I dont want u in BTC.
It's not anonymous, it is pseudonymous. Those are two different things that get confused.
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