Bitcoin Forum
December 16, 2017, 12:42:32 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: [Must read] Could an Inside Sneak Attack on Bitcoin Destroy It?  (Read 1012 times)
conspirosphere.tk
Legendary
*
Offline Offline

Activity: 2226


Revolution will be decentralized


View Profile
May 23, 2013, 06:26:07 PM
 #1

From http://www.theburningplatform.com/?p=54678
By Paul Rosenberg, FreemansPerspective.com

This is important.
I’ve been warning about an outside attack on Bitcoin for some time, but the biggest threat may come from inside: from people who profess to love Bitcoin.

The people I’m talking about don’t love Bitcoin itself, and they don’t love the freedom it brings, no matter what they say. Instead they love the money they hope to make by becoming the new techno-riche: successors to Zuckerberg, Gates and the rest. (Yes, that’s an unfair thing for me to say, but I’d also be willing to bet large on it.)

The people I refer to are a neo-plutocracy — insiders who wish to institutionalise Bitcoin, making billions for themselves while turning it into just another version of PayPal.
One long-time bitcoiner has been warning for some time that this group controls the Bitcoin Foundation. He describes them as “regulatory statists.” He has analyzed their backtalks since their beginning and has been telling anyone who would listen that they wished to politically co-opt the Bitcoin market.

At last weekend’s Bitcoin conference, he was proved correct.
Robert Wenzel of economicpolicyjournal.com reported this, directly from the conference:
The most important vibe I am picking up at the event is that there are many money players who want to get Bitcoin up and running and are willing to play by government rules, that is, register all accounts they open and take down the name, DOB and social security number of Bitcoin buyers and sellers… Many of these players argue that it is impossible to battle the government, [one developer] told me that “It is a period to build the baby and not send it to war.”
No sooner than that passed my screen, I got an article entitled Winklevoss twins on Bitcoin: Time to work with the Feds. The article quotes Cameron Winklevoss (one of the Facebook twins) saying this at the conference:
I don’t think anyone wants a fight — I think everyone here wants to build Bitcoin, to work with regulators, cooperation is really the way forward.
Let’s be clear about this:
Bitcoin is a new thing. If it is forced into the old mold of politics, regulation and control, it will become just another tool of an oligarchy. And the prospective Bitcoin oligarchy are precisely those people who wish to shove Bitcoin, against its nature, into the same old statist, plutocratic mold. The result would be a few dozen insiders getting very rich and leaving the rest of us back where we started.

Regardless of the new plutocracy’s creative justifications and their fear-based scenarios, Bitcoin will be neutered and co-opted by governments and bankers if they get their way.
This is the largest single threat facing Bitcoin at the present time. Fear and greed work, and corruption follows with them.

I am not alone in this, by the way. Bitcoin expert Mike Gogulski has come to the same conclusion, writing “the Bitcoin Foundation is TOXIC and must dissolve.”
An unnamed “old radical” warned about precisely this in 2012.

The inside threat to Bitcoin is real, and was on open display over this past weekend.
If bitcoiners are serious about human liberty — as opposed to the same old crap in a new wrapper — they must turn hard against this neo-Plutocracy and their promises of an easy way out. Nothing great comes easy, and important things are more often killed by their supposed friends than by their enemies.

I will close with a comment Martin Luther once made to a young assistant who was asking God to save them from their enemies. Please take it to heart:
We can handle our enemies. God save us from our friends.

[Editor's Note: Paul Rosenberg is the "outside the Matrix" author of FreemansPerspective.com, a collection of insights on topics ranging from Internet privacy and economic freedom, to alternative currencies. Join our free e-letter list to receive other articles like this one... and immediately get a report that explains in a unique way how the US Government got into the mess it's in, the dangers that creates for us, and how to protect ourselves from it.]
1513384952
Hero Member
*
Offline Offline

Posts: 1513384952

View Profile Personal Message (Offline)

Ignore
1513384952
Reply with quote  #2

1513384952
Report to moderator
1513384952
Hero Member
*
Offline Offline

Posts: 1513384952

View Profile Personal Message (Offline)

Ignore
1513384952
Reply with quote  #2

1513384952
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513384952
Hero Member
*
Offline Offline

Posts: 1513384952

View Profile Personal Message (Offline)

Ignore
1513384952
Reply with quote  #2

1513384952
Report to moderator
benjamindees
Legendary
*
Offline Offline

Activity: 1330


View Profile
May 23, 2013, 06:54:21 PM
 #2

Yep.  People think they can hold the ring of power and not be corrupted by it.  The Federal Reserve was built, by design, to subsume all it touches.

Civil Liberty Through Complex Mathematics
wolverine.ks
Sr. Member
****
Offline Offline

Activity: 375



View Profile
May 23, 2013, 07:10:48 PM
 #3

Let's say that everything you fear actually happens. Why would the bitcoin economy not just route around all that censorship and barriers to entry etc...?

decentralized exchanges are right around the corner. 

100%  anonymizing services and layers are already here.

secure and anonymous communications are already here.

If the developers start dicking around,  bitcoin can fork or reject the changes altogether.

I just don't see it happening.  Maybe I'm wrong though
wolverine.ks
Sr. Member
****
Offline Offline

Activity: 375



View Profile
May 23, 2013, 07:15:22 PM
 #4

The continued existence of the bitcoin Foundation proves that the bitcoin community will support a 'Foundation' even if the current one dissolves.  If you think whoever follows the current Foundation will be better,  please continue to demand their dissolution. If you think whoever/whatever replaces them will not be better,  then either be quiet or start your own Foundation that would adhere to whatever principles you choose.
glitch003
Full Member
***
Offline Offline

Activity: 216


View Profile
May 23, 2013, 07:26:36 PM
 #5

Eh I wouldn't worry about it too much.  If Bitcoin gets ruined somehow (regulation, etc), a fork will come out that embodies the ideals of the original Bitcoin.
tysat
Legendary
*
Offline Offline

Activity: 966


Keep it real


View Profile
May 23, 2013, 07:29:44 PM
 #6

Cooperating with the government is probably a good thing, it's not like they're ever going to control bitcoin.  People will always be able to do what they want, because I believe the majority will support that.
glitch003
Full Member
***
Offline Offline

Activity: 216


View Profile
May 23, 2013, 07:30:06 PM
 #7

100%  anonymizing services and layers are already here.

secure and anonymous communications are already here.

Majority of Bitcoiners do not care about anything but profit. Anything that prevents them making more money will be sold, betrayed, made obsolete, dumped, even made forbidden.

So you're saying the majority of bitcoiners are Ferengi?

Rule Eighteen of the Ferengi Rules of Acquisition - "A Ferengi without profit is no Ferengi at all."
acoindr
Legendary
*
Offline Offline

Activity: 1036


View Profile
May 23, 2013, 07:43:17 PM
 #8

Eh I wouldn't worry about it too much.  If Bitcoin gets ruined somehow (regulation, etc), a fork will come out that embodies the ideals of the original Bitcoin.

Exactly. That's why I posted this back in October 2012:

Solution to the Bitcoin Foundation

TL;DR

The biggest complaint/possible danger opposition to TBF express is it could become corrupted and control a very powerful market, if and when Bitcoin becomes powerful, which we all expect could happen. But that's just it. Their power would pertain to Bitcoin. Even their name pertains to it, which is one of the complaints. How much power would they have, however, if there were other cryptocurrencies just as prominent in the market? The power would be diminished, of course. There would be just as many people with different coins than whatever people believed about Bitcoin specifically. Same cryptocurrency, but entirely different coins, and system.

Shortly thereafter I started promoting Litecoin, which is now doing quite well.
tysat
Legendary
*
Offline Offline

Activity: 966


Keep it real


View Profile
May 23, 2013, 07:51:27 PM
 #9

Cooperating with the government is probably a good thing

tysat
Moderator
Hero Member

Enough said?

Conspiracy theory much?

More like, trying to hide income from the government usually ends up badly.  It's definitely possible to do it, but I'd advise against it.  Businesses/Exchanges need to follow rules, or else they'll get hit like Mt Gox did.
tysat
Legendary
*
Offline Offline

Activity: 966


Keep it real


View Profile
May 23, 2013, 08:02:09 PM
 #10

You are nice example of human successfuly conditioned by fear to become system-man, a slave. We can never agree on essentials because, in a way, we don't live on the same planet.

You just sound crazy to me.

I follow the rules for the most part, because it makes life a lot easier that way.  In theory they exist for a reason and are there for the greater good.  Personally I'd rather learn to game the system (and work within it) than try to fight against it.

But back on topic,
I don't think the government will ever be able to control bitcoin, unless they spend a lot of money developing ASICs or take control of enough hashing power.  Even if that happens, something new will come along.
conspirosphere.tk
Legendary
*
Offline Offline

Activity: 2226


Revolution will be decentralized


View Profile
May 23, 2013, 08:02:49 PM
 #11

Cooperating with the government is probably a good thing,

Absolutely. For the government.

it's not like they're ever going to control bitcoin. 

In fact they are just interested in controlling people (whatever it takes)

People will always be able to do what they want, because I believe the majority will support that.

"None are more hopelessly enslaved than those who falsely believe they are free"
tysat
Legendary
*
Offline Offline

Activity: 966


Keep it real


View Profile
May 23, 2013, 08:18:42 PM
 #12

Sorry for disturbing you a bit, I just wanted to check if you are ready to be unplugged and, in effect, let others have deeper insight into soul of someone who is moderator here.

My thoughts on politics/government intervention/etc don't have anything to do with my moderation.  The biggest part of my moderation is putting posts in the right sub-forum  Cool, that and trying to warn people about possible scams/sketchy links.

And to have something on topic (because completely off OP topic posts are bad)...

Legal bitcoin businesses are good!  This allows for the wider adoption of bitcoin, people are less likely to use it if they think it's only for illegal activities.  There are always going to be underground things with bitcoin, that part will never go away.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!