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Author Topic: 2013-10-30 Wired:Bitcoins Radical Days Are Over. Heres How to Take It Mainstream  (Read 979 times)
Kikkerdril
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October 30, 2013, 11:16:38 AM
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For all its weird politics and bad press, Bitcoin may just be the most ingenious system ever created for settling online transactions. Done right, it could put small ecommerce sites on a level playing field with the likes of Amazon and Apple. Instead of running from Bitcoin, we should commandeer it from the radicals and make it work for the rest of us.

http://www.wired.com/wiredenterprise/2013/10/bitcoin/
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Carlton Banks
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October 30, 2013, 12:59:29 PM
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Done right, it could...

We're doing it wrong! Especially that Norwegian guy with his 3 million % profit. The fools that we are.

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we should commandeer it from the radicals and make it work for the rest of us

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We can make Bitcoin our own by building on top of it.

ORLY? Sounds like Wired should get into Mastercoin, that's the coin for them.

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One solution to the price fluctuation problem is relatively straightforward, albeit imperfect: Don’t hold bitcoins for very long.

What, like the Norwegian guy with his 3 million % profit? That's not imperfect advice at all!

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It’s time to empower a central authority to help regulate Bitcoin as it grows. There’s already some precedent for such a move: Just this past summer, a group called the Digital Asset Transfer Authority formed to establish guidelines for digital currencies, including safeguards against money laundering.

I bet that's been successful at stopping people launder money with Bitcoin.

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And leadership, despite all the rhetoric about decentralization, has already proven crucial to Bitcoin’s survival. Last spring, when a software update accidentally caused the block chain to split in two, a handful of the protocol’s core developers convinced merchants to stop processing transactions while they steered the community back to a common ledger.It’s not out of the question that superusers could endow a sort of Bitcoin central bank that intervenes when the price fluctuates too wildly.

So there's a lack of centralization, and also wrong type of centralization? Oh, and a proposed central price fixer! Like what the central bankers have, right? Don't they get into trouble for doing that, isn't it against the rules, as well as against the concept of capitalism? They get a slap on the wrist only? How odd!

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Would the die-hards go along with this? Probably not. If they don’t, though, there’s always the nuclear option. A group of business-minded cryptocurrency experts could simply take the Bitcoin source code and start over, creating a Bitcoin 2.0 that uses the elegant settlement system, improves the mining process, and adds a layer of oversight.

Bring your business-minded cryptocurrency "experts", let's see what they come up with for "Bitcoin 2.0". I wonder how the mining process could be improved by a shiny new central authority handing out permission to mine to it's "trusted partners"?

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This currency, like all currencies, needs to inspire trust to succeed. Bitcoin is going to need leaders and institutions that stake their reputations and money on guaranteeing that the system works. To make the decentralized cryptocurrency a true force in the global economy, it needs a touch of—gasp—centralization.

Let's make the over-arching model for the new currency paradigm the same as the old one!


Labelling Bitcoin as-is as "weird politics" is a dead giveaway. Why don't you take your CentralPlanningCoin to communist China, they love ideas like that, don't they? You did? They didn't? That is strange, even the Chinese are into this weird politics stuff. Could it just be a new concept that some technology "journalists" don't grasp properly yet? Well, good luck with stopping the runaway train, Wired.com.

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October 30, 2013, 01:06:54 PM
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Thank Carlton.

But the efford was pointless. Wired has already proofen that they are clueless about Bitcoin and should never write about it again: http://www.wired.com/gadgetlab/2012/12/wired-tired-expired/?pid=4182&viewall=true (3 Month before the big Rise. LOL)

(Yes, Wired. We will not forget this!)

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October 30, 2013, 01:16:17 PM
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After declaring Bitcoin 'dead' or 'expired', I haven't read or listened to a single thing Wired has had to say about the subject. They're clearly a long way from home, as their aging magazine hasn't kept up with the developments in technology. Sure, they know when to put an iPhone on the cover, but other than that - they're just a bunch of mouse-twiddling social network 'tards trying to stay relevant.

They lost any 'edge' they had long ago - around 2001 or so.


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October 30, 2013, 01:26:46 PM
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More specifically, they are just another captured voice in the Condé Nast Publications collection. The Negroponte years are long gone.

Establishment, old guard, status quo personified. From Wiki:

"Condé Nast, a division of Advance Publications, is a mass media company headquartered in the Condè Nast Building in New York City. The company attracts more than 164 million consumers across its 20 print and digital media brands: Allure, Architectural Digest, Ars Technica, Bon Appétit, Brides, Condé Nast Traveler, Details, Epicurious, Glamour, Golf Digest, Golf World, GQ, Lucky, The New Yorker, Self, Teen Vogue, Vanity Fair, Vogue, W and Wired."
Carlton Banks
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October 30, 2013, 01:43:25 PM
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(Yes, Wired. We will not forget this!)

After declaring Bitcoin 'dead' or 'expired',

Forget Wired, not their overly politicised editorials. Wired expired.

Vires in numeris
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October 30, 2013, 01:49:21 PM
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wired: bitcointalk.org
tired: Wired
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October 30, 2013, 03:12:28 PM
 #8

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A group of business-minded cryptocurrency experts could simply take the Bitcoin source code and start over, creating a Bitcoin 2.0 that uses the elegant settlement system, improves the mining process, and adds a layer of oversight.

I would just love it if all the proponents of "Moar Bitcoin regulations and oversight, please, massa, please!" approach go ahead and do exactly THIS. Let them have their "elegant settlement system" with "oversight layer", castrated mining and all the bells and NSA whistles our Fed masters ever wanted. And THEN, let free markets decide what such "Bitcoin 2.0" is really worth in our cold hard honest coins...

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October 30, 2013, 10:49:55 PM
 #9

sure... the Fed can commandeer bitcoin's network by taking using colored coin or mastercoin and layering  a new USD on top of the bitcoin network.

that means miners could make money from all USD transactions Wink

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October 31, 2013, 12:29:09 PM
 #10

Quote from: wired
We need to tame Bitcoin’s wild price gyrations. it’s time to empower a central authority to regulate the currency.
(emphasis mine)

It's difficult for me to say something about this while staying polite. The level of misunderstand just makes me sad. And laugh at the same time.  Cry Cheesy

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October 31, 2013, 12:44:16 PM
 #11

Quote from: wired
We need to tame Bitcoin’s wild price gyrations. it’s time to empower a central authority to regulate the currency.
(emphasis mine)

It's difficult for me to say something about this while staying polite. The level of misunderstand just makes me sad. And laugh at the same time.  Cry Cheesy

I agree. I wonder who the "we" are in the "we need to tame" quotation.

Anyway, I'm starting to look forward to Wired opinions about BTC, in the spirit of "It's just as useful to have a compass that always points South as to have one that always points North - as long as you know what you've got." Wired is building an amazing track record re all things BTC - reliably wrong, and one hopes therefore predictably wrong.

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October 31, 2013, 01:18:52 PM
 #12

Failometer is over 9000

And arroganceometer is also over 9000

Definitely fail article.
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