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February 13, 2014, 08:38:24 AM |
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These are just a few thoughts of mine. I think to avoid these consistent bitcoin DDoS and BTC thefts we need to actually break up bitcoin into smaller pieces. The wallet and block index/verification remains completely untouched and works just about EXACTLY as it does now (of course i'm thinking that there could still be bug fixes in the future), but the mining and the pools can be smaller. The idea of btcguild and slush etc are great, but because they are so huge, they are a potential BTC security risk. They're sorta a centralized bitcoin bank which is kinda bad. So we just need to break the network up into smaller groups. The thing is, with smaller websites and pools that are community oriented and not anonymous (we have the right to show our identities to each other, lol) then they are less susceptible to attack and market fluctuations. If everyone did this the value of bitcoin mining, I believe, would exponentially grow.
A few ideas on how to implement a few changes to the bitcoin SOFTWARE and protocol. For one, I think the protocol is fine, i just wanted to add an implementation of BTC to USD/GPB/EURO conversion etc. The only problem is that then the software would need to connect to other websites. So how would we go about fixing this? Well, for one, having a smaller COMMUNITY pool (not an anonymously join-able one) can much better keep track of the value of items in USD, because a small community that actually cares about it's members and is honest (which isn't hard to find when you build your own PROPERLY) understands the importance of telling the truth about the prices and values. Why is this a good idea? Because people generally want to separate from those they do not know, and they have every right to. It's safer and actually more profitable in the long run as you can keep your transactions much more secure amongst the people you trust.
I think this could change the world-wide value of USD significantly, as smaller communities will show differing values for every items which of course would include cars as they are extremely valuable. So in one community, one car of a certain make and model is worth $15,000, but in another community the same IDENTICAL, exact make and model car could be worth $12,000. So it's just like real life, but instead of the banks controlling the value of the USD which we unfortunately still need to use, WE are in control of it. Smaller communities could for instance use the modified bitcoin software/protocol to compare the other small community values and come up with something reasonable when they wish to trade outside of their communities. As of now, we rely on banksters and other agencies to understand the value of USD. But in a more utopian world we could would rely only on our own individual selves.
So this is my idea of how to implement a software modification for bitcoin to help those who wish to create their own small communities. Now, it's each individual own right and responsibility to trade with whomever they wish, no matter what. There will be no group controlled asset or pricing. But I think we could add some code that allows any user to DISALLOW transactions from everyone not in their list if they so wish. It would also allow the option to BAN those who have a certain wallet address. But it's only for each individual user that they'd have that power, not for the entire network.
IN the end, because of the problems with the lowest-common-denominator BTC software we have currently including the possibility of being brute-force-attacked with a 51%er not to mention google/nsa/fbi's quantum computer bull$hit (which would be easier to detect with a smaller range of accepted transactions within small community, as it show up sooner that something outside of your small network of bitcoiners has taken money from you), it's just acceptable that many people, including myself, wish to separate from the rest of the BTC network as a whole. The smaller we are, the harder it is to stop us.
Anyone have any thoughts?
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