another reason why bitcoin will rule the world

[wuzamarine]

and alternate currencies as a whole.

There was a whole bunch of ruckus about Mt Gox and the double spending attacks.
Double spending is a huge issue. It is a problem that has plagued the internet since the old Compuserve days and the original bounty was place to come up with a decentralized digital banking system.
We all know that Satoshi solved this issues by making every user the security, the man is brilliant.
But,
The USD is the LARGEST double spending attack victim by policy and law.
When you put a $ into the bank, at best they keep 10% on property. The rest they gamble on Bitcoin or other commodities or loan the money out to crackheads too by a house with no way to pay the money back, though the loan was guaranteed from Fanny Mae (the old system that tanked the housing market). Then THOSE recipients put their money into a bank account that is only retaining 10% at best, etc...

Welcome to "Fractional Reserve Spending".
http://en.wikipedia.org/wiki/Fractional_reserve_banking

Whoa, wait a second, this is double spending.
This is triple spending!
This is exponential spending!!!

Mt Gox used a custom wallet which borked the technology, but the technology hereditarily blocks double spending by default.
Just another reason/way/method math and code does it better than humans.

You can't beat Bitcoin.

[Meuh6879]

Double spending is a huge issue.

no, it's not.
that why tx fee have raised (and cache increase in bitcoin-QT).

[lynn_402]

Fine observation.

Double spending is a huge issue.

no, it's not.
that why tx fee have raised (and cache increase in bitcoin-QT).

His post was not only about Bitcoin, but "alternate currencies as a whole". Double spending is indeed a big issue for altcoins.

[BittBurger]

When you put a $ into the bank, at best they keep 10% on property. The rest they gamble on Bitcoin or other commodities

Yeah or they do what they did to me last month.  Hold 50% of your fucking check deposit for 5 business days, under the bullshit guise that they're "making sure the check clears", when in fact they're taking my money and investing it for a profit, without my fucking permission, while simultaneously inconveniencing me by not letting me have access to my own fucking money.

It was a check from the United States Treasury.  Pretty sure they knew it would clear.  They used to (understandably) do this with checks over $10,000.  Or with brand new accounts.  This was a $400 check on an account that is 8 years old.

As with most things, over time, they take liberties they shouldn't take, and the sheeple masses don't realize they're modifying things. Ever notice how Christmas trees used to be really wide?  I haven't shopped for a Christmas tree in 10 years.  When I finally did, I saw how they'd shrunk 50% in width, yet cost just as much, or more.  If you rape the public as slowly as possible, they're like frogs in a slowly boiling pot.  They dont even notice. Knock off an inch or two in circumference every year, and in 10 years the trees look like a narrow pillar instead of a tree, and people happily buy it.  Do it too quickly and people bitch and complain.

-B-

[wuzamarine]

Fine observation.

Double spending is a huge issue.

no, it's not.
that why tx fee have raised (and cache increase in bitcoin-QT).

His post was not only about Bitcoin, but "alternate currencies as a whole". Double spending is indeed a big issue for altcoins.

Double spending period is an issue.

[wuzamarine]

When you put a $ into the bank, at best they keep 10% on property. The rest they gamble on Bitcoin or other commodities

Yeah or they do what they did to me last month.  Hold 50% of your fucking check deposit for 5 business days, under the bullshit guise that they're "making sure the check clears", when in fact they're taking my money and investing it for a profit, without my fucking permission, while simultaneously inconveniencing me by not letting me have access to my own fucking money.

It was a check from the United States Treasury.  Pretty sure they knew it would clear.  They used to (understandably) do this with checks over $10,000.  Or with brand new accounts.  This was a $400 check on an account that is 8 years old.

As with most things, over time, they take liberties they shouldn't take, and the sheeple masses don't realize they're modifying things. Ever notice how Christmas trees used to be really wide?  I haven't shopped for a Christmas tree in 10 years.  When I finally did, I saw how they'd shrunk 50% in width, yet cost just as much, or more.  If you rape the public as slowly as possible, they're like frogs in a slowly boiling pot.  They dont even notice. Knock off an inch or two in circumference every year, and in 10 years the trees look like a narrow pillar instead of a tree, and people happily buy it.  Do it too quickly and people bitch and complain.

-B-

Here is a very over dramatize video that clearly describes what you are referring to.
Sometimes the bias stuff has legit info  http://themindunleashed.org/2014/01/biggest-scam-history-mankind-debt-ceiling-truth.html