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Author Topic: Bitcoin is NOT a decentralize currency  (Read 5520 times)
Fuzzy
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June 24, 2012, 07:14:52 PM
 #21

stupid, or just fudding?

Well, his observation is neither smart, nor rational, so I'm gonna say C: All of the above
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Realpra
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June 24, 2012, 07:31:04 PM
 #22

Between creating money out of thin air to create inflation and spend big holding of currency that create inflation, the result is the same. You're steeling peoples savings in their wallet.
You are incorrect there:

The first can be done an INFINITE number of times.

The second could theoretically be a problem, but it would only work ONCE, after which they would be out of coins.


Anyway it is known that neither Satoshi nor the other super early adopters have THAT many BTC. A couple of millions in $ which I wouldn't mind having myself, but then that's about it.

Even dumping it all they would only be able to suppress the BTC price a few years at best. Just mtgox alone trade their worth in volume over the span of a few months.

Lastly they have nothing to gain from doing so and what they DO have to gain they have earned by giving the world BTC.

Cheap and sexy Bitcoin card/hardware wallet, buy here:
http://BlochsTech.com
justusranvier
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June 24, 2012, 08:32:58 PM
 #23

A suggestion to all the people who are opposed to one or more fundamental design features of Bitcoin:


Don't use it.


Thank you for your time.
kangasbros
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June 24, 2012, 08:43:51 PM
 #24

A suggestion to all the people who are opposed to one or more fundamental design features of Bitcoin:


Don't use it.


Thank you for your time.

Or better, design your own better currency and conquer the world Cheesy

zyk
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June 24, 2012, 09:00:22 PM
 #25

 it just must serve to put zhe current criminals out of power.....
no problem here thats transfered for a time to Satoshi and friends cause inventing a univerally accepted uninflatable medium of exchange ( if the 21 million limit really is written in stone) saving the planet from utter dept slavery has to be rewarded.

Cheers Zyk
the joint
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June 24, 2012, 09:03:41 PM
 #26

stupid, or just fudding?

Well, his observation is neither smart, nor rational, so I'm gonna say C: All of the above

C:/user/desktop/stupid/fudding/alloftheabove/findthebadmen...execute!!!

wachtwoord
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June 24, 2012, 09:04:54 PM
 #27

Have first hand evidence from living in a communist country. Better not try!

I have always liked this explanation of the economy with a group of friends that go drinking and decide to split the bill. Even the most idiotic of people must understand this right?

http://doc.cat-v.org/economics/bar_stool_economics

Raoul Duke
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June 24, 2012, 09:08:04 PM
 #28

stupid, or just fudding?

Well, his observation is neither smart, nor rational, so I'm gonna say C: All of the above

C:/user/desktop/stupid/fudding/alloftheabove/findthebadmen...execute!!!

Windows paths use backward slashes lol FAIL \\\

phelix
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June 24, 2012, 09:18:28 PM
 #29

one of the richest old dragons probably is knightmb with ~300k bitcoins.

currently it is still well possible for many people to buy 1/1000th of the bitcoins he has: 300btc ~~$2500

how does that compare to the fiat world?

gates and slim: 60+ billion dollars --> 1/1000th of that?  $60,000,000  --> good luck


--> bitcoin wealth distribution still is 24,000 times balanced better than fiat money. but it might not be for long.



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the joint
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June 24, 2012, 09:28:45 PM
 #30

stupid, or just fudding?

Well, his observation is neither smart, nor rational, so I'm gonna say C: All of the above

C:/user/desktop/stupid/fudding/alloftheabove/findthebadmen...execute!!!

Windows paths use backward slashes lol FAIL \\\

Wow, look at you!   Ya got me.  You're really on top of your game today!

 Roll Eyes

DeathAndTaxes
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June 24, 2012, 09:38:35 PM
 #31

Um how about you start here...

Bitcoin meets the goal outlined in the first paper:
http://bitcoin.org/bitcoin.pdf

Quote
A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution.  Digital signatures provide part of the solution, but the main
benefits are lost if a trusted third party is still required to prevent double-spending.
We propose a solution to the double-spending problem using a peer-to-peer network.

http://bitcoin.org/bitcoin.pdf

Bitcoin never claimed to achieve a "fair" (by whatever nebulous moral, religious, or personal values you define it) distribution of coins.

Bitcoin is a network which requires no trusted third party (noobs often forget you still need to trust the counter-party).

I can acquire coins (either directly via coinbase or indirectly by trading with someone who has some). 
I can send those coins to another party.

None of that required trust or reliance on a third party.  Bitcoin achieves the goals outlined by Satoshi.

molecular
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June 24, 2012, 09:47:47 PM
 #32

I guess Satoshi and his friends who stared the bitcoin

I also stare the bitcoin. I just can't help it, sometimes I stare at my wallet admiring the bitcoin.
Good to know I have something in common with Satoshi. We both stare the bitcoin. Satoshi did, I still do.
Who else here stares the bitcoin? Please tell me I'm not alone, now that Satoshi doesn't stare the bitcoin anymore...

The problem with this staring competition is unfair early staring advantage. Satoshi and friends have been staring bitcoin for so long that we don't have a chance to stare at bitcoin even remotely as long as they can.

I'm making my own currency: StareCoin. Difference to bitcoin: I will pre-stare 50% of the coins for promotional purposes, plus: it will be more fair, because even people with glasses can stare. Rawdog is disallowed to participate, he'd have too much of an advantage.

btw: whoever laughs loses all his StareCoins.

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bb113
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June 24, 2012, 09:48:28 PM
 #33

stupid, or just fudding?

Well, his observation is neither smart, nor rational, so I'm gonna say C: All of the above

C:/user/desktop/stupid/fudding/alloftheabove/findthebadmen...execute!!!

Windows paths use backward slashes lol FAIL \\\

Wow, look at you!   Ya got me.  You're really on top of your game today!

 Roll Eyes

Maybe he was using R
molecular
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June 24, 2012, 09:50:26 PM
 #34

There are many cryptocurrency alternatives already, with different distribution (inflation/deflation) parameters. What kind of distribution model do you want to choose? You are free to use any of the available currencies, or you can start your own cryptocurrency. But why would people choose your currency over others?

I've been talking to a person that started on knight22s train of thought. I actually got them to the point where they suggested that the currency would have to be re-distributed fairly among all participants on a monthly basis in order to undo any unfair distribution that might have occurred. Only then it dawned on him...

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niko
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There is more to Bitcoin than bitcoins.


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June 25, 2012, 12:15:50 AM
 #35

How a currency that approx 50% is held by a few people can be stated as a decentralize money? These people together can influence the value of bitcoin with their spending. In a way, they are in control of it's value and saying that it is fully decentralize is only a lie. The more the bitcoin will be valuable, the more they will be able to be in control. Unproportional holding of a currency is never good for the majority.

I'll bite the bait, and assume you are serious, then I'll put you on "ignore" - first of all, you are making unsupported claims to prove a predecided, firey conclusion. Second, you are free to buy or mine coins as you please, just like anyone else. A totally decentralized, level field for everyone. Thank developers for the opportunity that is offered to you for free, even if you are too blind to recognize it.

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
notme
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June 25, 2012, 12:23:58 AM
 #36

We're at 9,304,250/21,000,000.

50% of the bitcoins haven't even been mined yet.  There have been several very large coin dumps.  Each time this happens many buyers take control of coins from one seller.

Control of the supply of new currency is unarguably decentralized.  Your buddy Ben and his board of fat cats controls the creation of new USD.  You have nothing to fear but fear itself.  Join us and enjoy the benefits, or walk away and hope you don't regret it.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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Bitcoin Oz
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Wat


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June 25, 2012, 12:25:01 AM
 #37

I guess Satoshi and his friends who stared the bitcoin

I also stare the bitcoin. I just can't help it, sometimes I stare at my wallet admiring the bitcoin.
Good to know I have something in common with Satoshi. We both stare the bitcoin. Satoshi did, I still do.
Who else here stares the bitcoin? Please tell me I'm not alone, now that Satoshi doesn't stare the bitcoin anymore...
I stare so much people fear i'll go blind before the block reward halves

If you stare at a schrodingers cat its not really dead.

seriouscoin
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June 25, 2012, 12:51:06 AM
 #38

Instead of being hostile fcks, you can all educate him. He clearly doesnt understand distribution and decentralization.

What can i expect from bitcoin community?
 Roll Eyes
arklan
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June 25, 2012, 12:55:15 AM
 #39

Instead of being hostile fcks, you can all educate him. He clearly doesnt understand distribution and decentralization.

What can i expect from bitcoin community?
 Roll Eyes

i'd extend that to society at large, honestly... though particularly so the internet. maybe that's just me and my experiences... though honestly, i kinda like it that way. educating people is great, it really is. but, to qoute Ron white, i think it was - "you can't fix stupid." ...course that was probably a horrible person to qoute just then...but the sentiment fit.

...ya know, sometimes i'm a real asshole... oh well. Cheesy

notme
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June 25, 2012, 12:57:28 AM
 #40

Instead of being hostile fcks, you can all educate him. He clearly doesnt understand distribution and decentralization.

What can i expect from bitcoin community?
 Roll Eyes

I don't think I was hostile, and half the posts are trolls talking about pathname conventions.  There is always a few hostile fcks.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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