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Author Topic: What's the best way to strengthen Bitcoin?  (Read 767 times)
minorman
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July 01, 2012, 08:48:33 AM
 #1

In order to strengthen Bitcoin against possible attacks discussed elsewhere (
 https://bitcointalk.org/index.php?topic=90826.40
) what would be the most important thing?

Some suggestions in no particular order, to start the discussion:
-Enlarge the Bitcoin economy - say by every current user putting at least one thing/service fire sale on bitmit or similar .
-(Finally), get Apple to accept Bitcoin wallet apps, to access the enormous iphone user base.
-Developing better Bitcoin clients for increased user friendliness and security.
-More/better online exchanges.
-Improved/more Bitcoin fora (like Bitcointalk, reddit's r/bitcoin, etc.)
-Merchant solutions like bit-pay.
-Bitcoin media like blogs or Bitcoin magazine.
-Protocol improvements like multi-sig or hash algorithm changes.
-Decentralized mining like p2pool - or stronger pools.
-Asic mining.
-A new, better bitcoinica.
-Etc.

It is not about identifying all possibilities. It's about getting our priorities straight.

“Banking doesn’t involve fraud, banking IS fraud.”
- Tim Madden
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Realpra
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July 01, 2012, 09:54:48 AM
 #2

1. Solve scaling issues in decentralized manor.
2. Cheap good physical payment solution.
(Don't know if I can see the mycelium card being cheap/easy enough)

That should make an impact.

Cheap and sexy Bitcoin card/hardware wallet, buy here:
http://BlochsTech.com
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July 02, 2012, 07:03:19 PM
 #3

In order to strengthen Bitcoin against possible attacks discussed elsewhere (
 https://bitcointalk.org/index.php?topic=90826.40
) what would be the most important thing?

Some suggestions in no particular order, to start the discussion:

-Enlarge the Bitcoin economy - say by every current user putting at least one thing/service fire sale on bitmit or similar .
There is nothing wrong with this for some users; however not for every user. For many people in their 40's 50's and 60's Bitcoin makes incredible sense as part of a sensible and prudent retirement savings strategy. Bitcoin savers are a very important part of the Bitcoin economy since they provide the basic confidence in Bitcoin for others to build a Bitcoin business and seek venture capital.

-(Finally), get Apple to accept Bitcoin wallet apps, to access the enormous iphone user base.
Complete and utter waste of time. First I would not be surprised if Apple becomes irrelevant before Bitcoin becomes mainstream. Just take a look a RIM (Blackberry). There is however a real threat to Bitcoin from Apple's business model in that it creates a single central point of attack (The app store and its associated DRM). The best strategy here is to support current IOS users in jailbreaking thier devices, and focus on open uncensored platforms such as Android, GNU/Linux etc. I would say the same for other closed platforms such as the Windows 8 RT platform.

-Developing better Bitcoin clients for increased user friendliness and security.
-More/better online exchanges.
-Improved/more Bitcoin fora (like Bitcointalk, reddit's r/bitcoin, etc.)
-Merchant solutions like bit-pay.
-Bitcoin media like blogs or Bitcoin magazine.
-Protocol improvements like multi-sig or hash algorithm changes.
-Decentralized mining like p2pool - or stronger pools.
-Asic mining.
-A new, better bitcoinica.
-Etc.

All of these are excellent suggestions.

It is not about identifying all possibilities. It's about getting our priorities straight.

Yes. This is very important.

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
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