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Author Topic: Satoshi forewarned you  (Read 1361 times)
bitcoinjesus2.0
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February 20, 2015, 05:59:54 PM
 #1

Now recall that Satoshi warned you there would be centralization in Bitcoin1.0

I anticipate there will never be more than 100K nodes, probably less.  It will reach an equilibrium where it's not worth it for more nodes to join in.  The rest will be lightweight clients, which could be millions.
At equilibrium size, many nodes will be server farms.

He told you so.

The current system where every user is a network node is not the intended configuration for large scale.  That would be like every Usenet user runs their own NNTP server.  The design supports letting users just be users.  The more burden it is to run a node, the fewer nodes there will be.  Those few nodes will be big server farms.  The rest will be client nodes that only do transactions and don't generate.

If you don't believe me or don't get it, I don't have time to try to convince you, sorry.

Now that more time has passed, and the prophesy has become a reality, maybe more will believe.
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fulgdenea
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February 20, 2015, 06:22:48 PM
 #2

that is great to see fund raising about bter,
but the question if they again hacked by inside job then Wink
TiberiuC
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February 20, 2015, 09:12:35 PM
 #3

The only people who would ever think about participating in this are the ones who lost their funds in the hack, but still a bad idea.
There's nothing to save,nothing of value there. The moment you heard about the Bitbay scandal,you should have withdrawn all your funds from there.
They would of died even without the hack.
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February 21, 2015, 03:55:40 AM
 #4

If BTER needs some extra cash and wants to make a profit sharing deal, we have $30,000 so far.  The only contingency, is that we get preferred payback status in event of another hack.

https://bitsharestalk.org/index.php?topic=14320.0

this is a bad idea
i doubt bter will got that much popularity back in the day before they got hacked, but if they refunded all their customer than perhaps the trust could be earn Roll Eyes Roll Eyes


                                   
                                   
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drkman
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February 21, 2015, 02:44:58 PM
 #5

It's back up for Withdrawals but check your altcoin balances as the altcoins I had of value were emptied out of my account and are now gone so nothing left to withdrawal.

Seems much more than just the BTC was emptied out of user accounts.  That's probably what they have been doing these many days.  One by one stealing the funds.
chennan
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February 22, 2015, 03:08:29 PM
 #6

It's back up for Withdrawals but check your altcoin balances as the altcoins I had of value were emptied out of my account and are now gone so nothing left to withdrawal.

Seems much more than just the BTC was emptied out of user accounts.  That's probably what they have been doing these many days.  One by one stealing the funds.
not really! Bter website is running up again and use, cny and NXT balance is shown up but the withdrawal has being delayed. I think they are working on this. They are transparent with each move and promised to phase the withdrawal of all the altcoins. They even consider selling out their domain name to repay the customers.

Coinroll - Bitcoin Dice

[CC6vcXtaDfap8ARZc]
iGotSpots
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February 22, 2015, 03:51:54 PM
 #7

All respect lost for everyone involved, both from exchanges and the community in general

You guys have just become that which you came here to eliminate the need for. Terrible decision and poor judgement shown by everyone

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drkman
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February 22, 2015, 04:58:49 PM
 #8

All respect lost for everyone involved, both from exchanges and the community in general

You guys have just become that which you came here to eliminate the need for. Terrible decision and poor judgement shown by everyone
Humans!  Unfortunately, without enforceable boundaries some will always choose to exploit the rest and effectively destroy the entire system in the process.  It's why full decentralization may never work and why crypto currencies will require the protection that regulation and law enforcement affords in order to grow from the lawless fringe to the lawful masses.
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