Bitcoin Goes Public?


#24

this is one for the debates for sure, paper versus digital. @cyberdexter what really is the difference from the FEDS printing money out of thin air, versus being able to mine it? I agree our monetary system (USA) is built on debt. If only that 1913 act of congress giving power to print into the hands of a wealthy group of stingy greedy families would of happened and Tesla’s innovations, and technologies would of accepted by our GOVT instead, we would be in an entirely different ship.
Albeit, i digress to the former, and just state that imho, the way off paper, goes back to that 1913 act. Abolish that, and Crypto CAN REIGN for the better of the world, not just the good o US of A


#25

Nothing other than you’re printing your own money which is perfectly fine by me. I’ve been living out of the box and off the grid for a good 20 years so printing my own money works fine for me.

I agree our monetary system (USA) is built on debt. If only that 1913 act of congress giving power to print into the hands of a wealthy group of stingy greedy families would of happened and Tesla’s innovations, and technologies would of accepted by our GOVT instead, we would be in an entirely different ship.

It’s not just the USD. All fiat is based on debt and basically exists (to the largest extend) only in digital form in the bank systems where the same money is loaned and loaned and loaned and loaned… again and again. That’s why I said above if everyone would make a run for the Banks, the majority (if not all) would have to file for bankruptcy or print insane amounts of paper money which they couldn’t back by anything at all.


#26

That’s one thing that really fascinates me. If you think about it, 21 million bitcoins is just a number floating in space, it’s got everyone imagining actual ‘coins’ in their mind. This is actually a time machine back to the gold standard. Really, there is just one big coin that keeps getting broken up into smaller pieces, which is what currency should be. Better explained: it’s just a chain of encrypted information that keeps getting bigger.

Wouldn’t it be awesome if everyone just turned a cold shoulder to anything that’s NOT Bitcoin or whatever other denomination of crypto? Not make a run for the banks but just stop worrying/caring about them. And then be like ‘Oh here you go, all this “money” for ya, have fun! I’m off to go enjoy life without EVER having to worry about you again.’ bankruptcy shmankruptcy Too bad the debt slave society is so immersive. Mortgages and school loans and what have you.

Whose idea was this perpetual debt monster anyway? In retrospect, I think maybe the gold standard went out the window as soon as everyone realized that it has indeed become it’s own, gargantuan, uncontrollable soul-swallowing monster. I hope we get a clean slate with digi.

I didn’t mean to imply that that the monetary system currently in play was going to be immediately upheaved by this tremendous breakthrough.Just that the moment banks impose traditional regulations on digital currency will be the moment Bitcoin turns into another credit card. And I definitely don’t see that happening. I’m sure they definitely want a piece of that secure rapid transfer technology though.


#27

What the REAL BREAKTHRU here is, is the blockchain tehcnology and innovation. It is not the coin, it just makes it much easier to comprehend, imho.
What needs to be concentrated on, albeit, with some minor modifcations, is to protect fraud protection, a blockchain that cannot be manipulated by 51% attacks, or man in middle security phishing, or anything that does not agree with the consensus of users. The other part that many wont accept or acknowledge is that it is nothing more than numbers in a chain, electronically, and so, when power is down, what do you do?
My thoughts on this are:
DNA integration, chips in humans, refillable with source, using wifi tech/sound waves and not necessarily internet of things, which can be just shut off, then how do you spend, or receive…
Some things that will be addressed in the next 2-5 yrs imho


#28

ummm… thats why you use a decentralised system, power outs are not an issue.

Many don’t want “wetware” and tighter integration into systems by Bio/DNA. I personally shudder at the thought, smacks of tattoing prisoners in war time camps… call me old fashioned.

I see the benefits of wet ware but the opportunities to use it for ill is a genie Id rather stayed in its bottle for the rest of my lifetime.


#29

I never said i liked it either, but i can see the writing on the wall from the “Rothschilds of the world” and you bet your bottom dollar that they wont go away silent, and give up their NWO order currency.
Btw, do you really think nakamoto actually is a person who created btc as well? try two of the other 3 letter agencies, and you may be close, just my two cents, and appreciate yours :wink:


#30

the other thought i have here in a “decentralized system” is where do you get power from, to keep the BC moving, nothing happens without power in our society anymore, just ask JP Morgan, or Tesla, or Ford, or any of the chosen few of the 20th century


#31

What do you do when the power is down and all your money is in the unlit bank?

…fraud protection, a blockchain that cannot be manipulated by 51% attacks, or man in middle security phishing, or anything that does not agree with the consensus of users…

^^That is the uncharted territory that J.P. Morgan and Wells Fargo are trying to squeeze into. They are likely to succeed, if they ever come up with a plan. Which makes me wonder… I don’t think you can have protection against these things without sacrificing the two most prominent features of this technology.

No. 1: Sure, a chip in the skin takes care of pretty much all of those security concerns–except being hacked or having your funds in digi form when/if the blockchain gets hacked again, but you can back up your wallet physically-- anyway, there goes your anonymity. Because RFID, bluetooth, ULF, wi-fi etc. has already been around forever, mainly used for identifying things and people… btw, good luck at the airport… and you’ll have loads of fun entering/leaving any store that has anti theft devices.

No.2: So even though it will be illegal to accept digi without proper identification (in the US anyway, and for your own protection, of course), everything is OK, you’re gonna be safe because your bank will have you wrapped up in their cozy blanket of regulations singing their lawlabyes all nice and warm and…hey! what happened to decentralization? These things are absolutely necessary–not so much No.1, as it seems–for these currencies to remain profitable for anyone Otherwise it will just be another, much much smaller, visa/mastercard. Though it more aptly synonymizes with the tap cards you use to pay your fare on the bus.

Do you think might be possible the best protection in this scenario is just to be personally knowledgeable and prepared for all the a-holes? I mean, hopefully something comes along to help cluster these jackoffs together put them in the light. Some folks from JP Morgan and other big-wigs had a summit about this in January 2014, and they are still spinning their tires today. But in the meantime, especially with IPv6 still ‘rolling out’ and HTTP2 just on the horizon, decent people seem to be be getting pretty good about looking out for themselves and eachother. As for the hack paranoia, I thought those issues had been resolved?

We’ve got charge-as-you-walk piezo chips nowadays for various things, no doubt a little quartz wallet could also be a implant/watch/necklace/bracelet/earring/wedding rings (haha @nemesio marriage comment).


#32

I know this may seem off subject, but take a peak here. you might find some interesting information: http://www.google.com/patents/US5577042
thank you for your insights and responses
It is appreciated greatly as i continue to hammer out my POI design


#33

This is a very dark and dusty road for me, friend.

“Rothschilds of the world”

NWO order currency.

chosen few of the 20th century

Here I thought I had found a spot where I could offload some of the stuff I’ve learned, get a little bit of dissection and cross chatter goin, and hopefully pick up a bit of wisdom and technical guidance, and BOOM the devil is here to take over the world and none of these people I’ve been researching for months are who anybody says they are, and crypto currency was made by the illuminati. I’ve given this speech to a dozen people this week, mr. cryptosmack. I’m not trying to be rude, I am pleading with you. Let’s give it a rest, or better yet, maybe there is a thread specifically for that kind of conversation. I’ll gladly join you in debate on that subject when I’m not trying to be excited about new and helpful information.


#34

you are free to believe as you wish, we all are. its cool, i wont hammer anything down your throat, except for the continued, XPY SUCKS thought- LOL


#36

…Gracias senor,
I think that topic does need a thread if it doesn’t have one, given the amount of taggage it has in common with Bitcoin and the like.

^^^THATS what I’m talkin bout


#37

Network maintenance power, again, isn’t an issue. As low power equipment becomes “de rigeur” low power wallets as mentioned above would not be a challenge.

Did the NAS/CIA/FBI write BTC? well, considering they had a hand in Tor and everyone swears blind by it, I suppose anything is possible. It’s known there were a few key players at the time (of the white paper) and the level of skill required means that the possible candidates list is small, very small. Team game? very possible again. Ultimately, the best thing is that the genie is out of the bottle. The benefits blockchain tech bring are here to stay. :slight_smile:

Is there an Illuminati? Unlikely but there is a Bilderberg group and, it seems, a growing group of people who seems to believe their wealth gives them rights beyond that which are reasonable or proper. Crypto won’t fix many of the problems in our societies, the corrupt will find ways to avoid detection for some time to come. But at least its a good start point. Real change though, has to come from the inside, and right now, the paychecks are too large and the reasons to change to small…our Banks will be fking us for a while longer…


#38

Maybe that’s why (since the Jan 2014 Wells Fargo summit) they haven’t come up with any good ideas to circumvent the anonymity of cryptocurrency.


#41

So what is it about the previous 2 posts that stink to high heaven?

That the first guy (who joined not just hours ago) starts by asking about a card then proceeds to TELL you all about it? Why fking ask then?
Or second, that the shill account that joined just mere hours ago says how cool this new card is…
And as a final one, who the fk is raxcard? never heard of it

“Bitcoin Debit Card:
Another prepaid debit card that holds the identity of the clients unknown for their security purpose. No charges are required and easy to get used for purchasing online, and withdrawal of money from ATM booths with Logo.”


#42

Spammer same IP both are suspended.


#43

Who let the dogs out?..wuff wuff…

@Daffy did!


Edit… I LOL’ed…


#44

Yeah 1000 days is not nearly enough. Should be banned for life.


#45

The options you mention though, while being very simple to implement for
us that know how it works, are still foreign, alien and scary to folks
that don’t get in to it too much, and that’s more what’ll hold merchants
back from using it imo. Education is the key there

Thank you for your piece of advice! It’s understandable, that trust must be gain first. I think that another great way to build up a reputation is communication. We learn the needs and doubts of merchant only after hearing feedback from them.


#46

Your welcome. Many of us are learning as we go. I’ve certainly never been involved with rolling out wide scale infrastructure for anything before and this industry is really still all about learning what works and what doesn’t.

As it goes, I’ve spent the last several months talking to a lot of merchants and one of the things I’ve learned is that they would be more willing to get involved if there is a solution which works straight out of the box, is simple to understand and doesn’t expose them to risk. If you can go to them and tell them it’s simpler to get involved than tying their shoelaces (or thereabouts) they’re more likely to pay attention.

Of course, what I’m doing in my local area is only a small part of a much larger plan, but it has to be done before anything else can be built on top of it :slight_smile: