Topic: 2013-06-30 BITCOIN KILL SWITCH (Read 3355 times)

gosh.. this again?
How many times has this stuff been 'debunked'  or at least been pointed out that there are a lot of false assumptions and arguments?

I have a feeling people aren't happy enough to buy in at these low prices yet and need to scare more people into panic selling to push the price lower and buy a shitton themselves.

gosh.. this again?
How many times has this stuff been 'debunked'  or at least been pointed out that there are a lot of false assumptions and arguments?

I have a feeling people aren't happy enough to buy in at these low prices yet and need to scare more people into panic selling to push the price lower and buy a shitton themselves.

Here's something that I'm wondering...

It seems to me that (IF a small group of) the people who own the 7 million just permanently deleted their wallets, that would help kill it off, right?

Or what if the government bought (or is buying) hundreds of thousands and just threw them away?

That's my question.

If that is true then we as the community should implement the solution described here to get rid of those specific kill-switch-hoarders:

"
So, what, if anything, could be done about it? Unfortunately, the one solution which I can think of (other than the idiotic head-in-the-sand solution of not giving a damn, which the Bitcoin user community seems to favour) is a rather unlikely one, and would be quite distasteful – on a gut level – to most users. I am speaking, of course, of proscription. If the Bitcoin community – or a reasonable subset thereof – agreed that the kill switch ought to be neutralized by any means possible, it would be a fairly straightforward matter to declare the hoarders persona non grata and collectively agree to use modified Bitcoin clients (let’s call them Bitcoin-P) which act as if the particular coins currently held by A, C-F, H-K, and M-S were not bitcoins at all. And that such pseudo-coins will never be accepted as genuine in trade for any good or service. In effect, they would be retroactively shitcoined for all time.

This act would not require cooperation from every single Bitcoin user, or the imposition of any kind of governing authority. If even a minority of users were to move to Bitcoin-P, operating separate exchanges and the like, said users would be forever immune to the effects of a future market glut resulting from hoarders cashing out. Users of conventional Bitcoin would feel the effects in full, suffering the loss of most if not all of their purchasing power.

But I am under no illusions that Bitcoin-P will ever happen, given the libertarian bent of most Bitcoin users. They will mutter of dekulakization and the like. Fine, lose your hard-earned wealth to a pyramid scheme operator at some unspecified future date. But if you like the idea of decentralized cryptocurrencies without built-in kill switches, think hard about Bitcoin-P. Anyone who wants to can start using Bitcoin-P right now, without having to wait for others to be convinced of its merits. Just compile a list of the Satoshi gang’s bitcoins, and start pretending that they aren’t coins at all. It really is that simple.”
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