Topic: Bitcoin adoption slowing; Coinbase + Bitpay is enough to make Bitcoin a fiat - page 13. (Read 67119 times)

Very communistic PoV 

Great post and thread at zerohedge:

http://www.zerohedge.com/contributed/2014-04-08/why-bitcoin-important?page=1

Specifically "james.connelly" comments as follows:

Wed, 04/09/2014 - 00:49 | 4638251 james.connolly
The problem here is that same old shill's are still pushing the same old snake-oil.
The solution is we need a REAL 'peoples' crypto-currency, and BTC dont' cut the smell test.
How do we do it ?

1.) It must be P2P just like when we all share/steal music and movies, REAL FUCK P2P, the problem with BTC is the exchanges and minor's, they NEED to be executed with extreme predjudice.

2.) We need real encryption, like PGP-4096 that is impossible for NSA to break, and we need to control, out of the hand's of the NSA.

3.) Trust is the issue of Satoshi's paper (https://bitcoin.org/bitcoin.pdf) I suggest any student of this shit read the mother-paper, in order to have trust, nobody can control over 1% of BTC,... with BTC you have a few people controlling 90% on the mining and the exchange end, ... this right there amongst a dozen other things is WHY BTC sucks cock.

So how do we fix BTC?

We need a real group to step forward someone like Stallman free software or somebody who can't be bought, probably going to be a RUSSIAN. We need a real open-source that has no ties to the CIA/MOSSAD, that is a tough one, given that probably 90% of the commenters/posters here work for the company as contractors.

But when a real crypto-currency comes out for the PEOPLE, I will know it when I see it, and bitcoin ain't it,

Maybe it will come from CHINA, maybe India, but it has to come from somebody who hates money, who hates wealth, who truly doesn't want a fucking thing to do with power, that his/her only goal is to destroy the PTB.

Now with BTC, it came from PTB and that is the fucking problem."

Wed, 04/09/2014 - 01:24 | 4638305 james.connolly

Your right, that's why its best to live in the jungle, then all is real.

But the USD sadly is also 'crypto-crap', but issued controlled by the DEVIL, and I use that word to infer that the worst ASSHOLE's on earth control the current crypto USD.

Given the reality of FIAT-FAUX (USD & wannabe's), why not have a PEOPLES FIAT, where nobody can be a billionaires, and people can exchange internationally, as even those in live in the jungle need to trade with city folk and vice versa.

Going beyond Satoshi's premise of "TRUST", the next level of crtypo-currency will have to be addressing the issue of MONOPOLY, Satoshi in his orginal PAPER simply 'assumed' that TRUST would be present in the NERD population, but sadly not all nerds use their brain or the heart, some only use their dicks.

My argument is not only must BTC 2.0 be REAL P2P, but it also must prevent anyone from having more than 0.01%, which means that a real ID/DNA fingerprint will be probably required to implement it, nobody ever said this shit was going to  be 'private'.

USD ain't private either if you move it on computer they know, and if you touch it, they got your dna and fingerprints. When you get it from the ATM they got your mug photographed and most big-bills have RFID, so they can track it,.."

Wed, 04/09/2014 - 01:31 | 4638311 james.connolly

Satoshi's premise of BTC 1.0 was that no person or club, would ever have more than 51%, that was broken early on, and the MINERS always maintained +60% control, so essentially the BTC 1.0 as envisioned was broken from 2010 all the way til present.

Then you had Mt-Gox with +60% of ingress/egress under control, and that was just the frosting on the cake to kill bitcoin.

The ONLY way to ensure trust is to have an anti-monopoly model, where nobody can have a monopoly. A PURE P2P model can also solve this problem.

The MORAL of BTC 1.0 is that EXCHANGES MUST DIE, and MINER's MUST DIE, MT-GOX essentially self destructed on that level, now its time to see some miners 'suicide'.

Of course also BTC 2.0 should contained NO Encryption endorsed by the NSA, which means it needs to be PGP-8192 something that the NSA hates with a passion."

I stand by my earlier analogy in the MadMax thread that Anonymity is like chemotherapy. It has some undesirable side effects there is no denying it. Hopefully reputation will help mitigate those to some degree.

I have spent some time trying to think of an alternative to anonymity as I dislike some of those side effects. All line of inquiry have uniformly led me to the same conclusion. Anonymity is the only short term solution. Everything else is either ineffective or at best stalling tactics.

With metastatic cancer sometimes your only choice is to give up and let it consume you, or fight it with the tools available, however imperfect, at your disposal.

Time to learn how to use TOR anyone know of a good guide on how to set this up?

Are you going to share what that coin is?

http://armstrongeconomics.com/2014/04/09/the-coming-tetrad-the-blood-moons/


Well doesn't he know this coming "Tetrad season" which begins April 15, 2014 is because to the birth of anonymous, decentralized, cpu-only crypto-currency is born on April 15, 2014.  


Amazing the Tetrad season has only occurred 3 times this millennium, corresponding to the birth of New World, Israel (end of WW2), and Arab-Israel war.

And now on April 15, 2014 is born the antidote to central banking.

This date is coincidentally a giant middle finger to the USA tax deadline.

So what kind of scale are we looking at for transactions per second if micro-transactions are really going to become viable?  You say orders of magnitude greater than the current transactions we see via Visa, so what are we talking about here exactly?

And is such scaling and speed really viable on chain in a future coin (without the need for miners to conglomerate into a few large pools)?

Lets be more realistic and use something like
http://opensourceecology.org/wiki/Global_Village_Construction_Set

AnonyMint, what is your opinion on Darkcoin? Does it fulfill many / any of the true requirements of an anonymous coin? It seems to be getting a lot of attention at the moment. I would search the thread, but there doesn't seem to be a thread search facility on here...

http://armstrongeconomics.com/2014/04/08/gandhi-cycle-of-life/

If you are referring to an altcoin, altcoins typically go through a testing phase. For example, as far as I know the anonymity altcoin Darkcoin is undergoing testing and mining now on a beta version. Pre-mining of Bitshares occurred on a subset coin Protoshares.

My understanding is that ZeroCash intends to release some open source before launching as an altcoin.

Also releasing a coin as open source can allow the community to look for bugs.

If you are referring the work I've been doing, it has mostly been assimilating applicable technology, developing community awareness through so many posts in this forum, thus refining my own understanding of the various issues.


P.S. On the issue of ZeroCash, since it will be open source, there is nothing impeding a competing altcoin from adopting it and adding other features, such as cpu-only. So any altcoin that decides to incorporate a different technology than ZeroCash for obfuscating the block chain after ZeroCash is available and production ready code, must rationally be doing it because the developers (and thus the community that follows them) sincerely think ZeroCash is not the superior choice.

"First time I had gone any where other than local el cheapo barbecue since I had returned from Hong Kong in January."

If one works like a dog on any project, how can it not contain errors, or at least not be as perfect as it should be?

It is true that paper cash, gold/silver were always anonymous. But does BTC give up the anonymity to the collective or to those few animals that are more equal than the others?

I was at the SM Lanang mall yesterday. Ate some overpriced, delicious burritos and soft tacos at Army Navy. Didn't think we had that kind of food here in Davao. Amazed me to see basically the quality of any modern city in the world imported into formerly third world Davao, Mindanao, Philippines, which didn't even have street lighting in 1994.

First time I had gone any where other than local el cheapo barbecue since I had returned from Hong Kong in January.

The point I want to make with these photos, is notice even the ladies have stopped wearing their shorts and blue jeans and are adopting expensive clothing. This is in a third world country!

The point I am making is that do the following photos agree with the reality of the following financial calculations?

http://blog.mpettis.com/2014/03/will-emerging-markets-come-back/#comment-22683
http://www.forbes.com/sites/jessecolombo/2013/11/21/heres-why-the-philippines-economic-miracle-is-really-a-bubble-in-disguise

What you see below is central bank QE ZIRP carry trade, pumping massive amount of debt into the developing world. Philippines exports 1/6 of its population to work overseas, and probably at least 50% is manual labor (maids, drivers, cooks, etc) which will be laid off in a 50% technological and debt default unemployment scenario. You can see the official data that this primarily comes from United States, Europe, the Middle East, and East Asia in that order of significance.

So my point is that those who think the crisis can't possibly happen because look at how good our lives are now, are ignoring the effect that contagion can have.

The following is a temporary illusion. This will come back again in the future, but after 2016 the following is going to diminish for some years.




















$20 per head Vikings all you can eat luxury buffet:

Cross-posting...

I want to also remind that anonymity doesn't eliminate social networking. Let's differentiate between anonymity and reputation as they aren't mutually exclusive.

Also just because you want to be anonymous sometimes, doesn't mean you need to be anonymous in every aspect of your life.

Some serious humor from Armstrong...

http://armstrongeconomics.com/2014/04/08/inflationdeflation-reality-check-understanding-the-rules-of-the-game/

On the globalist conspiracy theories, we don't need for them to be true in order to need the anonymous coin (cpu-only mining, etc).

We need these features simply because the history of the world shows that society devolves into totalitarianism over and over again, because the masses accept all the debt and promises politicians make. This causes bankruptcy of the society. Then the crash of the economy causes the masses to demand the government do something to fix it. The only thing the government can do is steal from those who have wealth since government can never create wealth.

So we don't need globalist conspiracy theories to pitch the importance of the proposed feature sets.

I suggest we avoid furthering the conspiratorial dialogue (we've already covered it) as this will chase away serious businessmen who are needed in any serious movement towards an improved coin (or improving Bitcoin which seems unlikely).

The focus should be on creating the positive paradigm for business and human empowerment in order to create a golden Knowledge Age of vigorous prosperity.

P.S. I think the concept of ZeroCash wherein we don't have absolute knowledge about the money supply is not going to be favored by a serious business demographic. Businesses like transparency not black boxes. They do want their private business details to remain confidential, but they don't want a system that is failing and no one knows it (until it is too late to prepare or change).

Careful with predicting the dollar's early demise. It will get stronger before it is replaced with a more global SDR basket. The Euro and Sterling pound have to be brought down to parity with the dollar first. Dollar and NYSE will get very strong in 2015, and this will put downward pressure on gold. According to Armstrong's computer model, after 2015.75 the world slides into the tempest.


I don't think it is necessary to do anything to the block chain protocol to control pool size. So in theory the ideas I have in mind could be employed for Bitcoin or any coin. However, I do think pools that adopt a solution which aids anonymity (that is how I my idea controls pool size and I would propose that anonymous pools blacklist those which don't implement the protocol[1]) are going to be attacked for that reason and thus the block chain protocol will need support for Meni Rosenfeld's oblivious shares fix to prevent pool shares withholding attack (Bitcoin has refused to make this change since 2011 when Meni pointed it out). And note P2P pools (e.g. P2Pool) can't implement oblivious shares, thus my ideas can't be safely applied to P2P pools.

https://bitcointalksearch.org/topic/m.3715641
https://bitcointalksearch.org/topic/m.3719385

That is my way of saying I think P2P pools are not a good solution. If ever they become popular, they could be attacked.

Another reason I don't favor using ZeroCash on the block chain is because in theory with ZeroCash you no longer need to obfuscate your IP address thus you don't need my ideas which apply to pools thus we don't control pool size and centralization of mining continues.



In theory with ZeroCash no one can see any details (not even amount) of the transactions you send to the network, so therefor you probably don't need to worry if anyone sees your IP address sending a blob of data to the network. Since the ZeroCash paper is not yet released, I can't yet analyze how sending two transactions with the same IP address would affect linkability. I assume unlinkable, but the devil is in the details. However, I am not sure how this will work for mining coinbase awards, you may still need to obfuscate your IP address for those with ZeroCash.

With the block chain crypto I have seen (note this is not my design), the payer and payee are hidden but the amount is not. And it is still possible to link transactions if someone can see the same IP address is sending two transactions that would otherwise be unlinkable.

I have said many times that AnonyMint will not announce nor endorse any coin, thus if my ideas make it into an altcoin, some other party here on Bitcointalk.org will be taking the lead role on the interface with the community.

[1] Realize that the anonymity of the other users affects how anonymous you are, because anonymity is obtained by mixing with other users. If they all lose their anonymity, you lose yours. Or if many of them lose their anonymity, your anonymity set decreases and the adversary can use multiple statistical overlapping sets to isolate you. Anonymity needs to be system-wide enforced. ZeroCash in theory does this by making every coin mix with every coin in the universe. That is very alluring crypto. But problem is we then lose the ability to see if more coins were created via crack of the crypto or someone kept the master key. Also ZeroCash probably can't scale to micro transactions without centralization of mining. Centralization of mining means the government can take control. So even if ZeroCash finds a way to make the generation of the setup parameters trapdoor (the master key) impossible to intercept (and I think that is impossible), it still has the fundamental problem that it is too anonymous. We lose the ability to see if it was cracked. We never know if it is cracked or not. We will be flying blind against the adversary. Whereas the alternative crypto for the block chain which I am aware of, hides the payer and payee but not the amount and public can see which coins were mixed (but doesn't know which one is the payer and payee) and it doesn't require any master setup parameters trapdoor. Thus we get all the anonymity we need to prevent pools from blocking payer and payees and hiding our identity, without the bad caveats of ZeroCash. Well to be fair, it is possible the government could say any transaction is blocked if it contains any coin address on a black list (even if we can't determine which of the coins mixed with is the actual payer and payee). In that case, ZeroCash could be a solution (yet its bad caveats would remain). Thus this is another reason we don't want centralization of mining, so that government can't control every pool.

What I am saying is that making the entire block chain a fog with ZeroCash incurs the cost that we no longer know when the government has cracked it or someone possesses the master key trapdoor creating as many coins as they want covertly. For me, that is unacceptable. If our technology has been broken, I want to know, so we can work on improving it.


You are actually quite astute.

An altcoin with the right feature set doesn't need to launch with blazing saddles, and also because you wouldn't want any cpu-only coin subject to botnet or server farm attack before the hashrate was sufficiently developed.