Topic: Bitcoin Dev Sells 50% of his Bitcoin due to 51% threat. - page 2. (Read 6775 times)

that's what they are trying to do with the Bitcoin foundation.

Why people on this forum feel the need to constantly
bash the foundation is really beyond me.

They pay for Gavin and several other developers to work
full time on improving Bitcoin... and people want to take
that away.  I'm not saying BCF is perfect but you sure
get a lot of armchair quarterbacking going on here.

(b) Industry Directors: Industry Members, voting as a class, shall elect three (3) directors or such fewer number as equals the total number of Industry Members. All directors elected by Industry Members shall be known as "Industry Directors." Each Industry Member shall be entitled to nominate a single candidate in any election of Industry Directors. Industry Directors may be elected: (i) at a meeting of the Industry Members; (ii) by written ballot delivered to the Industry Members; or (iii) in some other manner authorized by law or these Bylaws. The initial Industry Directors shall be Charles Shrem, CEO of BitInstant LLC and Mark Karpeles, CEO of MtGox.com.

Section 3.1 Membership Classes: The Corporation will have three classes of membership:

(a) Founding Members;

(b) Industry Members; and

(c) Individual Members.


(a) Founding Directors: The Founding Member’s shall elect one (1) director or such fewer number as equals the total number of Founding Members. All directors elected by Founding Members shall hereafter be known as “Founding Directors”. Each Founding Director shall be deemed to have been duly elected upon receipt by the Chairman of the Board of a written ballot from the Founding Members. The initial Founding Director shall be Peter Vessenes, CEO of CoinLab, Inc.

(a) Founding Members. The Founding Members of the Corporation shall be:

i. Gavin Andresen, Bitcoin Developer residing or doing business in Amherst, MA, USA.

ii. Peter Vessenes, CEO of CoinLab and residing or doing business in Bainbridge Island, WA, USA.

iii. Charles Shrem, CEO of BitInstant residing or doing business in Brooklyn, NY, USA.

iv. Roger Ver, CEO of MemoryDealers residing or doing business in Santa Clara, CA, USA.

v. Patrick Murck, Principal at Engage Legal, PLLC residing or doing business in Washington, DC, USA.

vi. Mark Karpeles, CEO of MtGox.com and residing or doing business in Tokyo, Japan.

vii. Satoshi Nakamoto, at [email protected], author of the white paper “Bitcoin: A Peer-to-Peer Electronic Cash System” published on http://bitcoin.org and owner of the PGP Public Key with fingerprint: DE4E FCA3 E1AB 9E41 CE96 CECB 18C0 9E86 5EC9 48A1.

I think the bitcoin dev team ideally should be dynamic and ready to face challenges that might appear down road. They should have contingency code written already for any possible situation that could arise. Even if it takes a team of a hundred of coders it's better then sitting on their hands and waiting for problems to come to them(and then still ignoring them).

When bad news stop bombing bitcoin. It is just insane, every few days there is another bad news.
Im realy wondering what exactly is being developed, aside from ponzi hype

agreed
and duckduckgo, expedia etc
atms popping up all over world

I'm presonally selling none, buy some more if dips lower, when I get some fiat


how many did this tool sell? was it a sizeable amount as he doesn't seem to say

when will bitcoin price will raise? today it is dropping like anything.

here's whats bizarre. 

1) Chinese exchanges dont seem to be reflecting this price drop.

2) perhaps a new major stakeholder due to US Federal Auction.

3) Yahoo and Google both added support for BTC price.


 ?

-bm

Maybe this is the only way he saw to bring attention to the fact that the dev team has no intention to bring a technical solution to the table.

when will bitcoin price will raise? today it is dropping like anything.

By the stakeholders in the blockchain.

Everyone here likes to fantasize about Bitcoin replacing a national currency or a governments value transfer system. That's not possible as long as the advancement of Bitcoin is controlled by a select few frightened devs. Someone mentioned that devs might be so aligned with the infrastructure and business that implementing a sweeping change is impossible for them. Well, government payment systems like ACH/EFT can't be left to rot with major flaws or national financial systems crumble. Could you imagine a government spotting a basic design deficiency that allowed a possibly hostile foreign actor to destroy their financial system and then do nothing for 3+ years? I would never support Bitcoin as a national payment system because it's system of governance is flawed so badly that the collective authorities are willing to allow it to sit defenseless for years. Inaction is keeping Bitcoin at the level of a super high risk investment and nothing more.

The incentives aren't necessarily aligned with the way bitcoin works in regards to the dev team, in my opinion. The devs have no real reason to implement proactive protection because they major see changes as 'risky'. The main risk is that they get blamed for implementing a change incorrectly or making a mistake, thus taking the blame personally. So they have more motivation to stick with the status quo.

I think soon enough bitcoins glacial pace will end up leading to it being just chapter one in the history of cryptocurrencies. Not the whole book.

what do you guys think will happen when GHASH abuses their position?

Right, everyone will leave the pool.