bitcoin is not Ideal, it represents possibilities. - page 3.

MingLee

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Quote from: Doofus on April 21, 2017, 05:24:19 AM

Three years ago or two years ago, if you asked me what Bitcoin is, I’d tell you it is the future of money. It is managed by the network, not by the government. Plus, it is private, anonymous and fast. It’s just perfect!
And Bitcoin is proved very successful. But it has inherent risks like anonymity, hacking，51%attack, double spending. Stop imagining bitcoin is perfect. No coins are perfect. I’d say bitcoin means more about possibilities, possibilities of expression of value. Before, I’ve been taken it for granted that the government should control currencies. But now I’d like to take a moment to think of the question:
“What is the nature and origin of money?”

Bitcoin was never meant to be perfect, it was meant to be good enough that the normal person could use it, contribute to it, and secure some of their wealth outside of their economic system of origin so that they wouldn't be subject to the complete control of banks and at the mercy of governments who wouldn't bail them out.
Money is never perfect, most of the time we just have to do our best and make sure that we don't mess up. We may have a "perfect" system in the future, but that is never for sure. Chances are we won't see any sort of perfect system for a long time.

Naokia980

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Dont ignore the facts about world single cryptocurrency.They are money of future. We need them to make world a better place Grin

staceyoh

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Yeah I think bitcoin and altcoins
is the future of money because they
give a lot of advantages to the people.
So because of this many advantages,
a lot of people are now using this.

bitbunnny

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Perfect things don't exists and Bitcoin probably wasn't meant to be ideal. It has advantages and disadvantages like anything else but still represents big technological progress and new opportunity in the finances.Some things about Bitcoin could be improved and this could make it even better.

azguard

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Quote from: Doofus on April 21, 2017, 05:24:19 AM

Three years ago or two years ago, if you asked me what Bitcoin is, I’d tell you it is the future of money. It is managed by the network, not by the government. Plus, it is private, anonymous and fast. It’s just perfect!
And Bitcoin is proved very successful. But it has inherent risks like anonymity, hacking，51%attack, double spending. Stop imagining bitcoin is perfect. No coins are perfect. I’d say bitcoin means more about possibilities, possibilities of expression of value. Before, I’ve been taken it for granted that the government should control currencies. But now I’d like to take a moment to think of the question:
“What is the nature and origin of money?”

Nothing in this world is perfect or ideal, that goes for bitcoin to.
But he is good in many ways, off course they are thing that are not good for it but in time eventually if will be all fixed and maintained to be nearly perfect or ideal.

sotoshihero

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Quote from: DoublerHunter on April 27, 2017, 02:40:48 AM

I agree that bitcoin is not ideal but represents possibilities because when a country accept and open its door to bitcoin then it also accepts possibilities to have a great economy because bitcoin will help a country to have a faster payment system and more profitable because of being volatile of bitcoin to its price.

Agree, it really represents possibilities...too much possibilities we can imagine. We say that its a game changer in financial industry. Also the blockchain technology is really the new technology with so many application.

mimini0147

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Quote from: Doofus on April 21, 2017, 05:24:19 AM

Three years ago or two years ago, if you asked me what Bitcoin is, I’d tell you it is the future of money. It is managed by the network, not by the government. Plus, it is private, anonymous and fast. It’s just perfect!
And Bitcoin is proved very successful. But it has inherent risks like anonymity, hacking，51%attack, double spending. Stop imagining bitcoin is perfect. No coins are perfect. I’d say bitcoin means more about possibilities, possibilities of expression of value. Before, I’ve been taken it for granted that the government should control currencies. But now I’d like to take a moment to think of the question:
“What is the nature and origin of money?”

It is definitely not ideal.

For one, the confirmation times are obviously a lot larger than it was like 3 years ago. There are scalability issues and there is obviously a lot of debate going on currently regarding how that issue should be handled.

However, ideal money is completely imaginary. There will never be a currency that is perfect in every aspect, as some aspects of money are actually contradictory to each other and cannot be achieved at the same time.

DoublerHunter

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I agree that bitcoin is not ideal but represents possibilities because when a country accept and open its door to bitcoin then it also accepts possibilities to have a great economy because bitcoin will help a country to have a faster payment system and more profitable because of being volatile of bitcoin to its price.

arklan

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Quote from: Doofus on April 21, 2017, 05:24:19 AM

Three years ago or two years ago, if you asked me what Bitcoin is, I’d tell you it is the future of money. It is managed by the network, not by the government. Plus, it is private, anonymous and fast. It’s just perfect!
And Bitcoin is proved very successful. But it has inherent risks like anonymity, hacking，51%attack, double spending. Stop imagining bitcoin is perfect. No coins are perfect. I’d say bitcoin means more about possibilities, possibilities of expression of value. Before, I’ve been taken it for granted that the government should control currencies. But now I’d like to take a moment to think of the question:
“What is the nature and origin of money?”

show me more than a single double spend that actually occurred.

anonymity isn't inherently negative.

the network has never been hacked.

davis196

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Quote from: Doofus on April 21, 2017, 05:24:19 AM

Three years ago or two years ago, if you asked me what Bitcoin is, I’d tell you it is the future of money. It is managed by the network, not by the government. Plus, it is private, anonymous and fast. It’s just perfect!
And Bitcoin is proved very successful. But it has inherent risks like anonymity, hacking，51%attack, double spending. Stop imagining bitcoin is perfect. No coins are perfect. I’d say bitcoin means more about possibilities, possibilities of expression of value. Before, I’ve been taken it for granted that the government should control currencies. But now I’d like to take a moment to think of the question:
“What is the nature and origin of money?”

Nobody says that bitcoin is perfect.I don`t think that "anonymity" is a risk.It`s an advantage.
Bitcoin has some problems that stop mass adoption,but when they are resolved we can see some major changes in the finance industry.

btc_angela

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Quote from: Doofus on April 21, 2017, 05:24:19 AM

Three years ago or two years ago, if you asked me what Bitcoin is, I’d tell you it is the future of money. It is managed by the network, not by the government. Plus, it is private, anonymous and fast. It’s just perfect!
And Bitcoin is proved very successful. But it has inherent risks like anonymity, hacking，51%attack, double spending. Stop imagining bitcoin is perfect. No coins are perfect. I’d say bitcoin means more about possibilities, possibilities of expression of value. Before, I’ve been taken it for granted that the government should control currencies. But now I’d like to take a moment to think of the question:
“What is the nature and origin of money?”

Well bitcoin design has its flawed. No doubt about it. The some of your inherent risk is not a risk at all. No one has ever hack bitcoin, they can only slowed it a bit like spamming the network. Double spending, its just a small issue haven't seen anyone complain about it. Bitcoin is not perfect but I have to agree that it represents a lot of possibilities and its a great option for fiat.

Coin_trader

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Bitcoin is more about anonimity and i will stand on that, i have no other argument but only one thing: it's anonymous and if you are going to disagree then you need to unveil who is the real Satoshi Nakamoto.
it's anonymous, even the creator of this coin himself is anonymous.
yes it's not perfect since nothing is perfect in this imperfect world.

ubercool

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Quote from: Schuyler on April 26, 2017, 11:01:56 PM

Quote from: theunbeatable on April 26, 2017, 10:55:52 PM

Even in science there is no such thing as ideal, ideal gas, ideal number, ideal transformer, ideal conditions, because these things are supposed to be perfect but there's always have a flaws and I think that's okie.

These ideal things had bring us to this point. It serves as an outstanding peak that need to be reach in order for the system to be perfect. Bitcoin is not ideal of course there's always flaws and errors. But the possibilities it can bring brought us hope to change the monetary system. The possibilities are endless so they say and it will keep improving.😇

Bitcoin is far from ideal, otherwise it would have been adopted at the onset. But in this world, nothing is perfect. Bitcoin is better than fiat (which is also flawed) in some aspects but it has also its own set of deficiencies. We are going to witness continuous changes in our currency system and bitcoin will be one of the players in a world that's heading into a more digital future.

Bitcoin is not hackable nor can anyone bring the network down easily. It is not a total anonymous system thats why we have mixers and blenders using which we can make some transactions anonymous. Otherwise, it is just pseudonymous as exchange sites can give out your details and transaction details.

coynedterm

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Quote from: Doofus on April 21, 2017, 05:24:19 AM

Three years ago or two years ago, if you asked me what Bitcoin is, I’d tell you it is the future of money. It is managed by the network, not by the government. Plus, it is private, anonymous and fast. It’s just perfect!
And Bitcoin is proved very successful. But it has inherent risks like anonymity, hacking，51%attack, double spending. Stop imagining bitcoin is perfect. No coins are perfect. I’d say bitcoin means more about possibilities, possibilities of expression of value. Before, I’ve been taken it for granted that the government should control currencies. But now I’d like to take a moment to think of the question:
“What is the nature and origin of money?”

Your first paragraph is really true for Everytime in my life . But as your are asking about the bad future Currently Because of the double spend , hack of network and it is possible also that you can ask about the confirmation for the next post .
Here I would like to tell you that hacking of the bitcoin network is impossible because yet no one hacked this network .
Your second fact that double spend , these have solutions and also I faced the problem of double spend but I get solution simply .
If you will compare bitcoin with the Fiat then you will find that fuat have more bug then what the bitcoin have .
In my life I never faced any big problem in the bitcoin than what I faced in the practical money .

Schuyler

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Quote from: theunbeatable on April 26, 2017, 10:55:52 PM

Even in science there is no such thing as ideal, ideal gas, ideal number, ideal transformer, ideal conditions, because these things are supposed to be perfect but there's always have a flaws and I think that's okie.

These ideal things had bring us to this point. It serves as an outstanding peak that need to be reach in order for the system to be perfect. Bitcoin is not ideal of course there's always flaws and errors. But the possibilities it can bring brought us hope to change the monetary system. The possibilities are endless so they say and it will keep improving.😇

Bitcoin is far from ideal, otherwise it would have been adopted at the onset. But in this world, nothing is perfect. Bitcoin is better than fiat (which is also flawed) in some aspects but it has also its own set of deficiencies. We are going to witness continuous changes in our currency system and bitcoin will be one of the players in a world that's heading into a more digital future.

theunbeatable

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I could either watch it happen or be a part of it

Even in science there is no such thing as ideal, ideal gas, ideal number, ideal transformer, ideal conditions, because these things are supposed to be perfect but there's always have a flaws and I think that's okie.

These ideal things had bring us to this point. It serves as an outstanding peak that need to be reach in order for the system to be perfect. Bitcoin is not ideal of course there's always flaws and errors. But the possibilities it can bring brought us hope to change the monetary system. The possibilities are endless so they say and it will keep improving.😇

BitcoinHodler

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Quote from: Doofus on April 24, 2017, 04:56:12 AM

Recently, a group called the Large Bitcoin Collider(LBC) claims that it is using its computing power to smash open bitcoin wallets owned by other people and potentially taking the coins inside.http://news.8btc.com/bitcoin-is-not-ideal-it-is-an-expression-of-value
That explains how bitcoin's privacy is widely misunderstood.

you do know that project was a rootkit to abuse the trust of fools who run that so called collider on their computer, right?

also i should add that they never "smash open" anything apart from some private keys that were put there to be found as a puzzle project.

Doofus

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Recently, a group called the Large Bitcoin Collider(LBC) claims that it is using its computing power to smash open bitcoin wallets owned by other people and potentially taking the coins inside.http://news.8btc.com/bitcoin-is-not-ideal-it-is-an-expression-of-value
That explains how bitcoin's privacy is widely misunderstood.

canah17

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Quote from: Doofus on April 21, 2017, 05:24:19 AM

Three years ago or two years ago, if you asked me what Bitcoin is, I’d tell you it is the future of money. It is managed by the network, not by the government. Plus, it is private, anonymous and fast. It’s just perfect!
And Bitcoin is proved very successful. But it has inherent risks like anonymity, hacking，51%attack, double spending. Stop imagining bitcoin is perfect. No coins are perfect. I’d say bitcoin means more about possibilities, possibilities of expression of value. Before, I’ve been taken it for granted that the government should control currencies. But now I’d like to take a moment to think of the question:
“What is the nature and origin of money?”

Well, i like your opinion on bitcoin its really good but bitcoin is the one who helped me with my expenses in the house by earning it and also their are alot of hacks and attacks but you got to be careful on it be secure by using a secure wallet i know bitcoins isn't that perfect but almost countries in the world who use bitcoin and bitcoin is money in the internet so its perfect to me.. the nature of bitcoin is to help those people who want's to earn and buy stuff on the internet origin of the money is to make life easier and fair.

mobnepal

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Quote from: Doofus on April 21, 2017, 05:24:19 AM

But it has inherent risks like anonymity, hacking，51%attack, double spending.

Anonymity => is actually a feature not a problem, why anybody have to shout out about their financial transaction.

Hacking => Bitcoin is not vulnerable to hacking, if private key is placed in secure place.

51% attack => Bitcoin network is no more vulnerable to 51% attack because it is almost impossible for someone to spend a lot of mining power to attack bitcoin network these days.

Double spending => Double spending is possible, but after getting one confirmation merchants don't have to worry about double spending.

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