Topic: Bitcoin isn't going anywhere, here's why (Read 1846 times)

Giving government a cut?  Doesn't that defeat the purpose?  When does government involvement stop?  Once government gets involved, some politician will see this as a revenue stream for a pet project (think Solyndra).  Then the mission creep kicks in and suddenly it's not a decentralized system anymore.  For heaven's sake, just don't hand it over!  The true ideal behind this system was to eliminate government control.  A change in this one element will nullify any integrity of BTC.

Its not going any where but the price are going down no sounds good for investor

Encryption, like for example SHA-256 used in bitcoin, is implemented in several dozen lines of code,
not millions.

Ok, now I know for sure, you don't know, what you are talking about. Just another thinfoilhead ...

I don't think YOU know what your talking about. Backdoors can be placed in any software. Opensource or not. Would you know how to identify a back door in a piece of code? What about when there are millions of lines of code across thousands of files? You know a backdoor can be placed into your OS kernel, or even the firmware on your network card right? They don't even need a backdoor into TOR.

Fact is unless you write the code for everything in your PC your self all the way from the BIOS to the OS you can never know its "secure."

First though to reading your Subject, " Bitcoin isn't going anywhere, here's why" was that this is another thread bashing Bitcoin.

Read your actual post, was pleasantly surprised.

I don't think, you know, what you are talking about.
Have you ever looked up, what exactly Tor is?

You also can't put a back door in an open source encryption. You can make it weaker, that it seems on first sight, but that is still not a back door.

They already do, and it's widely used.

I remember a great quote by a top NSA Agent went something like "If we had a place were all the bad people can go or use like badguys.com it would be great! evil chuckles"

Umm think about it for a sec and then wonder why the NSA is not only hated for spying but placing back doors into encryption as well. We have not lost the war on privacy and a free internet yet. So please stop using "badguys.com".

You don't want to use an Internet Service Provider?
If you don't want to use your own ISP, than you can use e.g. a public WiFi, but just using Tor is enough, if you don't want your ISP to know, what you do on the Internet.

Is there a way not to use isp ?

can you just suppose how much time will it take for a government to accept it?

I like this comparison to pogs, nice article

You have no idea what you are talking about. Please learn more about TOR before posting such ridiculous comments which only highlight how little you actually know about it.

Unless TOR runs wires or a satellite signal to your modem from a private ISP then you are still sending traffic through your ISP (Which Government has LEGAL access to any time). Your original IP from your ISP may be invisible to online servers and networks but that is not the method the government/cyber security uses.

You login to bitcointalk.org they have your IP address.
You login to bitcointalk.org under VPN/Proxy they have a different IP address.
You use TOR...

All of the above still does not change the fact all of your communication is coming and going straight through your ISP.

The second lie is encrypted data... If you use windows, mac or ubuntu they have already all the access they need for an automated system to detect what you are doing. If you run huge illegal ops or just dont want the NSA in your ass and you use unlisted distros it still does not counter the fact that SSL has been decrypted and is now as useless as the Wireless WEP protocol and WPA alike. We just use it to deter intruders.

You can stay under the micro scope and get away without any action taken on you but to say you can do stuff secretly online while you are using ISP's that are designed to monitor what you are doing, the only solution is to not use an ISP that monitors you and here in the US there are very FEW left.

Chances are if cryptocurrency and mining are made illegal here in the US it will turn out like pirating. No matter what you do YES they can find out legally if you are but chances are if you only download a program or a movie or a new game a few times a year I can guarantee nothing will ever happen except a silly letter from your ISP saying they will shut you off.

The big mining farms that are actually using bitcoin for 100% of there income (bills, rent, food etc) will be hit no one will get away with operations this big in the US if it becomes illegal. Right now the way bitcoin is going it will have to be taxed by the government or they simply will not allow it to go on if it continues to grow and the market cap gets larger and more and more people start using it more. I don't want this to happen nor am I trying to spread fear or claiming bitcoin will fail you just have to realize the reality of our greedy stealing government. There is no way they will let this slide if there is millions to be taxed from it each year.

This is incorrect if you're using TOR.

http://www.wilderssecurity.com/showthread.php?t=228869

"or that it will be made illegal and no one will be able to use it."
"While it has been legalized in California for use, it still isn’t legal tender, and it has been outright banned in Russia."

It says it can't be made illegal well how did Russia do it?
---------------------------------------------------------------------
"For the sake of arguement, let’s say that the government has decided that they will stamp out all Cryptocurrency use altogether. Do they even have the ability to do that?"

"Cryptocoins are based on peer to peer network connections as each mining node broadcasts transactions and block discoveries to the rest of the network. These connections are anonymous, can use any communication port, and can easily run through a proxy server to hide their origins."

First off proxies may have worked back then but they are the worse method to hide your IP Address with today's protocols. Let's say you know this and use a VPN or something similar instead... did we all forget at least in the U.S. our ISP's provide our internet and everything is monitored through them? If you use a proxy or VPN you still need to communicate through your ISP first so similar methods will be useless for a Government who has access to your ISP and logs any time they would like them.
---------------------------------------------------------------------
"This means that as long as there is an open internet, it’s not really possible to stop Cryptocoin mining without using incredibly invasive (and illegal) surveillance or vastly increasing control of the internet."

We here in the U.S. will not have an open internet for long. We already have laws passed that allow your ISP to block any type of protocol, communication or websites they want to. Along with SOPA and other related bills they have been trying sneaky ways to do so and they will succeed eventually.
---------------------------------------------------------------------

The article is just nonsense this type of garbage is what gives crypto a bad name. I'm not wishing or hoping for crypto to be banned or be just a short or long "fad" but please for the sake of crypto future please come up with relevant content and not a bunch of smoke to blow up peoples asses that know nothing about the internet. Not OP's fault but just calling it how I see it.

http://thedailycrypto.com/post/why-cryptocurrency-will-never-go-away/

Cryptocurrency like Bitcoin is here to stay, the government should accept that, take their cut, and move on.