Bitcoin press hits, notable sources - page 58.

MoonShadow

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Activity: 1708

Merit: 1010

Quote from: BkkCoins on June 29, 2011, 09:19:56 AM

Quote from: styrfoem on June 29, 2011, 09:10:30 AM

http://www.good.is/post/why-bitcoin-is-a-scam/?utm_content=image&utm_medium=hp_carousel&utm_source=slide_5

hehe, oh the intellect of some! i guess a license to write is not dependent on your understanding of the letter you pen...

He gets it wrong almost right of the bat when he says "decoders" get a 50 BTC bounty. I wish I could get 50 BTC for "decoding the block". And he seems to not realize the system isn't designed based on "trust" but rather on cryptographic reliability. No one is trusted, all facts are checked cryptographically. I didn't read much further when I figured out he didn't get it at all.

It's not even a decent hit piece. I don't think the author is being malicious, he is just poorly informed. There will come a day that he will regret his current position.

BkkCoins

hero member

Activity: 784

Merit: 1009

firstbits:1MinerQ

Quote from: styrfoem on June 29, 2011, 09:10:30 AM

http://www.good.is/post/why-bitcoin-is-a-scam/?utm_content=image&utm_medium=hp_carousel&utm_source=slide_5

hehe, oh the intellect of some! i guess a license to write is not dependent on your understanding of the letter you pen...

He gets it wrong almost right of the bat when he says "decoders" get a 50 BTC bounty. I wish I could get 50 BTC for "decoding the block". And he seems to not realize the system isn't designed based on "trust" but rather on cryptographic reliability. No one is trusted, all facts are checked cryptographically. I didn't read much further when I figured out he didn't get it at all.

styrfoem

newbie

Activity: 17

Merit: 0

http://www.good.is/post/why-bitcoin-is-a-scam/?utm_content=image&utm_medium=hp_carousel&utm_source=slide_5

hehe, oh the intellect of some! i guess a license to write is not dependent on your understanding of the letter you pen...

kiba

legendary

Activity: 980

Merit: 1020

Quote from: BkkCoins on June 29, 2011, 12:07:53 AM

BitCoin may fail. But it won't be because it's a scam.
It will be because it was attacked and couldn't stand up to it.
With more success comes more threat of attack.
And at some point the full resources of the bank system and governments will come to bear and try to stomp it out because, eventually, it is either them or Bitcoin. Eventually.
It's much easier to kill it while it's still young (as Bob Marley once sung, "I Shot The Sheriff").

As always, there's the option of "if you can't beat them, join them".

Traditional banking and bitcoin does not always have to be opposed but it is traditional banking that have to change their way, not bitcoin.

BkkCoins

hero member

Activity: 784

Merit: 1009

firstbits:1MinerQ

Quote from: Dobrodav on June 29, 2011, 06:33:22 AM

http://www.aif.ru/techno/news/88884

Short topic on troyan-miner Trojan.NSIS.Miner.a (Kasperski lab classification).

Translating on Google it seems they tracked the mining account and notified the pool. I hope they can get a handle on this and some way that pools can prevent it.

Someone mentioned that this could lead to splitting the block chain and taking control of funds but that could only happen if the pool was controlled criminals not the miners.

Is it not the pool controller that writes the block, and not the miners? I don't think the number of miners in a pool has any bearing. It's the number of (pools + solo miners) combined that would be the quantity to monitor.

Dobrodav

sr. member

Activity: 350

Merit: 250

http://www.aif.ru/techno/news/88884

Short topic on troyan-miner Trojan.NSIS.Miner.a (Kasperski lab classification).

SpaceLord

member

Activity: 70

Merit: 10

Mt. Gox flaw opens the door for free Bitcoins

For posterity.

BkkCoins

hero member

Activity: 784

Merit: 1009

firstbits:1MinerQ

BitCoin may fail. But it won't be because it's a scam.
It will be because it was attacked and couldn't stand up to it.
With more success comes more threat of attack.
And at some point the full resources of the bank system and governments will come to bear and try to stomp it out because, eventually, it is either them or Bitcoin. Eventually.
It's much easier to kill it while it's still young (as Bob Marley once sung, "I Shot The Sheriff").

MoonShadow

legendary

Activity: 1708

Merit: 1010

Quote from: cbeast on June 28, 2011, 09:44:44 PM

Quote from: proudhon on June 28, 2011, 06:00:00 PM

Quote from: peach on June 28, 2011, 04:29:51 PM

http://blogs.forbes.com/petercohan/2011/06/28/can-bitcoin-survive-is-it-legal/

Can Bitcoin Survive? Is It Legal?

tl;dr = bitcoin will probably fail.

The author uses Flooz as an example of a failed online currency. Flooz was based in New York City. Flooz was a dotcom, bitcoin is not a dotcom. The company was investigated by the FBI. Bitcoin is decentralized. The FBI has no jurisdiction over the global economy. There is absolutely no comparison.

I keep hearing about this comparison of Bitcoin to failed digital currencies, and specificly Beans and Flooz. Yet I had never even heard of either of them before Bitcoin. I can't see how either of them could still compare at all, did either make a market cap of over $100 million?

cbeast

donator

Activity: 1736

Merit: 1014

Let's talk governance, lipstick, and pigs.

Quote from: proudhon on June 28, 2011, 06:00:00 PM

Quote from: peach on June 28, 2011, 04:29:51 PM

http://blogs.forbes.com/petercohan/2011/06/28/can-bitcoin-survive-is-it-legal/

Can Bitcoin Survive? Is It Legal?

tl;dr = bitcoin will probably fail.

The author uses Flooz as an example of a failed online currency. Flooz was based in New York City. Flooz was a dotcom, bitcoin is not a dotcom. The company was investigated by the FBI. Bitcoin is decentralized. The FBI has no jurisdiction over the global economy. There is absolutely no comparison.

error

hero member

Activity: 588

Merit: 500

Quote from: peach on June 28, 2011, 04:29:51 PM

http://blogs.forbes.com/petercohan/2011/06/28/can-bitcoin-survive-is-it-legal/

Can Bitcoin Survive? Is It Legal?

To mangle a famous quote from a famous person: Never write about something you don't understand.

proudhon

legendary

Activity: 2198

Merit: 1311

Quote from: peach on June 28, 2011, 04:29:51 PM

http://blogs.forbes.com/petercohan/2011/06/28/can-bitcoin-survive-is-it-legal/

Can Bitcoin Survive? Is It Legal?

tl;dr = bitcoin will probably fail.

nosfera2

jr. member

Activity: 42

Merit: 1

Quote from: Vladimir on June 28, 2011, 05:01:41 PM

Quote from: ?? on ??

Quote from: peach on June 28, 2011, 04:29:51 PM

http://blogs.forbes.com/petercohan/2011/06/28/can-bitcoin-survive-is-it-legal/

Can Bitcoin Survive? Is It Legal?

Looks like yet another hit piece.

Shills just cannot wrap their tiny brains around decentralised concept and again calling beenz flooz cards.

They don't even realize that there is a whole world beyond the US and that even if bitcoin turned out to be illegal in the US, it would only affect a small proportion of bitcoin's userbase anyway.

BitterTea

sr. member

Activity: 294

Merit: 252

Quote from: peach on June 28, 2011, 04:29:51 PM

http://blogs.forbes.com/petercohan/2011/06/28/can-bitcoin-survive-is-it-legal/

Can Bitcoin Survive? Is It Legal?

I just wanted to dissect this a little bit.

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the online currency used to buy Alpaca wool socks and illegal drugs

Among hundreds (thousands?) of other things.

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whose value dropped from $17.50 to “pennies” after a June 19 hack into its currency exchanger, Mt.Gox

The value did not drop, just one of many exchange rates. It's also back up to $17.50 a week later.

Quote

Solving that small change problem has made credit cards very popular since they made it much easier to buy and sell with precise amounts while cutting down on the transaction costs. Nevertheless, credit cards do cost consumers — in the form of fees, interest, and penalties — and merchants — as annoying merchant fees.

Quote

Bitcoin might survive as a currency if it can find a way to make consumers and merchants better off.

Maybe more precise pricing with fewer transaction costs?

Quote

one lucky fellow paid $20,000 for Bitcoin in February 2010, only to turn around and sell his holdings in early June 2011 for about $3 million

I call bullshit.

Quote

Mann notes that Bitcoin’s ultimate ambition well might be illegal in any event. After all, he points out, there are federal statutes that make it illegal to produce a separate currency. Whether Bitcoin violates those statutes depends on how far it can go along the lines of becoming a true medium for exchange.

This guy is so full of shit.

Quote

likely to go the way of Flooz (bankrupt in August 2001)

Oh noes! Bitcoin is going to go bankrupt!

SgtSpike

legendary

Activity: 1400

Merit: 1005

We need to create an "associated press" for bitcoins. Something that is filled up with concise facts about bitcoins, that reporters and journalists can use as a reference to get their facts straight.

em3rgentOrdr

sr. member

Activity: 434

Merit: 252

youtube.com/ericfontainejazz now accepts bitcoin

Quote from: Vladimir on June 28, 2011, 05:01:41 PM

Quote from: ?? on ??

Quote from: peach on June 28, 2011, 04:29:51 PM

http://blogs.forbes.com/petercohan/2011/06/28/can-bitcoin-survive-is-it-legal/

Can Bitcoin Survive? Is It Legal?

Looks like yet another hit piece.

Shills just cannot wrap their tiny brains around decentralised concept and again calling beenz flooz cards.

"Can shills wrap their tiny brains around decentralised concepts? Are reporters competent enough to learn that bitcoin isn't beenz or flooz?"

Vladimir

hero member

Activity: 812

Merit: 1001

-

Quote from: ?? on ??

Quote from: peach on June 28, 2011, 04:29:51 PM

http://blogs.forbes.com/petercohan/2011/06/28/can-bitcoin-survive-is-it-legal/

Can Bitcoin Survive? Is It Legal?

Looks like yet another hit piece.

Shills just cannot wrap their tiny brains around decentralised concept and again calling beenz flooz cards.

peach

newbie

Activity: 56

Merit: 0

http://blogs.forbes.com/petercohan/2011/06/28/can-bitcoin-survive-is-it-legal/

Can Bitcoin Survive? Is It Legal?

LightRider

legendary

Activity: 1500

Merit: 1022

I advocate the Zeitgeist Movement & Venus Project.

Bitcoin related twitter traffic has gone nuts in the past few minutes. It seems someone is spamming a crazy amount of bitcoin information.

em3rgentOrdr

sr. member

Activity: 434

Merit: 252

youtube.com/ericfontainejazz now accepts bitcoin

"How I spent a coin with bitcoin (and liked it) - How I bought lunch with bitcoins"

http://nymag.com/daily/intel/2011/06/i_spent_a_coin_and_i_liked_it.html

Topic: Bitcoin press hits, notable sources - page 58. (Read 430946 times)