Topic: Bitcoin really is in trouble. - page 2. (Read 9040 times)

Quote of the day, awesome

Bitcoin is a sham. Unlike the dollar.

No, that's flat out wrong. Not only is the group that works on the standard client very large, and very broad, and very active (not to mention under lots of scrutiny) the miners also have a strong say in what bitcoin looks like. Even if the group that makes the popular client were tyrannical in some sense, the miners (the REAL backbone of Bitcoin) can decide themselves if they support new features, new clients, etc... If the miners and developers somehow 'collude' on features, then what you get is a BETTER BITCOIN. Because what your saying is that the people who actively build bitcoin agree with the people who actively run bitcoin, which is exactly what all this is anyway. It's a consensus system. Which means it runs perfectly fine.


Nope. There are tens of thousands, if not now, soon, hundreds of thousands of miners out there. The only thing that coordinates them now is the pools that they mine one. Miners have no interest in a fork, it's bad for bitcoin, bad for business. A Forked bitcoin with the 'loser asic miners' has no value. You might as well jump on my bandwagon to Monetize and Mine Bitcoin Testnet. Because there already IS a 'bitcoin2' and it's right inside the standard bitcoin client. If you're pissed the difficulty has surpassed your device and still want to mine bitcoin, just hop on the test net. Forks run by the already out-hashes ASICS would be instantly orphaned.


It's not a flaw, and it's not currently exploitable. You are probably not watching the development email list, but not only are they talking about ways to get around this, but the issue is academic at best. The mining ecosystem is rather well understood to the miners There aren't a bunch of "dark horses" out there. The same people with the hash power to pull something like this off are also the same people working to find solutions to it. There's no money to be made in destroying your own money.

Your really under the wrong impression on how it all works.

lets say the govt tells the devs to make a client that blacklists coins, they publish it and say "this is the official client you must use it".

1. Nobody is required to use it, and anyone with half a brain wont.
2. Everyone will be yelling about how crazy it is and to not use it.
3. Someone will be forking the official client(probably the devs themselves over TOR) to include the latest updates without that bit of code in it.


That example applies to the other two examples you mention. And let me just cut you off before you try to make your next point. "But the devs DID reverse many transactions!" No they didnt. If memory serves... there was an issue where the blockchain forked from an update, unintentionally.  you either let it run its course and fix itself (screwing people in the process) or ... get the pool operators together to go back to the previous version of the client to fix it faster. The fallout was minimal and it was the right choice to make. The problem that caused it was in the original database the clients used, a bug.

If people wernt in agreement with what was done they would have left the pools rather then migrating to them.

If you want the rest of the details im sure there is a thread about it somewhere, including a chat log.

Much bigger trouble on the horizon, affects not just bitcoin:
https://bitcointalksearch.org/topic/internet-to-fracture-along-national-borders-325642

This is crackpot gibberish you basically just pulled out of your ass.

Umm, yeah.  Right.  Bitcoin isn't currency because, according to you, it "has the same problem as the dollar," since apparently the dollar isn't currency either according to your utterly idiotic made-up bullshit.

i think btc be price 300$

 

you tallk about some small panic
about project bitcoin is die

you need call doctor

all people try/make big money

also a lot people invest a lot money for this procedure


 

Mail is 3 things: 1. a mail box
                        2. an envelope
                        3. a mailman

SMTP is not mail cos you can't put the bits indide an envelope, and there's no mailman... So it doesnt fit the definition of mail despite the fact it has the same functionality.. Theres even people who call it "email"! What a bunch of fools!

Everybody knows that the definition of money is an static and immutable god-given concept. It cant evolve along the years! Whats this kind of sorcery? Let's call the spanish inquisition! I'm sending my carrier piggeon now...

What is that definition? What is objectively equal too? It is not that it is not tangible. We have units of electricity and they are not tangible. The problem is it is not definable.

Yeah.....see, your myopic focus on this unit pedantry doesn't make sense in your other threads either.

What about bitcoin lacks units? Just because the unit is defined at the protocol layer in binary...is that what's annoying you here? The inherent abstractness of digital assets? You're kinda sounding like an old-school gold bug who can't get his head around something non-physically-tangible...


Edit: Ugh...I can't believe I bumped this thread! Says to self: "Don't feed the trolls....don't feed the trolls..."

The fundamental flaw with bitcoin is that it is not a UNIT.  Currency is 3 things. 1. a store of value
                                                                                                           2. a medium of exchange
                                                                                                           3. a UNIT of account

Bitcoin is not currency because it is not a UNIT. Units are definable in objective terms and are a constant
Bitcoin is not definable and is not a constant. Bitcoin has the same problem as the dollar since 1971. It cant be defined.

For bitcoin to become currency it has to be defined and the limit has to be removed. The amount of bitcoin would then have to change in relation to demand for it to keep the definition true.   

Oh Revans. You may have just outsmarted yourself. Now that you've rid yourself of all bitcoin and have no business here except your own, what is your next chapter in life?

Too late guys, I already sold all my Bitcoins.

Glad I got out at the top *phew!*

Hey all,
Just here for the worship service/ goat slaying.

Where do I get my uniform?

And where's the kool-aid???

PS   I <3 this cult!

PPS   Lets nominate Revans to high priestess.    He's obviously the smartest here AND he has a crystal ball!!!!!!!!!!!!!   (extra credit for gaming reference)

Trolololololo

originality: 2/10
style: 3/10

is it already going back up?

Whatever floats your boat.

True, but I was picturing something far less cute, more like "chucky" clutching a dollar bill.

Gnomes, gardens have gnomes.

Somewhere out there, a garden is missing its troll.