(Apart from a few minor technicalities such as developing open source stuff, of course, but everyone already does that anyway, right?
)-MarkM-
Topic: Bitcoins are experimental beta software. It will be replaced. - page 3. (Read 4833 times)
September 19, 2012, 08:26:04 AM
Actually we DeVCoiners already get 90% of the generated coins sent to ourselves, so bitcoin is already obsolete for that kind of grabbing, if you want (a share of) 90% of the coins just use devcoin instead of bitcoin and you're done!
(Apart from a few minor technicalities such as developing open source stuff, of course, but everyone already does that anyway, right?)
-MarkM-
(Apart from a few minor technicalities such as developing open source stuff, of course, but everyone already does that anyway, right?
)-MarkM-
September 19, 2012, 08:23:48 AM
Why would it be replaced instead of just updated/extended/patched?
Can't it not be patched? Like it runs itself to the extent that it would never be able to be modified. If it could, couldn't someone modify the protocol to send 10% of all transactions to themselves?
I only know of 1 bitcoin client so technically the author controls what it does but still, bad things would happen if they didn't follow the protocol. If anyone could write a client to do whatever they wanted, we'd have 3rd parties writing crooked versions that steal money from the block chain at will. It just wouldn't work, right?Technically there is nothing which can't be changed in Bitcoin. Bitcoin is what a consensus of users say it is. That being said there are many thing which will likely never acheive the necessary consensus for a change.
Bitcoin will probably never:
a) be reversable
b) support a proof of stake
c) have an incompatible mining rate
d) implement some mechanism of recovering "lost" coins.
While in theory these could be changed they are simply too controversial to generate a consensus.
IMHO there are very few limitations of Bitcoin which can't be overcome with:
a) third party services.
b) extension of bitcoin protocol.
c) extension via higher level protocols which are built on top of bitcoin infrastructure.
September 19, 2012, 08:22:19 AM
Why would it be replaced instead of just updated/extended/patched?
Can't it not be patched? Like it runs itself to the extent that it would never be able to be modified. If it could, couldn't someone modify the protocol to send 10% of all transactions to themselves?
I only know of 1 bitcoin client so technically the author controls what it does but still, bad things would happen if they didn't follow the protocol. If anyone could write a client to do whatever they wanted, we'd have 3rd parties writing crooked versions that steal money from the block chain at will. It just wouldn't work, right?Its open source, of course everyone can write his own client. But if someone changes the protocol in a way like "send 10% of all transactions to themselves" 51% of all miners would have to agree to use that protocol, too.
September 19, 2012, 08:18:51 AM
There are a lot of flaws with bitcoins, and it pioneered cryptocurrency. But do we still dial up to BBSes today? Use gopher? No, it has being replaced by the world wide web. Bitcoins will be replaced, don't put your life savings in.
Newbie thinks he sees the light.
September 19, 2012, 08:13:44 AM
Why would it be replaced instead of just updated/extended/patched?
Can't it not be patched? Like it runs itself to the extent that it would never be able to be modified. If it could, couldn't someone modify the protocol to send 10% of all transactions to themselves?
I only know of 1 bitcoin client so technically the author controls what it does but still, bad things would happen if they didn't follow the protocol. If anyone could write a client to do whatever they wanted, we'd have 3rd parties writing crooked versions that steal money from the block chain at will. It just wouldn't work, right? 
September 19, 2012, 08:07:16 AM
There are a lot of flaws with bitcoins, and it pioneered cryptocurrency. But do we still dial up to BBSes today? Use gopher? No, it has being replaced by the world wide web. Bitcoins will be replaced, don't put your life savings in.
The World Wide Web as we know it today is the product of layers upon layers of protocols added over time to address various problems, so, you know, you don't always just toss out the base and start over.
September 19, 2012, 07:51:01 AM
Why would it be replaced instead of just updated/extended/patched?
So what has replaced the internet (TCP and IP protocols)? They have a ton of flaws & shortcomings. There are lots of things which could be done better if you replaced everything from the ground up with a new set of protocols. The internet looks nothing like the internet of the early 1980s but the low level protocols are still there. They have been extended and upgraded but not replaced with a brand new system.
Did I miss the memo where we just ripped up the entire internet and replaced it with something new?
So what has replaced the internet (TCP and IP protocols)? They have a ton of flaws & shortcomings. There are lots of things which could be done better if you replaced everything from the ground up with a new set of protocols. The internet looks nothing like the internet of the early 1980s but the low level protocols are still there. They have been extended and upgraded but not replaced with a brand new system.
Did I miss the memo where we just ripped up the entire internet and replaced it with something new?
September 19, 2012, 07:20:56 AM
There are a lot of flaws with bitcoins, and it pioneered cryptocurrency. But do we still dial up to BBSes today? Use gopher? No, it has being replaced by the world wide web. Bitcoins will be replaced, don't put your life savings in.
Jump to: