Bitcoin's nemesis | Bitcointalksearch.org

traderCJ

sr. member

Activity: 280

Merit: 250

Quote from: revans on November 29, 2013, 10:43:31 PM

Quote from: notme on November 29, 2013, 10:06:18 PM

Quote from: revans on November 29, 2013, 09:53:13 PM

Quote from: chrsjrcj on November 29, 2013, 09:49:32 PM

Shows how gold has zero portability. Why should I trust a 3rd party to hold my gold?

You trust a 3rd party to write your Bitcoin client.

No I don't. I can read the code and I am capable of understanding it.

And what percentage of Bitcoin's userbase can understand source code? Even if reading it you need to have a high level of understanding to spot a well obfuscated block of code intended to do something nefarious.

Did you manufacture the locks on your car? Or your house? Did you program the OS that you use? How about the IT systems that secure your bank balance?

shadowninjax

newbie

Activity: 59

Merit: 0

Lol, I thought this one has better ideas than Bitcoin. hmm looks like its just another paypal. Won't even be bothered to check it out. Wink

Peter R

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Activity: 1162

Merit: 1007

Quote from: theonewhowaskazu on November 29, 2013, 11:51:10 PM

Quote from: revans on November 29, 2013, 10:43:31 PM

Quote from: notme on November 29, 2013, 10:06:18 PM

Quote from: revans on November 29, 2013, 09:53:13 PM

Quote from: chrsjrcj on November 29, 2013, 09:49:32 PM

Shows how gold has zero portability. Why should I trust a 3rd party to hold my gold?

You trust a 3rd party to write your Bitcoin client.

No I don't. I can read the code and I am capable of understanding it.

And what percentage of Bitcoin's userbase can understand source code? Even if reading it you need to have a high level of understanding to spot a well obfuscated block of code intended to do something nefarious.

This is relevant how?

You don't need to trust anybody, but you can trust somebody. Also by somebody I mean that you have to maintain trust in at least one single person out of every single person that bothered to read the code out of the entire population of people in the entire world, trust that at least one such person would expose a backdoor if there was one.

+1

notme

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Activity: 1904

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Quote from: proudhon on November 29, 2013, 11:43:54 PM

Quote from: revans on November 29, 2013, 09:42:11 PM

http://www.zerohedge.com/news/2013-11-29/e-gold-founder-launches-new-gold-backed-currency

This will burn Bitcoin to the ground

Well done. Somebody needed to pick up the slack since I stopped trolling around here.

You were such a better troll. This guy just spams B.S.

Some of your stuff led to valuable discussions.

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

Quote from: revans on November 29, 2013, 10:43:31 PM

Quote from: notme on November 29, 2013, 10:06:18 PM

Quote from: revans on November 29, 2013, 09:53:13 PM

Quote from: chrsjrcj on November 29, 2013, 09:49:32 PM

Shows how gold has zero portability. Why should I trust a 3rd party to hold my gold?

You trust a 3rd party to write your Bitcoin client.

No I don't. I can read the code and I am capable of understanding it.

And what percentage of Bitcoin's userbase can understand source code? Even if reading it you need to have a high level of understanding to spot a well obfuscated block of code intended to do something nefarious.

This is relevant how?

You don't need to trust anybody, but you can trust somebody. Also by somebody I mean that you have to maintain trust in at least one single person out of every single person that bothered to read the code out of the entire population of people in the entire world, trust that at least one such person would expose a backdoor if there was one.

amencon

sr. member

Activity: 410

Merit: 250

Why does bitcoin need to be backed by anything?

Why doesn't whatever is backing something need to be backed by something else, itself?

This all re-curses down to the bullshit flawed "intrinsic value" argument doesn't it?

Sometimes it's fun to watch troll threads unfold, thanks for that at least revans.

proudhon

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Quote from: revans on November 29, 2013, 09:42:11 PM

http://www.zerohedge.com/news/2013-11-29/e-gold-founder-launches-new-gold-backed-currency

This will burn Bitcoin to the ground

Well done. Somebody needed to pick up the slack since I stopped trolling around here.

GriTBitS

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Activity: 448

Merit: 250

“A decentralized registry for unique assets”

What is the going fiat rate for trolls these days? And do they pay benefits ?

bitcon

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Merit: 1008

and with the price of gold plunging why would anyone prefer this to bitcoin? nice try fud master, try harder. you have nothing positive to say here and we all know it.

seleme

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Duelbits.com

This guy looks devastated for not buying cheap btc Cry

El Dude

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Quote from: NamelessOne on November 29, 2013, 10:30:31 PM

Quote from: El Dude on November 29, 2013, 10:20:02 PM

Bitcoin's nemesis

Litecoin.

A rip off that does everything worse is a nemesis? Sure it is great to make some money on but Litecoin is no nemesis.

yes faster transcations times are worse.

we get it you have alot of btc and will protect it to the end.

Kazimir

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Activity: 1176

Merit: 1011

Quote from: revans on November 29, 2013, 09:42:11 PM

http//www.zerohedge.com/news/2013-11-29/e-gold-founder-launches-new-gold-backed-currency

This will burn Bitcoin to the ground

Right. The Nth self made centralized virtual currency, printed at whim. Does *everything* wrong that Bitcoin does right. Yet it'll burn Bitcoin to the ground, no less. Good luck with that, sir!

Quote from: revans on November 29, 2013, 10:43:31 PM

And what percentage of Bitcoin's userbase can understand source code? Even if reading it you need to have a high level of understanding to spot a well obfuscated block of code intended to do something nefarious.

Even if they can't, at least they can trust thousands of other independent individuals who can. And who have been investigating Bitcoin *very* thoroughly.

Siegfried

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Activity: 266

Merit: 250

Quote from: revans on November 29, 2013, 09:42:11 PM

http://www.zerohedge.com/news/2013-11-29/e-gold-founder-launches-new-gold-backed-currency

This will burn Bitcoin to the ground

There is plenty of room in the post-fiat/fractional reserve financial system for both decentralized cryptocurrencies and commodity-backed digital currencies. Attacking the fiat system from multiple directions will only hasten its demise, which is ultimately more important than whether or not commodity-backed currencies take some of bitcoin's market cap.

notme

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Activity: 1904

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Quote from: revans on November 29, 2013, 10:43:31 PM

Quote from: notme on November 29, 2013, 10:06:18 PM

Quote from: revans on November 29, 2013, 09:53:13 PM

Quote from: chrsjrcj on November 29, 2013, 09:49:32 PM

Shows how gold has zero portability. Why should I trust a 3rd party to hold my gold?

You trust a 3rd party to write your Bitcoin client.

No I don't. I can read the code and I am capable of understanding it.

And what percentage of Bitcoin's userbase can understand source code? Even if reading it you need to have a high level of understanding to spot a well obfuscated block of code intended to do something nefarious.

No idea. But how many people understand the code the banks use? Not very many because it is all closed shit.

revans

sr. member

Activity: 336

Merit: 250

Quote from: notme on November 29, 2013, 10:06:18 PM

Quote from: revans on November 29, 2013, 09:53:13 PM

Quote from: chrsjrcj on November 29, 2013, 09:49:32 PM

Shows how gold has zero portability. Why should I trust a 3rd party to hold my gold?

You trust a 3rd party to write your Bitcoin client.

No I don't. I can read the code and I am capable of understanding it.

And what percentage of Bitcoin's userbase can understand source code? Even if reading it you need to have a high level of understanding to spot a well obfuscated block of code intended to do something nefarious.

NamelessOne

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