Topic: Economic Totalitarianism - page 19. (Read 345758 times)

I have never taken the position that BTC will never go higher than $1000 again. I believe it is possible it has not yet formed a bottom, but that is not saying it has seen its highest top.

If I were TPTB, I would want the maximum number of people to incriminate themselves by moving their assets into Bitcoin, before going after confiscations for money laundering and other fine prints in the laws.

So yes I see another big runup of the Bitcoin price and the regulation will come later perhaps 2018 or even after 2020, and then they will start to confiscate the Bitcoins with the control over mining. And I expect clawbacks too meaning if you divested of Bitcoin, they will come seize your other assets. Or jailtime if you can't pay up. Debtors' prisons will return. Why? Because the governments are bankrupt, socialism is bankrupt, but the world is mostly socialists and they will not stop trying to take money from other people, so they will go find the money every place they can to steal it. This is the way socialism works. No one can defect. It is until death do us part.

We are headed into a clusterfuck. Many of you are delusional labeling me a Chicken Little because you don't want to admit the clusterfuck the world is in now. Enjoy.


Socialism will not die. I had predicted this in my widely syndicated 2010 essay which predicted the EU would not breakup:

r0ach I like you, but you wrote nonsense.

Amazing to me that you still don't understand why Satoshi's design will always centralize.

One crucial point you are not getting your mind wrapped around, is that the need to set a block size to control the level of transaction fees earned, is a power vacuum that forces an oligarchy to take control over the mining. ArticMine and I had explained that in great detail. I also I summarized that point again in the "Bitcoin IS basically DESTROYED" thread.

Orthogonal to the prior paragraph, you also don't seem to understand that commoditization and leveling the access to ASICs can't stop the centralization and concentration of Bitcoin mining into an eventual oligarchy of a dozen or so ASIC mining farms. Even if we assume that ASIC mining farms in China don't enjoy an unfair advantage due to ostensibly receiving State subsidized cheap (or free) electricity due to corruption, the centralization of Satoshi's profitable proof-of-work design remains inexorable and unavoidable (and regardless of geographical location of its occurrence). I had already explained why in great technical detail in the my decentralization and your "Satoshi didn't solve the BGP" threads, and here follows an incomplete summary quoted from the "Bitcoin IS basically DESTROYED" thread:

---

China being the current location of the centralization and concentration of Bitcoin mining is irrelevant to the point that profitable proof-of-work will always centralize into an oligarchy and thus offers us no long-term advantage to remove the evils and risks we normally have with fiat. The powers-that-be will be able to enforce capital controls even more effectively on Bitcoin transactions with the oligarchy control over mining, as compared to cash fiat transactions. So don't assume your Bitcoin can't be confiscated by the government. With control over the protocol with the oligarchy on mining, the powers-that-be can do what ever they wish. If the masses who are using Bitcoin don't stop using Bitcoin, then no one will be able to stop the-powers-that-be from doing what they want to Bitcoin's protocol given the oligarchy control over mining. No rational person is arguing that Bitcoin will stop functioning or that the price will collapse to 0 (although the chance of that happen does exist but quite small chance), but rather we are saying that Bitcoin as a decentralized asset which could be relied on as being impervious to control by any one, is "basically destroyed". All the clueless n00bs (or disingenuous trolls) who build strawmen arguments accusing of us saying that Bitcoin is destroyed and won't function, are just inane arguments which deflect the focus away from our factual point about the aspect of Bitcoin that is actually destroyed.

What Europe typically did in the past was cancel the fiat currency quite often, as way to force the existing cash under mattresses to come back to the banks for exchanging to the newly issued currency, wherein the State could confiscate most of it. At least we always had gold as a money that the government couldn't cancel, but now the pervasive "Big T false flag" police state spreading all over the globe means one can't even transport gold any more without it at great risk of being confiscated under the false allegation of money laundering or terrorism.

We are headed into a clusterfucked world. I sure hope you all stop deluding yourselves.

He was not careful w.r.t. running arguably afoul of laws preventing the use the word "dollar" in ways that might offend the US Treasury.

This is one of the reasons I created the following linked thread to make sure I understood well the laws that might govern the creation of an altcoin:

https://bitcointalksearch.org/topic/the-altcoin-topic-everyone-wants-to-sweep-under-the-rug-1218399

...

One way that some have used to escape Economic Totalitarianism (but, really, more to escape TAXES) has been to use offshore entities in "user friendly" countries.  Panama has been a favorite for decades.

Well, the journalists who broke the "Panama Papers" story have released their online-searchable database.  See if any of your friends are there!

More info on thread I just started:

https://bitcointalksearch.org/topic/general-panama-papers-discussion-1466739

http://www.coindesk.com/liberty-reserve-founder-20-years/

---

Economic Totalitarianism taking form in this forum perhaps... any way this is the last I will say on this matter ...


Which similar reasons?

---

...

sockpuppet1

Well, I guess you may want consider some gold after all.

Spending some BTC on gold is OK with me.  If BTC has deep flaws (I don't know!), then gold is a great purchase.

*   *   *

An interesting Zero Hedge today piece on the apparently failed LBMA "gold market", if this is true, yow...:

http://www.zerohedge.com/news/2016-05-08/death-gold-market-why-one-analyst-thinks-run-london-gold-vaults-imminent

I am speaking on behalf of TPTB_need_war aka AnonyMint, who is quoted in the OP, because he is currently banned for 9 more days due to calling theymos and gmaxwell out on their censorship of a potential technical back door in Bitcoin. There is a simpler explanation of Satoshi's obviously intentional technical error. It is obviously intentional because it was quite well known by 2009 that the HMAC formulation is more secure yet Satoshi used the more suspect double hashing everywhere in BitCON.

I will be editing this post and adding answers and rebuttals to the various incorrect posts that litter this thread. Please check back and read this post, because I will not be posting again in this thread, and instead I will edit this post to add new information as others continue to make posts that need to be refuted.

Please quote my post because the mods will probably delete it and ban me again.


Segregrated Witness is not the problem. The problem is that Blockstream is sneaking in a new soft fork versioning protocol at the same time. This new versioning protocol when combined with collusion with China's oligarchy control over mining, will insure together the elite can change the protocol of Bitcoin at-will any time. Why do you think Blockstream has received $70+ million in investor funding from the financial community. Blockstream has no viable way to make a profit. The company exists as a way to take control over Bitcoin. Note that Classic and XT didn't really solve the centralization problem either, but at least they didn't hand soft fork versioning control to the devil.

They will send their propaganda machine here to discredit me. They always do that. Then they ban me. They don't want you to know the truth. I don't care anymore. You fools are doomed. This is my last post on this matter. I have other programming work to do. It is up to you fools to get organized and stop being useless eaters and cattle for the elite. I can lead you to water, but I can't teach your dumb asses to drink. I tried to teach, but I get drowned out by the trolls and propaganda who are hired to keep the truth from you.


First they came for the Socialists, and I did not speak out—
Because I was not a Socialist.

Then they came for the Trade Unionists, and I did not speak out—
Because I was not a Trade Unionist.

Then they came for the Jews, and I did not speak out—
Because I was not a Jew.

Then they came for me—and there was no one left to speak for me.


Here is a link to the cryptocoinnews.com article and also an estimate follows in the linked thread. Realize that is just one former cattle farmer who currently mines 50 of the 1200 BTC per day and he plans to increase that to 200 BTC of the 600 mined per day after the halving. Just one cattle farmer will be mining 30% of Bitcoin.


With an oligarchy in control of the mining, they can choose to increase transaction fees to the maximum the market can bear, not the competitive rate for transaction fees. They could also work together with Blockstream to increase the 21 million coin limit, so they can earn more coins. None of this would hurt Bitcoin, because obviously none of you care. You will suck BitCon's cock because you think it is a "better gold" as Satoshi advertised it to you in the white paper.

Additionally these mega mining farms in China don't attain their loans and nearly free electricity without returning favors to the elite who are in charge. In effect, this means Bitcoin has become just another fiat system. They can KYC identification requirements on it the future and pretty much do what ever they want. And you will lick their balls because you have no other choice. Don't tell me you will switch coins, because no other coin will have the adoption and mining security.

I find it really hilarious how you think you are supporting something that will change the world in a better way, yet it is just more of the same oligarch controlled BS that we've always had.



A billion aren't mining, only a few very well connected few. An oligarchy is taking form. The coins are only going to a few oligarchs


They want to maximize their profit and be in control of their destiny.


It isn't just the pools that are the problem, but that the mining farms are large and concentrating the 51+% amongst a few oligarchs. This will only grow more centralized over time, because TPTB_need_war explained in his technical analysis, that profitable proof-of-work always accrues over time to maximum economies-of-scale. There are several reasons for that including propagation advantages of being the first to win more blocks, so don't waste hashrate mining on the wrong fork for a short period, which over time gradually depletes the other miners of relative profits. It is more complex than that. You need to read his entire analysis to understand.


That is an incorrect understanding. As I explained above, the mining hashrate economically accrues to those miners with the greatest economies-of-scale. No one can buy mining equipment to offset that, because the miners in China are ostensibly getting nearly free electricity and nearly 0% interest loans. It is a corruption charged to the collective. Don't you understand how Communism works? We have this system now in the West too. Capitalism is dead. Long live Marxism!



Exactly. You guys don't care whether Bitcoin ends up as a totalitarian digital hell. You only care about making a profit hell or highwater, come what may.


Why are you building a strawman argument to deflect the debate away from the important issue. Obviously it doesn't matter where the oligarchy on mining is located. The only thing that matters is that profitable proof-of-work will always end up entirely centralized. TPTB_need_war has explained why this is the case because he an expert on the economics and technology, despite what some trolls might want to mislead you to believe.


And that will only happen because of my work to fix the jamming problem that plagued all DE designs. The trolls want to ridicule me, and I don't yet get the recognition. But that is okay. I just want you to know the truth.


Finally someone with a brain stem! Congrats!

Yeah it is more of charging the expenses to the collective and keeping the profits for themselves. Same as the banksters did with the bailouts.

$1 million of your investor money every day going to those fat cats. And circulating back around as $70 million in grease money for Blockstream to rape you with.


Yeah why care if the banksters keep the profits and charge the bailouts to the people. Love that Communist/Fascism, don't you?


Yeah it was great when the banksters stole the bailouts from the government! Excellent logic. 

Good to see you want BitCON to be all about stealing. Nice world you want to promote.


You haven't studied the history of oligarchies. They can only act one way. Give it a little time. The collusion is taking form. By the time, you realize it, it will be too late to do anything about it or to change. Bitcoin will be too well established by that time, just like fiat is now. You will bend over and take in your ass, because you didn't think it was a problem when I told you and then when you realize you will have no more choice nor options to pursue.

What is so ironic from my perspective (and I suspect the elites are also having a good chuckle about the blindness of you "useless eaters/cattle") is that once you review all the facts (<--- click to know what Satoshi Nakamoto really is), the fools are those who even entertain any thought that Satoshi could be a person.

The elites are playing us like a fiddle with BitCON. Seriously. I didn't reach this conclusion without extensive thought and rationality.


Zero chance. Nick is both not smart enough and doesn't code prolifically enough.

https://bitcointalksearch.org/topic/m.14456412
https://bitcointalksearch.org/topic/m.13239420 (Craig Wright was correct, Szabo was incorrect)
https://bitcointalksearch.org/topic/m.14196266 (did Nick ever create any s/w?)
https://bitcointalksearch.org/topic/m.14464292

Click to the word "Quote" read more:

There's no misunderstanding, read the thread/s for yourselves.

I am fairly confident it is a misunderstanding, but it might be a good idea to submit this to the core devs just in case. I am fairly confident that there isn't a backdoor, but it might just be a good idea to show it to them, just in case. Maybe they already know or have a patch for it, but we'll see.

Good find I guess, glad to see someone found something that could be incredibly detrimental.

IDK maybe it was just a misunderstanding, but posting it on reddit so that more people can see it and examine it.

If there is a legitimate problem with bitcoin, people need to know about it.

Yeah posting it elsewhere where they don't have vested interests may be more productive, the powers that be on bitcoin talk just enjoy fucking with you.

Post that on /bitcoin reddit, i would like if other mathematicians would look at it. It could be an interesting finding you got there.

And if what you said there is possible then it could compromize bitcoins security.

Nothing is safe forever, ever.

This is moving along quickly.

Back door in Bitcoin? Click link to find out...

I`m not saying its easy, and i`m not saying it should be done. But as a last resort, there is always an emergency red button available for bitcoin if SHTF.

I hope the bitcoin miners dont screw it up, but if they do , then the current algo has to be switched to an ASIC resistant one, and then all ASICS will become worthless.

Thats a big financial punishment for the miners, and we can hold this leverage against them if they choose to do dirty things.

So fundamentally the bitcoin users and businesses control bitcoin, the miners are only delegates.

I've read this argument many times, I am not convinced it will be that easy and effortless to switch the mining algo. Hope you're right.