Topic: "Failure to Understand Bitcoin Could Cost Investors Billions" (Bitcoin's flaws) - page 9. (Read 43230 times)

AnonyMint, how did you become a senior member here?

Dating back, March 14th 2013, when you first joined, your very first post was about a flaw in Bitcoin.

What gives?

Why do you fight Bitcoin so much?

Who is your employers?
You are spending too much time trying to get people away from Bitcoin so obviously there is something else behind it.

Wanna share with us?

Quoting me out-of-context by eliding much of the quoted post (and pretending not to read my post that followed it), and then using that liar-method to claim I didn't understand something, is the epitome of beta-male chest thumping.

DooMAD, I like what is linked from your signature. One mistake is you seem to assume that Bitcoin is the certain solution.

I must concede that the odds favor your outcome, but I am hoping the Knowledge Age cyberpunks can rejuvenate production. However, it is quite depressing to see how ignorant (tunnel vision, boiling frogs, zombies) most people are even here in these supposedly enlightened forums of libertarian white males.

In either case, we need a more anonymous crypto-coin. Bitcoin won't suffice.

Stop playing hide&seek games and cite some case law.

I've already provided a resource which says nemo dat quod non habet applies in tracing into mixed funds.

Now it is your turn to cite something that refutes that. Otherwise you are just playing games.

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DooMAD and crazy_rabbit, I'm happy if you convince yourselves to make the biggest mistake of life. Please proceed.

nemo dat quod non habet has been fundamental to Western civilization. You proceed in your Alice in Wonderland fantasy.

Besides the USA has succeeded in forcing every major country to acquiese to our FATCA law, which is much more intrusive into sovereignty than nemo dat quod non habet norms in western civilization.

DooMAD apparently you are in the UK and nemo dat quod non habet originates from your country.

I think you guys have a few screws loose.

Don't give up before you've seen the white paper.  

And don't ask me when and where you will see it.  

Remember what we said as kids, "That's for me to know and for you to find out".

Also factor in that the NWO coin will be much more widespread, and the government has limited resources, especially as the sovereign debt bubble bursts 2016ish. They know they can't get 100% perfection, or if they don't, they will soon realize that as their resources are finite.

As I said, let them have their NWO coin, with 6 billion members. We only need a million or so (10 or 100 million is fine too) for it to be sufficiently widely available.

And guess who will come out the other side of this crisis with their capital intact and with a much larger valued economy? The 6 billion zombies or the 100 million Knowledge Age winners?

DarkCoin isn't anonymous.

...buy Darkcoins...

Indeed those who deserve the NWO coin are lathered up in their groupthink due to salivating at the sight of multiple ZEROs following any non-zero digit.

They intellectually fail to connect the implications of whether those ZEROs will ever actually benefit them or instead an illusory trap of noisome woe and gnashing teeth.

https://www.google.com.ph/search?q=denver+airport+mural

The underlined quoted text is unadulterated nonsense.


Hahaha what naive fool you are. I won't even bother to explain. 

Continue on in bliss boiling frog.

... rest of your nonsense not worth responding to...


Hahaha, yeah the Bitcoin community is going to accept adding required strong anonymity to Bitcoin and the huge risk in change of legal status.

Just try. 

You will learn what inertia and vested interests are.

Indeed the above is all theoretical bullshit that won't help you in reality. The law is the law. The will and power of society is what wins because BITCOIN IS NOT ANONYMOUS. And Mt.Gox's Terms of Service was (as I documented in a linked post in an upthread post) they were acting as an agent with YOUR bitcoin property.


Irrelevant, the law can confiscate other real property and/or garnish wages, because BITCOIN IS NOT ANONYMOUS.

Notwithstanding that the consensus is already controlled by a few mining pools, which can easily be expropriated by the government either overtly or covertly.


No. They would have gone to a judge for a fair ruling, if there was enough incentive, but apparently not enough people were harmed wrongly in order to bring it to court.


I agree one of the solutions is decentralized exchange, but this won't stop all the theft and criminal activities that are tainting Bitcoin in ever increasing proportions.

Only will be true with rock solid, widespread anonymity. And Bitcoin will NEVER have that!  Never.


It could be, with rock solid, widespread anonymity. But Bitcoin doesn't have this and NEVER will.

Tl;Dr Repudiation is always possible if there is not rock solid, widespread anonymity.

Tl;Dr Code is law iff the identities of the participants can not be discovered.

Maybe you should have (sold BTC above $1000) purchased some gold at the $1150 low, since it has no traceable ledger.

Yet I speculate there will be another dip closer to $1000 after this spring rally. Gold won't blast off until after 2015.


See also:

http://armstrongeconomics.com/2014/02/24/gold-all-lathered-up-but-are-we-ready-to-go/

Here is a set of directions for the G20. I suggest that Wall Street Journal reporter who contacted me, can refer to this post.


Government directs through public announcements for users to document their stolen BTC, perhaps at a global entity website. Previously filed cases with local authorities can be forwarded.


This can be automated. It is all on the blockchain. Mixers (a.k.a. laundries, tumblers, CoinJoin, etc) could simply pollute all outputs on the mixer.


You have no rights any more as the $150 trillion global debt bubble collapses society into a pancake chaos, because too many people are trying to hide assets from the onerous taxation and confiscation coming. The society will try to tax and claw-back as necessary in order to meet the impossible (bankrupted) obligations of the government. Observe carefully post-2015.

The NSA & GCHQ can correlate your identity (read all my posts in that linked thread).


Irrelevant. You are liable because you possessed. The law doesn't require you to still be possession.


Not necessary. Just confiscate your real assets and auction them to recover the value stolen. Or garnish your wages.


Already explained in #0 above.


Keep dreaming of your Alice in Wonderland fantasy. Meanwhile the G20 has been ramping up their coordination to go after all those Europeans who have been hiding assets abroad. They've got to pay that unpayable $150 trillion debt somehow.

Perfect.


No because it attempts to do market clearing of bids and asks at the miner. And it has no mechanism to move fiat in the system and depends on their unproven faith that BitUSD will track the value of fiat (which I think I refuted in the thread of discussion on that, yet they are welcome to try it and see what happens).

I am thinking something like a P2P decentralized localbitcoins, with decentralized 3rd parties (with multi-signature) chosen for escrow when escrow is needed. Third parties would compete to gain reputation, but need not be their true identity. If you are not doing meetups where no third party is needed for escrow (maybe only a timeout lockup on the coins), then identity of the holder of the bank account isn't anonymous any way. And the depositor of the fiat need not provide identity, only bank receipt that deposit was made.  Apparently others are working on a similar concept for Bitcoin, but not built-in by default in the official wallet and mining client (note those are the same in a cpu-only coin).

Lots of new coins pop up everyday and most are burried in the process so it's getting harder to launch a new coin and have it noticed.

Bitshares is supposed to be like a decenrralized bank via BitUSD or Bitxxx is this similar to your understanding of a decentralized exchange?

"No".