Author

Topic: Future of bitcoin (Read 850 times)

newbie
Activity: 4
Merit: 0
March 18, 2014, 04:16:01 PM
#7
I have said this before, but I could care less if the price is a bubble or not. The protocol is worth its hashrate in pure gold.

Nail hits head. The protocol is genius and the synthesis of the protocol with gold made Goldcoin (GLD).

It is our belief that the future of Bitcoin is Goldcoin.

Too much confusing with the name.
newbie
Activity: 56
Merit: 0
March 16, 2014, 12:14:48 PM
#6
I have said this before, but I could care less if the price is a bubble or not. The protocol is worth its hashrate in pure gold.

Nail hits head. The protocol is genius and the synthesis of the protocol with gold made Goldcoin (GLD).

It is our belief that the future of Bitcoin is Goldcoin.
legendary
Activity: 2212
Merit: 1199
March 16, 2014, 10:15:44 AM
#5
I see the future of Bitcoin similar to the current usage of TCP/IP.
99.999% of people who use TCP/IP today use it through "Third-parties" even though the beauty of TCP/IP is the ability for two computers to connect to each other without having to go through a 3rd party. (This was originally attained via calling them up by phone number... which was using the phone infrastructure kind of how Bitcoin uses the internet infrastructure of today.)
I see things like multisig being integrated with hardware/IC chips on cards etc. that the user holds, and a trusted third party holds the 3rd key etc. in case of loss or theft. Then the coinbases and coinkites just play as intermediary... checking against a preset list of conditions to allow transactions and notifying you of attempts to perform transactions outside your set conditions.
If you ask someone who used email in its infancy what they would think if a handful of companies offered free email to the masses, where they would store all info on central servers, those people would probably say "But that's not e-mail, that's just stealing data and privacy invasion. The NSA will just collect everyone's data!" (which actually happened... but besides the point)
If Bitcoin is to involve everyone in the world, then it needs to be user friendly. User friendliness is gained by having a third party deal with the technical parts and just give the user a simple user interface.
I think multisig will allow the GMAILs of Bitcoin's future to create a user friendly service without giving your private keys to the NSA.
Right now, what we need to do is TALK with these businesses to make sure best business practices are utilized. Then we need to INNOVATE. The programmers of the world must create new features for the protocol that enable third parties to offer simple UIs without any need for trust. (ie. A perfected P2P exchange protocol + Google backed UI = trustless and simple P2P exchanges.)
Onlookers see Bitcoin as a bubble about to pop, but Bitcoin as a protocol is just beginning. I have said this before, but I could care less if the price is a bubble or not. The protocol is worth its hashrate in pure gold.

Well interesting and perhaps this is true but it seems just normal.
And perhaps there is some kind of a good thing that come  with it.
hero member
Activity: 1582
Merit: 502
March 16, 2014, 08:29:01 AM
#4
So what is Neo-Bee?

http://www.neo-bee.com/en/

newbie
Activity: 14
Merit: 0
March 16, 2014, 07:39:09 AM
#3
Yes Indeed
member
Activity: 74
Merit: 10
March 16, 2014, 07:32:24 AM
#2
I like that you are looking at how previous innovations evolved and trying to apply it to bitcoin. The truth is, if you gave me a pre-windows PC I could probably not use it immediately. I would get out the book and read up on how to run a program. Now consider iPhones, and the fact that mine didn't even come with a manual because it's so user friendly. So yes, all new technology evolves in a user friendly direction. That's a good observation. I have not been into cryptocurrency long, but I have heard the "its not for your grandma" rhetoric quite often. A bitcoin GUI for grandma would actually be cool.
newbie
Activity: 14
Merit: 0
March 16, 2014, 07:16:54 AM
#1
I see the future of Bitcoin similar to the current usage of TCP/IP.
99.999% of people who use TCP/IP today use it through "Third-parties" even though the beauty of TCP/IP is the ability for two computers to connect to each other without having to go through a 3rd party. (This was originally attained via calling them up by phone number... which was using the phone infrastructure kind of how Bitcoin uses the internet infrastructure of today.)
I see things like multisig being integrated with hardware/IC chips on cards etc. that the user holds, and a trusted third party holds the 3rd key etc. in case of loss or theft. Then the coinbases and coinkites just play as intermediary... checking against a preset list of conditions to allow transactions and notifying you of attempts to perform transactions outside your set conditions.
If you ask someone who used email in its infancy what they would think if a handful of companies offered free email to the masses, where they would store all info on central servers, those people would probably say "But that's not e-mail, that's just stealing data and privacy invasion. The NSA will just collect everyone's data!" (which actually happened... but besides the point)
If Bitcoin is to involve everyone in the world, then it needs to be user friendly. User friendliness is gained by having a third party deal with the technical parts and just give the user a simple user interface.
I think multisig will allow the GMAILs of Bitcoin's future to create a user friendly service without giving your private keys to the NSA.
Right now, what we need to do is TALK with these businesses to make sure best business practices are utilized. Then we need to INNOVATE. The programmers of the world must create new features for the protocol that enable third parties to offer simple UIs without any need for trust. (ie. A perfected P2P exchange protocol + Google backed UI = trustless and simple P2P exchanges.)
Onlookers see Bitcoin as a bubble about to pop, but Bitcoin as a protocol is just beginning. I have said this before, but I could care less if the price is a bubble or not. The protocol is worth its hashrate in pure gold.
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