Topic: Keiser said Bitcoin Foundation should run Bitcoin and set the price (Read 5295 times)

Interesting.

I think everybody knows that in a free market the big players control the prices.  The question is, why would these big players pay any attention to Max, the Foundation, or some idiots posting on this forum?   

 
Very funny:
http://thegenesisblock.com/no-mr-keiser-bitcoin-should-not-peg-itself-to-the-dollar/

Shameless is right. He sounds much more intelligent and reasonable here: http://rt.com/op-edge/if-bitcoin-exchanges-shut-down-518/

4 eyes are better then 2 and so on and so forth. it will work it has to, that's the genius of strength in numbers, humans are pack animals problem is most are only just realising.

You have broken through the illusion,"Fight them where they aren't".

Hey Tracker, remember your idea for a voting system/decentralized idea machine?


Parts of Bitcoin are rushing to the center to compete with existing systems, while other development is racing to the edge of what is possible. Guess which angle has more real estate? The  new possible is unpredictable, undeterministic, wild and untamed. The frontier of our existence just within reach.
Let them(whoever) set a price on Bitcoin, regulate and strangle innovation. Innovation has already moved from the center, never to return. They may possess only the illusion of centrality, we remain dismissive of compromise and contention.

Brother you want to know the game plan?

This is what I think is what is going to happen. Bitcoin is the foundation for Web 4.0, the beginning of full decentralization, the masses begin to distribute the wealth that was centralized by businesses, yes the businesses shared the wealth to their employees but mainly concentrated it unto themselves, so people swindle them with Gucci crap I can make in my basement for 5 dollars in textiles.

Web 4.0 is the Virtualization of all human institutions, where the mass of people gave their decentralized currency to centralized business, the tables get turned, now the masses give unto themselves for their hard earned effort. You get to choose who you support, ten years from now someone will be firing up their Vertex 7 2000T to help out a virtualized corporation that works by the people for the people, Democracy 2.0; the world wide roll-out.

Bitcoin is the beginning, next step p2p weather stations that run on your phone, off of Open Source hardware, world wide data distributed to the masses.

Decentralized agricultural machinery, running world wide off a p2p A.I specifically built to efficiently run off of human supply and demand; and everyone who runs their FPGA to help gets paid.

World wide co-ordinated supply chain, trucks cars run by A.I delivering you groceries to your door, monitored thanks to the help of you, and you get paid!

Watson diagnosing your medical condition and analyzing it/ comparing it to all humans/ monitoring industry to regulate toxins thanks to your FPGA contributing it's effort to the health of every human being alive.

Pay for Contribution will become the norm... and no-one can stop it, they can attempt to destroy the individuals but it is unstoppable the only solution for them if they want to control is to create the greatest CCTV camera system ever created, with chips implanted in every human being, effectively zombifieing the population, and if they choose that route they may as well destroy us all, and replace us with machines... good luck at this point; our collective intelligence out-computes anything that a centralized system could produce, it can only be delayed.

The multi-headed Machine that Satoshi unleashed is unstoppable, there are clones everywhere; The idea has been released, there is no choice, the collective can out-think any individual, and it does not forget.



Edit: If this distribution does not occur, and it keeps centralizing, the threat of automation will throw us into the deepest depression ever seen. The wealth will keep accumulating into the hands of a few, their taxes will keep being cut, more will be demanded of the middle class, increasing the lower classes. The only thing the Fed can do is keep printing more money to hide this ever increasing erosion, that is why inflation has not skyrocketed, they are offsetting the wealth distribution, but the stimulus' will get bigger and bigger as less and less of that money trickles down. labour will keep migrating faster and faster, people will be trained year after year in different industries because their old ones no longer are demanded. Social decay will begin to take over as the only income that people are getting is from Social Welfare programs that do not allow them to invest in their communities, just enough to subsist. Eventually power will concentrate into a few hands, into the hands of those that control the government and their descendants, a invisible monarchy will arise where we elect the chosen of the aristocracy, bringing about a communist system that subsidizes all industries for support... central control... or worse; a feudal system similar to what was described in the novel Dune.

This.

I await the Bitcoin Foundation Bible and all the morals they will teach me.

Agreed, for most of the people float point calculation is just too complex, it will be much better to use integer units. We could use carat and grain such kind of totally different naming unit, so that the count can always be done with an interger value without the impression of cheap sub-units like dime and cent

Let's suppose that after 100 years, 1 bitcoin's value will correspond to 1 big diamond which is 100 carat, it is not convenient to use this large unit to do anything, they have to use much smaller units, so the more useful unit is carat or grain

100 carat bitcoin = 1 full bitcoin
100 grain bitcoin = 1 carat bitcoin
100 micro bitcoin = 1 grain bitcoin
100 satoshi = 1 micro bitcoin

This can give an impression of the smaller unit are still quite valueable

1 carat bitcoin currently only cost 1.2 dollar, isn't that a super bargain?  

I think your equation is not arranged correctly.  The problem, to me, is that it is constrained toward centralization as the only realistic way forward.

I don't think that anyone, and certainly not most of the primary devs, have anything against decentralization.  It's mostly that without a very well thought out scaling design there is simply no way to make any solution scale to encompass the vastness of the street-level transactions of humanity and yet remain operational by the masses.  Bitcoin was never specified with either vertical (sharding) or horizontal (multi-tier) scaling concepts, and that is, in my opinion, it's Achilles' heal when it comes to decentralization.

The opportunity existed (or possibly still 'exists') for Bitcoin to remain a viable foundation upon which a horizontal system could be constructed but that is not the direction that things seem to be headed.

In my opinion centralization kills every chance of anything being operated by the plebs. When i view Bitcoin as a social experiment it does wonders for me in (not) understanding humanity. I mean, we have a decentralized currency and a chance to build a whole new economy from step one by the people for the people. What has happened? In 4 years we have developed our own central bank (MtGox) and you see sellouts everywhere screaming for more centralization and regulations. I guess human greed is as infinite as human stupidity.

Most Bitcoiners don't hate the current system. They just hate not being on top of it. If they are the new masters, it's alright.

I'm salivating more and more at the potential to have the best of both worlds.  That is, let Bitcoin make me rich, then throw my affections behind a solution which is more likely to remain highly decentralized and operated by the plebs (which was definitely the 'killer app' aspect of Bitcoin when I first became actively interested in the solution and the think with produces credible 'backing' in my opinion.)

So now people want to centralize a decentralized currency to make it mainstream and become rich? You know i am becoming increasingly worried with the direction Bitcoin has started to take in the last couple of months. People don't want a decentralized currency that can never be taken down by governments and that will free people of oppression. They want to give Bitcoin to central bankers, let the big fish control it, just so 1 BTC can increase in value.

If that is true we should ignore him since he isnt thinking of the big picture.

The problem is a lot of people are not just thinking of bitcoin as an alternate currency to the USD, Euro and other currencies. People like Max Keiser are using it as an investment only.

Bitcoin was designed to have no controlling authority and it should remain that way. If things keep progressing, it could become adopted as an extreme viable currency in a lot of places and accepted even further than it already is

That is a terrible idea and ruins the whole idea of bitcoins to me personally.

Well it looks like nobody here is able to make an estimate of the bankroll it would take to be the market maker Max suggests. 

First step of course would be to sell to all bids dropping the price to 100.  Then build a nice fat bid and ask wall at 100 and 100.1 or so. 

I'm no expert in this field either but "maitenance" of this position would be expensive, however while able to hold it there would be some profit to help the maintenance fund.  If I had to make a guess I would say a factor of 100 or so total daily volume would be needed to get this project going  

when they by-lawed satoshi's ghost into it