PLEASE DELETE | Bitcointalksearch.org

UKMark

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Empty vessels make most noise.

Quote from: Etlase2 on April 29, 2013, 05:47:17 PM

The money in mintchip has a centralized distribution architecture, even if it can be used in a decentralized way. It does not require hashing power to be secure, it requires whatever signature algorithm the chips use to remain secure from people trying to hack the chip.

K I understand your Facepalm now Cheesy

, tbh I just posted that thinking it was another hashed currency, and ignored the WARNING there have been other posts while you were supping your coffee, lighting your fag and scratching your arse in between key presses.... blah, blah, message on submit. Tongue

So it would be similar to a Mifare type of chip I take it?

Etlase2

hero member

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The money in mintchip has a centralized distribution architecture, even if it can be used in a decentralized way. It does not require hashing power to be secure, it requires whatever signature algorithm the chips use to remain secure from people trying to hack the chip.

UKMark

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Empty vessels make most noise.

Quote from: Etlase2 on April 29, 2013, 10:51:19 AM

Quote from: UKMark on April 28, 2013, 09:08:43 PM

Of course the banks won't want anything they can't centralize to succeed, but what they are forgetting is the sheer security needed to have money in a digital format, BTC has taken 4 years to get just over 11,000,000 extremely secure digital mintage, what are these Banks gonna use in 4 seconds/minutes/weeks/months even years with next to no hashing power?? - MD5 LOL?

:facepalm:

Huh you lost me? Care to explain your facepalm?

Etlase2

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Quote from: UKMark on April 28, 2013, 09:08:43 PM

Of course the banks won't want anything they can't centralize to succeed, but what they are forgetting is the sheer security needed to have money in a digital format, BTC has taken 4 years to get just over 11,000,000 extremely secure digital mintage, what are these Banks gonna use in 4 seconds/minutes/weeks/months even years with next to no hashing power?? - MD5 LOL?

:facepalm:

UKMark

full member

Activity: 144

Merit: 100

Empty vessels make most noise.

Quote from: ?? on ??

Actually the second link - in the second post is great. If you read the comments after the article in the link it gets really indepth about economics and law. Pretty interesting.

http://business.financialpost.com/2013/04/27/bitcoin-canada-banks/

Agreed I have just read most of the comments also, its very good!

Is there anything that Bitcoin can do to force the Banks to change their mind though? Or will this just be a closed shop with regards to Canada?

TBH I reckon it would/will just go to OTC dealers if the Banks are not interested in supporting it.
IE: Make something illegal and you automatically create another market.

UKMark

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Activity: 144

Merit: 100

Empty vessels make most noise.

Quote from: ?? on ??

Quote from: grue on April 28, 2013, 09:05:56 PM

Quote from: solareclipse64236 on April 28, 2013, 09:04:55 PM

its been discontinued already

lol, I wonder why it failed? I'm guessing security exploits.

Yea, the backdoor password was "Hockey" - some drunk teenage hacker cracked it.

Lol that was quick Cheesy

UKMark

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Activity: 144

Merit: 100

Empty vessels make most noise.

Now there is Irony Undecided

Of course the banks won't want anything they can't centralize to succeed, but what they are forgetting is the sheer security needed to have money in a digital format, BTC has taken 4 years to get just over 11,000,000 extremely secure digital mintage, what are these Banks gonna use in 4 seconds/minutes/weeks/months even years with next to no hashing power?? - MD5 LOL? Either way it will be something that without a shadow of a doubt will be hacked/copied and generally targeted for total fraud and with total ease... LMAO we will see who shall win!

I'm stocking up on popcorn for this one! Cool

grue

legendary

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Quote from: solareclipse64236 on April 28, 2013, 09:04:55 PM

its been discontinued already

lol, I wonder why it failed? I'm guessing security exploits.

solareclipse64236

sr. member

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its been discontinued already

grue

legendary

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Quote from: ?? on ??

Someone needs to start an alt-coin called the mintchip RIGHT NOW. We need to swamp google search with an alt-coin named MintChip! What a spoiler and power grab for the alt-coin community.

THIS IS NOT AN ALT-COIN. I REPEAT: NOT AN ALT-COIN

The value is stored on the device itself, and the price is pegged to the canadian dollar. This is closer to a credit card than an alt-coin.

aigeezer

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Cryptanalyst castrated by his government, 1952

Jon Matonis pointed out some drawbacks to the mintchip in Forbes back on April 12th: http://www.forbes.com/sites/jonmatonis/2012/04/12/mintchip-misses-the-point-of-digital-currency/

master-P

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https://keybase.io/masterp FREE Escrow Service

HAHAHA This was done last year, don't you remember? Grin

grue

legendary

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too bad you can double spend if the chip is compromised.

Anon136

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Quote from: jimmyk on April 28, 2013, 08:54:00 PM

http://www.finextra.com/news/fullstory.aspx?newsitemid=23603

this is going to be a game changer for the bitcoin community

take usd to the corner store, swap it for canada money, fund mtgox with canada money instantly

jimmyk

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