Topic: State of Bitcoin - page 2. (Read 1975 times)
Thanks! Keep them coming, always nice to see what other people think...
I like it because it gives me a chance to do cool things like mod my computer and think of new and different ways to use bitcoins (or namecoins) and hear other people's thoughts on those ideas.
It also gives me the opportunity to learn more about economics and security all in one neat package. I read a post on here the other day that had a debate about deterministic wallets that got REALLY detailed in the security of passwords. Something I would've had no interest in otherwise. But I learned a lot and have since changed my passwords to be much more secure lol.
It also gives me the opportunity to learn more about economics and security all in one neat package. I read a post on here the other day that had a debate about deterministic wallets that got REALLY detailed in the security of passwords. Something I would've had no interest in otherwise. But I learned a lot and have since changed my passwords to be much more secure lol.
What are your reasons why you invest your time into bitcoin?
I'm fascinated by it. It's definitely a new thing under the sun. There are some libertarian ideas which appeal to me, and bitcoin aligns with them nicely. 
I believe bitcoin (or the concept of bitcoin at least) has the potential to make huge impact on our global culture in the long run. I am excited to see where it goes, and I want to do everything I can to foster it's growth, so I invest time, money, and energy into things involving, and supporting bitcoin, so that I know that I am helping to bring about that impact.
It may not be bitcoin itself that ends up being the bringer of change at a global scale, but I think the concept is sound, and bitcoin or something like it will make a major positive shift in the way we think about things.
It may not be bitcoin itself that ends up being the bringer of change at a global scale, but I think the concept is sound, and bitcoin or something like it will make a major positive shift in the way we think about things.
Cool, thanks for your thoughts!
One comment... You are saying that starting a new bitcoin is an alternative for those who distrust the first one.
I think you are implying there exists a possibility for creation of a competing currency.
I do not think there is such possibility, the only competing alternative are the currently existing currencies.
Here is why...
Do you realize that the amount of resources that goes into making the bitcoin is pretty significant? (Like I said my interest is a technical one)
For an alternative that can size up to bitcon to exist an effort has to be made that greatly outpaces the development of bitcoin itself. I think this leaves adopters with only two options: on board or against.
I hesitate to speculate that there might be a clash between the two. I just want to stress that in the foreseeable future the currency camps that are going to exist will be bitcoin and old world currencies, not bitcoin and some other crypto-currency.
You probably can agree. Not sure if point 8 was written in a sarcastic tone hence my explanation.
One comment... You are saying that starting a new bitcoin is an alternative for those who distrust the first one.
I think you are implying there exists a possibility for creation of a competing currency.
I do not think there is such possibility, the only competing alternative are the currently existing currencies.
Here is why...
Do you realize that the amount of resources that goes into making the bitcoin is pretty significant? (Like I said my interest is a technical one)
For an alternative that can size up to bitcon to exist an effort has to be made that greatly outpaces the development of bitcoin itself. I think this leaves adopters with only two options: on board or against.
I hesitate to speculate that there might be a clash between the two. I just want to stress that in the foreseeable future the currency camps that are going to exist will be bitcoin and old world currencies, not bitcoin and some other crypto-currency.
You probably can agree. Not sure if point 8 was written in a sarcastic tone hence my explanation.
As a complexity theorist, I recognised the significance of bitcoin almost immediately. Bitcoin is a superior medium of exchange to what we have been using.
1: Enforcement of anti-counterfeit rules is built in.
2: No central control means that the intelligence of the market rules, and it is a difficult medium to be abused by elites.
3: Freedom and inexpensive exchange
4: Math says that currency monopoly is unhealthy, so there needs to be competition in currency.
5: Designed to reward the early adopter.
6: Bitcoin mining with opencl is cool.
7: Bitcoin mathematics is at its foundation beautifully conceived. Rather than using policemens guns to enforce the nature of the currency, mathematical and computational law do that naturally.
8: There are complaints that bitcoin has no inherent value... Believe it or not, this actually is an advantage because it bypasses one of the money-mongers primary strategies... They find ways to take the currency in use out of circulation (such as government decrees that no one is allowed to have gold) so that they can force people to use their junk shit vomit currencies. For currencies with inherent value, it is difficult to impossible to replace them, so the public winds up falling into their trap. Bitcoin is not that way. It can not reasonably be stolen out of existence. In the worst case, they can just start a new bitcoin.
9: The current system is shit, designed to make slaves of people, and its the responsibility of smart people everywhere to assert an evolution.
Ofcourse, BC has weaknesses as well. Everything does, but that was not the question.
1: Enforcement of anti-counterfeit rules is built in.
2: No central control means that the intelligence of the market rules, and it is a difficult medium to be abused by elites.
3: Freedom and inexpensive exchange
4: Math says that currency monopoly is unhealthy, so there needs to be competition in currency.
5: Designed to reward the early adopter.
6: Bitcoin mining with opencl is cool.
7: Bitcoin mathematics is at its foundation beautifully conceived. Rather than using policemens guns to enforce the nature of the currency, mathematical and computational law do that naturally.
8: There are complaints that bitcoin has no inherent value... Believe it or not, this actually is an advantage because it bypasses one of the money-mongers primary strategies... They find ways to take the currency in use out of circulation (such as government decrees that no one is allowed to have gold) so that they can force people to use their junk shit vomit currencies. For currencies with inherent value, it is difficult to impossible to replace them, so the public winds up falling into their trap. Bitcoin is not that way. It can not reasonably be stolen out of existence. In the worst case, they can just start a new bitcoin.
9: The current system is shit, designed to make slaves of people, and its the responsibility of smart people everywhere to assert an evolution.
Ofcourse, BC has weaknesses as well. Everything does, but that was not the question.
Hello all, I am a new member of Bitcoin community. I have been involved in BTC for some time now.
As most of you, I have a pretty decent mining rig thats doing what its supposed to.
I am posting here in order to earn my right at the table of "BTC grown-ups" and to have a "grown-up" voice. This is probably enough of information to get me started.
To make this post less boring, I want to know if people have ever minded the following...
What is the future of BTC?
I have been pondering on this question for sometime.
On thing for certain, it is difficult to speculate what the future of BTC exactly looks like.
In trying to answer the above question, I have arrived at three solid facts.
1) There are many individuals who are vested in BTC.
2) These are developers, economists, entreprenuers, thinkers.
3) Most of these people believe there is something about BTC that makes it worth their time.
I am interested in personal feedback from the community in regard to number 3.
As for me I feel that BTC offers a technical challenge. Since I started I've learned a lot about GPUs, FPGAs, computing and programing.
What are your reasons why you invest your time into bitcoin?
Thanks!
As most of you, I have a pretty decent mining rig thats doing what its supposed to.
I am posting here in order to earn my right at the table of "BTC grown-ups" and to have a "grown-up" voice. This is probably enough of information to get me started.
To make this post less boring, I want to know if people have ever minded the following...
What is the future of BTC?
I have been pondering on this question for sometime.
On thing for certain, it is difficult to speculate what the future of BTC exactly looks like.
In trying to answer the above question, I have arrived at three solid facts.
1) There are many individuals who are vested in BTC.
2) These are developers, economists, entreprenuers, thinkers.
3) Most of these people believe there is something about BTC that makes it worth their time.
I am interested in personal feedback from the community in regard to number 3.
As for me I feel that BTC offers a technical challenge. Since I started I've learned a lot about GPUs, FPGAs, computing and programing.
What are your reasons why you invest your time into bitcoin?
Thanks!
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