Topic: What are you all - Sheep? (Read 3118 times)

The same happened to the internet. In the 90s it was even too complicated to just connect and it was a hassle for most users to simply send an email. People thought, the internet is not important and still today everyone is using it. Same will happen to Bitcoin.

Average Joe Lazy Dumbass won't do that though. Mr. J. L. Dumbass thinks that's too complicated, and slow. He would rather live in a totalitarian oligarchy than lift a finger to do anything. Bitcoin isn't even necessary in Murrica, but poor J.L. is too lazy to drive two blocks from his house and vote for change.

Bitcoin users should consequently prefer using peer to peer (Bitsquare, OpenBazaar etc), rather than centralized solutions, like Coinbase.

That is fucked up.

Santa Clause is coming to town.

Largest US Bitcoin Exchange Ordered To Disclose Three Years Of User Data To IRS
http://www.zerohedge.com/news/2016-12-01/largest-us-bitcoin-exchange-ordered-disclose-three-years-user-data-irs


The executed DOJ order:
https://www.justice.gov/opa/press-release/file/914226/download


*really big picture*

We concluded our report by wishing "Good luck to Coinbase fighting the IRS: if America's tax collector is intent on getting the identities of the biggest traders are in America's largest bitcoin exchange, it will certainly succeed (especially if they happen to be conservatives)."

Alas, our best wishes were not enough, and yesterday a federal court in the Northern District of California ordered Coinbase to disclose what the IRS has demanded: all American user transactions from 2013 to 2015.

Despite the order, Coinbase has vowed to continue the fight: "We look forward to opposing the DOJ's request in court after Coinbase is served with a subpoena," a spokesman for the San Francisco-based company said in an email to Reuters.

Coinbase remains concerned with its U.S. customers' privacy rights in the face of the government's request, he added, although he is likely far less concerned than any people who used Coinbase from 2013 to 2015, and who may soon be getting a visit from the taxman, even if they have done nothing illegal. As for the myth that trading bitcoin by ordinary Americans provides some additional layer of privacy, that is about to be thoroughly debunked.

Now the question is what head of the hydra will take over to protect the privacy?

Unfortunately, it won't matter.

Re: Flood attack 0.00000001 BC
Bitcointalk
2010-08-05 16:03:21 UTC - Original Post
Forgot to add the good part about micropayments.  While I don't think Bitcoin is practical for smaller micropayments right now, it will eventually be as storage and bandwidth costs continue to fall.  If Bitcoin catches on on a big scale, it may already be the case by that time.  Another way they can become more practical is if I implement client-only mode and the number of network nodes consolidates into a smaller number of professional server farms.  Whatever size micropayments you need will eventually be practical.  I think in 5 or 10 years, the bandwidth and storage will seem trivial.

I am not claiming that the network is impervious to DoS attack.  I think most P2P networks can be DoS attacked in numerous ways.  (On a side note, I read that the record companies would like to DoS all the file sharing networks, but they don't want to break the anti-hacking/anti-abuse laws.)

If we started getting DoS attacked with loads of wasted transactions back and forth, you would need to start paying a 0.01 minimum transaction fee.  0.1.5 actually had an option to set that, but I took it out to reduce confusion.  Free transactions are nice and we can keep it that way if people don't abuse them.

That brings up the question: if there was a minimum 0.01 fee for each transaction, should we automatically add the fee if it's just the minimum 0.01?  It would be awfully annoying to ask each time.  If you have 50.00 and send 10.00, the recipient would get 10.00 and you'd have 39.99 left.  I think it should just add it automatically.  It's trivial compared to the fees many other types of services add automatically.

Why does everyone just stand around doing nothing while nullc / Blockstream / GMax takes over Bitcoin?