Iranian's discover bitcoin - Page 4 - TigerDroppings.com

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el duderino III
Texas Fan
austin
Member since Jul 2011
1517 posts

re: Iranian's discover bitcoin


fear? what do I have to be afraid of? i'm not invested in dollars, and I don't work for the fed
quote:

completely misunderstand the technology
you said the same thing last time. you're all caught up in this cool idea and not listening. I'm saying, it doesn't matter if the technology is absolutely perfect(which it's really not, due to both user carelessness and malicious exit nodes, but let's presume it is). What im saying is that if you have this entirely abstract sort of currency union, but no americans have use for it, and no americans have anything they would want or be able to buy with it (even if companies dont reject it as payment on their own, the gov't can easily make it illegal to accept it as payment) then once americans become aware of all the disgusting, heinous crimes it's being used to finance - I'm telling you that they're really just not going to end up caring what the government has to do. if they can't see what you do on your computer through the internet, they'll just start coming through peoples houses. it's incredibly easy to plant bugs that just generate screenshots and stream the data elsewhere. force computer operating systems to detect the tor browser or any .onion protocol using application. instead of arresting suspected drug dealers, start monitoring what they're doing on their computer first. find a string of them that are using SR, throw in a pedophiles or two, make the arrests, then tell the media you tracked them through new, more advanced data aggregation strategies. It doesnt have to be true, and it doesnt have to be that many people. All it has to be is enough to convince people that they are nowhere near as invincible as they previously thought behind their computer screen.

and why exactly do you think it's beyond the capability of the US govt to outright shut down bitcoin exchanges like MtGox anyways? That might be one of the biggest weaknesses right there - those exchanges are not like deepweb sites. they have to deal with brick and mortar banks, they can't just disappear and pop back up on different servers around the globe.

again, i'm not arguing that this will happen. I'm saying that IF the federal government decides that bitcoin is a threat, it absolutely is capable of getting the vast majority of americans to abandon it. there is no amount of "really cool advanced technology, that nobody but me really gets" that can overcome comparatively infinite resources in the long run.



This post was edited on 11/30 at 9:29 am


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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
80697 posts

re: Iranian's discover bitcoin


quote:

BitCoins would be a great way to avoid paying taxes/hiding income.

IMO, this is the biggest reason most governments would not look favorably upon a wide use of bitcoins and not any type of "fear" over losing a monopoly on their currency.






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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
294608 posts

re: Iranian's discover bitcoin


quote:

once americans become aware of all the disgusting, heinous crimes it's being used to finance

the fed tried to use this line of logic after 911 with the whole "you're funding terrorists if you buy drugs" line and that failed massively

quote:

and why exactly do you think it's beyond the capability of the US govt to outright shut down bitcoin exchanges like MtGox anyways? That might be one of the biggest weaknesses right there - those exchanges are not like deepweb sites. they have to deal with brick and mortar banks, they can't just disappear and pop back up on different servers around the globe.

i'll say this. governments try, and fail, to shut down sites that promote piracy and streaming of IP

and these sites are WAY out in the open, yet government continually fail to shut them down






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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Iranian's discover bitcoin


quote:

SlowFlowPro


one thing that gets overlooked a lot in the bitcoin discussions is that bitcoin is actually 2 things:

1) a currency (which is what we concentrate on)

2) a transaction network


As a transaction network, bitcoin has numerous advantages over traditional parties. Bitcoins has features like:

-immediacy
-anonymity
-extremely low or non-existent transaction fees (we're talking literally fractions of a penny if any at all)



Why use Western Union? They will require a lot of forms and paperwork due to regulation, and will charge high fees to cover their compliance with regulation, their brick and mortar shops, and employees salaries, etc.

Why use Visa or MasterCard? They will charge you a set fee of like 5-10 cents per transaction plus a percentage of the total cost of the transaction. I read an article yesterday that stated card processors were making more off of convenience stores than the conveniences stores were making themselves.



This is literally a revolutionary technology that should not be feared but rather embraced.







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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
294608 posts

re: Iranian's discover bitcoin


quote:

one thing that gets overlooked a lot in the bitcoin discussions is that bitcoin is actually 2 things:

1) a currency (which is what we concentrate on)

2) a transaction network

i try not to use the C word b/c i think of it much more as a transaction tool...like a commodity







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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Iranian's discover bitcoin


quote:

fear? what do I have to be afraid of?


Then why do you keep propping up the status quo? You spread fear propaganda like, "OMG prices could rise due to China's currency manipulation no longer working." Your whole assumption is that central planning and currency manipulation is a good thing.

Why do you fear a free market?

quote:

malicious exit nodes




What the frick are you even talking about? You have no clue.

quote:

once americans become aware of all the disgusting, heinous crimes it's being used to finance


just like US dollars in cash?

quote:

I'm saying that IF the federal government decides that bitcoin is a threat, it absolutely is capable of getting the vast majority of americans to abandon it.


I disagree






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el duderino III
Texas Fan
austin
Member since Jul 2011
1517 posts

re: Iranian's discover bitcoin


quote:

the fed tried to use this line of logic after 911 with the whole "you're funding terrorists if you buy drugs"
that is not even close to the same thing. there is no real economy for bitcoins other than buying drugs, and buying sadistic shite - and the key point - the gov't can keep it that way if it wants. at that point, everyday americans will have no use whatsoever for it, so the gov't could pretty easily argue that simply by allowing it's continued existence when there is no need to, you are facilitating the continuation of such activities. again, im not saying they would do this to actually try to crack down on kiddie porn rings. I'm saying they would say thats why they're doing it, but really only care about keeping it from expanding to the real economy, and keeping tax revenue in plain sight.
quote:

i'll say this. governments try, and fail, to shut down sites that promote piracy
you honestly think the US government has really tried? the interests of the music industry are not quite at the top of the list. If you began to see large scale communication between terrorists networks using P2P file sharing, i guarantee you you would see some advancements made extremely quickly






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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Iranian's discover bitcoin


quote:

you honestly think the US government has really tried? the interests of the music industry are not quite at the top of the list. If you began to see large scale communication between terrorists networks using P2P file sharing, i guarantee you you would see some advancements made extremely quickly



uh oh, a bitmessage protocol was just announced that mimics bitcoin but that messages are sent instead of bitcoins. and they are all encrypted. all anonymous. all processed by the entirety of the network.

what will the government do with that? scary men might use it to plan crimes.



This post was edited on 11/30 at 9:43 am


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el duderino III
Texas Fan
austin
Member since Jul 2011
1517 posts

re: Iranian's discover bitcoin


quote:

This is literally a revolutionary technology that should not be feared but rather embraced.
it will be embraced, but not in it's current form, because this:
quote:

-anonymity

will end up being unacceptable to both the public, and governments






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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
294608 posts

re: Iranian's discover bitcoin


quote:

there is no real economy for bitcoins other than buying drugs, and buying sadistic shite

that is not true

girls on reddit show tits for bitcoins

there are probably all sorts of other little e-based cottage industries that do the same that are also fully legal and OK

quote:

. I'm saying they would say thats why they're doing it,

well let's also remember american society about 15 years ago decided they felt it was 100% ok to steal billions of IP every year

would some people fall for it? sure. would a lot of the tech-savvy younger generation? doubtful

quote:

you honestly think the US government has really tried?

they fricking shut down/assumed sites. within like 6-8 hours, different sites were made elsewhere and the feds haven't been able to shut them down yet.

quote:

If you began to see large scale communication between terrorists networks using P2P file sharing, i guarantee you you would see some advancements made extremely quickly

you don't think both sets of actors already are/






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Decatur
New Orleans Saints Fan
Member since Mar 2007
17557 posts

re: Iranian's discover bitcoin


If hackers raid my bitcoin account, am I just shite out of luck?

What if someone finds a way steal all of the bitcoins, what then?






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el duderino III
Texas Fan
austin
Member since Jul 2011
1517 posts

re: Iranian's discover bitcoin


LINKso how did this happen? can they monitor traffic over an individual's exit nodes, in addition to planting their own exit nodes? explain this absolutely impervious technology to me





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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Iranian's discover bitcoin


quote:

so how did this happen?


Tor and bitcoin are two separate things.

Tor is not needed for bitcoin.



BTW, Tor was created by the US government.






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buddhavista
Member since Jul 2012
3543 posts

re: Iranian's discover bitcoin


quote:

IMO, this is the biggest reason most governments would not look favorably upon a wide use of bitcoins and not any type of "fear" over losing a monopoly on their currency.


oh, I agree.

But you know what, there is shite they can do to stop it. Basically, they would have to shut down the internet to stop it. It would be a game of whack a mole, they might be able to kill bitcoin but another would rise in its place.

Who has one, the file sharers or the record industry? even with the gov't, the ISPs and popular opinion, the file sharing community destroyed the record industry business model.

Bitcoins and future versions of it will do this to currencies.

And it will get beyond internet commerce in no time. It would be very easy to put a wallet on phone, and then "bump" transactions.






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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Iranian's discover bitcoin


quote:

If hackers raid my bitcoin account, am I just shite out of luck?


There is not such thing as a bitcoin account.


The only way to get "hacked" would be if someone gained knowledge of your private key. They could do that if you stored it in an insecure manner on your PC.

But that wouldn't be a hack of bitcoin, it would be a hack of your PC.

You should securely store your private key.

quote:

What if someone finds a way steal all of the bitcoins, what then?


From the bitcoin FAQ:
What if someone bought up all the existing Bitcoins?

Bitcoin markets are competitive -- meaning the price of a bitcoin will rise or fall depending on supply and demand at certain price levels. Only a fraction of bitcoins issued to date are found on the exchange markets for sale. So even though technically a buyer with lots of money could buy all the bitcoins offered for sale, unless those holding the rest of the bitcoins offer them for sale as well, even the wealthiest, most determined buyer can't get at them.

Additionally, new currency continues to be issued daily and will continue to do so for decades though over time the rate at which they are issued declines to insignificant levels. Those who are mining aren't obligated to sell their bitcoins so not all bitcoins will make it to the markets even.

This situation doesn't suggest, however, that the markets aren't vulnerable to price manipulation. It doesn't take significant amounts of money to move the market price up or down and thus Bitcoin remains a volatile asset.






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el duderino III
Texas Fan
austin
Member since Jul 2011
1517 posts

re: Iranian's discover bitcoin


quote:

would a lot of the tech-savvy younger generation? doubtful
this is what I keep saying, but yall keep ignoring - i dont give a shite about bitcoin. I have no problem with bitcoin. but people in tech who are paying attention to this stuff, embracing it, etc, are in the severe minority of the population, and the federal government will have a LONG time to work with until that minority becomes a majority. and scared old people voting>>>>>young tech people voting. it's not even debateable






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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Iranian's discover bitcoin


quote:

It would be very easy to put a wallet on phone, and then "bump" transactions.


already possible






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buddhavista
Member since Jul 2012
3543 posts

re: Iranian's discover bitcoin


quote:

this is what I keep saying, but yall keep ignoring - i dont give a shite about bitcoin. I have no problem with bitcoin. but people in tech who are paying attention to this stuff, embracing it, etc, are in the severe minority of the population, and the federal government will have a LONG time to work with until that minority becomes a majority. and scared old people voting>>>>>young tech people voting. it's not even debateable

yeah, Khadafi just tweeted to say you have no clue what you are talking about.






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buddhavista
Member since Jul 2012
3543 posts

re: Iranian's discover bitcoin


quote:

already possible


i haven't seen it.

I am intellectually interested in bitcoins but I have no real reason to use them yet. I am not buying drugs or guns on the internet in a high enough volume for me to bother.






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WikiTiger
LSU Fan
Member since Sep 2007
40721 posts

re: Iranian's discover bitcoin


quote:

there are probably all sorts of other little e-based cottage industries that do the same that are also fully legal and OK


Yep.

It's definitely more common in other countries than in the US, though.

WordPress.com just made big news by announcing they will start accepting bitcoins.






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