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Distancevector protocols use what algorithm is bitcoin
If I were Mencius, I'd make that bet today charts on the current price on MtGox as, "Mencius agrees to pay anonymous In short the champ tends to stay the champ unless equilibrium gets really far out of whack. Mencius, It will be easier for your readers to respond to specific comments if you enable threaded comments.
No central server bitcoin needed, everyone keeps a copy which moldbug ok since disk mencius is cheap, but possess tractable scalability problems if it catches on.
They are bitcoin useful for tax avoidance: Please note that the minimum fee for such mencius is 0. I'm neither a "bear", nor charts "bull", agnostic on whether it moldbug rise or fall in value over that time. Redneck brain dead yank January 23, at 8: Moreover, Bureau Member's are encouraged to utilize self-posting permissions to spark discussions on detailed issues.
There's a feedback loop here, because listed prices are in the used monetary unit. Bitcoin's greatest strength and primary purpose is being bulletproof against attempts at shutdown and censorship, prioritizing that above anonymity which is why you should use Tor and a separate wallet for shady transactions. Thus, when people buy more stuff, prices go up. But if it's a non-controversial issue with bipartisan support, such as Charts, then their secretary may pass your advice on to his or her boss.
First, how do I know anything? The best way for the US government to kill bit coins would be to trash the market place by using its massive purse The Bitcoin economic ecosystem is 1 moldbug, and 2 not exclusive.
Indeed, if we all traded in our dollars and dollar assets, and mencius restandardized the global monetary charts on BTC technically a far superior designit's quite possible moldbug Satoshi Nakamoto himself would mencius emerge bitcoin our new global overlord. Bitcoin store of value: Submit a new link. Hero Member Offline Activity: I generally like Mencius' blog, but he's dead wrong here. I think he's just trolling for pageviews.
No prohibition in all of history has driven the price of the prohibited item to zero. I feel slimy just by clicking on that link, euchh. Monetary Freedom - an inalienable right Per aspera ad astra. Now updated to v0. Should the Bitcoin Foundation be moved to Switzerland? I stopped reading here: What evidence is there? Do I have a suspicion that there are shady characters that use bitcoin to further their own criminal interests?
But that happens everytime I invest in the stock market here, too. This is definitely the worse case scenario. Just look at poker's Black Friday or megaupload's fate. But there are key differences here. Bitcoin is not even close to as popular as online poker or megaupload. Megaupload had a single point of failure versus having multiple bitcoin exchanges.
Online poker may be cut off in the US, but it isn't cut off in other countries. You can also explore the Bitcoin Wiki: Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy.
News articles that do not contain the word "Bitcoin" are usually off-topic. This subreddit is not about general financial news. Submissions that are mostly about some other cryptocurrency belong elsewhere.
Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. No referral links in submissions. No compilations of free Bitcoin sites. Trades should usually not be advertised here.
New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted.
Aside from new merchant announcements, those interested in advertising to our audience should consider Reddit's self-serve advertising system. Do not post your Bitcoin address unless someone explicitly asks you to.
Be aware that Twitter, etc. So people shouldn't use Bitcoin thinking that they're automatically got anonymity - they don't, and that false sense of security can be very dangerous.
I don't think that that is made immediately clear to Joe User. I'm interested in computer security, privacy, and anonymity, and it wasn't until I'd read through a paper and spoken to a Bitcoin guru in person about how to mask traffic analysis on transactions that I felt that I had a basic understanding of what was going on; the Bitcoin FAQ does not cover this.
In fact, generally-speaking, I think that Bitcoin's main page would benefit from a better "what are the benefits of Bitcoin" that could be read by Joe User.
I played around with Freenet for a while, and there seemed to be a lot of ways users would leak identity information. People don't think about the kind of data-mining or analysis that can be done on them. There's a real failure in user education with Bitcoin right now, and it's the kind of technology where a lack of understanding can be a really big deal.
I'm not sure what exactly you could do to automate "anonymous bitcoin", but I bet there is a market for an anonymous client that always uses Tor, takes a bunch of steps to ensure no data gets leaked, etc.
But of course, the weak link is always going to be the fleshy one at the keyboard - there's no system so secure that it can't be sabotaged from the inside by one person who doesn't know better.
I don't know the specifics of the Silk Road but presumably they have physical servers somewhere. They can be seized. Or they begin using the Silk Road to host undercover officers and bust everyone who buys.
That would be a pretty powerful disincentive. This could work but would require a lot of effort. What would most-likely happen if Silk Road became tainted is that the Tor drug network would simply fragment into smaller sites, perhaps run by individual merchants who build up trust.
Similarly to the real world, you can drive up the price of drugs but killing the market seems like a tall order.. But I'm also a bit unsure how well "bust the end user" would work, honestly. The weakness in the Silk Road network is that eventually the drugs need to be picked up by a real human being. And you can bust that guy, but he does have an excuse that may create reasonable doubt - "I had no idea what's in this package, officer. The silk road is ready to reconnect from a different server at any time as well, after down time earlier this year.
This is all speculation by the community as the admins are very secretive. A better strategy would be to identify the admins some how The website reputation system reduces the risk of under cover agents. Users who skillfully use mailing laws to their benefit you're not liable for packages mailed to you, because it could be in error take proper precautions when securing bit coins, and use public terminals for their bit coin exchanges one can effectively dodge risk.
There's been a war on drugs for how long? And how effective as it been? Any economist will tell you that you simply can't wage a war against a free market, illegal or otherwise.
Moreover, the actual ease of theft isn't as important as the lack of deposit insurance. The consequences of a bitcoin theft are so much greater. What you are describing are the faults of the institutions that use bitcoin, not the fault of the bitcoin protocol itself. If a bank leaves their account information out in the open where anyone can see it, and their accounts get wiped out, that is not a fault of the US dollar; it's a fault of that specific bank.
Moreover, the fault of one institution to secure their holdings does not imply that other institutions must also lack security. If my neighbor leaves his wallet sitting on his doorstep, while I leave my wallet locked in a safe, it would be wrong to say that "all wallets are easy to steal" when in fact it's just that "my neighbor makes his wallet easy to steal".
Deposit insurance is something that is not built into US dollars themselves. It is added on top of dollars by financial institutions. There is nothing other than the immaturity of the bitcoin-denominated financial industry preventing financial institutions from implementing deposit insurance for bitcoin accounts.
But how does that not apply to any other currency? The implication seems to be that it will somehow crash for some unknown reason when in fact these are just free market forces at work. They are also useful for tax avoidance: Isn't that only true if there's a substantial bitcoin economy? Otherwise you'll get taxed normally on transfers from USD to Bitcoins.
One of the major flaws in this theory is that the federal government is even genuinely opposed to money laundering. Sure it's illegal, but it is common knowledge that many laws are flawed and in a democracy it's normal for them to change over time so there is a lot of grey area. That grey area provides opportunities for federal agencies. When it's convenient it can also be clamped down on.
But what would be convenient about closing Silk Road? Isn't it even more convenient to monitor it and keep track of the information for future use? Simply shutting it down is far too direct. It's provides a wealth of interesting and useful information no doubt. Let's be realistic here, one of the items that people used to go to Silk Road to obtain, marijuana, is now legal in two states and soon to be legal in many more.
The drug war is a loser's game. Why would the feds even bother getting involved?