Re: Gold collapsing. Bitcoin UP.

Cyprus did not cause the April 2013 rally. I don't know why everyone thinks that... Also, Greece isn't going to impact bitcoins price.

correct. I keep pointing it out myself, but people don't listen to reason a lot these days.

Quote from: Patel on February 08, 2015, 03:45:33 PM

I don't know why everyone thinks that...

I do: people like a good simple story.There's a part of the brain that is responsible for making sense of everything (after the fact). It's a lazy bastard.

I'm beginning to suspect human history looks a lot different from what is depicted in history books. Maybe we should start putting stuff into blockchains (or _the_ blockchain) so it can't be changed later... is that what factom is doing, btw?

yes factom is hashing for proof of existence
using the blockchain

doesn't the initial insertion/verification of the factom data into the blockchain introduce a centralized, potentially corruptible, weak point in the system?

regarding the centralized, potentially corruptible, weak point in the system that inserting data into the blockchain presents- this is potentially true if we were to take raw data - however, Factom only inserts a hash into the blockchain, not the data itself.

but the raw data from which the hash is derived can contain corruptible data.

as an example; the mountains of mortgage loan docs. someone can insert a fraudulent doc stating your home reverts to them in 5 yrs w/o your knowledge. no one reads all these docs. this gets hashed and inserted to BC thus memorializing that fact.