Quote from: sockpuppet1 on May 15, 2016, 11:39:10 AM

Quote from: r0ach on May 15, 2016, 10:41:01 AM

Quote from: sockpuppet1 on May 15, 2016, 10:21:07 AM

Quote from: smooth on May 15, 2016, 09:31:04 AM

Quote from: sockpuppet1 on May 15, 2016, 08:42:02 AM

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Quote from: trollercoaster on May 15, 2016, 07:19:03 AM

I think Armstrong will end up being correct about bitcoin (not surviving the other side of 2020) let's see.. Cheesy

It is not clear if it will destroyed or merely turned into a tool to confiscate wealth, and a better Paypal for the masses. My bet is the totalitarian variant of the future. Click the link above to find out why. Men need a tyrant.

I very much doubt it becomes a "better" Paypal for the masses for the simple reason that it isn't better.

I would be bet on failure over widespread usage of a coopted system. In fact I'd lay significant odds on that bet. (Though failure is somewhat difficult to define precisely -- let's say significant loss of value and usage.)

I see even an oligarchy controlled Bitcoin as better than Paypal, because:

1. Bitcoin is a global politik; and thus even the Chinese mining oligarchy (cum banksters pulling the strings behind the curtain) can't do anything which isn't politically correct globally.

2. Thus Bitcoin will retain many attributes that Paypal as a corporate offering can't provide such as inability to deny any person in any account equal opportunity to access, inability to enforce holdbacks, block certain industries, and other arbitrary shit Paypal does which make my head want to explode. Bitcoin is a trojan horse launched by the global elite to subvert any localized attempt to block/control the shift to digital currency.

3. Thus I predict enormous adoption for Bitcoin, but just remember it will be owned and controlled by the global elite (aka the banksters). And the global socialism will enforce a global confiscation/expropriation of those with wealth, in the coming years. It will be a bittersweet success.

It's pretty evident from the establishment embracing Bitcoin and things like this CME news, that TPTB will use Bitcoin as a golden parachute to escape the death trap fiat system they created. They know it's extremely hard to do business using gold, and you would need to implode civilization back to the dark ages to make gold work again, so Bitcoin is their go to play to keep the wheels turning at an above caveman level.

Ever since humans stopped being hunter gatherers and settled land, it created abundance. That's when the predator class arose to skim the abundance. It's in TPTB' best interests to keep a high level of civilization running in order to skim it instead of having civilization implode back to ancient Babylon. That would likely just implode their own standard of living as well once the caviar supply lines run out.

Yes, they create catastrophes to benefit from them, but I don't think they want ones so big that they become completely unpredictable and threaten their own power structure. They always have some type of golden parachutes in mind, and Bitcoin is seemingly the only viable thing around for digital transactions in the coming great reset. The world supply lines are very intertwined, and if you cannot do digital transactions on an international level because nobody trusts any of the currencies, then you immediately go back to the 1800's. Do TPTB want to live in the 1800's? Probably not. They have to devise something to keep the wheels of the world turning.

Agreed, but they didn't create Bitcoin as the primary escape hatch from fiat collapse (which will instead be the one world currency reserve unit basket), but rather because they want to subvert any one nation's control over the digitalization of currency. They don't want a bastardized fragmentation of the digitalized commerce world. That is all good. The bad part is they control the global politik, and thus they control Bitcoin. They can easily incorporate capital controls and expropriation into the politics of regulation of Bitcoin and then they can easily implement it since they are funding and arranging the Chinese mining cartel and Blockstream's $74 million funding.

I reckon the global elite do not care how they reach their goal, as long as they can attain the following goals:

1. The result achieved can't be controlled by any nation and can be controlled by them through their control over the global politik and their control over fiat banking.

2. It scales.

3. It is a traceable block chain so they can institute their planned Technocracy (smart meters, digging tagging of humans like chattel, etc).

LN is flawed in that it doesn't really scale ideally. It is fraught with technical complexity and likely to have serious corner cases and failure modes. Centralization is a failure mode and surely the global elite must understand this.

Thus I think the ability to provide what the global elite want, will be a very, very successful and profitable project.

I remain committed to my design which I think better fulfils their (and our!) goals.

None of us are going to stop the world from enslaving itself. Sorry. Impossible delusions are a waste of my life.

My best hope is that I can provide a way for the system to be more decentralized.

Anonymity well I tried. It is rather impractical to try to hide from the NSA but let's see what Zcash and Monero end up with. Privacy is important, so that is what they are really vying for, not anonymous and not hiding from the global elite. The viewkey aspect is going to be crucial.