Post
Topic
Board Bitcoin Discussion
Re: What is the 'purpose' and 'nature' of Bitcoin? Some questions.
by
jdbtracker
on 30/11/2016, 13:22:52 UTC
 Well, I was waiting for someone else to say something else... since there is no one else... I'll speak my last bit.

 Money can be extremely malleable it can be modified in ways you cannot even begin to imagine.
Think of the value transition that occurs in currency exchange, what if that occurred at a smaller scale.
Say you received instant discounts or penalties depending on where you were, who you did business with automatically?
Your money evaluated differently by a myriad of factors.

 about your question is Bitcoin a mining simulator? Yes, yes it is.

 Every parameter in bitcoin is meant to have malleability, to change as necessary, to adapt.
What happens in the real world when a few individuals begin to accumulate more power than others?
So far it hasn't done much, these miners are running a service for us, if they stop delivering a bang on service... there are others in the wings to take their place.

 Everyone that chose to use Bitcoin had a choice in the mining, they could mine for themselves, they could become part of a mining pool... and they could have gone for the 100% solution if they wanted too. A few small changes to the code and every node would be linked across the network, delivering a reward to all participants for their time, efforts and access to resources. More and more the abstraction you speak of is happening, everyone works for themselves, but more and more that necessary work is being, centralized, delegated to automation, forfeiting that reward, is this right?

 But is this the choice that The People want?

 Everyone was given the choice from the beginning, Bitcoin was founded on innovation, that is why it is Opensource, so anyone can change the code and make it their own, and if it is a better solution then it will be successful.
 People have been doing amazing things for Bitcoin from the beginning; Modifying the mining algorithms, the development of ASICs, the businesses... People built this, and there were a few cynical rotten apples in the beginning, but we are learning, adapting, changing with Bitcoin with every change everyone makes.
 People can choose to advance the ideas we are developing, change the transaction cap 2mb, 8mb, 32mb? sure; Develop better Cryptography instead? Why not? Use better compression algorithms? yeah. Nothing is supposed to be set in stone, but that still has to be tempered with the fact that this is our value system, is it perfect?

 Can Bitcoin help people in Sub-Saharan Africa? Yes it can, it gives people the opportunity to invest in them to bring them into the fold, those are our customers! why should we not setup infrastructure for them so they can participate? Why can't we go to off chain transactions? develop that too. Paper wallets? Bitcoin intermediaries? yeah, anyone could have just started a over the phone system with Bitcoin and act as an escrow... that's all that Mpesa is... it's Bitcoin, but with a phone layer added on top.

 The solutions that have been created are amazing, why hasn't someone just used OpenTransactions to mediate off-chain transactions with people who only have access to a smart phone? they can be bought for only $25 at any outlet in the developing world. Sub-Saharan Africa?   no access to electricity? Pre-denominated paper and instantly verifiable notes and objects to be exchanged cash style, this could have been done ages ago with a 3d printer, encoding the data into an intricate design, that will always belong to that object, when it is gone, it will effectively have been burned forever off the blockchain. there are  2.1 quadrillion coins... it can be done, I can imagine one day people will find these objects and realize their unfathomable value, what is 60k Satoshis, could be worth millions tomorrow.

 So how can we help these people?

 How can we modify the concept of money to suit our needs? Are there value transformations that should be done in currency?

 What information should we pin to the blockchain?

 How should we best program automated programs to interact with the Blockchain?

 Should we go for the 100% solution and make sure that every active user received a dividend for the over all activity of Bitcoin?

 We could go crazy on the modifications... automate money even more! Only have a certain income? your value is doubled automatically.
Sending small amounts? free transactions. Doing a lot of Business? here's a bonus. There is a lot we can do... I want to hear your suggestions Hugo... Where do we start?