Post
Topic
Board Bitcoin Discussion
Re: "Failure to Understand Bitcoin Could Cost Investors Billions" (Bitcoin's flaws)
by
AnonyMint
on 13/02/2014, 12:14:46 UTC
Do you have any idea how exhausting it is to deal with these sort of posts that are not focused on technical facts? Your intentions may or may not be a sincere attempt to raise the point about the way sheep Bitards (don't) think or it may also be a propaganda ploy.

I come from the world of programming and working with enthused co-developers where we spend our time being happy and enjoying our work. Slogging through discussion on this forum really challenges my peace-of-mind and patience. I will relish the day after which I no longer need to speak or write about this.

Hi again, AnonyMint.

I'd like to reiterate that scattershot is weak strategy: people see the weakest arguments among your volley (51% attack, selfish mining) and assume (rightly or wrongly) that you're in the business of building paper tigers.

There is a much easier way for the government to take over Bitcoin than 51% attack and selfish mining. Simply tax the coin and per footnote [2] all coin is tainted regardless if you used Tor or not, so in effect regulate every pool and exchange. Regulation can accomplish much of the same goals as takeover. Then later (ramp up the regulation to drive the independents bankrupt and) the large corporations beholden to the government buyout the pools and exchanges, and then the drift towards cartels and corporate-fascism.

The lack of a feature in Bitcoin to limit the concentration of mining in a few large pools is an egregious flaw. But this was planned from the beginning as Satoshi predicted takeover of mining by large corporates and the core developers also reiterated that in this forum in the past. It is not very hard to gain a picture that Bitcoin was planned from the outset to not be a hacker-like decentralized internet paradigm but rather a mainstream integration into the taxaholic socialism. I used to target my business to that paradigm too. The problem with that socialism is peaking and heading for the cancer death syndrome where it taxes itself to death. We are no longer in 1999, and now is it 2014.

It is very simple. When the governments start confiscating nearly all of the wealth especially targeting millionaires, people will decide they need anonymity. I don't have to convince anybody of anything. Some of those with significant net worth will run scared from Bitcoin.

Those who have big gains in Bitcoin, will instead perhaps comply with the government and give up most of their gains (to tax + confiscation) in return for a nice profit (e.g. give up 90% of the gains and still have 10 bagger).

Yet the easiest marketing advantage is cpu-only mining. There is really nothing that needs to be said. People will mine cpu-only especially the mining client is very easy to run!  Wink Now all the Bitards get off my fucking lawn. You are dealing now with real commercial programmers who have experience in making popular commercial software. All of the underhanded propaganda tactics I am seeing from fanboys are not going to work in this case. You can see the vote on the poll can't you.

P.S. the Bitards who want to think they are smart, much better they miss out on early mining opportunity. Perfect. I hope I read their never ending excuses about security of Java, etc.. Meanwhile the people of the world will be chugging along mining and mining, since the opportunity for the average person to download a client and instantly mine Bitcoin with their PC went "poof its gone".