https://bitcointalk.org/index.php?topic=316297.msg5402853#msg5402853

Quote from: AnonyMint on February 27, 2014, 10:08:48 AM

I hope this post finally makes it go "Bingo!" in your minds.

Quote from: FenixRD on February 26, 2014, 09:47:40 PM

The real reason I don't worry too much about Bitcoin the brand, is because the tech is there. Decentralize all the things. Trustless money, trustless contracts, trustless, decentralized, disintermediated *everything*.

Unfortunately Bitcoin doesn't do any of those things.

Mining and exchanges are already highly centralized.

We can see with the Mt.Gox outcome that the coin supply is shrinking and centralized into ownership by probably some head of the same "DEEP STATE" monster that controls the NSA (very reputable Bill Moyers interview at the linked post).

Bitcoin can't even handle real-time transactions so then we need VISA (Mastercoin) again and we are right back to centralization.

And trustless contracts are opcodes that the centralized developers have to enable one-by-one and most haven't been turned on.

https://bitcointalk.org/index.php?topic=490073.msg5401309#msg5401309

Quote from: PlayerAuctions on February 27, 2014, 08:07:08 AM

Hey all,

Posted just a few hours ago at The Hub. Jaws dropped when we received this for publication.

Article here: http://hub.playerauctions.com/bitcoin-mtgox-ryanstraus/

Content:
The Mt. Gox situation is troublesome for the bitcoin industry as it exists today. However, the situation presents a bigger problem for the bitcoin industry than it does for bitcoin itself. After all, this story is not about the squandering of trust by one party or the need to restore the communitys trust in other parties. Rather, this story is about the continued bastardization of Bitcoin through the injection of the question of trust into a protocol that was designed to function without it.

...

Quote from: FenixRD on February 26, 2014, 09:47:40 PM

If Bitcoin becomes NWOCoin (or whatever) we will still create our own future with other options. Oppression won't work. By 2030 or whenever, if a 1WG is being made, and it seems to be an oppressive one, people will leave this rock behind, too.

We can't just expect those options to happen. We must actually make them happen.

50% of the population is not ready for the disruption of decentralization, as they will be unemployed (as predicted by Oxford that 47% will be replaced by computer automation). Thus a majority of the society will fighting for centralization and "we are the 99%, take it from the 1%" with Obama, Merkel, Hollande, etc leading the charge! Remember Obama said, "you didn't earn that without the government and society".

Quote from: AnonyMint on February 27, 2014, 08:35:59 AM

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Google "life of the nobility in 1800s England" for example. The social structure had places for all, and this is being reintroduced. Any breach means [you lose your job].

A rich person without cooks and lawn keepers is the oddity, it's normal to have them.

You picked the wrong time period. Try again from 500 A.D. for about 600 years hence. The nobility had to live in heavily guarded castles to fend off the Robin Hoods.

That model works well after the chaos of the debt implosion when the social order can restabilize.

The problem right now is most of the population will be rendered unemployable, because there won't be enough rich to provide enough jobs for maids. And the computer automation will render the rest unemployed. Look at this for visual proof of what is coming at McDonalds (100% automation)!

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Your IQ is too high to understand these things of simple life, you are 100% focused in your abstract concepts.

Somewhat true at times, but actually I lived in the Philippines during the Asian Crisis and saw what really happens during economic implosions. Even my eye was gouged out by one of those pissed off jobless. I saw kidnapping every where, even I had to be careful when driving my car outside the city boundary.

Quote from: FenixRD on February 26, 2014, 09:47:40 PM

The fascists and the immoral will always lag behind. While the real world isn't a Disney film, and there are no good guys or bad guys, just people that are mixtures of both to varying degrees... the world *is* like a Disney film in that, in the end, the good(er) guys win. There's nothing man can do that either surprises me, or makes me afraid. As I watch the slow triumph of good actors, though, I do occasionally get twinges of excitement.

During debt collapse, they can do a lot of damage before they are wiped out. You have grown up in period of no chaos and world war, because we were borrowing $150 trillion to keep everyone appeased.

Now you will learn about reality. The history you refuse to believe existed or you don't think can ever happen again. You will learn the hard way I guess.

Quote from: FenixRD on February 26, 2014, 09:47:40 PM

My own mother, a devout Baptist, had the initial concern that Bitcoin will be part of the end-of-the-world regime prophesied in Revelations. I don't believe in that kind of thing, but my answer is the same regardless. If somehow, in a way I cannot immediately foresee, Bitcoin is appropriated by bad actors and becomes the thing she fears, it won't be by us; free men will trade whatever they please. We'll use another cryptocurrency, or several; a zerocoin or an anoncoin or whatever we need to be free. For now, Bitcoin looks like a good option. That can change, and so can the users. In the meantime, even assuming that outcome, a controlled Bitcoin is probably still freer and fairer and more transparent to all participants, than the existing system. So it's progress either way.

My mother now saves using Bitcoin, btw.

We have to actually make the better Bitcoin. It won't just come by being closed-minded to the reality at-hand.

Quote from: User705 on February 27, 2014, 03:43:33 AM

Quote from: AnonyMint on February 26, 2014, 04:57:48 PM

There is no way BTC goes to $1 million such that the holders of 100+ BTC go to $100 millionaires and maintain control over their wealth.

Society controls large wealth. This is why large wealth colludes to control government. Thus if that $1 million/BTC comes true, you BTC100 holders either become corrupt (join in the capture of the government) or you give up control of your wealth to the socialism.

Thus the goal of a more anonymous altcoin (since Bitcoin isn't anonymous at all) is not to make large holders anonymous, rather to make the small and medium holders anonymous. And thus large holders also can keep a small portion anonymous. This is their diversification, get of tax hell plan.

Had the same mistaken belief a while ago. Then saw how quickly most large holders were spending coins when price broke $1000 on all kinds of stuff. Manors, Gold, Lambos. If you own 100 XBT and the price becomes 100,000 per XBT you will not be holding it all in the hopes of $1million. You will sell.

My point is that the society will be dysfunctional due to debt collapse contagion with 50% technological unemployment. Thus being wealthy will mean the larger wealthy eat the smaller wealthy by employing the "99% versus 1%" political uprising.

Let's say I am wrong. Have you hedged just in case I am correct? Gold buried in the ground to collapse the velocity of money to help intensify a Dark Age?

How about an anonymous altcoin with superior features for decentralized everything in order to increase the velocity of money inspite of he dysfunctional social collapse?