I'm a beta tester.

Invested a significant amount of Litecoin

The emunie client even in beta stage is like 5x more advanced than Bitcoin and all altcoin's combined.

When Fursleer tells us he has obsessively worked everyday for the last year on this project it's easy to believe him.

Take a moment and reflect on how many people got scammed by the hundreds of altcoin pump and dumps.

As an investor I am confident in how even after the release Emunie will have a monopoly on a number of
great idea's not even attempted by others, and it will take them many months to even attempt to copy it
and only by the few programmers with experience to do so. You won't see black hat scrypt kiddies with their Sex-munie, BBQ-munie, Feather-munie.
90% of the coins out there is nothing more than a copy paste.

If you think it's your "privilege" to copy the source code, something you are owed, then please go buy a bunch of China or Doge coins.

Honestly, it won't hurt our feelings one bit.

This isn't merely a "better altcoin" but the next step in evolution for digital currencies.

This was actually good news. Obviously they aren't going to dump them onto an exchange (it'd be entertaining to see Mt Gox 'seize' them back.)

A private auction means more than likely a rich businessman will buy them up to reinvest back into the bitcoin economy. Such as a month ago when there was a record number of bitcoin days destroyed as 100,000's of bitcoins traded hands.... and soon afterward Tradefortress had set up a bitcoin ETF.

A few ideas.


DDOSing is a big problem for servers and online games.

Couldn't a blockchain be created where Miners processed website and server traffic? This way you would have a decentralized global server with little upkee. The coins could be to buy service time, is this any  way similiar to namecoin?


Graphical Computations;

All those bad ass GPU's being used to perform math problems seem a little wasteful. How about we use them as rendering farm for game and movie production?
I know when creating HQ render's while mobile, even on my Alienware it could take hours when I'd like to see the results right way.


Server Side Data;

The most recent SimCity (To the extreme offense of it's customers - myself included) decided to make all the in-game calculations from it's servers.
Hosting and runnning servers are expensive and they always go down, major game launches are expected to be laggy and experience shut downs for the first few weeks... or in the case of Diablo 3 for many months.
This could solve that problem entirely.


Could all 3 of these aspects be combined into  single blockchain, or any others that could put the calculations to good use?

There are more attacks than just the 50%+1 attack. Orphaning blocks for instance. Commandeering major mining operations, a virus (like stutnex attacking nuclear facilities), DDOS (NSA has a lot of influence over the main DNS providers.), them figuring out the identity of Satoshi (What is the NSA's job again?) forcing Satoshi to give up his wallet then we'd have the DPR problem but on an even larger scale.


This would be more than "panic selling" where even the loyalist to bitcoin (such as myself) would have to logically realize that getting out of the market would be the smartest thing to do.

As it is right now Bitcoin could not survive ANY of these attacks and so we are relying on the charity of the very organizations whom want to see us go away.

That does not sound like a very good idea.



I'm not suggesting a "Colored Coin Solution" but to alter the block chain so the FBI's coins no longer exist. I'm not sure if this is even possible? But something to consider.

An easier way to "wash coins" is by exchanging bitcoin to an altcoin then back again. Especially a useless one such as Doge that won't be around long.

The tactic of screening (aka colored) to be more of a inconvenience than anything. The person wanting to trade with you will have to check their own coins and send the one's that don't fit your description - in which they will send to someone else thus not taking it out of circulation in the slightest.

It's like vaccinations. Either a whole society chooses to do it, or it don't really work.

I'm not supportive of the colored coin idea at all. It would be on the level of idiotic Government jurisdiction idea's (such as the war on drugs) that manages to cause a whole slew of problems without even slightly acknowledging the original issue in which it was created to fight.


This is the type of responses I'm used to hearing when arguing with "Fiscal Conservative Christians" in Texas who, failing to provide an intelligent response to my position, tells me to "Go learn History/Economics/Whatever first" in which I almost am certainly better studied in the subject than they are,  hence why I was able to present a position that had substance while they were limited to an emotional outburst.


I agree, it will also be a good thing when the original miners (such as Satoshi himself) finally use at least some of their coins, which will have the result of better distrubting the wealth to the masses allowing it to function much more like a currency than a commodity. But here is the difference;

Satoshi and the original miners have an invested interest (even if it where only based on greed) to do so in a constructive fashion, such as starting an ETF like TradeFortress had done.

While the Fed's (and their Masters) have every reason to bring down bitcoin, while their own financial gain by holding these coins are trivial. That is an important distinction to make. Even if the market isn't destroyed it could set us back by years. 

"Is the community going to take back bitcoins every time it doesn't like someone? "

There are only a couple of activities that would cause the entire community (we aren't just referring to bitcointalk here) A major hack resulting in funds being stolen, Government/bank interference, a centralized Minning pool carelessly (or aggressively hostile) takeover of the market.

It's not like you'd have to keep popularity with the Dev's otherwise they can blackmail you. I'm not suggesting the community give them that kind of power but I think that will be how a lot of people interpret it.



DPR did a lot of stupid things that he could of avoided. How the hell are there so many people who get rich overnight seem to forget even the basics of common sense?

I'm not worried about him getting his coins back but now we have to wonder what the US Government is going to use those coins for, and you know it's going to be soon.

As a decentralized currency Bitcoin has proven itself to function well with the "If the majority feels a change should be made" then it can, and promptly like with the double spend bug a few years ago that required miners to adopt a new fork. This is an excellent advantage as it can be adaptable but not easily manipulated.

I believe we, the Community, Miners, and Dev's should use the power again, this time to remove the seized coins as they represent a huge threat. Investors all over the world are asking "when are these going to hit the market, and in what way?"

There is not a single advantage that any of us to gain by this situation and should be held to the same standards of a thief or hacker.



    The Fed's stole those coins.

They are enemies to our community, likely planning to dump onto the market to cause a flash crash. They could wait for a natural correction to happen, or other bad news to make the effect be
especially catastrophic.
 
Highly undesirable for the United States Government to be 1.5% shareholders.

It would be different if they purchased these coins or earned them. I wouldn't recommend us invalidating coins with impunity, whether it be US Government, China, North Korea, or even Bank Of America
but if the coins are stolen with no chance to be given back to the original owner, then why not?

We could also do this with Hackers who use massive botchains that generate 1 Million or more, or hacking online wallets. This has damaged many Exchanges and Businesses that had to shut down, could not pay
back the users, which left a scar on the Community. The kind that only heals slowly with time, and many of those burned; their families, friends, and associates will never come back to us.

Could you imagine the kind of positive PR that would create, to be able to pay back the victims of many of those incidents? People who's bitcoin's are now worth hundred's of thousands of dollars who thought they
were completely left out in the cold? The amount of risk and hesitation mitigated by the fact that large scale hacking operations would always be doomed to fail?

Major Companies get hacked all the time and tens of millions of credit cards/ financial data are stolen. These large scale operations make up the majority and are ran by a select few who possess high levels of skill and connections to other professionals, as most script kiddies with generic trojans are able to do more than spy on your cam and screw with your computer. Out of those tens of millions they are only able to profit at a very small fraction of what they have stolen, but with bitcoin companies and users, they get 100% of it, and it is gone. Just like that.

We could also create a system that blocks entities that put the network at risk for 50% + 1 attacks. The US Government (or the myriad of other entities who have both the money and will to make it happen) create's a warehouse of super computers that is rapidly dominating the network with the force to destroy it? Deny them access to the blockchain. Even that Gash.IO could for all we know be funded by a hostile operator with full intentions to bring down the blockchain. If it can be done so easily then what about next year when Bitcoin is a major force in the financial world and currencies/long ago established financial institutions become desperate? It's practically a certainty that they will strike.  Having a strong hashing power only protects us from hackers and small organizations - it will never be able to protect us from major Governments. They built two data storage facilities the size of A CITY in the desert just to spy on people. Imagine what they could do by with cutting edge ASIC technology and unlimited funding. Even 10 years from now and mainstream adoption it would be TRIVIAL for them to create this attack. They wouldn't even need to develop it, just physically assault some of the larger ASIC hashing farms and other attacks are possible. Mine to increase the difficulty then suddenly turn them off, targetting the most popular alt coins. Now a single transaction takes 3-5 hours to clear. Do this repeatedly so it becomes the norm and the currency is practically unusable.

I know 99% of users hate the ideas of regulation, centralization, and authoritarian movements such as this one but remember what is actually at stake here.

If they had dumped those coins during the Chinese panic it likely would of destroyed Bitcoin forever.

And they have EVERY reason to benefit by doing so. The only thing stopping the FED's is how they can't use those wallets until the trial is over.

I've made some decent money playing the markets winning more than I lose but honestly isn't the best way to spend one's time.


It would be better to invest in some kind of business or skill that earns bitcoin and other alt coins. The demand is HUGE for anyone who wants to step into the game. Your looking at much more stable returns and don't have to find yourself in the unpleasant situation of "betting against the success of bitcoin" selling at the top and praying the price goes down at the desired buy-in price.

Any 12 year old with some basic HTML skills could run a business in digital coins right now. Assuming they aren't already running a botnet from my gaming computer. Persistent Little *#$#@ aren't they?

Perhaps diversify more widely for protection from flash crashes and unforseen growths of other assets.

This is a good time to buy crypto as the last price correction has already hit and now we are seeing sideway movement so the chances of you "buying at the top" is unlikely.

Litecoin has a lot of potential and has finally secured it's own independent payment processor(Something we've desperately needed for a long time now),
along with exchanges promising to pick it up soon(Coinbase, BTChina primarily) ... and technically MtGox - but F#$ them.

Would recommend against NXT. Most of the promised features have not made it in and the coins are too centralized in a mere 40 people who all know each other before it's launch.(As in 90% of the coins. Even worse than Bitcoin had during it's launch. There's no excuse for it now.)

Emunies on the other hand already has all the features, plus more, and as a Beta tester I can say it will be released fully functional. The coins are spread out widely amongst
the user base. The Dev is also a well known Google Engineer who has shown himself to be competent for the position. But that's just my biased opinion.

Protoshares are interesting as implanting some unique ideas not done in any other ult. This is a great time to buy as the value is down due to Angelshares absorbing a lot of the new money but that will change shortly.

CryptogenicBullion has not yet delivered their promise but is developing a blockchain to act as a database storage / function as a legal contract framework. Another unique idea not tried by anyone else. The value is very low as the MADEsparq Project is still in development but if the Dev releases it properly I see a game changing digital currency in the near future.

You should also consider some precious metals like Gold and Silver. It is generally agreed that the market has finally bottomed out and the slightest economic tremble from the US (such as when it is revealed that QE won't/can't be stopped) the value of digital currencies and precious metals will be sent into the stratosphere. Especially Silver.

It also gives you something shiny to play with when you are checking currency price charts and responding to the trolls that "bitcoin has no value".

The last 4 years has been the "Alpha", now we are in the Beta.

Bitcoin won't know it's true value until you can spend it virtually everywhere, on every continent, in every country, including person to person transactions using cellphones and ATM machines. By the end of 2014 we may then be in the mainstream phase, and having to watch out for the real speculative bubble.

I'm thinking $7,000-10,000 per btc.

If it survives the next wave then who knows, $100,000 or more.

This is in the rhealm of possibility but by that point there will be heavy competition. At the momeny alt coins are a joke but the "2nd Generation" is showing some promise. Nxt tried but was more of a scam than anything, Protoshares a great idea that is showing some promise, CGB is a very unique idea that has yet to be fully released, and as a beta tester of Emunies, looks like a combination of all these things and is about to blow the top off when it get's released. It's going to rock the boat and unlike other alts not feed off of bitcoin's success but draw in crowds independently.

Just in case I got up and turned on the lightswitch - it worked.
Then turned on my TV - that worked too.
If I get sick I'll go see it a doctor, chances are the anti-bacterial medicine they give me is going to work too.

If we can't trust science, where should we put that trust instead that has a better record?

Since science is merely the observable reality then I guess... Superstition?


The thing that I really like about science is that you don't have to "believe in it" for it to work, it just does.

Talking a store front owner into accepting bitcoin is one thing.

Talking them into purchasing a $2,000 point of sale device is another matter.

Seems like they could just sign up with a bitpay account, or various other online services where customer can scan QR code to automatically pay?

These apps are for Android and other smartphones. Simple, Convenient, and Free.

"Capitalism about freedom.  The true test for people is if they support freedom or they support force.  Capitalism (not crony-capitalism) is voluntary. "

This argument is the same as Christians, Communists, Marxists, and even Fascists all use to justify their group. You wash your hands clean by claiming all negative attributes of the ideology "aren't REALLY us, it was our idea being twisted."

Can somebody point to any period in human history where "Free Trade Capitalism" existed without a heavy reliance on slavery, child labor, mass inequality?

None? That tells me all I need to know about Capitalism where you must have a winner and loser.

When the winner no longer has any competition their next step is to manipulate the society so future competitors can no longer challenge them. This is when it becomes "Crony".

What about when your born into a rich family that owns the Government, the police, the maffia, and the businesses. You get the social connections, the best schools, private trainers, and wealth while I am
born into a family of poverty with a worthless school and none of the above so that I can go to work in one of your factories.

Technically "it's volunteer" but not really.


There are flaws with all of these Government systems. No good solution has been found.

Consider them in terms of "Generations". First of all 85% of all new coins out there are clones. Those are easy to dismiss based on how they are merely carbon copies of bitcoin/litecoin, only mess around with "transaction speed times", reward sizes, lottery blocks, etc - all gimmicks. Or the newer Doge coins/kat coins that try to play on memes.

Bitcoin and litecoin was first generation that uses a blockchain and wasted miner hash rates relying on hardware and electricity costs.

the 2nd generation are more like protoshares, nxt, emunies which have a far more complex wallet with built in exchanges, no "proof of work", instant transaction times, and a myriad of other features never seen before in the crypto world.

I personally recommend Emunies which is going to blow all other coins out of the water. It will be released here in a couple of weeks and was designed by the lead engineer at Google. I'm a beta tester and the wallet itself is amazing. Chat features, centralized identity with reputation, completely anonymous transactions, system is slightly inflation, system creates more emu's not on a set curve but based on demand for price stability so it can actually function as a currency, all the while not being under any centralized control as this is all done automatically.

Much easier to make ROI mining litecoin and the newer Scrypt coins. There will be no more SHA-512 so those miners are doomed to become obsolete where litecoin on the other hand even when ASIC's do get released 6 months from now they will not nearly have the power advantage of GPU's.

GDDR6 GPU's are going to be released here in a few months. The only advantage those ASIC's will have is a 50% reduction in power costs but the GDDR6's will have nearly a 4-5 month head start and can be resold as gaming hardware.

https://www.coinkite.com/

Looks exciting and kudo's for including litecoin. I'd hope that the terminals can easily be modded to accept any crypto currency, but really what can these do that a APP on a smartphone couldn't?

The price tag I believe was around $2,000 per machine. That's going to be a lot harder to convince small business owners of shelling out for, in comparison to the app's that are free and convienent
because after all everybody owns a smartphone. Merchants and customers included.

Being in digital currencies for the last couple of years now it's made me some really good profits. I'd like to take that money and do something with it that would help further our goals in merchant infastructure and mass adoption. My wife and I live in Thailand where there are no real regulations but more simply, who you know, and due to my wife's connections we probably know the right people to get things off the ground.

She's got a big circle of friends, ex coworkers, bosses, and family who are interested  but don't know how to buy bitcoins or how to keep them safe. More people yet who might be interested but don't know anything about it except on TV. I'd like to set up a website with a manual exchange where it sends me alerts of people wanting to buy and sell, and I can fulfill the transaction from my smartphone, while also handling these transactions in person with the people who are interested.

Then design some physical coins out of Pyrite (Gold is very popular here) with the Bitcoin logo on the front, a QR code on the back with $1.50 worth of BTC. And maybe Litecoin that is 1/4th the size. Contact shops in the area and help them figure out the Andriod App that lets you recieve bitcoins. And have a information packet (converted to thai.) which also has the name of our website.

Now the average people will be informed, have bitcoin, and have a local place to send it.

From here assuming this is successful, we can contact some of the wealthier people we know and ask for investments.

I've only got $20,000 in funds as of this time. That's more than enough to do the manual exchange + inform the public idea, but far short of being able to purchase 5 Robocoin machines, modifying them to also accept litecoin and eventually emunies, set each up in the 4 major malls, and 1 in the Airport.

Set up a fully automatic exchange geared toward's Thai and Philippine users.

Then spend the rest of my time interesting business owners and investors to jump onto the Digital currency bandwagon, other online businesses who currently have to rely on prepaid cards, and maybe aim to get some politians onboard as share holders who might otherwise be tempted to support the traditional banks when digital currencies become big.