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Old 03-22-2013, 04:50 PM  
notinmybackyard
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Quote:
Originally Posted by mayabong View Post
Here is some writings from the creator.

Yes, [we will not find a solution to political problems in cryptography,] but we can win a major battle in the arms race and gain a new territory of freedom for several years. Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.

The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.
A generation ago, multi-user time-sharing computer systems had a similar problem. Before strong encryption, users had to rely on password protection to secure their files, placing trust in the system administrator to keep their information private. Privacy could always be overridden by the admin based on his judgment call weighing the principle of privacy against other concerns, or at the behest of his superiors. Then strong encryption became available to the masses, and trust was no longer required. Data could be secured in a way that was physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter what.
It's time we had the same thing for money. With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless.
Fiat dollars are backed by the people. Therefore the problem with the currency and the world in general is we have a generation that have zero skills. All this generation can do is push buttons and pull all kinds of self-justifications out of their asses for their pathetic attempts at pseudo intellectualism on the Internet.

Shit I look at the Occupy mouvement and Anonymous and from the perspective of an old hippie. They are just as pathetic at civil protest as they are at everything else. It is embarrassing when they are compared to my generation.

Because Abbie Hoffman, Emmit Grogan, Timothy Leary, etc. Might have dropped out and doped up but they brought nations to their knees. The occupy mouvement could not even bring hot coffee to the homeless and anonymous only wants to download free movies and games. So again why is the money bad?? Because webkiddies are unskilled narcissistic morons.

In short bitcoins are a scam.

What this generation of webkiddies needs to do is remember W... W... W... G... D...


**** What Would Wavey Gravey Do ? ***
(i steal this idea from popular baptist expression)

Just as he said who everyone should vote for... Wavey Gravey would say that Nobody should have Bitcoins.
Here he is : https://youtube.com/watch?v=foWx42_1Loc


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officially retired as of March 01 2018 but still fucking around and getting into shit.

Last edited by notinmybackyard; 03-22-2013 at 04:56 PM..
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