Who Is Satoshi Nakamoto?

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Ahh Bitcoin, it has just hit 1200. Several years ago I was really interested in doing market making for Bitcoin but was so overwhelmed with work I never quite got to it. I've should have just quit my job! Ted speculates who he might be. What's even more interesting is Satoshi an Aspie??

[youtube]http://www.youtube.com/watch?v=rXUFD5cUpGk[/youtube]

[youtube]http://www.youtube.com/watch?v=5XF7wd_Mfjk[/youtube]

If anyone with a ton of bitcoins wants to support WrongPlanet, you can send them to my bitcoin wallet here:

158g8vSXqKhhKBMjagj4ftb9e97NU9NgaR

The price is still too unstable to be an decent form of currency, it's more like a commodity right now.
There's also a bit of a learning curve with using bitcoin. Especially now being so valuable, it's a greater target for internet thieves, one has to become much more digital security minded. And if it does become threatening to central banks, they could take actions to undermine confidence in Bitcoin either by having legislation passed to make things more difficult, or pay hackers under the table to cause problems. I'm just speculating about that, but think about it, the central banks enjoy a lot of power and influence in this world, something de-centralized like Bitcoin getting widely popular would threaten that, especially if people started using Bitcoin in a pure sense, directly exchanging for products and services, with no centralized fiat currencies involved. They would not take that lying down.

I also don't like the fact that the blockchain takes up so much space on the hard drive (approx 14GB)

It's going to be interesting to see where this all goes. I don't think Bitcoin is a passing fad. Even if actual "Bitcoin" doesn't survive, idea and technology behind it is here to stay.

A commodity without a use.
Tulip Bulb futures for techno-libertarians.
it will end in tears.

I don't trust BitCoin. It seems... too unstable. I'd rather try to implement some sort o fshare money, so it's actually backed by something and will remain even if the network goes down. I also think BitCoin is vulnerable to economic attacks by the state, as well as legislative and cyber ones.

Though a digital currency does have it's advantages. I wonder if we could implement a digital, agorist share money system? Or even a digital currency pegged to a basket of world currencies?

Oh, and the answer to the question, according to how WrongPlanet displayed the threads, is god.

Yes. At this rate, they might as well be investing in tulips.

bitcoins aren't a commodity.

Also, there are a lot of uses for bitcoins. And I think they could go up in value significantly. (of course they could also go down significantly in value. it really depends)

It's not like it would ever replace money anyway, with only 21 millions bitcoins possible there is not enough for everyone. It could only remain a tool of the wealthy and the crime lords.

Last edited by Tollorin on 05 Dec 2013, 6:40 pm, edited 1 time in total.

Did you hear about the person who tried to pay a hitman with bitcoins?

I am wondering if the bitcoin's parabolic price spike is related to Japan's economic condition

[youtube]http://www.youtube.com/watch?v=ZY6IEpKRA7Y[/youtube]


[youtube]http://www.youtube.com/watch?v=Njp8bKpi-vg[/youtube]

It probably has more to do with the Chinese yuan. The Yuan does not float freely, so investors have been seeking an alternative way to cash in on what should be a spectacularly appreciating currency. Gold was that commodity, though some of its luster is lost. Hence, bitcoin. Chinese banks have actually been trading in it quite extensively, though they are now barred from doing so.

Maybe so, its the Chinese's. They can put there money in the local bank, Chinese stock market or buy real estate. They only have these options. There currency is freely NOT exchangeable although there are ways to move it out of the country but this is not available to the average Chinese.

Last edited by DoodleDoo on 08 Dec 2013, 2:00 pm, edited 1 time in total.

From a logical standpoint, isn't it impossible for every single country to be in debt to each other? That honestly sounds like a bunch of bull.
We are in debt to Japan equally or even more than we are to China, so how can a power house like Japan (a business hallmark of an ally for any growing company for that matter) have a debt problem? The Japanese yin is almost 1 yin for 1 cent, they even have 100 yin stores! Debt, debt debt debt debt. Why don't we all just stop whining and forgive some of it? Anyways Bitcoin always confused me. In my opinion, digital exchanges, already being able to electronically convert currencies, have no need of a thing like Bitcoin. Why not just form an exchange branch of paypal?

Besides, most of that debt is measured in unpaid benefits isn't it?

Is that right next to the basket for storing tulip bulbs?

ruveyn