xanaxinator

Exactly.

I'm not into them anymore either...I just didn't want to mention their names. But yeah, I think that Ag and Evo are keeping the price of BTC afloat, that's for sure.

Again, great information. I thank you kind sir!

xanaxinator

Thanks for that advice!!! I had no idea about Circle and that is a GREAT help...CB makes you wait days until they xfer money from your bank acct. Coinmarketcap also!!!

This is just great information and is being added to my archive. Thanks for making this place GREAT already. It's people like you...

ethernet

I've been "bitcoining" obsessively since mid 2013. Personally, i have no advice to give you regarding day trading or shorting. I believe that BTC and IoT is going to change the planet for the good and good things are coming.

Look into Ethereum project which is going to revolutionize the web.

xanaxinator

I'm going to do this right now...thanks for the suggestion!

xanaxinator

I certainly hope so. I just wish that TOR wasn't a Naval Intel project, and that BTC were NOT developed by a shady Japanese guy who may or may not have lived.

I'm worried. I know how TOR works, and the far-reaching powers of NSA. Comparing general web traffic to exitnode traffic (yes, this can and IS done) destroys any anonymity there is left in a large part...and they most probably have a workable quantum computing platform right now. In this case, things like AES256 are simply akin to a child's 6-piece jigsaw puzzle.

Opinion?

ethernet

I've spent days trying to figure out who Satoshi Nakamoto is and i don't think he is a shady Japanese guy. If you wanna look at who invented bitcoin you need to look back to early 90s and cypherpunks (not to be confused with cyberpunks) and the extropians. People like Nick Szabo, Adam Back, Hal Finny, David Chaum etc

You should read the cypherpunk menefesto (google it, easy to find)

They have been trying to make bitcoin for like 20 years! Satoshi is just a fake name they picked for the person who would reveal it to the world! If you're going up against the banks, would you want your name out there?! HELL FUCKING NO. they are very smart people!

Here.. wanna have some fun with this? Wanna go down the rabbit hole? Let me help you with some fuuuuun research.

Let's start with some history:

“RPOW” was added on top of Adam Back’s “HashCash”. (This is how Hal Finney created the solution for the Byzantine General’s Problem which allowed BitGold/Bitcoin to be completed).

http://cryptome.org/rpow.htm

It seems BitCoin was then mostly created in the comment sections of the "Nanobarter", "BitGold" & "BitGold-Markets" papers(look at "url's" for correct dates).

http://szabo.best.vwh.net/scarce.html

http://unenumerated.blogspot.com/2007/06/nanobarter.html?m=1

http://unenumerated.blogspot.com/2005/12/bit-gold.html?m=1

http://unenumerated.blogspot.com/2008/04/bit-gold-markets.html?m=1

2007 Szabo applies BitGold and his "Scarce Object" theory to Zookos p2p hard drive project.

Szabo: "One possible answer to central mint vulnerability is bit gold -- a currency the value of which does not depend on any particular trusted third party. ANOTHER alternative is (an object barter economy"Scarce Objects")." Note: Put these all together and you have Bitcoin....

http://web.archive.org/web/20070625154046/http://unenumerated.blogspot.com/
http://web.archive.org/web/20070618142414/http://szabo.best.vwh.net/scarce.html

Note: The relation between Zooko and Jim McCoy needs to be understood.....Zooko is just using Jim's earlier work to create a new system using parts of MojoNation. Understand that Jim McCoy is the real "Drive" behind the creation of these type of schemes. McCoy has spent most of his life and millions of his own dollars in trying to find the best scheme for his MojoNation ideas.(That's right, he's ritch.)

Szabo quote:

"I'm sure you and Jim can make better guesses than I in this regard, and I'd love to hear them, but I can suggest a general approach. My approach would be to start with some possible proxy measures of what users find valuable in backup services: gigabytes, reliability, timeliness, etc. Choice(s) of proxy measure are worth quite a bit of brainstorming and experimentation because the best proxy measures may be highly non-obvious."

Szabo and Jim McCoy relation:

http://unenumerated.blogspot.com/2007/06/nanobarter.html?m=1

Jim McCoy quoye:

"I'd be quite interested in more detail about what you tried to implement and how it compares to what I have proposed....At some point we should sync up over vast quantities of alcohol and I can describe various approaches that were proposed, implemented, or abandoned."

Nick Szabo quote:

"Jim, I do appreciate your comments, and I'd love to learn more over beer (but not until August -- bar exam :-)."

"I have extensively studied barter and money systems (in addition to working for David Chaum and playing a major role setting up a certificate authority) and do believe I have some insights."

Quotes from Cryddit (aka Ray Dillinger "Bear" original cypherpunk-mentored by Tim C. May himself)

"Speaking as someone who reviewed some of his code in late 2008, I think I can express a pretty strong opinion that it was probably written by one person."

"As for comments, he rarely used one word where none would do. His comments were mostly limited to notes to himself to do stuff later or resolve design issues, not explanations. In itself, not unusual, but again, you wouldn't find it completely consistent across a project by multiple people."

"I should clarify this last. What I mean is that people who are coding as part of a team usually use comments to explain the code they're writing to the other members of the team. So-called "lone wolf" programmers making something all by themselves usually are in the habit of not needing to explain anything to anyone so they don't."

Satoshi states early in the mailing list that he did it backwards, writing code first then writing the white paper:

"I appreciate your questions. I actually did this kind of backwards. I had to

write all the code before I could convince myself that I could solve every

problem, then I wrote the paper. I think I will be able to release the code

sooner than I could write a detailed spec. You're already right about most of

your assumptions where you filled in the blanks." ~ Satoshi Nakamoto

http://www.mail-archive.com/cryptography%40metzdowd.com/msg09980.html

Someone else who had this habbit to code first with no white paper and very little notes:

Jim McCoy quote:

"A lot of our various ideas and implementation changes were either lost when whiteboards were re-tasked (at one point we were actually using polaroid snapshots of whiteboards to maintain internal history Smiley or never explained even in the code........no one really had the inclination to write up white papers or discuss design decisions in email, so we ended up leaving less of a digital trail than anyone would have liked."

Jim McCoy History:

http://www.salon.com/2000/10/09/mojo_nation/

xanaxinator

Wow. Just...wow.

You just gave me a day's worth of reading material!

Also, I was alerted that BTC just dropped under $210 so I just threw some more money at it. For a lightweight and awesome BTC "ticker/tracker" this Android app that I have called (appropriately) Bitcoin Ticker Widget is simply great.

Thanks again. I am going to start reading NOW and will report back to you. If I have any questions do you mind taking a stab at answering them?

ethernet

ethernet

of course not! I'll try my best.

Billistics

Here's a video that helps you understand Bitcoin's value.

https://www.youtube.com/watch?v=qHUPPYzzZrI

000cccpcharm

btc= central banker ploy.....is all CC? no

Billistics

Apparently the banks are working on their own version of bitcoin, where the banks will be the miners.

Gamerdog6482

The biggest problem with BTC is that it's trust-based.

When TSR went down the price plummeted. When TSR2 went down the price plummeted again.

BTC peaked at over $400 a couple years ago, and has been going down ever since. The problem is that eventually BTC won't recover from one of these plummets, and then everyone involved will lose a LOT of money. Just like the dot com crisis.

xanaxinator

This isn't completely true. There are still very active darknet markets--they're just a LOT more on the DL than SR/SR2.

I think that BTC will NEVER see a climb like it saw before again. I'm pretty sure that it will stay pretty solid right where it is now...figure between $200-300. If it goes lower I'm buying, no matter what, with the money that I make from shorting it at $250.

xanaxinator

Actually, it peaked at $1700-something. Hence the proliferation of "Bitcoin Millionaires."

I could have sold then, but I did not. Luckily, I DID short some coin and made money that way.

salvia_d

BTC peaked at $1,200 less than 2 years ago.