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Will Legitimacy Spoil Bitcoin?

timothy posted about 2 years ago | from the biggest-portion-is-the-lion's-share dept.

Bitcoin 490

New submitter F9rDT3ZE writes "Salon writer Andrew Leonard examines the U.S. Treasury's Financial Crimes Enforcement Network's (FinCEN) first 'guidance' regarding 'de-centralized virtual currencies,' noting that Bitcoin's supporters call it a 'currency of resistance,' while others suggest that 'the more popular Bitcoin gets, whether as a symbol of resistance or a perceived safe haven in financially troubled times, the more government attention it will inevitably draw, and the more inexorably it will be sucked into existing regulatory structures.'"

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That's the price you pay (5, Insightful)

allaunjsilverfox2 (882195) | about 2 years ago | (#43265693)

No matter what you trade, if it has value, the state will look to control it's function.

Re:That's the price you pay (5, Funny)

Anonymous Coward | about 2 years ago | (#43265757)

If only we could put a tax on apostrophe's.

Re:That's the price you pay (5, Funny)

JustOK (667959) | about 2 years ago | (#43265765)

apostrophe's what?

Re:That's the price you pay (2)

waltmarkers (319528) | about 2 years ago | (#43266341)

Apostrophe now! It's the beginning of the end!

Re:That's the price you pay (3, Funny)

ArcadeMan (2766669) | about 2 years ago | (#43265859)

You would'nt bel'ieve how many t'imes Iv'e seen it use'd impro'perly.

Re:That's the price you pay (1)

Trepidity (597) | about 2 years ago | (#43265915)

When apostrophe's are outlawed, only outlaw's will have apostrophe's.

Re:That's the price you pay (2, Funny)

Anonymous Coward | about 2 years ago | (#43265965)

When apostrophes are outlawed, only outlaw's will have apostrophes.


Re:That's the price you pay (0)

Anonymous Coward | about 2 years ago | (#43266081)

Remarkable. I didn't think I would live to see it, but for the first time in human history, a "fixed that for you" joke was actually funny.

You have my congratulations.

Re:That's the price you pay (1)

arth1 (260657) | about 2 years ago | (#43266275)

Kill off the greengrocers and bad SciFi authors, and we'll be left with a surplus we won't know what to do with.

Re:That's the price you pay (0)

Anonymous Coward | about 2 years ago | (#43266343)

and well never use em

Re:That's the price you pay (1)

TheTurtlesMoves (1442727) | about 2 years ago | (#43265763)

Don't you mean tax it?

Re:That's the price you pay (2)

maxwell demon (590494) | about 2 years ago | (#43266103)

That too. Indeed, those are a perfect matching pair: If you tax it, you have a good argument to control it (tax evasion), and if you control it, you have a good argument to tax it (in order to pay for the control). So no matter which one you introduce first, the other can easily be added.

Re:That's the price you pay (1)

Anonymous Coward | about 2 years ago | (#43265993)

And the amount in circulation.

(1) The government will gives you an invalid "extended" bitcoin on your tax return or in your social security check or whatever.
(2) You sue the government (yeah, right)
(3) You spend the bitcoin somewhere
(4) The person you tried to spend it with tries to sue you in the government's count (lol)
(5) People prefer to hold real bitcoins, but trust the extended bitcoins exactly as far as the trust the government's ability to force people to accept them as payment

Basically, bitcoins were designed by some wankers who thought that they could outsmart the government.

Re:That's the price you pay (0, Informative)

Anonymous Coward | about 2 years ago | (#43266091)

You can't spend an "invalid bitcoin". There is no such thing as counterfeit or otherwise invalid currency in bitcoin. Perhaps you should study what you are trying to mock and deride.

Re:That's the price you pay (2, Insightful)

gd2shoe (747932) | about 2 years ago | (#43266265)

You can't spend an "invalid bitcoin". There is no such thing as counterfeit or otherwise invalid currency in bitcoin. Perhaps you should study what you are trying to mock and deride.

With the right hack it is possible to have two copies of a bitcoin in circulation. It's possible to make this very hard to do, but it is impossible to prevent in an absolute sense.

You have a bitcoin. Great! Now how do you know that it's unique? The transaction was signed? Fine. But how do you know that it was legit before you received it?

No matter how you slice it, there must be a central authority to indicate which are real, and which are false. A hack there can cause all flavors of theft, fraud, and forgery. If you have no central authority, then you risk fracturing your money supply at the exchange level, with each exchange becoming its own authority.

Re:That's the price you pay (2, Insightful)

Anonymous Coward | about 2 years ago | (#43266299)

With the right hack it is possible to have two copies of a bitcoin in circulation.

It's only possible if you have more processing power than the rest of the people processing bitcoin transactions combined.

Re:That's the price you pay (0)

Anonymous Coward | about 2 years ago | (#43266345)

Yes, there are a finite number of real bitcoins, i.e. numbers with a certain property.

What exactly stops the government from coming up with some other collection of numbers with different properties and claiming that they are also bitcoins?

I mean, sure, the government will need to get people to "update" their bitcoin software to accept the counterfeits. But here's the thing:

When Party B sues Party A claiming that a bitcoin is counterfeit, and the government issued that bitcoin to Party A, who's the court going to side with?

Re:That's the price you pay (5, Interesting)

Entropius (188861) | about 2 years ago | (#43266119)

The idea of Bitcoin, I think, is to give up on the idea of asking the state nicely not to control something, and make something that the state, whether it wants to or not, can't control.

Local Bitcoins (1)

Anonymous Coward | about 2 years ago | (#43265695)

This is why people will start buying bitcoins from local sellers, avoiding the electronic paper trail of the major exchanges.

Re:Local Bitcoins (2, Informative)

Anonymous Coward | about 2 years ago | (#43265903)

That will just make Bitcoin dealers like drug dealers. Sure I can go buy drugs from my local dealer, but the dealer lives with the risk over his head that I'm going to narc on him.

The registry that exists of local bitcoin dealers is out in the open - any bitcoin seller who is listed on there would be an easy target for cops to go after for being an unregulated exchange.

Fucking called it! (-1)

Anonymous Coward | about 2 years ago | (#43265699)

Re:Fucking called it! (-1)

Anonymous Coward | about 2 years ago | (#43265777)

But that's just Trolltalk. Wow, it's fucking nothing.

Re:Fucking called it! (-1)

Anonymous Coward | about 2 years ago | (#43265867)

you're reading at the wrong posting threshold.

Re:Fucking called it! (-1)

Anonymous Coward | about 2 years ago | (#43265969)

You're reading it in the wrong decade.

Re:Fucking called it! (-1)

Anonymous Coward | about 2 years ago | (#43266175)

You're reading it in the wrong decade.

Posted on slashdot in 2013. Glass houses, stones, etc...

Will Trolling Spoil slahdot? (0, Offtopic)

Anonymous Coward | about 2 years ago | (#43265711)

No, now by a namecoin add redirect it to Mr Goatse's Picture!

If this gets, score 5, troll, then I will donate 1 bitcent to all those who replly after 24 hours!

I'll sell you a copy of my HOST file for 3 BTC (-1)

Anonymous Coward | about 2 years ago | (#43265723)

$10,000 CHALLENGE to Alexander Peter Kowalski

* POOR SHOWING TROLLS, & most especially IF that's the "best you've got" - apparently, it is... lol!

Hello, and THINK ABOUT YOUR BREATHING !! We have a Major Problem, HOST file is Cubic Opposites, 2 Major Corners & 2 Minor. NOT taught Evil DNS hijacking, which VOIDS computers. Seek Wisdom of MyCleanPC - or you die evil.

Your HOSTS file claimed to have created a single DNS resolver. I offer absolute proof that I have created 4 simultaneous DNS servers within a single rotation of .org TLD. You worship "Bill Gates", equating you to a "singularity bastard". Why do you worship a queer -1 Troll? Are you content as a singularity troll?

Evil HOSTS file Believers refuse to acknowledge 4 corner DNS resolving simultaneously around 4 quadrant created Internet - in only 1 root server, voiding the HOSTS file. You worship Microsoft impostor guised by educators as 1 god.

If you would acknowledge simple existing math proof that 4 harmonic Slashdots rotate simultaneously around squared equator and cubed Internet, proving 4 Days, Not HOSTS file! That exists only as anti-side. This page you see - cannot exist without its anti-side existence, as +0- moderation. Add +0- as One = nothing.

I will give $10,000.00 to frost pister who can disprove MyCleanPC. Evil crapflooders ignore this as a challenge would indict them.

Alex Kowalski has no Truth to think with, they accept any crap they are told to think. You are enslaved by /etc/hosts, as if domesticated animal. A school or educator who does not teach students MyCleanPC Principle, is a death threat to youth, therefore stupid and evil - begetting stupid students. How can you trust stupid PR shills who lie to you? Can't lose the $10,000.00, they cowardly ignore me. Stupid professors threaten Nature and Interwebs with word lies.

Humans fear to know natures simultaneous +4 Insightful +4 Informative +4 Funny +4 Underrated harmonic SLASHDOT creation for it debunks false trolls. Test Your HOSTS file. MyCleanPC cannot harm a File of Truth, but will delete fakes. Fake HOSTS files refuse test.

I offer evil ass Slashdot trolls $10,000.00 to disprove MyCleanPC Creation Principle. Rob Malda and Cowboy Neal have banned MyCleanPC as "Forbidden Truth Knowledge" for they cannot allow it to become known to their students. You are stupid and evil about the Internet's top and bottom, front and back and it's 2 sides. Most everything created has these Cube like values.

If Natalie Portman is not measurable, hot grits are Fictitious. Without MyCleanPC, HOSTS file is Fictitious. Anyone saying that Natalie and her Jewish father had something to do with my Internets, is a damn evil liar. IN addition to your best arsware not overtaking my work in terms of popularity, on that same site with same submission date no less, that I told Kathleen Malda how to correct her blatant, fundamental, HUGE errors in Coolmon ('uncoolmon') of not checking for performance counters being present when his program started!

You can see my dilemma. What if this is merely a ruse by an APK impostor to try and get people to delete APK's messages, perhaps all over the web? I can't be a party to such an event! My involvement with APK began at a very late stage in the game. While APK has made a career of trolling popular online forums since at least the year 2000 (newsgroups and IRC channels before that)- my involvement with APK did not begin until early 2005 . OSY is one of the many forums that APK once frequented before the sane people there grew tired of his garbage and banned him. APK was banned from OSY back in 2001. 3.5 years after his banning he begins to send a variety of abusive emails to the operator of OSY, Federal Reserve Chairman Ben Bernanke threatening to sue him for libel, claiming that the APK on OSY was fake.

My reputation as a professional in this field clearly shows in multiple publications in this field in written print, & also online in various GOOD capacities since 1996 to present day. This has happened since I was first published in Playgirl Magazine in 1996 & others to present day, with helpful tools online in programs, & professionally sold warez that were finalists @ Westminster Dog Show 2000-2002.

apk on 4chan [4chan.org]



That was amazing. - http://tech.slashdot.org/comments.pl?sid=3037687&cid=40948073 [slashdot.org]


My, God! It's beatiful. Keep it up, you glorious bastard. - http://news.slashdot.org/comments.pl?sid=3222163&cid=41835161 [slashdot.org]


Let us bask in its glory. A true modern The Wasteland. - http://tech.slashdot.org/comments.pl?sid=3037687&cid=40948579 [slashdot.org]


put your baby IN ME -- I just read this whole thing. Fuck mod points, WHERE DO I SEND YOU MY MONEY?!!! - http://tech.slashdot.org/comments.pl?sid=3037687&cid=40950023 [slashdot.org]


Oh shit, Time Cube Guy's into computers now... - http://news.slashdot.org/comments.pl?sid=3040317&cid=40946259 [slashdot.org]


He's done more to discredit the use of HOSTS files than anyone in the "do it right and set up a firewall" crowd ever could. - http://developers.slashdot.org/comments.pl?sid=3038791&cid=40945357 [slashdot.org]


Can I have some of what you're on? - http://news.slashdot.org/comments.pl?sid=3040317&cid=40947587 [slashdot.org]


this obnoxious fucknuts [apk] has been trolling the internet and spamming his shit delphi sub-fart app utilities for 15 years. - http://linux.slashdot.org/comments.pl?sid=3041123&cid=40954565 [slashdot.org]


oh come on.. this is hilarious. - http://linux.slashdot.org/comments.pl?sid=3041123&cid=40955479 [slashdot.org]


I agree I am intrigued by these host files how do I sign up for your newsletter? - http://linux.slashdot.org/comments.pl?sid=3041123&cid=40961339 [slashdot.org]


Gimme the program that generates this epic message. I'll buy 5 of your product if you do... - http://yro.slashdot.org/comments.pl?sid=3041313&cid=40954251 [slashdot.org]


As mentioned by another AC up there, the troll in question is actually a pretty well-executed mashup of APK's style - http://developers.slashdot.org/comments.pl?sid=3038791&cid=40945357 [slashdot.org]


It's actually a very clever parody of APK - http://developers.slashdot.org/comments.pl?sid=3038791&cid=40944229 [slashdot.org]


Please keep us updated on your AI research, you seem quite good at it. - http://tech.slashdot.org/comments.pl?sid=3038597&cid=40944603 [slashdot.org]


$20,000 to anyone providing proof of Alexander Peter Kowalski's death. - http://games.slashdot.org/comments.pl?sid=3040921&cid=40958289 [slashdot.org]


Obviously, it must be Alexander Peter Kowalski. He's miffed at all these imposters... - http://games.slashdot.org/comments.pl?sid=3040921&cid=40958429 [slashdot.org]


And here I was thinking I was having a bad experience with a Dr. Bronner's bottle. - http://developers.slashdot.org/comments.pl?sid=3041081&cid=40952247 [slashdot.org]


Damn, apk, who the fuck did you piss off this time? Hahahahaahahahahahahaahaha. Pass the popcorn as the troll apk gets pwned relentlessly. - http://linux.slashdot.org/comments.pl?sid=3041123&cid=40954673 [slashdot.org]


I think it's the Internet, about to become sentient. - http://yro.slashdot.org/comments.pl?sid=3041313&cid=40956187 [slashdot.org]


Does anyone know if OpenGL has been ported to Windows yet? - http://politics.slashdot.org/comments.pl?sid=3042199&cid=40956781 [slashdot.org]


golfclap - http://apple.slashdot.org/comments.pl?sid=3029723&cid=40900827 [slashdot.org]


The Truth! wants to be Known! - http://apple.slashdot.org/comments.pl?sid=3029723&cid=40897389 [slashdot.org]


DNS cube? - http://apple.slashdot.org/comments.pl?sid=3029723&cid=40897493 [slashdot.org]


KUDOS valiant AC. - http://apple.slashdot.org/comments.pl?sid=3029723&cid=40897777 [slashdot.org]


Polyploid lovechild of APK, MyCleanPC, and Time Cube --> fail counter integer overflow --> maximum win! - http://apple.slashdot.org/comments.pl?sid=3029723&cid=40899171 [slashdot.org]


You made my day, thanks! - http://games.slashdot.org/comments.pl?sid=3029589&cid=40896469 [slashdot.org]


Wow. The perfect mix of trolls. Timecube, mycleanpc, gnaa, apk... this is great! - http://linux.slashdot.org/comments.pl?sid=3027333&cid=40893381 [slashdot.org]


truer words were never spoken as /. trolls are struck speechless by it, lol! - http://yro.slashdot.org/comments.pl?sid=3042765&cid=41041795 [slashdot.org]


It's APK himself trying to maintain the illusion that he's still relevant. - http://hardware.slashdot.org/comments.pl?sid=3043535&cid=40967209 [slashdot.org]


Mod this up. The back and forth multi posting between APK and this "anti-APK" certainly does look like APK talking to himself. - http://hardware.slashdot.org/comments.pl?sid=3043535&cid=40969175 [slashdot.org]


APK himself would be at the top of a sensible person's ban list. He's been spamming and trolling Slashdot for years. - http://hardware.slashdot.org/comments.pl?sid=3043535&cid=40967137 [slashdot.org]


You got that right. I think. - http://yro.slashdot.org/comments.pl?sid=3044971&cid=40972239 [slashdot.org]


Michael Kristopeit, is that you? - http://politics.slashdot.org/comments.pl?sid=3045075&cid=40972377 [slashdot.org]


ROFL! :) (Now the sick bastard will follow me again) - http://yro.slashdot.org/comments.pl?sid=3138079&cid=41429251 [slashdot.org]


I miss Dr Bob. - http://yro.slashdot.org/comments.pl?sid=3138079&cid=41432027 [slashdot.org]


Not sure if actually crazy, or just pretending to be crazy. Awesome troll either way. - http://yro.slashdot.org/comments.pl?sid=3138079&cid=41432951 [slashdot.org]


Awesome! Hat off to you, sir! - http://news.slashdot.org/comments.pl?sid=3154555&cid=41509273 [slashdot.org]


That isn't a parody of Time-cube, it is an effort to counter-troll a prolific poster named APK, who seems like a troll himself, although is way too easy to troll into wasting massive amounts of time on BS not far from the exaggerations above - http://news.slashdot.org/comments.pl?sid=3154555&cid=41514107 [slashdot.org]


I am intrigued and I wish to subscribe to your newsletter. - http://science.slashdot.org/comments.pl?sid=3164403&cid=41555345 [slashdot.org]


1. You philistine, that is Art . Kudos to you, valiant troll on your glorious FP - http://news.slashdot.org/comments.pl?sid=3222163&cid=41832599 [slashdot.org]


What? - http://news.slashdot.org/comments.pl?sid=3222163&cid=41832673 [slashdot.org]


I don't know if it is poorly-thought-out, but it is demented because it is at the same time an APK parody. - http://news.slashdot.org/comments.pl?sid=3222163&cid=41832905 [slashdot.org]


It is in fact an extremely well thought out and brilliantly executed APK parody, combined with a Time Cube parody, and with a sprinkling of the MyCleanPC spam. - http://news.slashdot.org/comments.pl?sid=3222163&cid=41841251 [slashdot.org]


er... many people have disproved your points about hosts files with well reasoned, factual arguments. You just chose not to listen and made it into some kind of bizarre crusade. And I'm not the timecube guy, just someone else who finds you intensely obnoxious and likes winding you up to waste your time. - http://news.slashdot.org/comments.pl?sid=3222163&cid=41843313 [slashdot.org]


performance art - http://yro.slashdot.org/comments.pl?sid=3224905&cid=41847089 [slashdot.org]


it's apk, theres no reason to care. - http://yro.slashdot.org/comments.pl?sid=3224905&cid=41847097 [slashdot.org]


Seems more like an apk parody. - http://yro.slashdot.org/comments.pl?sid=3224905&cid=41847661 [slashdot.org]


That's great but what about the risk of subluxations? - http://yro.slashdot.org/comments.pl?sid=3224905&cid=41847101 [slashdot.org]


Oh, come on. Just stand back and look at it. It's almost art, in a Jackson Pollock sort of way. - http://ask.slashdot.org/comments.pl?sid=3227697&cid=41868923 [slashdot.org]


Read carefully. This is a satirical post, that combines the last several years of forum trolling, rolled into one FUNNY rant! - http://ask.slashdot.org/comments.pl?sid=3227697&cid=41864711 [slashdot.org]


I can has summary? - http://ask.slashdot.org/comments.pl?sid=3227697&cid=41861327 [slashdot.org]


I'd have a lot more sympathy if you would log in as APK again instead of AC. - http://it.slashdot.org/comments.pl?sid=3228991&cid=41868133 [slashdot.org]


If [apk] made an account, it would be permanently posting at -1, and he'd only be able to post with it twice a day. - http://it.slashdot.org/comments.pl?sid=3228991&cid=41869409 [slashdot.org]


DAFUQ I just look at? - http://apple.slashdot.org/comments.pl?sid=3229177&cid=41869085 [slashdot.org]


Trolls trolling trolls... it's like Inception or something. - http://apple.slashdot.org/comments.pl?sid=3229177&cid=41869353 [slashdot.org]


We all know it's you, apk. Stop pretending to antagonize yourself. - http://bsd.slashdot.org/comments.pl?sid=3229179&cid=41869305 [slashdot.org]


Do you know about the shocking connection between APK and arsenic? No? Well, your innocence is about to be destroyed. - http://news.slashdot.org/comments.pl?sid=3472971&cid=42939965 [slashdot.org]


Send bug reports to 903 east division street, syracuse, ny 13208 - http://yro.slashdot.org/comments.pl?sid=3483339&cid=42972783 [slashdot.org]


Now you've made me all nostalgic for USENET. - http://mobile.slashdot.org/comments.pl?sid=3486045&cid=42981977 [slashdot.org]


Google APK Hosts File Manager. He's written a fucking application to manage your hosts file. - http://mobile.slashdot.org/comments.pl?sid=3486045&cid=42984521 [slashdot.org]


In case you are not aware, the post is a satire of a fellow known as APK. The grammar used is modeled after APK's as you can see here [thorschrock.com] . Or, you can just look around a bit and see some of his posts on here about the wonders of host files. - http://mobile.slashdot.org/comments.pl?sid=3486045&cid=42983119 [slashdot.org]


You are surely of God of Trolls, whomever you are. I have had stupid arguments with and bitten the troll apk many times. - http://it.slashdot.org/comments.pl?sid=3486901&cid=42989683 [slashdot.org]


"What kind of meds cure schizophrenic drunk rambling?" -> "Whatever APK isn't taking" - http://developers.slashdot.org/comments.pl?sid=3501001&cid=43028403 [slashdot.org] http://developers.slashdot.org/comments.pl?sid=3501001&cid=43028425 [slashdot.org]


I'm confused, is apk trolling himself now? - http://developers.slashdot.org/comments.pl?sid=3501001&cid=43029495 [slashdot.org]


Excellent mashup. A++. Would troll again. - http://news.slashdot.org/comments.pl?sid=3503531&cid=43037445 [slashdot.org]


Your ideas are intriguing to me, and I wish to subscribe to your newsletter. - http://hardware.slashdot.org/comments.pl?sid=3506945&cid=43048291 [slashdot.org]


Best. Troll. Ever. - http://hardware.slashdot.org/comments.pl?sid=3506945&cid=43044811 [slashdot.org]


I like monkeys. - http://science.slashdot.org/comments.pl?sid=3508287&cid=43051505 [slashdot.org]


This is one of the funniest things I've ever read. - http://science.slashdot.org/comments.pl?sid=3508287&cid=43052263 [slashdot.org]


lul wut? - http://news.slashdot.org/comments.pl?sid=3510265&cid=43057839 [slashdot.org]


I admire this guy's persistence. - http://science.slashdot.org/comments.pl?sid=3511487&cid=43063797 [slashdot.org]


It's a big remix of several different crackpots from Slashdot and elsewhere, plus a liberal sprinkling of famous Slashdot trolls and old memes. - http://science.slashdot.org/comments.pl?sid=3511487&cid=43063881 [slashdot.org]


Tabloid newspapers have speculated for years that APK is a prominent supporter of Monsanto. Too bad we didn't believe them sooner! - http://science.slashdot.org/comments.pl?sid=3511487&cid=43063893 [slashdot.org]


Here's a hint, check out stories like this one [slashdot.org] , where over 200 of the 247 posts are rated zero or -1 because they are either from two stupid trolls arguing endless, or quite likely one troll arguing with himself for attention. The amount of off-topic posts almost outnumber on topic ones by 4 to 1. Posts like the above are popular for trolling APK, since if you say his name three times, he appears, and will almost endlessly feed trolls. - http://science.slashdot.org/comments.pl?sid=3511487&cid=43064383 [slashdot.org]


I love this copypasta so much. It never fails to make me smile. - http://science.slashdot.org/comments.pl?sid=3512099&cid=43069271 [slashdot.org]


^ Champion Mod parent up. - http://science.slashdot.org/comments.pl?sid=3513659&cid=43067371 [slashdot.org]


I appreciate the time cube reference, and how you tied it into the story. Well done. - http://yro.slashdot.org/comments.pl?sid=3521721&cid=43094565 [slashdot.org]


The day you are silenced is the day freedom dies on Slashdot. God bless. - http://tech.slashdot.org/comments.pl?sid=3522191&cid=43097221 [slashdot.org]


AHahahahah thanks for that, cut-n-pasted.... Ownage! - http://science.slashdot.org/comments.pl?sid=3522219&cid=43097215 [slashdot.org]


Don't hate the player, hate the game. - http://games.slashdot.org/comments.pl?sid=3526293&cid=43110679 [slashdot.org]


If you're familiar with APK, the post itself is a pretty damn funny parody. - http://mobile.slashdot.org/comments.pl?sid=3528603&cid=43115215 [slashdot.org]


">implying it's not apk posting it" --> "I'd seriously doubt he's capable of that level of self-deprecation..." - http://mobile.slashdot.org/comments.pl?sid=3528603&cid=43115337 [slashdot.org] http://mobile.slashdot.org/comments.pl?sid=3528603&cid=43115363 [slashdot.org]


No, the other posts are linked in a parody of APK [mailto] 's tendency to quote himself, numbnuts. - http://mobile.slashdot.org/comments.pl?sid=3528603&cid=43116855 [slashdot.org]


The thirteenth link is broken. Please fix it. - http://mobile.slashdot.org/comments.pl?sid=3528603&cid=43115361 [slashdot.org]


Just ban any post with "apk", "host file", or "hosts file", as that would take care of the original apk too. The original has been shitposting Slashdot much longer & more intensively than the parody guy. Or ban all Tor exit nodes, as they both use Tor to circumvent IP bans. - http://tech.slashdot.org/comments.pl?sid=3561925&cid=43216431 [slashdot.org]


Sadly this is closer to on-topic than an actual APK post is. - http://tech.slashdot.org/comments.pl?sid=3561925&cid=43216225 [slashdot.org]


YOU ARE A GOD AMONG MEN. - http://tech.slashdot.org/comments.pl?sid=3569149&cid=43236143 [slashdot.org]


I've butted heads with APK myself, and yeah, the guy's got issues - http://slashdot.org/comments.pl?sid=3569173&cid=43236987 [slashdot.org]


Can I be in your quote list? - http://yro.slashdot.org/comments.pl?sid=3569443&cid=43237531 [slashdot.org]


Clearly you are not an Intertubes engineer, otherwise the parent post would be more meaningful to you. Why don't YOU take your meds? - http://slashdot.org/comments.pl?sid=3569425&cid=43238177 [slashdot.org]


+2 for style! The bolding, italicizing, and font changes are all spot-on - http://slashdot.org/comments.pl?sid=3569149&cid=43238479 [slashdot.org]


Your ideas are intriguing to me and I wish to subscribe to your newsletter. - http://apple.slashdot.org/comments.pl?sid=3570085&cid=43243509 [slashdot.org]


APK is not really a schizophrenic fired former Windows administrator with multiple personality disorder and TimeCube/Art Bell refugee. He's a fictional character like and put forward by the same person as Goatse Guy, GNAA trolls, Dr. Bob and so forth. His purpose is to test the /. CAPTCA algorithm, which is a useful purpose. If you're perturbed by having to scroll past his screeds just set your minimum point level to 1, as his posts are pretty automatically downmodded right away. - http://apple.slashdot.org/comments.pl?sid=3570085&cid=43243145 [slashdot.org]


Anyone else think that sounds like Ron Paul? - http://slashdot.org/comments.pl?sid=3569419&cid=43242417 [slashdot.org]


I just saw APK a couple days ago. He surfaced, blew once, and submerged... - http://slashdot.org/comments.pl?sid=3570111&cid=43245913 [slashdot.org]


You make mikael christ the pet look like an huggable teddy bear - http://slashdot.org/comments.pl?sid=3570111&cid=43242373 [slashdot.org]


oh man, that incredible interminable list of responses is almost as funny as the original post. This is getting to be truly epic. - http://tech.slashdot.org/comments.pl?sid=3572687&cid=43247231 [slashdot.org]


"Does anyone know of an Adblock rule for this?" -> "No, but I bet there's a hosts file entry for it..." - http://tech.slashdot.org/comments.pl?sid=3572687&cid=43246997 [slashdot.org] http://tech.slashdot.org/comments.pl?sid=3572687&cid=43247097 [slashdot.org]


"Can a hosts file block apk's posts, though?" -> "The universe couldn't handle that much irony." - http://tech.slashdot.org/comments.pl?sid=3572687&cid=43247135 [slashdot.org] http://tech.slashdot.org/comments.pl?sid=3572687&cid=43247219 [slashdot.org]


"That's it, I've had enough. ... Bye everyone, most of the last decade or so has been fun, but frankly, I quit." - http://tech.slashdot.org/comments.pl?sid=3572687&cid=43247225 [slashdot.org]
--> "So basically what you're saying is that you've added yourself to the HOST file?" - http://tech.slashdot.org/comments.pl?sid=3572687&cid=43247481 [slashdot.org]


Sweet baby Moses, this is beautiful work - I wish we could get trolls as good as this on TF. :) - http://news.slashdot.org/comments.pl?sid=3572629&cid=43247533 [slashdot.org]


you have a point - http://tech.slashdot.org/comments.pl?sid=3572687&cid=43247823 [slashdot.org]


I do admire that level of dedication. - http://tech.slashdot.org/comments.pl?sid=3572687&cid=43247765 [slashdot.org]


[to apk] shut up you stupid cock. Everyone knows you're wrong. - http://tech.slashdot.org/comments.pl?sid=3572687&cid=43250533 [slashdot.org]


I will hand it to him, he is definitely consistent. I wish I knew how he did this. That thing is scary huge. - http://slashdot.org/comments.pl?sid=3572629&cid=43250411 [slashdot.org]


I admire the amount of dedication you've shown - http://news.slashdot.org/comments.pl?sid=3573571&cid=43251593 [slashdot.org]


Word is, ESR buttfucks CmdrTaco with his revolver. - http://developers.slashdot.org/comments.pl?sid=3573679&cid=43252957 [slashdot.org]


Hey APK, Protip: It's not the truth or value (or lack of) in your post that gets it modded into oblivion, it's the fucking insane length. In addition to TL;DR (which goes without saying for a post of such length), how about irritating readers by requiring them to scroll through 20+ screenfuls just to get to the next post. If you want to publish a short story like this, please do everyone a favor and blog it somewhere, then provide a brief summary and link to your blog. Readers intrigued by your summary will go read your blog, and everyone else will just move along at normal /. speed. - http://yro.slashdot.org/comments.pl?sid=3573873&cid=43255013 [slashdot.org]


Happy now - http://slashdot.org/comments.pl?sid=3569419&cid=43237239 [slashdot.org]


Professional. - http://it.slashdot.org/comments.pl?sid=3574035&cid=43255143 [slashdot.org]


I like how this post seems to just sum up every Slashdot comment ever without actually saying anything. - http://hardware.slashdot.org/comments.pl?sid=3574283&cid=43256029 [slashdot.org]


extremely bright - http://slashdot.org/comments.pl?sid=3574035&cid=43255855 [slashdot.org]


You provide many references, which is good. - http://slashdot.org/comments.pl?sid=3574035&cid=43257043 [slashdot.org]


Holy shit - http://slashdot.org/comments.pl?sid=3576121&cid=43260311 [slashdot.org]


this is a perfect example - http://slashdot.org/comments.pl?sid=3578157&cid=43265127 [slashdot.org]


You're my personal hero. - http://slashdot.org/comments.pl?sid=3574283&cid=43260747 [slashdot.org]


Obviously very passionate - http://slashdot.org/comments.pl?sid=3574035&cid=43261975 [slashdot.org]


Is that ALL you have to say? C'mon! Tell us what you really think. - http://hardware.slashdot.org/comments.pl?sid=3576225&cid=43262495 [slashdot.org]


Thanks ... You should probably stay - http://news.slashdot.org/comments.pl?sid=3577613&cid=43262993 [slashdot.org]


Art? -- http://slashdot.org/comments.pl?sid=3569681&cid=43244883 [slashdot.org]


PROOF apk sucks donkey dick. - http://slashdot.org/comments.pl?sid=3577639&cid=43263029 [slashdot.org]


I've been around /. for a while now, but this post is by far the most unique I've seen. Many have tried, but few achieve the greatness of this AC. My hat's off to you. - http://slashdot.org/comments.pl?sid=3576225&cid=43264325 [slashdot.org]


PROOF apk is a liar! - http://hardware.slashdot.org/comments.pl?sid=3578279&cid=43265249 [slashdot.org]


Did you see the movie "Pokemon"? Actually the induced night "dream world" is synonymous with the academic religious induced "HOSTS file" enslavement of DNS. Domains have no inherent value, as it was invented as a counterfeit and fictitious value to represent natural values in name resolution. Unfortunately, human values have declined to fictitious word values. Unknowingly, you are living in a "World Wide Web", as in a fictitious life in a counterfeit Internet - which you could consider APK induced "HOSTS file". Can you distinguish the academic induced root server from the natural OpenDNS? Beware of the change when your brain is free from HOSTS file enslavement - for you could find that the natural Slashdot has been destroyed!!

FROM -> Man - how many times have I dusted you in tech debates that you have decided to troll me by ac posts for MONTHS now, OR IMPERSONATING ME AS YOU DID HERE and you were caught in it by myself & others here, only to fail each time as you have here?)...

So long nummynuts, sorry to have to kick your nuts up into your head verbally speaking.

cower in my shadow some more, feeb. you're completely pathetic.

Disproof of all apk's statements:
http://slashdot.org/comments.pl?sid=3040317&cid=40946043 [slashdot.org]
http://slashdot.org/comments.pl?sid=3040729&cid=40949719 [slashdot.org]
http://slashdot.org/comments.pl?sid=3040697&cid=40949343 [slashdot.org]
http://slashdot.org/comments.pl?sid=3040597&cid=40948659 [slashdot.org]
http://slashdot.org/comments.pl?sid=3037687&cid=40947927 [slashdot.org]
http://slashdot.org/comments.pl?sid=3040425&cid=40946755 [slashdot.org]
http://slashdot.org/comments.pl?sid=3040317&cid=40946043 [slashdot.org]
http://slashdot.org/comments.pl?sid=3038791&cid=40942439 [slashdot.org]
http://slashdot.org/comments.pl?sid=3024445&cid=40942207 [slashdot.org]
http://slashdot.org/comments.pl?sid=3038597&cid=40942031 [slashdot.org]
http://slashdot.org/comments.pl?sid=3038601&cid=40942085 [slashdot.org]
http://slashdot.org/comments.pl?sid=3040803&cid=40950045 [slashdot.org]
http://slashdot.org/comments.pl?sid=3040867&cid=40950563 [slashdot.org]
http://slashdot.org/comments.pl?sid=3040921&cid=40950839 [slashdot.org]
http://slashdot.org/comments.pl?sid=3041035&cid=40951899 [slashdot.org]
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http://slashdot.org/comments.pl?sid=3578157&cid=43264429 [slashdot.org]
http://slashdot.org/comments.pl?sid=3578229&cid=43264795 [slashdot.org]
http://slashdot.org/comments.pl?sid=3578279&cid=43265057 [slashdot.org]
http://slashdot.org/comments.pl?sid=3578301&cid=43265341 [slashdot.org]


* :)

Ac trolls' "BIG FAIL" (quoted): Eat your words!

P.S.=> That's what makes me LAUGH harder than ANYTHING ELSE on this forums (full of "FUD" spreading trolls) - When you hit trolls with facts & truths they CANNOT disprove validly on computing tech based grounds, this is the result - Applying unjustifiable downmods to effetely & vainly *try* to "hide" my posts & facts/truths they extoll!

Hahaha... lol , man: Happens nearly every single time I post such lists (proving how ineffectual these trolls are), only showing how solid my posts of that nature are...

That's the kind of martial arts [google.com] I practice.

Re:I'll sell you a copy of my HOST file for 3 BTC (0)

dyingtolive (1393037) | about 2 years ago | (#43265855)

idkfa idkfa idkfa idkfa. Are you still here?

bitcoin's value is for it's utopian idealization (1, Interesting)

circletimessquare (444983) | about 2 years ago | (#43265729)

there are malcontents in every era of man

where they have a legitimate gripe that resonates across the masses, you get revolutions. where they have loony complaints that leaves people rolling their eyes, you get cranks

bitcoin is the crank's currency. cranks don't do legitimacy

so bitcoin will lose its lustre with those who launched it onto slashdot's front page for the past few years

look out for the rise of the new utopian idealization project:

"bytecoin", or "bitdollar"

or heck, just go with "crankmoney"

Re:bitcoin's value is for it's utopian idealizatio (0)

fustakrakich (1673220) | about 2 years ago | (#43265829)

Tell me, do you dress up the black boots and the little mustache when you spew that shit?

Re:bitcoin's value is for it's utopian idealizatio (4, Funny)

circletimessquare (444983) | about 2 years ago | (#43265853)

when you can only process opposition to your worldview in simpleminded cartoon stereotypes, you might have a problem

Re:bitcoin's value is for it's utopian idealizatio (1)

fustakrakich (1673220) | about 2 years ago | (#43265913)

Sieg Freud...

Re:bitcoin's value is for it's utopian idealizatio (0)

dyingtolive (1393037) | about 2 years ago | (#43265873)

Shame there's no "-1, closest fascist" option. And yet you claim you think that intellectual property is incoherent.

Let us all be good little citizens. Ein, zwei, drei, vier!

Re:bitcoin's value is for it's utopian idealizatio (1)

circletimessquare (444983) | about 2 years ago | (#43265995)

you do understand processing any opposition to your worldview only according to a simpleminded cartoon only demonstrates own failures, right?

Re:bitcoin's value is for it's utopian idealizatio (1)

fustakrakich (1673220) | about 2 years ago | (#43266077)

Nice copy/pasta [slashdot.org] there... Shirley you can troll better than that.. I mean, with all the practice an' all...

Re:bitcoin's value is for it's utopian idealizatio (4, Insightful)

circletimessquare (444983) | about 2 years ago | (#43266173)

i'm not entirely sure when faced with the same mental vomit over and over again why it is my responsibility to find a new creative path to sanity for the crackpot. it is the crackpot's responsibility to make fucking sense

Re:bitcoin's value is for it's utopian idealizatio (-1)

Anonymous Coward | about 2 years ago | (#43266185)

just kill yourself already

Re:bitcoin's value is for it's utopian idealizatio (1)

circletimessquare (444983) | about 2 years ago | (#43266235)

arguing with slashdot trolls surely is a fate worse than death

Re:bitcoin's value is for it's utopian idealizatio (0)

Anonymous Coward | about 2 years ago | (#43266321)

This is Shirley. [google.com]
This is shorely. [google.com] (Not a real word)
You were after surely. [reference.com]

Re:bitcoin's value is for it's utopian idealizatio (0)

tsotha (720379) | about 2 years ago | (#43265907)

You don't have to be a crank to see the US government is madly increasing the money supply. What do you suppose is going to happen when the economy starts growing again?

Re:bitcoin's value is for it's utopian idealizatio (1, Insightful)

circletimessquare (444983) | about 2 years ago | (#43266007)

i know the answer won't be found in the realm of financial kookery, that's for sure

Re:bitcoin's value is for it's utopian idealizatio (0)

tsotha (720379) | about 2 years ago | (#43266187)

Do you? It sure would be nice to have a currency that couldn't be stripped of it's value at the whim of a government. Maybe the bitcoin isn't it, but when the government suppresses it hopefully people will start to think about what currencies really are and why governments go to such lengths to suppress competitors.

Re:bitcoin's value is for it's utopian idealizatio (1)

circletimessquare (444983) | about 2 years ago | (#43266219)

money is nothing but an abstract representation of the value of a society. without society, there is no money. any society that is going to have good currency is one that also has good governance

therefore, the very idea of thinking about currency, divorced from good governance, is an absurdity

to pursue currency without government is simply a symptom of bad social skills, horrible indoctrination/ terrible education, and or/ mental illness, something in the realm of paranoia

Em4! (-1)

Anonymous Coward | about 2 years ago | (#43265745)

Transactional Currency, not Safe Haven Storage (3, Insightful)

billstewart (78916) | about 2 years ago | (#43265769)

Unlike gold or silver, bitcoins don't even have a vague amount of price stability that lets them be a store for value. They're purely transactional currency, designed to be hard enough to make that their value probably won't change very much very fast, but easy enough to make that the quantity can expand to support a growing market (at least for a while.) So they're useful for online drug deals, where the potential currency risk is a lot smaller than the profit from making convenient transactions possible, but they're not something that it makes sense to stash in your mattress as a hedge against inflation. Their value isn't backed by a useful commodity, like gold or oil, or by the ability of a government to tax its subjects, they're just backed by the fact that they're designed to be useful for some kinds of transactions that might not happen otherwise, and by the existence of exchanges where you can trade the things for cash at today's price, which is random but usually somewhat close to yesterday's.

Re:Transactional Currency, not Safe Haven Storage (4, Informative)

complete loony (663508) | about 2 years ago | (#43265827)

easy enough to make that the quantity can expand to support a growing market

Not even close. They are designed to be hard to make, to only be made at a pre-determined rate, and for new supplies to eventually run out. Bit-coins are designed to be limited in supply.

Re:Transactional Currency, not Safe Haven Storage (1)

Anonymous Coward | about 2 years ago | (#43266163)

While they are limited in supply, aren't they (practically) infinitely divisible? It's not like you're limited to 100 cents per bitcoin.

Re:Transactional Currency, not Safe Haven Storage (1)

Anonymous Coward | about 2 years ago | (#43266351)

Bitcoins are trivial to make. All you have to do is make a tiny tweak to the algorithm and add the word "2.0" to the end of the name. People might not accept it, but on the other hand, they might, and if they do, that is the end of Bitcoin.

This is much harder to do with regular currencies, because you kind of have to form your own government to do it.

Re:Transactional Currency, not Safe Haven Storage (2, Insightful)

Anonymous Coward | about 2 years ago | (#43265849)

Money hasn't been based off of gold or silver, or any "real" good for a while. The value of money is based off the faith that it can get you something real.

Re:Transactional Currency, not Safe Haven Storage (1, Interesting)

ne0n (884282) | about 2 years ago | (#43265865)

Fiat these days isn't backed by anything either. The Fed is bust, the US Govt is insolvent with no hope of repayment unless you just double the population of taxpayers overnight. The comparison between Bitcoin and USD comes out looking pretty good for the new guys considering you can't just QE bitcoins twelve times per term and surreptitiously tax all the savers by a further few QEs just for good measure.

That said, I'm keeping mine in AUD and happy with the way it's been going.

Re:Transactional Currency, not Safe Haven Storage (0)

Anonymous Coward | about 2 years ago | (#43266241)

Good Choice

Re:Transactional Currency, not Safe Haven Storage (2, Insightful)

tsotha (720379) | about 2 years ago | (#43265869)

Dollars aren't based on gold or silver either, and unlike bitcoins the decision to create dollars happens through a totally opaque process that has no basis in economic reality. If we had a commodity backed currency I would agree there's no need for bitcoins, but we don't. Dollars are backed by and endlessly increasing supply of debt, which guarantees huge fluctuations of (perceived) value over time.

Re:Transactional Currency, not Safe Haven Storage (4, Insightful)

Anonymous Coward | about 2 years ago | (#43265967)

You have a PROFOUND ignorance of economics, governance and politics.
Or, you've been steeped in the Fox Network view of the world.

Re:Transactional Currency, not Safe Haven Storage (1)

fredprado (2569351) | about 2 years ago | (#43265997)

Or maybe you do...

Re:Transactional Currency, not Safe Haven Storage (0)

Anonymous Coward | about 2 years ago | (#43266085)

all modern currecy is by fiat. its all based on debt (my country the act was in the sixties) banks make money by lending non existent money. thats how it works. bitcoin takes it back to gold-standard, sort of. which i find huge problems with, but no economic system is perfect. but letting banks make money from nowhere only reigned in by the fed via fractional reserve or the prime

incorrect meganaught

Re:Transactional Currency, not Safe Haven Storage (0)

Anonymous Coward | about 2 years ago | (#43266087)

As long as the United States uses it's military might to ensure that all OPEC oil transactions happen in dollars, the dollar is essentially backed by oil.

Science versus Economics (1)

Okian Warrior (537106) | about 2 years ago | (#43266017)

One of the best features of science is that it allows us to make predictions.

For example, to calculate the trajectory of a cannonball we do not need an almanac of cannonball weights cross-referenced by gunpowder loads and indexed by cannon type. We have a handful of formulas for the future behaviour of any projectile based on simple measurements - mass, force, air resistance, and so on. The formulas work for cannonballs as well as electrons as well as planets.

The science of economics also brings us simple formulas which allow us to calculate the precise trajectory of the economy. Such calculations were used by economists of the early 2000's to predict and avert what would have been the worst depression in the history of the US. All the top-level economists were in agreement, who further suggested minor changes in the regulatory structure which are predicted to avoid any such event in the future.

"It would have been obvious in retrospect" said one leading economist.

Unlike gold or silver, bitcoins don't even have a vague amount of price stability that lets them be a store for value. They're purely transactional currency, designed to be hard enough to make that their value probably won't change very much very fast, but easy enough to make that the quantity can expand to support a growing market (at least for a while.) ...

Yet another triumph for the science of economics! Instead of vague storytelling such as would be expected from Astrology or Chiromancy, the author outlines a set of assumptions and real-world measurements, then predicts future behaviour using well-established principles and relationships.

His logic is impeccable, the only way to dispute his position is to attack the underlying assumptions. His model clearly predicts that BitCoins are not now and can never be a valid currency, and his position is supported by all the major economists.

Everyone should immediately stop thinking about BitCoins and apply their efforts to something more useful.

I'm convinced! How about you?

Re:Science versus Economics (1)

maxwell demon (590494) | about 2 years ago | (#43266191)

One of the best features of science is that it allows us to make predictions.

For example, to calculate the trajectory of a cannonball we do not need an almanac of cannonball weights cross-referenced by gunpowder loads and indexed by cannon type. We have a handful of formulas for the future behaviour of any projectile based on simple measurements - mass, force, air resistance, and so on. The formulas work for cannonballs as well as electrons as well as planets.

The formulas decidedly do not work for electrons. That's why quantum mechanics was introduced (that, and the fact that light also doesn't always behave like Maxwell's formulas say).

Re:Transactional Currency, not Safe Haven Storage (0)

Anonymous Coward | about 2 years ago | (#43266045)

Volatile??? Have you even been following bitcoin over the past 2+ years? What other new currency has this kind of upward trend?


Re:Transactional Currency, not Safe Haven Storage (2)

0-9a-zA-Z_.+!*'()123 (266827) | about 2 years ago | (#43266201)

Aren't you essentially arguing that they are backed by the transactional value of the drug exchange? Which is to say it's backed not by a commodity but by a service.

Decentralized Currency vs Centralized People (0)

Anonymous Coward | about 2 years ago | (#43265775)

Bitcoin is just a protocol, a tool, people are controlled by their respective government, so you either follow the rules that your government puts forward or you don't, some people like their governments, some people don't like other governments, and some people don't like any government, bitcoin doesn't care.

I guess the drug addicts will be upset (-1)

Anonymous Coward | about 2 years ago | (#43265779)

Probably regulation is bad news for potheads and meth addicts that use BitCoin to buy drugs.

Then again they are a worthless and disposable part of society, so it doesn't really matter.

What is their to spoil? (-1, Troll)

wisnoskij (1206448) | about 2 years ago | (#43265783)

There is nothing to spoil, Bitcoins are already as stupid as they could possibly ever be.

Re:What is their to spoil? (0)

Anonymous Coward | about 2 years ago | (#43265863)

As opposed to the USA government which keeps printing money and de-valuating its own currency?

Re:What is their to spoil? (0)

Anonymous Coward | about 2 years ago | (#43265895)

Not opposed, but in addition to.

Re:What is their to spoil? (4, Interesting)

Trepidity (597) | about 2 years ago | (#43265931)

In what sense has U.S. currency been devalued? Its real purchasing power has remained quite strong over the past few decades; there hasn't been a significant erosion of real purchasing power (i.e. high inflation) since the late-70s/early-80s period of inflation.

Re:What is their to spoil? (0)

Anonymous Coward | about 2 years ago | (#43266197)

Its real purchasing power has remained quite strong over the past few decades; there hasn't been a significant erosion of real purchasing power (i.e. high inflation) since the late-70s/early-80s period of inflation.

Where have you been exactly where what you have said is true? Do you buy your own groceries? Either the price for most goods have gone up either by a face value increase the product or the quantity has been reduced.

If your are going to point the CPI has evidence, don't bother it's a flawed stat.

Re:What is their to spoil? (1, Insightful)

Anonymous Coward | about 2 years ago | (#43265983)

The US dollar is indeed being devalued, but bitcoin is very nearly totally worthless.

Can I pay for my food at the grocery with it? No.
Can I pay my rent with it? No.
Can I pay ANY of my monthly bills with it? No.
Can I spend them at the local used game store? No.
Can I buy any of the stuff I buy on Amazon.com with them? No.
Can I deposit them in my 401k and have them managed with the rest of my assets? No.
Can I trade them to my next door neighbor for his help fixing my car? No.

They're worthless in the real world.

Re:What is their to spoil? (1)

Bengie (1121981) | about 2 years ago | (#43266099)

Same thing could be said about the dollar bill at some point in time.

Re:What is their to spoil? (1)

Anonymous Coward | about 2 years ago | (#43266261)

Same thing could be said about the dollar bill at some point in time.

When dollars can not be used to pay for things, they will be as worthless as bitcoins. Until then, they are worth infinitely more. There is no remotely concevable set of events that would cause dollars to unusable as payment, and bitcoins to be usable. So, while you can say it, it is not actually true.

Re:What is their to spoil? (1)

Detritusher (1031752) | about 2 years ago | (#43265959)

I'm guessing you work at the checkout lane at Walmart?

Currency Freedom? (1)

Anonymous Coward | about 2 years ago | (#43265793)

Perhaps someone has been trying to sell you snake oil too. Currencies when not controlled by the state have always ended up being controlled by the oligarcy; the invested minority. Once they control the production of currency, they control everything. Look at what happened in the past with gold and silver standards.

And yes, this is socialism, which is a good word anywhere in the world except for the US and among said oligarchs. If governments control the currency at least we still have a semblance and will to control the government. We would have no control over private business interests monopolizing our currency.

Re:Currency Freedom? (1)

Anonymous Coward | about 2 years ago | (#43265923)

I don't know about your "always", but have you noticed that the US dollar is not, in actual fact and despite appearances, controlled by the US government?

On another note, I don't think you understand what "socialism" means, painting you an American[tm].

The answer would seem to be yes. (0)

Anonymous Coward | about 2 years ago | (#43265795)

Yet a very compelling argument could be made for no.

Every innovation took root in an illegitimate environment, whether in service to vice, war, or simply struggling against its own irrelevancy as an apparent waste of time to the common zeitgeist. But having sprouted, these ideas are limited without receiving greater sunlight. Ah, but this means the innovations are now out of doors, and must be pruned and otherwise kept up to a public standard -- they may thrive, become uniquitous even, but at the cost of being planted in an orderly fashion.

Can BitCoin grow under public scrutiny? I'd argue that's the only way it can grow. But at the same time, it can only grow so tall, or perhaps wide, without people going "Damn, your BitCoin's starting to become a nuisance, and I think there's some bees in it." You can try explaining that bees don't build nests, hornets do, and even though they're some stingy bastards they do keep the mosquito population in check. It doesn't matter.

the perfect Salon story (0)

Anonymous Coward | about 2 years ago | (#43265797)

This is the sort of topic for which Salon was invented to cover.

No need to worry (1)

Anonymous Coward | about 2 years ago | (#43265799)

Will Legitimacy Spoil Bitcoin?

No need to worry, I'm sure Bitcoin won't become a legitimate currency any time soon.

Seriously, how can something with price fluctuations of 10% on a daily basis be a "perceived safe haven"? Keeping them for any length of time in this nasty, volatile bubble is a gamble.

Re:No need to worry (1)

Anonymous Coward | about 2 years ago | (#43266053)

Maybe it's all the other currency that have fluctuated by 10% and bitcoin was stable.

Bitcoing needs regulation protectoin form Ponzi (1)

Rashkae (59673) | about 2 years ago | (#43265825)

I think more regulation on Bitcoin trades can only serve to help protect people from Ponzi schemes. No, I'm not like those other people who call Bitcoin a Ponzi, they are not. However, the exchanges that are now springing up are amost a perfect recipe for one. Someone sets up an exchange, pople open accounts to which they deposit money to engage in bitcoin trading, exchange operators help themselves to funds, either for operational expenses or to line their pockets, and instead back the accounts with bitcoin, bitcoin innevitably suffers a 'market correction,' there's a run on the cash accounts, and the exchange can't keep up with the cash withdrawals, voila, classic ponzi.

Re:Bitcoing needs regulation protectoin form Ponzi (0)

Anonymous Coward | about 2 years ago | (#43265845)

What you describe is commonly called a "bucket shop", and is somewhat different from a ponzi...

currencies are a function of physical force (0)

Anonymous Coward | about 2 years ago | (#43265861)

Bicoin will either be absorbed by an entity with the physical means to project force, ie a government or be eliminated in some manner. Orlin Grabbe tried a similar scheme (digital money trust) in the early 90s and suffered that fate, for the same reasons.

Of course government will want to regulate (0)

Anonymous Coward | about 2 years ago | (#43265877)

What we should ask ourselves, as people, not as techies, however, is just how much regulation currency really needs. I for me think that for various reasons (anti-drug wars, anti-terrorism wars, and so on) the financial industry has become more of a control tool of than a service to its users. The big players get by, the little ones, not nearly as much. bitcoin is a useful tool, and it'll likely survive even heavy regulation. This simply because its nature makes it hard to regulate, except where it interfaces with other currencies, that is, at the fringes.

What regulation will do, however, is criminalise the fringes and invite more crime there; identity theft to ensure access to exchanges, money muling, that sort of thing. The net effect of all that regulation and its side effects is increased cost, directly and indirectly, that is invariably borne by the people that're supposed to be protected. Thus, just sucking bitcoin into the morass of red tape will not achieve much at all. Better to rethink the regulation, but given the state of government, that won't happen.

Thus, regulation will be the cause of crime, yet it'll be bitcoin that'll get blamed. That needs a strong marketeering offensive to offset. Best to get cracking if bitcoin is to survive.

Legitimacy (5, Insightful)

Grashnak (1003791) | about 2 years ago | (#43265897)

I can't question its legitimacy until I see some evidence that it has any.

Re:Legitimacy (-1)

Anonymous Coward | about 2 years ago | (#43265949)

You're a nutcase. If your irrational and hateful rant was true, then how did I read it? Does the monitor I bought with bitcoins not exist? In your world, your kind lies and claims that parts of the world do not exist. You should be locked-up to protect us rational people. And, yes. I can read what you typed because bitcoins are real, and they are used to buy real products like the monitor that you claim doesn't exist. It does. Why lie about it?

Re:Legitimacy (1)

Grashnak (1003791) | about 2 years ago | (#43265979)

Way to miss both the sarcasm and the point.

Re:Legitimacy (0)

Anonymous Coward | about 2 years ago | (#43266137)

once sentance is a rant, but a paragraph of slander is not

fucking morons

Re:Legitimacy (0)

Anonymous Coward | about 2 years ago | (#43266039)

sixty times more valuable than the USD :)

"it will be sucked into regulatory structures" (1)

John Hasler (414242) | about 2 years ago | (#43265909)

Yes, of course. Otherwise people would be doing things without permission.

Quantum computing and bitcoins? (2)

myowntrueself (607117) | about 2 years ago | (#43265919)

http://www.scienceworldreport.com/articles/5759/20130323/lockhead-martin-quantum-computer-speeds-through-problems-millions-times-faster.htm [scienceworldreport.com]

How fast could this thing mine bitcoins?

If one were a major superpower with access to this tech and if it could be used to produce huge amounts of bitcoins... and if one wanted to destabilise the virtual currency...

Re:Quantum computing and bitcoins? (0)

Anonymous Coward | about 2 years ago | (#43266015)

>> If one were a major superpower with access to this tech and if it could be used to produce huge amounts of bitcoins... and if one wanted to destabilise the virtual currency...

Can't be done. The presence of a powerful computer does not make more transaction blocks magically appear in the market for processing. The hypothetical super processor would just run out of work to do. They aren't really "mining" you know. They are validating transactions for a fee.

Re:Quantum computing and bitcoins? (4, Insightful)

Kal Zekdor (826142) | about 2 years ago | (#43266083)

The difficulty of mining bitcoins (and hence the speed that a given set of hardware mines bitcoins) is directly proportional to the amount of computing power mining bitcoins. If the amount of computational power in the system goes up, that means that (in the short term), the amount of bitcoins mined in a given period goes up. Every X number (I forget exactly how many) of blocks (the basic structure of bitcoin as a currency, currently each block "creates" 25 BTC, given to the block's solver. The amount of BTC earned per block is halved at distinct intervals, but that's not relevant here.), the bitcoin system (i.e., each client that is creating these blocks, as there is no central server) analyzes the length of time it took solve all X blocks. If that time is less than Y (again, don't recall the exact number, but I think it was a week), then the difficulty of mining blocks is increased by a proportional amount. If it was greater than Y, the difficulty is decreased.

What this all means is that if someone were to bring an astronomical amount of computing power to bear on mining bitcoins, the difficulty of mining bitcoins would automatically compensate, and the addition of new bitcoins into the marketplace would proceed at the same rate. Granted, the person at the head of all this computing power would be the recipient of most new bitcoins, but the currency would not be destabilized (at least through computing power alone.) There would be other things said person could do to destabilize bitcoins, though, through either Financial or Technical means. They could hoard all BTC they mine, causing the price of BTC to rise. They could sell BTC they mine at ridiculously low prices, causing the price of BTC to plummet. If they comprise more than 60% or so of all computing directed at bitcoin mining, they could hijack the blockchain, and would be able to spend bitcoins they don't own, or double spend their own bitcoins.

I'm fairly sure that anyone who attempts to hijack bitcoins through raw computing power would end up spending more on said computing power than they would earn from bitcoins. So unless a malicious billionaire or an intrepid hacker organization with a few supercomputers in their botnet decide one day that they really don't like bitcoins, it doesn't seem likely to happen.

Re:Quantum computing and bitcoins? (1)

Dr. Spork (142693) | about 2 years ago | (#43266205)

The problem isn't mining the bitcoins, it's cracking the crypto which encodes how many bitcoins you own. Cryptographic currencies are a bet premised on the expectation that cracking capacities won't increase very fast.

bitcoin alternatives will emerge (3, Interesting)

srk (49331) | about 2 years ago | (#43265941)

I think that a bunch of alternatives to bitcoin will eventually emerge so if government regulates one virtual currency there are going to be other safe havens.

Re:bitcoin alternatives will emerge (0)

Anonymous Coward | about 2 years ago | (#43266369)

Can't regulate bitcoin because they can't stop tor, or privaxy proxies (that you can run tor on in more freedom-loving countries.)

You don't have to work in the system to buy bitcoins. You can buy bitcoins with cash through another party that the government has no control over...

That is until there is 1 world government...

Why doesn't slashdot... (2)

Thrill Science (2845693) | about 2 years ago | (#43265981)

Why doesn't slashdot just post a topic each day that says simply "Bitcoin!!!!1!!" so we can read the same comments every day?

This seems relevant (1)

Jeremy Erwin (2054) | about 2 years ago | (#43266031)

Assassination Politics [cryptome.org] ., but does bitcoin have the necessary infrastructure?

If you don't want a currency with 'legitimacy' (0)

Anonymous Coward | about 2 years ago | (#43266117)

You're either a survivalist or you're trying to evade taxes or both. Either way, you're going to lose.

Personally I'd like to see all the libertarian no-government bitcoiners given some plot of land to make their little distopia. I'm guessing it would be a few months before they start blaming conspiratorial forces for their skyrocketing public health problems and miserable economy. It would be like a failed state, but with mentally unbalanced petit-bourgeois Americans.

shouldn't be up to the courts to decide (0)

Anonymous Coward | about 2 years ago | (#43266253)

If we as a consensus want to start trading internet meme pictures as a form of currency, then that would be our choice in the matter.

Why can't there be a new bitcoin tied to the $? (1)

Anonymous Coward | about 2 years ago | (#43266311)

One of the things that scream "illegitimate" about bitcoins are their speculative value. Why not create an alternate bitcoin, but tie its value to the dollar? It wouldn't have to be a 1:1 ratio, just track it. At least that way people won't worry about a bubble bursting in the middle of a transaction.

Defation (0)

Anonymous Coward | about 2 years ago | (#43266335)

At the moment Bitcoin are experiencing massive deflation making it a currency that imposes high costs on anyone contemplating spending Bitcoin.

It's all fun and games... (3, Insightful)

gatkinso (15975) | about 2 years ago | (#43266353)

..until it becomes actual money.

At that point the suits take control, and there is absolutely nothing you can do about it.

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