Online Cash Bitcoin Could Challenge Governments, Banks

There's a disconnect in your reasoning.

There are many hosted and virtual servers in Germany. And some (perhaps most) of them are managed and used by people from other countries.

 

The hosted part is understood. It is just a hunch, a gut feeling. Why Germany? There are many other countries to choose from. Think about it and it all makes sense. Hope you are right about the "disconnect". Same story about TrueCrypt, BTW. Am old enough to know our snake oil merchant friends.

 

Responding to senator’s bid to ban Bitcoin, congressman calls for cash ban.

-- Tom

 

REPORT: BITCOIN INVENTOR HAS BEEN FOUND.

-- Tom

 

Satire aside, efforts to eliminate cash are underway

 

http://www.forbes.com/sites/andygre...in-apps-soon-to-run-on-tor-anonymity-network/

 

Some Of The First Footage Of The Reclusive Bitcoin Creator.

-- Tom

 

Nakamoto Named as Bitcoin Father Denies Involvement, Flees

 

Bitcoin Foundation sees ‘zero conclusive evidence’ of founder’s identity.

-- Tom

 

Yeah, cuz if I wanted to remain anon, I'd use my real name...

 

Nah, looks like it's not him:

If this is true things could get ugly for Newsweek.

 

I wonder how many "Satoshi Nakamoto"s there are in the US. Or in the world.

I'm guessing that there are a lot.

And anyway, why does it matter, at this point?

 

http://www.reuters.com/article/2014/03/11/us-bitcoin-karpeles-idUSBREA2A1VM20140311

 

Why Dorian Nakamoto Probably Isn’t Satoshi.

-- Tom

 

IMO, Bitcoin has been all but destroyed as a currency. Because of its fluctuating and often increasing value, it's become more of a commodity. I question how much long term value a completely intangible commodity can have. IMO, an alternate currency like Bitcoin would have a better chance of surviving as a currency if its value is fixed and not based on the value of another currency, especially dollars. With a stable value, there'd be little inventive to hoard it.

 

I've felt for a while that it wasn't going to go anywhere, but good luck getting people to believe it. It's become a joke, with even the respected ArsTechnica site recently creating its own (completely valueless and for fun as they readily admit) version. It wasn't supposed to be a fad, but with the various knockoffs that have been created, that's what it has become. Between the hoarders, a new version being created what seems like weekly and the massive failures of places like Mt Gox, the coins own supporters have screwed it. No regulation, no stability, too little security oversight, hoarding, all these things are as close to dooming these currencies as can be.

There was a glimmer of hope when the government slightly began to accept that the currency had possibilities and might be able to be regulated and recognized. However, in recent weeks they've changed their tune and admitted that they can't, at least for now. By the time the proper legislation and other necessary things are put in place to do so, digital currency may be "so 2013/2014". I've read and listened to all the arguments put forth for its success, including our respected Mirimir. But I'm just not buying what they are selling. There are just too many negatives and not enough positives for this thing to survive, never mind thrive.

 

MtGox knowingly traded non-existent bitcoins for two weeks, filing shows.

-- Tom

 

LIke so many good things, what is killing Bitcoin is greed, pure and simple. In order for Bitcoin to succeed, it has to be an exchange medium only. Not a commodity, not a collectible. The ability to profit directly from its existence or value has to be eliminated. Right now, it's got many of the same problems as normal currency and rare commodities like gold. Using gold and the dollar as examples, neither ones value is based on anything concrete. Often the value of one is expressed by a quantity of the other. When gold doubles in dollar value, does that mean it's worth twice as much or has the dollar lost half of its value? Bitcoins value should be based on something stable and common, not the value of other fluctuating currencies or commodities.

 

There is massive demand for independent online cash. None of the legacy value-exchange systems are workable in the global Internet context. Expectations have changed irrevocably. Bitcoin is a prototype. And there are bugs. It may evolve fast enough to survive, or it may get displaced by something better. For now, it works well enough

 

Well, he's an investor/speculator, so that's what he looks for.

Some of us just want to sell and buy stuff, in a modest way.

 

How Bitcoin Cyberpunk'd Us.

-- Tom

 

New Bitcoin glitch: Blockchain suffers hours-long outage.

-- Tom