Online Cash Bitcoin Could Challenge Governments, Banks

Just read the article and was going to post the link. Hard to beat ronjor on posting any significant news story

I found the article to be very interesting and informative - fascinating. A great read particularly for those unfamiliar with the pre-history of Bitcoin, it's early development, and speculation as to it's creator(s)'s identity. An excellent read.

 

Ditto

 

"Bitcoin is inching closer to legitimacy.

The digital currency reached an important milestone Monday as the first regulated bitcoin-based security began trading in Stockholm.

Bitcoin Tracker One, the name of the security, rose in its first trading session, finishing at 9.73 krona, compared with an opening value of 9.69, according to data on Nasdaq OMX Nordic’s website. The security is listed on Nasdaq’s Stockholm-based exchange..."

http://www.marketwatch.com/story/bi...ilestone-in-its-road-to-legitimacy-2015-05-18

 

Bitcoin's baby: Blockchain's 'tamper-proof' revolution.

-- Tom

 

Tom,

What you highlighted above is true. My counter argument is that for early adopters of bitcoin the $250.00 per coin is pretty nice compared to under ten cents in 2009. So its relative. I truly see a future where BTC becomes mainstream, but I guess we'll have to wait and see.

 

Right. But for mainstream adoption, it doesn't really matter what the price is. What matters is that the price is long-term stable. Also, it's pretty clear now that Mt Gox (or whoever may have hacked it) was driving the bubbles.

 

Crypto flaws in Blockchain Android app sent bitcoins to the wrong address.

-- Tom

 

Wow

Another win for Android

 

I'll stick with my offline linux transaction machine. Obviously, I have to use my online linux machine to send the transactions once they are generated. Call me just too conservative, but I have never trusted mobile devices with anything requiring TRUE security. Go ahead android guys, blast away. I do carry and use android for a ton of stuff just not things I want secure.

 

How the Tech Behind Bitcoin Could Stop the Next Snowden.

-- Tom

 

I like that, with my defender hat on

 

An empirical study of Namecoin and lessons for decentralized namespace design.

-- Tom

 

As a blockchain observer and bitcoin user let me offer the counter argument.

Paste from article:

It keeps honest people honest,” he says. “It makes it impossible for them to lie.”

End of paste.

That door swings both ways. There would be NO way to falsify the data blockchain or edit it meaningfully by the Gov either. Do you see our Gov wanting all the NSA records and stuff in a "state" where nothing can be swept under the carpet or hidden from examination. Meaning any changes to the blockchain (it might go by a different name but its the same thing) would be fully traceable.

This example is just that, please don't jump on a political bandwagon here; lets say such a system was in play during the current Hillary Clinton email fiasco that is in the news. Such issues would be moot because any email/data in a blockchain is forever there and can be viewed by anyone with access to the blockchain. The Admins/Congress get granted access and its all there 100%. Not just this example but all the Gov stuff.

I guess I am saying that in order to prevent Ed S as described above they would be required to "pin" their own stuff to virtually eternal scrutiny and I don't see that being acceptable to them. My .02

 

Everything old is new again: Man mugged in New York, only this time for his Bitcoins • The Register

 

I can say that as for myself; I will pay the nominal fee to transact through an escrow online account. Then immediately my coins are mixed to waiting anonymous wallets. "Craigslist" - no thanks for over 1000.00 bucks. Maybe if we did the transaction inside our police station, and while you may laugh, they encourage that around here for any Craigslist trades. The local "boys" will actually have an officer stand there while the trade is made -- not kidding.

Example: I am buying a $75.00 bike for my kid. If the seller won't come to the curb in front of the police station there must be something wrong. Pass in that case! I have never had anyone not appreciative of the additional safety, and since its only a few minutes away we both win!!

 

OK, so why is someone like this writing about cryptocurrencies? Why would I bother reading after a lede like that?

 

OpenBazaar is bitcoin taken to its logical conclusion.

-- Tom

 

OpenBazaar is a very intriguing concept. While I'm not clear where the content would be stored, I'm guessing some mix of Freenet, Tahoe-LAFS and BitTorrent. But hey, I could just check out their site

Regarding the issue of illegal stuff, they could have selectable channels, so at least users could avoid seeing unwanted stuff. Maybe there could even be some way to avoid helping to host that stuff. But that might break any anonymity provided by Tor or whatever.

Also, as I've been saying for years, anonymous online markets are fatally flawed by the need for users to provide snailmail addresses. That's how the FBI nailed the Silk Road admin, who then became the key to take Ross down. How can snailmail addresses be anonymized? I don't know, but that's the killer app (no pun intended) that's missing.

 

On maybe a scary note:

More Bitcoin Battles for Control and Process ... Blocksize
-- https://cpunks.org/pipermail/cypherpunks/2015-June/007874.html
-- https://cpunks.org/pipermail/cypherpunks/2015-June/007875.html

[Bitcoin-development] questions about bitcoin-XT code fork & non-consensus hard-fork
-- https://cpunks.org/pipermail/cypherpunks/2015-June/007885.html

 

Just what we need is a major software to "team" with banks for tracking wallet owners!

http://99bitcoins.com/elliptic-claims-to-have-software-able-to-track-specific-bitcoin-wallets/

Code is not out for analysis yet - that I can find. Why is it that Gov just has to control everything, which is the logical outcome if this software project is fully successful?