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Bitcoin: Does it have a future ?
Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Manhattan U.S. Attorney Announces Charges Against Bitcoin Exchangers, Including Ceo Of Bitcoin Exchange Company, For Scheme To Sell And Launder Over $1 Million In Bitcoins Related To Silk Road Drug Trafficking - http://www.wired.com/bey...hern-district-new-york/
This bitcoin drama... More than meets the eye. At some point the real story will come out then we can see wthether it's the rebels or the emperor that will be naked... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Member Joined: 7/1/2008 Posts: 323
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I am not an expert and will not offer educated analysis of why i have arrived at this observation but i know the future when i see one.
This is the future, call it Bit-coin or whatever will come later.
Remember Napster? the company was closed due to illegal file sharing of audio files but we are still sharing e.g bit torrent, old skull.
No matter what the USA govt does or other govts does hard currency as a form of exchange will one day cease and be taken up by the stuff once considered the stuff of sci fi.
Banks will cease to be huge banking halls peopled with bank tellers ( a trend already happening) and be lodged on the website where you can do your transations automatically without referring to a person or necessitating face to face encounters.
In fact the chances of banks becoming irrelevant are real unless they start consolidating and start investing in web banking. we are witnessing this with Mpesa and mshwari in Kenya people are banking their money in phones "digits".
The other scenario is the governments will control all money exchange that go on in the internet which will be resisted legally and illegally.
A probable end scenario is a world central exchange (W.C.A) where all money transactions are carried out using secured codes.
IN future going to the banks will be archaic something to be watched in cyber museum how we used to waste time queuing to pay or receive money.
Advances in Artificial intelligence (A.I), faster secure communication links using the web will make the web really a web connecting us no matter where we are.
At first it will be probably chips implanted using nano technology.
Later biologically developed implants.
Lastly through genetic modification and cloning we will have extra sensory organs that make us have the ability to communicate (for the lack of a better word )"telepathically".
Then we will have a race that is able to communicate with each other without the use of gadgets. It will be as natural as breathing, a part of you that you don't even notice.
Naturally growing sensory organs that make it possible for us to communicate with the rest of the world. It will be a function that you are not even aware of, making it possible to communicate with someone in the arctic while in Mandera and place an order to supply water in form of ice bergs, pay by acknowledging receipt mentally and this information is loaded instantly to everyone in the world without even noticing it until the day you want to do a transaction with one of the parties.
once you initiate contact you will AUTOMATICALLY know their worth without referring to any form of database as all this is lodged in your brain.
This knowledge will be known by everyone IN THE WORLD i.e Goods supplied, value of goods, acceptance of goods and value of parties (net worth). In the end eliminating the need of MONEY.
This will necessitate a change in our values about privacy.
Bit coin and its future off-springs are the way of the future.
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Rank: Member Joined: 2/20/2008 Posts: 84
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jokes wrote:I am not an expert and will not offer educated analysis of why i have arrived at this observation but i know the future when i see one.
This is the future, call it Bit-coin or whatever will come later.
Remember Napster? the company was closed due to illegal file sharing of audio files but we are still sharing e.g bit torrent, old skull.
No matter what the USA govt does or other govts does hard currency as a form of exchange will one day cease and be taken up by the stuff once considered the stuff of sci fi.
Banks will cease to be huge banking halls peopled with bank tellers ( a trend already happening) and be lodged on the website where you can do your transations automatically without referring to a person or necessitating face to face encounters.
In fact the chances of banks becoming irrelevant are real unless they start consolidating and start investing in web banking. we are witnessing this with Mpesa and mshwari in Kenya people are banking their money in phones "digits".
The other scenario is the governments will control all money exchange that go on in the internet which will be resisted legally and illegally.
A probable end scenario is a world central exchange (W.C.A) where all money transactions are carried out using secured codes.
IN future going to the banks will be archaic something to be watched in cyber museum how we used to waste time queuing to pay or receive money.
Advances in Artificial intelligence (A.I), faster secure communication links using the web will make the web really a web connecting us no matter where we are.
At first it will be probably chips implanted using nano technology.
Later biologically developed implants.
Lastly through genetic modification and cloning we will have extra sensory organs that make us have the ability to communicate (for the lack of a better word )"telepathically".
Then we will have a race that is able to communicate with each other without the use of gadgets. It will be as natural as breathing, a part of you that you don't even notice.
Naturally growing sensory organs that make it possible for us to communicate with the rest of the world. It will be a function that you are not even aware of, making it possible to communicate with someone in the arctic while in Mandera and place an order to supply water in form of ice bergs, pay by acknowledging receipt mentally and this information is loaded instantly to everyone in the world without even noticing it until the day you want to do a transaction with one of the parties.
once you initiate contact you will AUTOMATICALLY know their worth without referring to any form of database as all this is lodged in your brain.
This knowledge will be known by everyone IN THE WORLD i.e Goods supplied, value of goods, acceptance of goods and value of parties (net worth). In the end eliminating the need of MONEY.
This will necessitate a change in our values about privacy.
Bit coin and its future off-springs are the way of the future. ...and then the world as we know it will END.  Life and beer are very similar........chill for best results.
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Rank: Member Joined: 8/17/2011 Posts: 207 Location: humu humu
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jokes wrote:
I am not an expert and will not offer educated analysis of why i have arrived at this observation but i know the future when i see one.
This is the future, call it Bit-coin or whatever will come later.
Remember Napster? the company was closed due to illegal file sharing of audio files but we are still sharing e.g bit torrent, old skull.
No matter what the USA govt does or other govts does hard currency as a form of exchange will one day cease and be taken up by the stuff once considered the stuff of sci fi.
Banks will cease to be huge banking halls peopled with bank tellers ( a trend already happening) and be lodged on the website where you can do your transations automatically without referring to a person or necessitating face to face encounters.
In fact the chances of banks becoming irrelevant are real unless they start consolidating and start investing in web banking. we are witnessing this with Mpesa and mshwari in Kenya people are banking their money in phones "digits".
The other scenario is the governments will control all money exchange that go on in the internet which will be resisted legally and illegally.
A probable end scenario is a world central exchange (W.C.A) where all money transactions are carried out using secured codes.
IN future going to the banks will be archaic something to be watched in cyber museum how we used to waste time queuing to pay or receive money.
Advances in Artificial intelligence (A.I), faster secure communication links using the web will make the web really a web connecting us no matter where we are.
At first it will be probably chips implanted using nano technology.
Later biologically developed implants.
Lastly through genetic modification and cloning we will have extra sensory organs that make us have the ability to communicate (for the lack of a better word )"telepathically".
Then we will have a race that is able to communicate with each other without the use of gadgets. It will be as natural as breathing, a part of you that you don't even notice.
Naturally growing sensory organs that make it possible for us to communicate with the rest of the world. It will be a function that you are not even aware of, making it possible to communicate with someone in the arctic while in Mandera and place an order to supply water in form of ice bergs, pay by acknowledging receipt mentally and this information is loaded instantly to everyone in the world without even noticing it until the day you want to do a transaction with one of the parties.
once you initiate contact you will AUTOMATICALLY know their worth without referring to any form of database as all this is lodged in your brain.
This knowledge will be known by everyone IN THE WORLD i.e Goods supplied, value of goods, acceptance of goods and value of parties (net worth). In the end eliminating the need of MONEY.
This will necessitate a change in our values about privacy.
Bit coin and its future off-springs are the way of the future.
that part of telepathy is too much!
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Rank: Member Joined: 7/1/2008 Posts: 323
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kaifastus wrote:jokes wrote:
I am not an expert and will not offer educated analysis of why i have arrived at this observation but i know the future when i see one.
This is the future, call it Bit-coin or whatever will come later.
Remember Napster? the company was closed due to illegal file sharing of audio files but we are still sharing e.g bit torrent, old skull.
No matter what the USA govt does or other govts does hard currency as a form of exchange will one day cease and be taken up by the stuff once considered the stuff of sci fi.
Banks will cease to be huge banking halls peopled with bank tellers ( a trend already happening) and be lodged on the website where you can do your transations automatically without referring to a person or necessitating face to face encounters.
In fact the chances of banks becoming irrelevant are real unless they start consolidating and start investing in web banking. we are witnessing this with Mpesa and mshwari in Kenya people are banking their money in phones "digits".
The other scenario is the governments will control all money exchange that go on in the internet which will be resisted legally and illegally.
A probable end scenario is a world central exchange (W.C.A) where all money transactions are carried out using secured codes.
IN future going to the banks will be archaic something to be watched in cyber museum how we used to waste time queuing to pay or receive money.
Advances in Artificial intelligence (A.I), faster secure communication links using the web will make the web really a web connecting us no matter where we are.
At first it will be probably chips implanted using nano technology.
Later biologically developed implants.
Lastly through genetic modification and cloning we will have extra sensory organs that make us have the ability to communicate (for the lack of a better word )"telepathically".
Then we will have a race that is able to communicate with each other without the use of gadgets. It will be as natural as breathing, a part of you that you don't even notice.
Naturally growing sensory organs that make it possible for us to communicate with the rest of the world. It will be a function that you are not even aware of, making it possible to communicate with someone in the arctic while in Mandera and place an order to supply water in form of ice bergs, pay by acknowledging receipt mentally and this information is loaded instantly to everyone in the world without even noticing it until the day you want to do a transaction with one of the parties.
once you initiate contact you will AUTOMATICALLY know their worth without referring to any form of database as all this is lodged in your brain.
This knowledge will be known by everyone IN THE WORLD i.e Goods supplied, value of goods, acceptance of goods and value of parties (net worth). In the end eliminating the need of MONEY.
This will necessitate a change in our values about privacy.
Bit coin and its future off-springs are the way of the future.
that part of telepathy is too much! If you notice I used the telepathy for a lack of a better word.
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Rank: Elder Joined: 5/21/2013 Posts: 2,841 Location: Here
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iMANI wrote:jokes wrote:I am not an expert and will not offer educated analysis of why i have arrived at this observation but i know the future when i see one.
This is the future, call it Bit-coin or whatever will come later.
Remember Napster? the company was closed due to illegal file sharing of audio files but we are still sharing e.g bit torrent, old skull.
No matter what the USA govt does or other govts does hard currency as a form of exchange will one day cease and be taken up by the stuff once considered the stuff of sci fi.
Banks will cease to be huge banking halls peopled with bank tellers ( a trend already happening) and be lodged on the website where you can do your transations automatically without referring to a person or necessitating face to face encounters.
In fact the chances of banks becoming irrelevant are real unless they start consolidating and start investing in web banking. we are witnessing this with Mpesa and mshwari in Kenya people are banking their money in phones "digits".
The other scenario is the governments will control all money exchange that go on in the internet which will be resisted legally and illegally.
A probable end scenario is a world central exchange (W.C.A) where all money transactions are carried out using secured codes.
IN future going to the banks will be archaic something to be watched in cyber museum how we used to waste time queuing to pay or receive money.
Advances in Artificial intelligence (A.I), faster secure communication links using the web will make the web really a web connecting us no matter where we are.
At first it will be probably chips implanted using nano technology.
Later biologically developed implants.
Lastly through genetic modification and cloning we will have extra sensory organs that make us have the ability to communicate (for the lack of a better word )"telepathically".
Then we will have a race that is able to communicate with each other without the use of gadgets. It will be as natural as breathing, a part of you that you don't even notice.
Naturally growing sensory organs that make it possible for us to communicate with the rest of the world. It will be a function that you are not even aware of, making it possible to communicate with someone in the arctic while in Mandera and place an order to supply water in form of ice bergs, pay by acknowledging receipt mentally and this information is loaded instantly to everyone in the world without even noticing it until the day you want to do a transaction with one of the parties.
once you initiate contact you will AUTOMATICALLY know their worth without referring to any form of database as all this is lodged in your brain.
This knowledge will be known by everyone IN THE WORLD i.e Goods supplied, value of goods, acceptance of goods and value of parties (net worth). In the end eliminating the need of MONEY.
This will necessitate a change in our values about privacy.
Bit coin and its future off-springs are the way of the future. ...and then the world as we know it will END.  Life is like playing a violin solo in public and learning the instrument as one goes on.
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Rank: Member Joined: 7/1/2008 Posts: 323
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iMANI wrote:jokes wrote:I am not an expert and will not offer educated analysis of why i have arrived at this observation but i know the future when i see one.
This is the future, call it Bit-coin or whatever will come later.
Remember Napster? the company was closed due to illegal file sharing of audio files but we are still sharing e.g bit torrent, old skull.
No matter what the USA govt does or other govts does hard currency as a form of exchange will one day cease and be taken up by the stuff once considered the stuff of sci fi.
Banks will cease to be huge banking halls peopled with bank tellers ( a trend already happening) and be lodged on the website where you can do your transations automatically without referring to a person or necessitating face to face encounters.
In fact the chances of banks becoming irrelevant are real unless they start consolidating and start investing in web banking. we are witnessing this with Mpesa and mshwari in Kenya people are banking their money in phones "digits".
The other scenario is the governments will control all money exchange that go on in the internet which will be resisted legally and illegally.
A probable end scenario is a world central exchange (W.C.A) where all money transactions are carried out using secured codes.
IN future going to the banks will be archaic something to be watched in cyber museum how we used to waste time queuing to pay or receive money.
Advances in Artificial intelligence (A.I), faster secure communication links using the web will make the web really a web connecting us no matter where we are.
At first it will be probably chips implanted using nano technology.
Later biologically developed implants.
Lastly through genetic modification and cloning we will have extra sensory organs that make us have the ability to communicate (for the lack of a better word )"telepathically".
Then we will have a race that is able to communicate with each other without the use of gadgets. It will be as natural as breathing, a part of you that you don't even notice.
Naturally growing sensory organs that make it possible for us to communicate with the rest of the world. It will be a function that you are not even aware of, making it possible to communicate with someone in the arctic while in Mandera and place an order to supply water in form of ice bergs, pay by acknowledging receipt mentally and this information is loaded instantly to everyone in the world without even noticing it until the day you want to do a transaction with one of the parties.
once you initiate contact you will AUTOMATICALLY know their worth without referring to any form of database as all this is lodged in your brain.
This knowledge will be known by everyone IN THE WORLD i.e Goods supplied, value of goods, acceptance of goods and value of parties (net worth). In the end eliminating the need of MONEY.
This will necessitate a change in our values about privacy.
Bit coin and its future off-springs are the way of the future. ...and then the world as we know it will END. The world as we know it ENDs every-time we sleep and wake up
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Rank: Member Joined: 8/16/2012 Posts: 661
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Why Mt. Gox, the World’s First Bitcoin Exchange, is DyingQuote:..Antonopoulos outlined what he believes to be the technical reasons behind the Gox freeze. The root of the problem lies in its decision to use a version of the bitcoin client it customised itself, rather than the standard client. As a result, Gox handles the protocol with some discrepancies.
One of those discrepancies, as Antonopoulos understands it, is the way transactions are propagated through the network. A miner on Gox, for example, will prematurely be credited for a new block before the network has a chance to confirm the transaction. As a result, when the transaction hits the bitcoin network to be corroborated, it is rejected. Gox’s solution is to cancel the initial transaction and resubmit it until it is approved.
“This is like putting a Band-Aid on the problem. Gox should not be generating non-standard transactions in the first place. Band-Aids like this will further exacerbate scalability problems,” Antonopoulos said... Quote:“I actually think, in the long run, this will be good for bitcoin because it will be clear to the world that there is an open invitation for true professionals to quickly dominate the bitcoin exchange industry.” Here is a golden opportunity for the 'techies' Live and learn; and don’t forget, nothing ventured, nothing gained.
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Rank: Member Joined: 8/16/2012 Posts: 661
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The coin prince: inside Bitcoin's first big money-laundering scandal Quote:Shrem is 5 feet 5 inches tall, full-bearded, and high-energy. He’s the kind of guy who likes to party and loves to organize events, but also goes to his parents’ house every Friday night for dinner. He started investing in Bitcoin as a senior at Brooklyn College, buying "many thousands" when the coins were around $3 or $4 each (they’re now over $800), but his notoriety didn’t come until BitInstant, the Bitcoin payments company he co-founded that was profitable almost from day one.
The first glimmering of BitInstant came on June 13th, 2011, when a part-time student named Gareth Nelson posted his idea for a fast pay service on the forums at Bitcointalk.org. At the time, buying and selling Bitcoin on major exchanges like Mt Gox could take as long as six days, in part because many banks take days to process transfers. Nelson thought he could speed this up by fronting the balance, then collecting a small fee for the trouble, enabling customers to receive their bitcoins on the same day even if they were using cash. Because Bitcoin transactions are irreversible, there was basically no risk. All he needed was some startup capital. "PM some more info," Shrem wrote back. "I could work with you." Live and learn; and don’t forget, nothing ventured, nothing gained.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Major Silk Road 2.0 hack costs bitcoin users millions of dollars - http://rt.com/usa/silk-r...k-bitcoin-millions-947/
The silk road fight continues... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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