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'Bitcoin is getting stronger, and is not going away'

TechCrunch: What’s Not Being Said About Bitcoin

Mt.Gox is gone. The one-time biggest Bitcoin exchange closed its doors this week and filed for bankruptcy this morning. Questions about the future of Bitcoin have once again been up-leveled to the headlines of nearly every major media outlet.

Over the past few weeks, we’ve seen a string of issues in the Bitcoin space, from the transaction malleability bug that ultimately closed Mt.Gox’s doors to a corresponding distributed denial of service (DDoS) attack that delayed transfers on multiple exchanges and services. These attacks, along with recent phishing scams and money-laundering arrests, have cast doubt on the Bitcoin space and caused consumer panic — which is fair.

But what hasn’t been communicated well is how those who are truly invested in the future of Bitcoin remain totally confident, because with every attack, breach, and arrest, Bitcoin is getting stronger and proving to consumers and businesses it is not going away.

Here is what is not being said about Bitcoin that should be.

Continue reading:
http://techcrunch.com/2014/02/28/whats-not-being-said-about-...



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Thanks for the homework

Thanks for the homework assignments

Dude,..

You are CONSTANTLY sniping at people with veiled ad homs towards anyone who dares to criticize anything about bitcoins. And you did it just now!

You are CONSTANTLY accusing people of being lovers of govt fiat money and that they are stupid if they don't think bitcoin is jesus. Ron Paul uses dollars. YOU use dollars. Rothbard used dollars. Jeff Tucker uses dollars.

Go look in a mirror instead of projecting your childishness and pettiness onto others. I am tired of seeing your narcissistic drivel.

Ron Paul says bitcoin isn't money but he is not for laws against stupidity and thinks people should be free to do stupid things. Very smart honorable people dislike bitcoin on technical non-personal merits. Grow up and start treating people better.

YOU are the frickin' the troll that hovers over every new bitcoin comment ready to attack people's character.

.
~wobbles but doesn't fall down~

Bro,..

"You are CONSTANTLY sniping at people with veiled ad homs towards anyone who dares to criticize anything about bitcoins. And you did it just now!"
not really dude. i try and only reply with ad hominems to ad hominems like when someone calls me a "sucker" or "narcissistic" or "troll" or "childishness and pettiness" "stupid" sh!t like that.

"You are CONSTANTLY accusing people of being lovers of govt fiat money and that they are stupid if they don't think bitcoin is jesus. Ron Paul uses dollars. YOU use dollars."
not really dude. i only shame btc trolls that claim to hate the fed yet prefer to transact in frn's. it just seems hypocritical to me and i'm glad ron paul supports the use of bitcoin to help end the fed.
http://money.cnn.com/2013/12/04/technology/bitcoin-libertarian/
the more ron paul has learned about bitcoin the more he likes it. just because he hasn't yet used it doesn't bother me. he would probably be the first person his age to do so.

"Very smart honorable people dislike bitcoin on technical non-personal merits."
and what would those technical merits be dude?

"YOU are the frickin' the troll that hovers over every new bitcoin comment ready to attack people's character."
Go look in a mirror instead of projecting your childishness and pettiness onto others. I am tired of seeing your narcissistic drivel.
You are CONSTANTLY sniping at people with veiled ad homs towards anyone who dares to criticize anything about (insert topic here). And you did it just now!

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

I call 'em the way I see 'em....

Many months back I opined that BitCoins were subject to theft, either by hack or by deliberate back door arrangement. I was told in rather impolite terms that the former was impossible and the latter unthinkable. I further opined that The State would not allow untraceable financial transactions. It seems that I was right on all three points. So my question to you is: Why do you keep touting BitCoins? In at $1000+ and trying to recoup your 'investment'? Sure I would liked to have bought BitCoins at a few bucks each, but even if I were so lucky, it would not change my assessment: Scam.

Leges sine moribus vanae

Nobody stated that exchanges

Nobody stated that exchanges couldn't be hacked or that backdoors in exchanges weren't possible. But you didn't talk about third party software, you were specifically talking about the bitcoin protocol itself. And yes, the first is unlikely (if they hack it, it's years off) and the latter is indeed impossible (open source).

As for the state, I do agree that bitcoiners underestimate their power somewhat. They could make things VERY difficult. But even so, I do believe crypto will prevail.

Anyways, I welcome criticism and have no problem with naysayers. But I would like it if people looked more into it, so they could atleast provide INFORMED criticism.

With all these BitCoins disappearing I don't know how you

could say that - and it's not only Mt. Gox. Open source don't mean squat. The exploit or back door could be right there under your nose and you wouldn't see it. It's not only the BitCoin 'protocol', there is the mining software as well (who's to say that the originators do not have a more efficient mining program)? An exploit there would be as damaging as one related to the 'block chain'. I was a computer professional for over 25 years and I have never seen a bug free program. Within an organization, all software developed is 'open source' (to the employees). This fact has never eliminated 'bugs' in my experience. Also different compilers produce different machine code (even the same compiler run with different options will do the same) so open source is no guarantee that the program will operate flawlessly under all circumstances. What I see is a lot of people who don't know squat about programming all of a sudden becoming experts on source code they have never seen and algorithms they don't understand. As they say in Vegas when you hand your money to the change girl, "Good Luck" (you will need it).

Leges sine moribus vanae

you got nothing

"I opined that BitCoins were subject to theft, either by hack or by deliberate back door arrangement"
the btc protocol has never been hacked and is open source so there are no back doors.

"The State would not allow untraceable financial transactions"
if they could shut btc down they would but they can't so they won't. they can try and regulate it for those who want to be regulated but that will only make btc stronger.

"It seems that I was right on all three points"
not even close.

"Why do you keep touting BitCoins?"
because i don't like transacting in fed bankster fiat and other technological reasons that are over your head.

"In at $1000+ and trying to recoup your 'investment'?"
i got in under $30 over a year ago but my average buy in is just under $100. i did sell some @ $1000+ though.

i've destroyed way smarter btc trolls than you on here so please do more research and stop wasting my time with weak-ass arguments.
you don't even have the technical knowledge to rise to the level of being called a btc troll. sorry to be so harsh but I call 'em the way I see 'em....

"Bitcoin is a techno tour de force.” Bill Gates, Founder of Microsoft

“Bitcoin is the most important invention in the history of the world since the internet.” ‐ Roger Ver, CEO of MemoryDealers.com

“Bitcoin is going to be a big player in the future of the exchange of goods and services.” ‐ Jennifer Shasky Calvery, the director of the Treasury Department's Financial Crimes Enforcement Network

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
Rand Paul 2016

No back door and never been hacked?

How do you know that? You don't, and I'll listen to Bill Gates when his multi-billion company with tens of thousands of employees delivers ANY bug free program or admits to installing back doors for the NSA - Whichever comes first.

But all this is irrelevant. The State will not allow BitCoin to function as you hope (anonymity and evasion of State regulation). The State controls the Internet. BitCoin cannot function without the Internet. If BitCoin survives at all, it will be taxed and regulated; Sender and recipient identified, information regarding the exchange forwarded to the proper authorities.

Leges sine moribus vanae

The bitcoins didn't "go away" any more than gold did when it

The bitcoins didn't "go away" any more than gold did when it crashed.

The market corrected about 50% from its peak. It washed out some of the froth. Prices will come back, stronger than before, after it is regulated and deemed "safe" by PTB.

All those paper FRNs have to go somewhere!

The Diamond Dog is a real cool cat. | Reporting on the world from an altitude of 420.