1,595 karma · joined February 29, 2012
I could be very wrong, but I feel more comfortable keeping as much code on the server as possible.
This future of no capitalism people want scares the heck out of me, almost makes everything I've worked for pointless.
Also when Satoshi left the development team in 2010 he could've been mining normally like everyone else, and he could have easily amassed 10,000+ Bitcoin in that time without it ever being linked to his early 1,000,000 coins.
I think it's likely Satoshi has cashed out millions of dollars worth of Bitcoin, just not from the pile of coins everyone is watching.
I once thought about storing information into the Bitcoin blockchain for another use case, but found out that very few nodes would actually store it.
For taking notes and digital art/illustration, these devices are amazing and I've been using my friends one a lot.
Even if all the other cloud sync companies have to hand over data to the US Government, at least they aren't being so blase about it by putting Rice on their board.
Doesn't that mean there is such a thing as cancer? Perhaps the final cure would be an augmented immune system that can tunnel to any area of the body and remove these cells. Something like nanobots I guess.
Although I do understand your point, that the several hundred forms of cancer in humans require radically different approaches for curing until nanobots.
Rice does not inspire confidence with a company handling private data.
There already exist pure POS coins, Nxt through a concept called transparent forging may be capable of resisting anything up to a 90% attack.
I'll have a read of this properly when I get home.
I believe that apart from Counterparty and ColoredCoins, Ethereum may also be able to run as a decentralized exchange in fact helping Bitcoin and the other Alternative coins.
I assumed a long time ago that eventually many of these coins will somehow tie into each other in the process of building the future foundations of a new decentralised internet. I think that time is coming.
Sidechains have issues in the current incarnation that we have been shown; they need to be mined and a 51% attack on Bitcoin will enable the miner to gain access to the coins that are in the Bitcoin blockchain waiting for release via the two way peg.
If these issues cannot be solved then Vitalik may be correct that Ethereum based side chains might actually be a better way as it seems Ethereum is designed to handle this type of advanced contract.
Either way, whatever coin (bitcoin or ether) implements these side chains safely and correctly will likely win as being the foundation for the future of cryptocurrency/platforms.
The side chain idea allows the native cryptocurrency to compete and win out over other competitors. Want faster confirms? Use side chains. Want Zerocash anonymous transactions, peg into Zerocash and peg back out again. I believe the future will be a battle between Bitcoin and Ethereum with a major war zone being sidechains.
Also consider this: If cryptocurrency can have on top of itself many other applications built (decentralised: {web hosting,web app hosting, databases, information, computing engines: {search, math, compute}, contracts, code}) then does that coin itself eventually gain 'intrinsic' value via being the foundation of all these new systems?
Imagine a TOR that is based entirely on the greed incentive and not just good will, where the entire system is an Ethereum contract. Imagine an open source google search where the code is run entirely on top of the nodes and each search costs 1 cent in ether to be paid to the nodes for hosting and running the code.
If this happens, that coin becomes pegged to a brand new internet running on top of blockchains. Just something to think about.
It's a pest when you post something only to realise a little while later that perhaps it should have been written differently or not written at all.
Happens to me all the time.
A $5,000 AWS instance would mine about $1 worth of bitcoin and would not be worth the time logging into someones account.
They won't be hurt for a long time.
Mind you, your point is certainly valid if this were a random hacker type.