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Comment: A test of the principles (Score 4, Interesting) 132

by Rinisari (#46465523) Attached to: US Court Freezes Assets of Mt. Gox CEO

So this is actually a test of the one of the attractive principles of Bitcoin: no one can separate you from your money, assuming that you control your private keys. Karpeles isn't a complete idiot, so I'm certain the keys to what balance he himself maintains are safely stored somewhere only he knows (brain wallet?). So, assuming that he has substantial holdings in bitcoin, then what good does the asset freeze do? He is free to spend bitcoin, unless the asset freeze also prevents businesses from accepting money of any kind from him.

Same holds for the two companies, but they are much more likely to have a larger USD balance that is actually affected by the freeze.

Comment: Re:What's bzr? (Score 2) 252

by Rinisari (#45845533) Attached to: Emacs Needs To Move To GitHub, Says ESR

Bazaar. It's a VCS that Canonical developed. Why Switch to Bazaar?

IMO, the only things that Bazaar has up on Git these days is released, official support for Windows and thus better GUIs all around for all platforms. Git is still technically a pre-release for Windows. Bazaar is also purportedly better for binary files than Git, and allows downloads from any point in the history (instead of Git requiring that you download the whole repository history).

Comment: Reductio Ad Absurdum is not a defense (Score 3, Insightful) 132

by Rinisari (#45791475) Attached to: Millions of Dogecoin Stolen Over Christmas

All of this has happened before, and all of this will happen again.

At least this time it's of a currency worth very, very little, so losses aren't that great and there are even more great minds thinking about how to solve cryptocurrency security problems. The end-user human will always be the weakest link, and the trust that the end user places on others always the most vulnerable part.

Comment: Re:OMFG (Score 0) 691

by Rinisari (#45737293) Attached to: Why Charles Stross Wants Bitcoin To Die In a Fire

Blame government for treating Bitcoin as a commodity instead of as a currency

It's not a currency, you fucking retard. It is a commodity. The fact that it can lose--what are we at now--66% of it's value overnight pretty much makes it clear it isn't money, but rather a security. And a very volatile one at that.

Let's talk Greeks, Cypriots, Argentinians, Zimbabweans, and some others about currency value changes overnight.

Comment: Re:OMFG (Score 3, Insightful) 691

by Rinisari (#45737153) Attached to: Why Charles Stross Wants Bitcoin To Die In a Fire

I actually do have a sense of perspective, as blockchain growth is a frequent discussion topic among protocolists such as myself. It's a legitimate problem and it's something that is slowly working toward being solved with the advent of SPV clients and decentralized clients.

To say that Bitcoin will never be able to cope with the velocity and volume of transactions is to underestimate the technical ability of the entirety of the open source community, because Bitcoin is open to contributions from everyone, not some secluded banking group or government agency with selfish motives.

You also fail to account for Garzik's Theory, which states that a modification to the set of base facts (limits, hash algorithms, etc.) that comprise an alternative coin, such as Litecoin, Namecoin, and Primecoin, that causes that currency to challenge the value of Bitcoin can and likely will be adopted by every other currency. I mention Primecoin because it is doing something "externally useful" with its hashing, and that is to find prime numbers. If that work proves useful, then Bitcoin is free to adopt it, as well, of course only with the vote of 51% of the miners.

Moreover, it's not wasteful when someone is extracting value from it.

Comment: Re:OMFG (Score 3, Interesting) 691

by Rinisari (#45737047) Attached to: Why Charles Stross Wants Bitcoin To Die In a Fire

Hoarding a currency is natural when its purchasing power is increasing and there's nothing worth spending it on. Deflation makes people wiser spenders. Businesses and governments don't like this because they need cash flowing, and would rather devalue the currency to incent spending than produce products that people really want enough to spend their money.

We may have a philosophical difference here, so there's not a whole lot of point in going on at length.

"If it ain't broke, don't fix it." - Bert Lantz

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