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Comment: Re:I wish I'd saved that link (Score 1) 429

by pantaril (#46746015) Attached to: UN: Renewables, Nuclear Must Triple To Save Climate

We can not afford, on many levels, and do not need: nukes. This has been shown.

Maybe not for energy production on earth. But how would you propell space craft in deep space or a lander on dark side of the planet? How would you create elements needed in research, medicine etc. which are products of fission reactions?

I think it is foolish for greens to call for complete abandonment of nuclear technology. We certainly need to research and test it, we need to build specialized reactors for various purposes.

Comment: Re:Well actually he's pretty solidly anti-gun too. (Score 2) 234

by pantaril (#46591203) Attached to: Anti-Game-Violence Legislator Arrested, Faces Gun Trafficking Charges

Could we please stop with the endless pro-drug commentary? Not all of us are drug addicts, and it's tiresome when people like yourself have to bring up drug issues in nearly every thread. I know it's important to you, but normal people don't care about such matters.

If normal people realy don't care about such matters why are the drugs banned? Stop the ban on production and consumption of drugs and i'm sure the "drug addicts" will stop bothering you about it. If you realy don't care about it it should be no problem for you.

Comment: Re:how (Score 2) 275

by pantaril (#46591179) Attached to: Operation Wants To Mine 10% of All New Bitcoins

How do they know the current value of BitCoin? Who is considered the primary exchange now? Are there any that are considered even remotely trustworthy?

The value is determined on exchanges by suply and demand. You can use site like bitcoinaverage to get price index based on more exchanges and their volume.

There is no exchange considered primary at this time. The biggest ones are probably: bitstamp, btc-e, huobi and btcchina.

Comment: Re:I admire their spunk, but... (Score 4, Funny) 275

by pantaril (#46591161) Attached to: Operation Wants To Mine 10% of All New Bitcoins

When I see how much hardware and electricity is being wasted on these various mining processes, I can only shake my head.

The hardware and alectricity is no more wasted than hardware and electricity and employees used by your bank to secure your account.

I'm not sure when BTC is slated to have all of its coins mined, but it will be instructive to see what happens to it at that point.

The last BTC should be mined sometimes in 2140 but the miners will carry on because they are needed to verify transactions. The'll get their profit from transaction fees.

Comment: Re:Sour grapes (Score 1) 381

by pantaril (#46504469) Attached to: <em>Sons of Anarchy</em> Creator On Google Copyright Anarchy

However, no matter how optimistic you are, what becomes clear is that if copyright dies in a practical sense, you cannot make a living as an artist.

Well you can. For example if copyright is replaced with better government regulation which ensures money for artists without the unneeded and artificial limitation of sharing/copying.

Comment: Re:Anonymous cryptocurrency, who to trust? (Score 1) 228

by pantaril (#46448575) Attached to: Hackers Allege Mt. Gox Still Controls "Stolen" Bitcoins

Trust it to an exchange and you're basically no better off than trusting real money to a bank -- worse off, in fact, because the lack of regulations means that if the exchange takes your money and runs you're SOL, while if a bank takes your money and runs it will be reimbursed (up to a limit) courtesy of the FDIC. Keep it in an offline wallet and you can be sure that no banker can abscond with it, but now your life's savings are tied to a single, stealable object.

That's true... for now. I think it would be beneficial for bitcoin if deposit insurance in bitcoin banks was mandatory and that it will happen sooner or later if/when bitcoin gets more recognition. Also the way bitcoin works could be seen as advantage over the traditional money transfers (credit cards/wire transfers) where transaction could take months to irreversibly settle.

Also note that if you decide to safeguard your bitcoins yourself you are better off then with real cash/gold. You need to keep your private key and there are many m:n encryption schemes where you divide your key to N pieces and need at least M of them to assemble it back. Those pieces can then be distributed geographically and i think that the level of safety would be good enough. (Assembling the keys to withdraw from such wallet would be quite inconvenient but you could deposit at any time... good for long-term savings).

In the end, it's all about options and i think that bitcoin gives you more of them.

Comment: Re:Anonymous cryptocurrency, who to trust? (Score 1) 228

by pantaril (#46444237) Attached to: Hackers Allege Mt. Gox Still Controls "Stolen" Bitcoins

Given how easily it would be to get away with the theft of anonymous cryptocurrency, I am surprised there aren't far more 'hacks' where exchanges rob all they can from their customers then close up shop.

The answer is easy - both of our presumptions are wrong. Bitcoin is not annonymous (it's mostly pseudoannonymous, like credit cards) and it is not easy to get away with exchange robbery - it's crime and the users/law enforcment would be after you.

Comment: The article is full of errors (Score 4, Interesting) 228

by pantaril (#46444225) Attached to: Hackers Allege Mt. Gox Still Controls "Stolen" Bitcoins

The reporter probably doesn't understand what's going on at all.

1) the leaked data contains not only the mt.gox DB dump (which seems to be legit) but also the TibanneBackOffice.exe binary which is actualy malware which steals bitcoin wallets. So i wouldn't trust the hackers at all, they are scammers. See http://www.reddit.com/r/Bitcoi... for more details.
2) The article/the hackers claim that the mt.gox database dump shows that mt.gox should be in control of over 900k bitcoins and that it is an evidence that mt.gox is lying. Well it is evidence that the article/hackers don't understand anything. From the start, mt.gox is saying that because of a transaction malevability bug, their ballances in DB and their balances on their actual accounts were ouf of sync. This is the reason they didn't notice sooner. Their DB was showing everything was ok but in reality, their money was silently siphoned out of their accounts.
3) Karpeles (mt.gox owner) is probably staing silent because his lawayers told him so. Nothing unusual here.

Comment: Re:My guess (Score 1) 631

by pantaril (#46357593) Attached to: Ask Slashdot: Do You Still Trust Bitcoin?

Do you store your wealth in Beanie Babies, or use them as a means of payment?

No, because unlike bitcoin, they are not digital, cannot be sent over internet, are not decentralized and can be easily faked.

You talk about "store of value" and "payment network", but that's exactly what a currency is

Oh realy? So paypal is currency? gold, land or houses are currency? I don't think so.

Comment: Re:i trust nothing (Score 1) 631

by pantaril (#46355795) Attached to: Ask Slashdot: Do You Still Trust Bitcoin?

i would rather see platinum, gold, palladium and silver made in to coins and used as currency, at least the government can not counterfeit it like they do with the USD (QE infinity)

The government also can't counterfeit or print bitcoin, that is one if its main purpose. It's advantage over metal coins is obvious: it can be sent anywhere in the world via internet.

Comment: Re:My guess (Score 1) 631

by pantaril (#46355777) Attached to: Ask Slashdot: Do You Still Trust Bitcoin?

Not to mention that while national currencies can be manipulated to affect the economy, Bitcoin floats wherever the masses bid it up/down to. It has all of the instability with none of the control mechanisms and no underlying value. Meanwhile, Bitcoin is inherently deflationary. It's really a disaster of a currency in any financial sense. The only people touting it seem to be ideologues and get-rich-quick types.

Maybe the pople touting it understand what you obviously don't: bitcoin is much more then currency. Even if it fails as currency, it can be store of value, payment network or some other service which uses proof of work concept.

Comment: Re:My guess (Score 1) 631

by pantaril (#46355771) Attached to: Ask Slashdot: Do You Still Trust Bitcoin?

So there's the difference between bitcoin and national fiat currencies: national fiat currencies have as their commodity the mutual defense of the nation, which in turn makes for more reliable business, and thus profits.

With bitcoin, the valuable commodity is... finding a greater fool. In other words, bitcoin is entirely bubble.

In case of bitcoin, the valuable comodity is it's properties. You are fool if you think that national fiat curencies will last forever. I encourage you to find the mean life-span of past curencies various nations used.

A sheet of paper is an ink-lined plane. -- Willard Espy, "An Almanac of Words at Play"

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