Hi Peter & Aftermath,
After reading both of your postings...I have nothing more to say. However, I
did enjoy your contributions and they gave me some food for thought, whilst
I was away a la France.
We are all entitled to our opinions and if the two of you think that using
Bitcoin is a good idea, then who am I to say otherwise? Personally, I find
no advantage in using it whatsoever. I use a credit card or PayPal for
purchases on line as this guarantees that I get my money back if anything
goes wrong, and I don't need to have a wallet on my computer to keep account
of the money. If the computer goes pear-shaped, I can always go to my
account online and pick up from there. With Bitcoin, if something goes
wrong, I have lost the lot, and have no way of getting my money back. I
have little or no need for anonymity in my buying and selling, but do
appreciate security accompanied by accountability.
ATB
Dougie.
-----Original Message-----
From: cryptome-bounce@xxxxxxxxxxxxx [mailto:cryptome-bounce@xxxxxxxxxxxxx]
On Behalf Of Peter Presland
Sent: 11 April 2015 14:31
To: cryptome@xxxxxxxxxxxxx
Subject: [cryptome] Re: 1st British Bitcoin Exchange due to open
Hi Doug
On 11/04/2015 11:30, Douglas Rankine wrote:
May I say, it isn't a competition between you and I, or anyone elseit.
for that matter, rather, we are sharing information and your
contribution was very good stuff, in my opinion, I learnt quite a lot from
Just a couple of points, all currencies have to "cash out" i.e. get
turned into another currency or realise their value through exchange
for goods or services. See Capital Vol 1 by K. Marx or The Wealth of
Nations by Adam Smith, for a definition of capital value. If they
don't cash out they are worth nothing, or hypothetical billions. That
is if I am understanding what you mean by cashing out.
In fact, though a wonderful piece of mathematical invention, it is
quite useless, like all good art...to paraphrase Oscar Wilde... :-).
Dougie.to have a plan - yet.
P.S. I notice that some peer to peer organisations are putting bit
mining into their sharing systems...without asking permission...Lots
of folks aren't very pleased about it...including me...I don't have
enough bandwidth as it is, without sharing it surreptitiously. Now,
that is something to be shit-scared of... :-).
-----Original Message-----
From: cryptome-bounce@xxxxxxxxxxxxx
[mailto:cryptome-bounce@xxxxxxxxxxxxx]
On Behalf Of Peter Presland
Sent: 08 April 2015 16:51
To: cryptome@xxxxxxxxxxxxx
Subject: [cryptome] Re: 1st British Bitcoin Exchange due to open
On 08/04/2015 15:29, John Young wrote:
Odd that Bitcoin users believe its anonymity features, as though
exchanges occur in the untappable, invisible, untrackable byways of
neutrinos.
What better way to track bitcoin users than anonymizing bitcoins.
I can't compete with Dougie's epistle about technical Bitcoin
anonymity/Authorities matters. Suffice to say that my post was
primarily to point out a couple of misunderstandings -
misunderstandings which I now suggest evidence a lack of familiarity
with the issues and may therefore affect his speculations.
However, my 'shit-scared' characterisation had nothing to with the
alleged anonymity (or lack thereof) of Bitcoin transactions.
The thing that really bothers the financial authorities is the absence
of centralised control over issuance and all that flows from it. Since
Bitcoin issuance is known and finite, it is analogous to gold as a
currency but with none of its storage and exchange problems. How to
exercise a similar degree of control over Bitcoin value and flows,
that is their problem and they are working on it.
Bitcoin take-up remains constrained by the need to cash-out. So long
as that is so, then its use will likely remain confined to the
fringes. The financial authorities absolutely need to be able to
prevent any serious break-out from this constraint and they don't appear
Hence my 'shit-scared' remark.
OTOH, the Powers that drive the NSA (ie those who also pull the
strings of the ones who are 'shit-scared') have almost certainly got
the whole thing well in hand - even designed it this way :-)
Mr Nakamoto may indeed be a maverick but co-opting the technical
brilliance of mavericks (among its vast array esoteric capabilities)
is after all an NSA speciality.
PeterP
Recalls the case of Crypto-AG being rigged by NSA to spy on itsparts.
crypto machines. Or Tor and Snowden implementing digital Crypto-AGs.
Still, biblical faith in unverifiable protection is as ancient as
authority warnings of enemies at the gate, in the soul, in the
private
Not to mention invention of money and taxes conjoined to
mortality: death taxes a great way to assure filled tills.
But no authority can survive without porn, liquor and gambling.
And heavy-handed alarms about their danger if not carefully
controlled to assure dependency on defiance of authority.
Cheating humans is supremely human.
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