TiPS (a.k.a. FedoraCoin) is a new state of the art cryptocoin based on the [Tips Fedora meme](http://knowyourmeme.com/memes/tips-fedora). Our objective is to become the tipping currency of the internet. More information is available in the [BitcoinTalk thread](https://bitcointalk.org/index.php?topic=1420302.0).
[USA Users] Would there be any interest in forming a credit union that focused on bitcoin/cryptocoin services?
I've been putting significant thought into this, and I don't see why it wouldn't work. Charter a federal credit union that would provide all of the protections of a typical deposit-taking CU, and couple that with bitcoin technologies such that funds can come in and exit using BTC, natively. I'm currently reading through charter documents, and the idea doesn't seem so far-fetched. It appears that startup costs are somewhere between $50k-75k. That's no small amount of money, but I know we have enough people sitting on coin that it could be pulled off - not to mention it would be member-owned. So far as I'm aware, no one has tried this to date. I'm looking for a venture to give a crack at, and this is as viable as any I've encountered recently... I hope this doesn't come off as a sales pitch. I don't intend it that way. Cooperative lending institutions are a big step forward for bitcoin and really all of the cryptocoins, IMHO.
I'm making this post to elaborate on my long-term vision for a proposed enclave for /Enclaves/: An organized network of defensible self-sufficient Agrihoods. If I have any input on how they're built, I think they should be built as polygonal forts using buried or camouflaged Hesco bastions, Bremer Walls. The fortifications can be disguised as architectural elements, while moveable, fortified observation towers can be stored for emergency use. Preferred form of government: Legal and transparent, Quaker-based Consensus decision making plus an armed "neighborhood watch" with American Military Structure/Ranking system basic infantry training. Each household must have at least one AR-15 or M-16 standardized (and legal) rifle with any legal barrel length. My preference as an American veteran is for the AR-15 to be the standard rifle, with 7.62×51mm NATO ammunition. The idea is to be able to share ammunition, training, knowledge, and tools. Your preferred form of economic system: Each resident of the Agrihood would buy membership and be a part-owner in the neighborhoods farming cooperative. Each member would be expected to pay an initial membership fee and then also to work a certain number of hours per month. People unable to work would be accomodated, and members of the cooperative can also invest more money in the cooperative in the form of crowd funded loans for capital equipment and other large purchases. As far as transactions between members, Barter, Gold/Silver and Copper , Bitcoin/Cryptocoins & any convenient fiat currency would be encouraged. Transactions are conducted between individuals, so both parties have to mutually agree on the form of payment beforehand. I also want to specify that there not be any "Home Owner Association" because they can be hijacked and used to exclude people. Your preferred level of technological development: I'd like to promote a basic Amish/1890's level of technology supplemented with solawind and modern technology on top of it. The goal is that each home should be fully functional in case of an EMP, systemic disruption, or disaster. The resources you bring to the table: Military training (Medic), herbalism. The resources you hope for from others: Emphasis on military training, medical training, construction/engineering and traditional farming or gardening skills. An outline of your personality as you see it: Pragmatist. An outline of your personality as (you've been told that) others see it. "Intense, geeky dick." and "Fucking irritating devils' advocate" are my favorites. Your perspective on what may be contentious topics, e.g. gun ownership, meat-eating, etc. Defensive training requirements, membership standards. Whether you have served in any branch of the armed forces of any nation. US Army National Guard, 7 years. I also grew up as an "Army Brat". Whether you have a background working in law enforcement: Nope.
Clearly delineate the difference between your preferences and your hard limits:
Tolerant of the religious views, lifestyle choices and sexual preferences of others but I draw the line at all of these things when others try to push their views on me or assume that I support what they're doing. There's a difference between tolerance and support. I don't care what you do or how you live your life, I will support you if you're attacked for it, but - and I feel strongly about this -just keep it to yourself and leave me the fuck alone to do what I want.
7/2020: I'm saving money, learning to garden, getting back in shape, maximizing my credit rating, changing careers so I can work remotely, and shopping for land on the east coast. If I get lucky and find an affordable and small property suitable for homesteading in 2020 then I'm pulling the trigger, but a more realistic plan is to relocate at the end of 2021. If it looks obvious to me that the pandemic isn't going to lead to economic collapse then I might be able to hold out and purchase about 60-100 acres in Vermont by the end of 2022.
Bitcoin and Cryptocurrencies are in reality a hyperinflationary multilevel-marketing pyramid cult of anarcho-capitalism and contradictory hypocrisy, prove me wrong/change my mind effort post itt
Reminder, Satoshi's Bitcoin and every other cryptocoin is designed to enrich a tiny minority of oligarchs who produce the supply for measurably less work/capital input than late adopters. These members form the inner circle of the cult who are than heavily incentivized to disseminate propaganda and psychological marketing tactics to the public "investors" who further spread the marketing-cult "white paper" claims like a virus in the hope that they will be able to leverage their low-effort low-capital database tokens though the smoke and mirrors and low liquidity exchanges and tape painting in order to pass their bags for real capital as all the later users buy into the dream that they too will become one of the oligarchs.
For future alpaca farmers, Sexton and Saitone laid out some of the major hallmarks of a speculative bubble, including: (1) The asset not the product is the thing being marketed (i.e. live alpacas, not fiber),
Bitcoin cult members sell users the dream of egalitarian wealth, when in reality the math and code behind Bitcoin simply created a system where existing capital is proportionally transfered into Bitcoin during the temporary hyperinflationary phase at an accelerated rate based on how early one begins to to set up server farms. Early users spent measurably less capital to generate significantly more of the supply. The Bitcoin protocol and mining algorithm is not some fancy complex math (Bitcoin mining math amounts to a lottery system, more capital gives more lottery ticket printers). Mining boils down to wasting more work and energy for less output as time passes.
(2) investors have unrealistic expectations (alpaca fiber would replace wool, despite the lack of infrastructure; and besides the fact that people don’t really wear that much wool),
(3) information is controlled through industry sources (most of the information the researchers were able to dig up was put out by breeding associations),
Even in the more reputable publications, journalists boil down the computer science into the marketing claims of what Blockchain and smart contracts cultist CLAIM it can do. These are solutions in search of problems. Blockchains are inefficenct databases, and lying about data input or stealing the deed to your house never seems to be a problem. Smart contracts need a data source to trigger, and how can data be trusted in an adveserial decenteralized network? A set of trusted "Oricales" who 'stake' their beanie babies? What's the use case for a smart contract? What happens if someone puts up a smart contract to assisinate the head of all the three letter agencies, the Queen, and the UN, and the international monitary fund?
(4) small scale investors predominate (Foster Farms did not open an alpaca plant).
The cult of bagholders think they are the kings. The underlying bitcoin/cryptocoin systems are simply a shitty anarcho-capitalist scam cult. The idealist vision behind ecash is great and all but it's a huge mistake to dismiss the side effect of further enabling a system designed for anarcho-capitalist black markets. This could easily spiral out into a long winded debate and flame war, but ill just point out that the game theory behind bitcoin favors early adopters (just some dudes who ran some software before other people.. software that can be duplicated ad infinitum ) at the expense of extracting real wealth from users who join at any later time. Bitcoiners claim Satoshi style ecash systems are a response to the 2008 financial collapse, fiat inflation, central banks etc, and yet the replacement system Satoshi designed just exacerbates the existing capital system into a measurably worse oligarchical techno-cult which embraces the enablement of lawlessness. If the claim of "trustless" and "decenteralized" is a main selling point, it's an illusion at best and manipulative propaganda at worst as there are centeral points of control within the cryptocoin ecosystems- i.e. /bitcoin censorship, anonymous developers, mining pool operators, really fucked up exchanges operating behind 7 shell companies in seychelles, the whole shitshow behind tether pulling what amounts to be fraud and theft of large sums of assorted cryptocurrencies simply because exchanges are central power hodlers and can exploit normie small fish traders (exchanges are poised to even exploit the whales) via front running and cooking the books though manipulative insider trading. There's no accountablity in the cryptocoin space - so while tradiational systems are flawed, we at least know who to blame and how to find them and hold them legally responsible. With anarcho-capital systems, we lose that option. Additionally, the production of the money supply in these specific implementations of cryptocoins are measurably worse than traditional money minting and distribution systems.
One important point: if we actually include all 7 billion people on the earth, most of whom have zero BTC or Ethereum, the Gini coefficient is essentially 0.99+. And if we just include all balances, we include many dust balances which would again put the Gini coefficient at 0.99+. Thus, we need some kind of threshold here. The imperfect threshold we picked was the Gini coefficient among accounts with ≥185 BTC per address, and ≥2477 ETH per address. So this is the distribution of ownership among the Bitcoin and Ethereum rich with $500k as of July 2017. In what kind of situation would a thresholded metric like this be interesting? Perhaps in a scenario similar to the ongoing IRS Coinbase issue, where the IRS is seeking information on all holders with balances >$20,000. Conceptualized in terms of an attack, a high Gini coefficient would mean that a government would only need to round up a few large holders in order to acquire a large percentage of outstanding cryptocurrency — and with it the ability to tank the price. With that said, two points. First, while one would not want a Gini coefficient of exactly 1.0 for BTC or ETH (as then only one person would have all of the digital currency, and no one would have an incentive to help boost the network), in practice it appears that a very high level of wealth centralization is still compatible with the operation of a decentralized protocol. Second, as we show below, we think the Nakamoto coefficient is a better metric than the Gini coefficient for measuring holder concentration in particular as it obviates the issue of arbitrarily choosing a threshold. ...However, the maximum Gini coefficient has one obvious issue: while a high value tracks with our intuitive notion of a “more centralized” system, the fact that each Gini coefficient is restricted to a 0–1 scale means that it does not directly measure the number of individuals or entities required to compromise a system. Specifically, for a given blockchain suppose you have a subsystem of exchanges with 1000 actors with a Gini coefficient of 0.8, and another subsystem of 10 miners with a Gini coefficient of 0.7. It may turn out that compromising only 3 miners rather than 57 exchanges may be sufficient to compromise this system, which would mean the maximum Gini coefficient would have pointed to exchanges rather than miners as the decentralization bottleneck. Conversely, if one considers “number of distinct countries with substantial mining capacity” an essential subsystem, then the minimum Nakamoto coefficient for Bitcoin would again be 1, as the compromise of China (in the sense of a Chinese government crackdown on mining) would result in >51% of mining being compromised.
Hey guys. I'm a long term Bitcoin (cryptocoin) enthusiast and this is the first time I post on ethtrade. I consider myself to be well above the average informed about how cryptos and it's underlying technology/blockchain works, but I'm no where near confident in understanding all the details (although I've read a lot about it). To be honest - I've been very sceptic regarding altcoins and never really considered investing in them. Recently however I've come to trust Eth more and more because it's been around a while and seems it's developing fast and I've seen plenty of positive comments. Okay, so I will be honest. I have to admit I don't really understand how Ethereum works and how it can be (or is) utilized. I can't imagine there are many people out there who truly understand it or have even heard about it in the first place. From the trading perspective (we are on the trading subreddit afterall) it makes me believe that Ethereum is just few steps above infancy and nowhere near showing it's full potential to the mass public. Kind of like Bitcoin in year ~2013. If I am not mistaken this would be quite bullish on the long term price. Current price can't be all speculation - there must be some "smart money" involved. What do you guys think? Do you understand the technology behind Ethereum? Thanks for all the inputs! Disclaimer: I own few coins/some fuel or however you wanna call it. :)
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Hi, I have been buying 100 usd of bitcoin every Friday since the Mt Gox hack and am what some people refer to as a whale, although not as fat a whale as the winklevoss twins!! However, i understand bitcoin as a store of value and a hedge against inflation, the portability aspect is often put forward as a reason why its better then gold but the truth is, there are several coins backed up by precious metals such as gold. If one of these developed as has Tether with real assets backing the digital ones, The people trading gold back coins i.e. the gold standard will have the same benefits of bitcoin in regards to portability of funds without the volatility involved leading to a better storage of value. Would really like your views on this guys...
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