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Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion]

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On Sat, 08 Mar 2014 04:37:09 -0500, <hostilefork@gmail.com> wrote:

> [...]you've given away your identity merely with how you talk--in fact  
> there's only one person that intensely clever you COULD possibly be.   
> The secretive invisible mastermind inventor of Bitcoin: the *real*  
> Satoshi Nakamoto!!!
>

It's clear he or someone else created something novel with Bitcoin.
However, Bitcoin is seriously flawed, defective, and therefore doomed.

The man they portrayed, if truly the *real* Satoshi Nakamoto, would
be a kindred spirit, if he's not an autistic or a sociopath.  The
article implies he might be a sociopath.  It's clear that he recognizes
the truth where others just ignore it.  His government paranoias are
justified even without his background.

Bitcoin is doomed not just because of fixable, technical reasons like an
exponentially growing financial ledger/blockchain.  If "Satoshi" is truly
as smart as the article implies he is, he should both be able to recognize
the flaws I'm about to mention, or already be aware of them.  He should
be willing to come out of retirement to fix them.  Call it Bitcoin II.

The lack of reversible transactions means Bitcoins will always
be subject to fraud and theft.  The anonymous accounts compounds
the problem.  It means Bitcoin will always have people who
accidentally lose their funds or lose access to them.  These
unsolved problems create sufficient financial risk that most law
abiding individuals will avoid it.  The continuing media coverage
on Bitcoin's major losses and thefts reinforces this belief.

But, the most serious problem with Bitcoin is that it serves NO
purpose for the vast, vast majority of the world's law abiding
citizens.  I can use credit or debit just about anywhere, or can use
them to obtain cash for use elsewhere.  Those who don't have access
to banking systems won't have access to the internet either.  That
means it's of little to no use in developing countries.  So,
at best, Bitcoin is a solution in search of a real problem.  No one
really needs it except criminals - to bypass legal banking and
launder funds - and Bitcoin miners to make a living.  The world's
established banking systems do everything that's needed for most
with minimal cost.

Governments that haven't already outlawed it ... will.  Governments
that don't already classified it's use as money laundering ... will.
They're not about to forfit control of the monetary system.  The
largest banks are already working at finding better solutions that
won't have any of Bitcoins problems, political, technical, legal,
or perceived risk.  So, Bitcoin is fine as an initial proof-of-concept
that an anarchist, crypto-currency which exists and functions.  But,
is it the perfect virtual currency for the future?  No.


Rod Pemberton

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Forth in oblivion akk <akk@nospam.org> - 2014-02-16 19:21 +0100
  Re: Forth in oblivion Mark Wills <markrobertwills@yahoo.co.uk> - 2014-02-16 12:03 -0800
    Re: Forth in oblivion hughaguilar96@yahoo.com - 2014-02-16 15:47 -0800
    Re: Forth in oblivion Peter Percival <peterxpercival@hotmail.com> - 2014-03-05 15:25 +0000
  Re: Forth in oblivion visualforth@rocketmail.com - 2014-02-18 00:06 -0800
    Re: Forth in oblivion "Rod Pemberton" <dont_use_email@xnohavenotit.cnm> - 2014-02-18 06:15 -0500
      Re: Forth in oblivion visualforth@rocketmail.com - 2014-02-18 09:52 -0800
        Re: Forth in oblivion "Rod Pemberton" <dont_use_email@xnohavenotit.cnm> - 2014-02-18 18:16 -0500
          Re: Forth in oblivion visualforth@rocketmail.com - 2014-02-18 19:05 -0800
            Re: Forth in oblivion AKK <akk@nospam.org> - 2014-02-19 09:47 +0100
            Re: Forth in oblivion Andrew Haley <andrew29@littlepinkcloud.invalid> - 2014-02-19 04:08 -0600
            Re: Forth in oblivion "Rod Pemberton" <dont_use_email@xnohavenotit.cnm> - 2014-02-19 05:39 -0500
          Re: Forth in oblivion Andrew Haley <andrew29@littlepinkcloud.invalid> - 2014-02-19 04:09 -0600
            Re: Forth in oblivion "Rod Pemberton" <dont_use_email@xnohavenotit.cnm> - 2014-02-19 06:18 -0500
              Re: Forth in oblivion Stefan Mauerhofer <smauerhofer@androsoft.ch> - 2014-02-19 03:35 -0800
              Re: Forth in oblivion Andrew Haley <andrew29@littlepinkcloud.invalid> - 2014-02-20 10:06 -0600
          Re: Forth in oblivion "Stanley Daniel de Liver" <notagoodone@invalid.org.invalid> - 2014-02-23 21:17 +0000
            Re: Forth in oblivion "Rod Pemberton" <dont_use_email@xnohavenotit.cnm> - 2014-02-24 01:18 -0500
              Re: Forth in oblivion "Elizabeth D. Rather" <erather@forth.com> - 2014-02-23 21:44 -1000
                Re: Forth in oblivion hostilefork@gmail.com - 2014-03-02 04:36 -0800
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] "Rod Pemberton" <dont_use_email@xnothavet.cqm> - 2014-03-03 14:30 -0500
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] hostilefork@gmail.com - 2014-03-03 15:34 -0800
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] Paul Rubin <no.email@nospam.invalid> - 2014-03-03 16:53 -0800
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] hostilefork@gmail.com - 2014-03-03 17:10 -0800
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] anton@mips.complang.tuwien.ac.at (Anton Ertl) - 2014-03-04 10:28 +0000
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] "Rod Pemberton" <dont_use_email@xnothavet.cqm> - 2014-03-03 21:05 -0500
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] hostilefork@gmail.com - 2014-03-03 18:42 -0800
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] Stefan Mauerhofer <smauerhofer@androsoft.ch> - 2014-03-03 23:54 -0800
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] hostilefork@gmail.com - 2014-03-04 13:49 -0800
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] "Rod Pemberton" <dont_use_email@xnothavet.cqm> - 2014-03-04 17:23 -0500
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] hostilefork@gmail.com - 2014-03-05 04:02 -0800
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] "Rod Pemberton" <dont_use_email@xnothavet.cqm> - 2014-03-05 19:01 -0500
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] albert@spenarnc.xs4all.nl (Albert van der Horst) - 2014-03-06 02:17 +0000
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] hughaguilar96@yahoo.com - 2014-03-06 23:48 -0800
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] "Rod Pemberton" <dont_use_email@xnothavet.cqm> - 2014-03-07 17:23 -0500
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] hostilefork@gmail.com - 2014-03-08 01:37 -0800
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] "Rod Pemberton" <dont_use_email@xnothavet.cqm> - 2014-03-08 20:32 -0500
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] Stefan Mauerhofer <smauerhofer@androsoft.ch> - 2014-03-04 22:15 -0800
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] "Rod Pemberton" <dont_use_email@xnothavet.cqm> - 2014-03-04 16:41 -0500
                Re: Rebol, Red, Haxe languages, was [Re: Forth in oblivion] "Rod Pemberton" <dont_use_email@xnothavet.cqm> - 2014-03-04 17:06 -0500
                Re: Forth in oblivion Andrew Haley <andrew29@littlepinkcloud.invalid> - 2014-03-05 11:11 -0600
                Re: Forth in oblivion hughaguilar96@yahoo.com - 2014-03-07 21:14 -0800
  Re: Forth in oblivion albert@spenarnc.xs4all.nl (Albert van der Horst) - 2014-02-18 13:17 +0000

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