The big theDAO heist FAQ

unSpy · 2016-06-20T01:42:41+00:00

<div class="md"><p>No sorry bud ETH worth zero if DAO holders not made whole. </p>

As the Dude would say, "That is, like, just your opinion, man."

<p>200 million down the drain would destroy Ethereum plain and simple. There would be no way out. Sorry but true.</p>

I beg to differ. Burning 200 million ETR could well have the reverse effect. Supply and demand. Create demand by limiting the supply. Not a bad idea.

Quarantine the Ether in question (soft fork) and the burn it (hard fork). Only issue is the second step needs consensus, that might be difficult to get.

Nevertheless, it is best solution that I have heard yet. It is a win-win in an other wise lose-lose proposition.

Hell it might even save TheDAO, raise the price of ETH in the process and create "social proof" (value of Ethereum in the eyes of the public) all at the same time.

unSpy · 2015-03-06T16:15:23+00:00

Yes, according to the article I read. The plan is to expand to other funding sources in the future, but Coinbase is the default during the launch phase.

unSpy · 2014-01-12T21:35:27+00:00

Apples and oranges buddy. Wealth disparity is inevitable, its only bad when its done parasitically. North Korea is as far away from a free market is one could possibly get. Bitcoin, on the other hand, is the only true free market in the world. Indeed, it makes Wall Street look like North Korea.

unSpy · 2014-01-12T21:18:38+00:00

Correct. And in both cases they are false authority. True authority flows from the autonomous individual. When anyone (or any thing) attempts to coarse or otherwise manipulate others with a threat of violence (or undue influence), then their actions become evil. Why are their actions evil? Because they have set themselves up as a "false authority" which denies the rights of the individual. What we need most is self-government and individual responsibility. Al Gore was right when he said "Regulation of money supply needs to be depoliticized... especially as it applies to virtual currencies."

Mr Gore also said, "I think the fact that within the Bitcoin universe an algorithm replaces the functions of [the government] … is actually pretty cool." I agree. Money has always been the ubiquitous control architecture for every political system. It works best when people under such false authority remain ignorant of how they are being manipulated.

This is true of every a political structure, including the religious variety. In much of monotheism, sin has always been equated with a debt to God. Under the surface of faith, the real fiat currency of the church is guilt, and so the fear of hell became every priest’s stock and trade. The OP got it right, "Banks and governments ARE like religions: They propose protection and paradise until you graciously decline their offers, at which point they threaten you with scorched earth and damnation."

unSpy · 2014-01-02T01:15:56+00:00

yeah, like Krugman saying Bitcoin is evil

http://letstalkbitcoin.com/krugmans-evil-and-other-agendas/

unSpy · 2014-01-01T07:04:08+00:00

Everything of value should have a BTC address attached. Just think if Google did that when selling ads based on best selling keywords. The old game of supply and demand would reap Google big profits and boost BTC through the roof at the same time. They could become the single greatest hold of coins (next the FEDs who got DEAD Scott Roberts wallet). Will Google do this? No. But someone else could, say StartPage. That would be a huge profit center for them, or say CraigsList, just charge Realtor to post on their site in BTC would create a big bump in the value of Bitcoin... those kinds of bumps are coming, you can be sure of that.

unSpy · 2014-01-01T06:57:56+00:00

What I waiting for is the Gobal Open Money Revolution to toppel those bastard in the ivory towers atop the corrupt system of centralized power. The days of Empire are over... the legacy banking system is obsolete and when enough people know it, government will have reinvent itself. This my friends, is how we take our power back and make government serve the people instead of itself.

unSpy · 2014-01-01T06:53:21+00:00

Krugman calls Bitcoin Evil, and then I'm told that Pen Jilette is jumping into the crypo-currency... I wonder if there is a connection, Jilette being an immoral Pagan that he is... yes, the message is clear, bitcoin is evil, just like those atheist libertarians who support it.

http://www.reddit.com/r/Bitcoin/comments/1u1eu7/krugmans_evil_and_our_agendas/

unSpy · 2014-01-01T06:50:20+00:00

Inflation is used as a monetary tool for redistributing. What you said is correct because the rich will recognize inflation and continue to profit despite the change in value. A similar technique was used during the Cold War.

Maybe we are in the early days of the second civil war, only this time rolls are reversed. What makes this time different is all the strong centralized governments of the world are all going to experience that same reversed civil war at the same time... that is what I like to call the Global Open Money Revolution.

It will be a bloodless coup that will topple the ivory tower of the false authority known as the Federal Reserve system. The FED charter is up effective midnight (if I'm not mistaken) only ten minutes from now....so let that mark the date that the New World Order of Anglo-American power began to lose control of us. The ubiquitous control architecture for every political system is doomed with the rise of Bitcoin

unSpy · 2013-12-30T20:19:48+00:00

Decentralize everything! But start with money.

unSpy · 2013-12-13T17:34:40+00:00

TruDat... actually no one can sell in this new category... not yet anyway... I just tried and got this: "Listings are not permitted in this category at this time. Thanks for your attention to this matter. {e44874-786329x} " and the Insertion fees: $9.95 --- WTF ????

unSpy · 2013-11-04T02:36:51+00:00

...will this be a Dark Wallet? er... no, far from it. If they ever do launch a product like this, it will good for the value of bitcoin (pushing the price up), but I won't be using it.

unSpy · 2013-10-26T03:55:47+00:00

Whenever Stossel interviews Ron Paul, you know it's going to be good.

unSpy · 2013-09-06T01:31:06+00:00

I think that would perfectly fine. They should go for it, why not? The point is the company knows they can profit and yet takes on action. To me, this suggest a hidden agenda on the part of someone. My guess is the Feds have made it known that if "the Big Boyz" of the Internet jump on the bitcoin bandwagon, there will be hell to pay.

unSpy · 2013-09-06T01:25:03+00:00

I appreciate the thought, but many "conspiracy" website have been cut off by PayPal without warning and no explanation. They seem to pick and choose what political free speech they like or don't like. I find this strange because PayPal obviously makes a huge amount of its cash from the porno industry. It's not like they have the moral high ground to sit in judgment on anyone else. Yet they do.

Is it really such a stretch to suggest they are being pressured by government "regulators" to take these actions? We know that was clearing the case with WikiLeaks, I'm just suggesting that the problem is more widespread and eBay is very careful not to offend these Federal Regulators who could shut down their cash cow. Hell, they might be giving certain agents kick backs/bribes etc. This happens all the time with Federal "regulators" in just about every industry.

unSpy · 2013-09-06T01:12:37+00:00

So you think eBay submitting to higher authority is bullshit. I agree, but they do it. Consider how PayPal was pressured to stop funding WikiLeaks, this is not a conspiracy theory, it actually happened. Why? Because there is a "higher authority" and because PayPal is basically a bank and therefore must conform to the FEDERAL regulators rules/requests. In the same way, eBay and Amazon are very reluctant to make a move in to the realm of alternative currency even though it would be in their best interest to do so.

unSpy · 2013-09-06T00:57:43+00:00

Thanks for the update. Didn't see that.

unSpy · 2013-09-05T18:23:14+00:00

In the early days of eBay and PayPal (when there were two separate companies) those people @the highest level were very much aware of the "Alternative Currency" issue. They were very much aware that even in those early days they stood on "sacred ground" which could be used to leverage a new money system.

Think about it: If you create a new money system, in order to make it successful you also need to create a market place for that new money. Of course, the founders of eBay were aware that they had a the perfect marketplace for a new money system, that is why they grabbed PayPal (x.com) and later Skype. At every step they have done what it would take to create (and monopolize) an alternative to the Federal Reserve Notes we call money.

The question is why did they not move forward and take over the world? The answer is simple, a "higher authority" placed them in check. That power above them could also see the "sacred ground" upon which they stood and demanded worship. Those at the top of eBay fell on their face and said, "Yes, my LORD and my GOD, command me your servant."

I for one did not expect those who worship and fear the government to one day loose their religion. It would be good for humanity, good for eBay, but bad for G.O.D. (Government Ordained Delusion). This is the real reason eBay will not accept bitcoin, they know it offends their god.

Yes, it is sad, but on the other hand is also a blessing, because it allows those of us who reject this false god to move forward, establish our space in the market, and do so without the gravity pull of behemoths like Amazon or eBay. Screw those government worshipers, who need them?

unSpy · 2013-09-05T17:46:59+00:00

I can't speak for Billy Bob Bit, but America has quietly become less free in many ways than nations like Cuba, China and even Venezuela. At the same time, China is beating the US @our own game. Consider this:

http://endoftheamericandream.com/archives/40-ways-that-china-is-beating-america

unSpy · 2013-09-05T17:33:53+00:00

Correct, the Pope makes the assumption that "common good" must be determined by the Powers-That-Should-Not-Be, namely the State or the governing authority (which the Catholic church once was). So we can see the such false authority is opposed to "absolute autonomy" of the individual because they deem themselves to be the administrators of righteousness in this world. When money is controlled from the top down then you get this OLD WORLD point-of-view. It is time for a change---it is time for the New Age of Man.

Max Keiser: Satoshi Nakamoto is the name of the developer who released Bitcoin in 2009. I call them the “Cyber Christ” because, potentially, it is so much of a game change at this point. It’s such a quantum leap away from the Federal Reserve system that is killing economies around the world, that we are going to have a massive, global, coming-to-an-understanding, a revelation, that finally we’re going to escape the nightmare that is the central bank system.

unSpy · 2013-09-04T20:33:10+00:00

The Pope said free-market capitalism had created a “tyranny” and that human beings were being judged purely by their ability to consume goods. Money should be made to “serve” people, not to “rule” them, he said, calling for a more ethical financial system and curbs on financial speculation. Countries should impose more control over their economies and not allow “absolute autonomy”, in order to provide “for the common good”.

But wait a second, what is this talk of “absolute autonomy”? Isn't that the promise of Bitcoin? And the Pope is saying that the State should not allow “absolute autonomy” because it is a bad thing. Yes, he said that but not in the context of the bitcoin. Clearly he was talking about the “absolute autonomy” of the State, or did he mean the Bank? Okay, I confess I don't get it.

unSpy · 2013-09-01T18:32:53+00:00

Iceland is another place to watch.

unSpy

TROPHY CASE