Bitcoin is evil. Comparison to FOSS movement is ill thought out. Although there is political channelling of thought which is common between the two, the actual implementation is bitcoin is marred by several questions.
To start with: Who is Satoshi Nakamoto? I know RMS and Linus, I can talk to them (although they may not want to talk to me, which is besides the point). So Bitcoin is designed by entity with unknown affiliation (this is critical although it may not look at outset) Secondly: When bitcoin infrastructure was started Satoshi or some (one/people) pretending to be Satoshi, he started mining coins himself. At the time, the yield was much better than it is now. Which means Satoshi may have millions of coins which leads to asymmetry of "money". Thirdly: Most transactions in bitcoin are connected to Mt. Gox someway or the other. Which is about 90% of transactions or more. For a transaction to be truly decentralized transactions should be routed through multiple gateways. Somehow none other exists. It would like you can develop code in opensource but it can only be hosted at github. There are several critical issues with bitcoin which hopefully other online currencies will address. On Tue, Apr 16, 2013 at 11:15 AM, Tavish Naruka <tavishnar...@gmail.com>wrote: > On Tue, Apr 16, 2013 at 7:53 AM, Ashwin Dixit <ganeshacompu...@gmail.com > >wrote: > > > Greetings fellow-Linuxers, > > > > I have a vision to share with you. > > Whether you call it a utopia, or a dystopia, I leave up to you. > > > > There is great power in people's numbers. > > I feel that a critical mass is gathering behind FOSS and BitCoin. > > I feel that these Davids can potentially overthrow Goliaths. > > > > Please read my latest blog article and share your opinion: > > > > > http://ownlifeful.blogspot.com/2013/04/bitcoins-potential-for-social-change.html > > > > > I think that this ongoing experimentation with bitcoins will serve as a > basis for creating > future currency, but in its current form, there is just too much bias > towards early adopters, > and hence no confidence in people who have been too late to the bitcoin > goldrush; and > this will be the downfall of bitcoin in current form. > > -- > Regards > Tavish Naruka > _______________________________________________ > Ilugd mailing list > Ilugd@lists.linux-delhi.org > http://frodo.hserus.net/mailman/listinfo/ilugd > -- Supreet Sethi Ph IN: +919811143517 Ph Skype: d_j_i_n_n Profile: http://www.google.com/profiles/supreet.sethi Twt: http://twitter.com/djinn _______________________________________________ Ilugd mailing list Ilugd@lists.linux-delhi.org http://frodo.hserus.net/mailman/listinfo/ilugd
