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The major news here is that Bitcoin is corrupting itself by affiliating with major corporate interest. Silicon Valley thinks they own Bitcoin - they will be pro

The major news here is that Bitcoin is corrupting itself by affiliating with major corporate interest. Silicon Valley thinks they own Bitcoin - they will be proven wrong. a fork is becoming more and more likely. Gavin is not treating his responsibilities well and should find himself a well paid job if he wants to make money. there is something wrong with incentives here. Bitcoin is global, not a US owned network.

vidarh 13y ago
Bitcoin is not one entity. When someone effectively "creates money" then of course there's a strong incentive for people to build businesses around it. Things can fork as much as it wants: Any alt-coin that becomes successful will attract people trying build businesses around it. If you want to prevent people from making money on it, find a means for people to achieve their goals without exchanging anything that can be converted into money. Good luck trying to do that without also making it pointless and/or unusable.
- bachback 13y ago
  I think you misunderstood what I was saying. I was referring to the fact that the core Bitcoin dev, basically the guy in charge of the network, joined the board of one company in Silicon Valley. If I have a competing business, what do you think his preferences are going to be? So if this continues there will be a fork, so that devs of the protocol are prevented from selling out. I think the core bitcoin devs are really going in a very wrong direction with their affiliations.
  - ashray 13y ago
    You are right. Bitcoins and bitcoin businesses in general have taken a very American twist. The entire 'bitcoin foundation' had turned into nothing more than a lobby group which is what Gavin happens to belong to. Large bitcoin businesses are dominate by Americans so far: Coinbase and Bitpay. Happy that Bitstamp isn't US owned but not sure for how long. It's basically a repeat of what happened with the Internet. No one is stopping other regions from taking their own slice of the pie. It just appears that Americans are quicker on the innovation front and seem to understand where future value may lie and thus take appropriate risks.
    - dingaling 13y ago
      > It just appears that Americans are quicker on the innovation front The two biggest Bitcoin exchanges by far, outside China, are Mt Gox ( Japan ) and Bitstamp ( Slovenia ). Coinbase is a little later to the game...
kolev 13y ago
To me personally, Bitcoin is dead already. It's turned from a nice idea to a speculation tool. Get Wall Street involved and it will become worse than USD! I won't even mention the fact that China owns over 70% of the market! The whole thing starts to stink badly!

vidarh 13y ago

Bitcoin is not one entity. When someone effectively "creates money" then of course there's a strong incentive for people to build businesses around it. Things can fork as much as it wants: Any alt-coin that becomes successful will attract people trying build businesses around it. If you want to prevent people from making money on it, find a means for people to achieve their goals without exchanging anything that can be converted into money. Good luck trying to do that without also making it pointless and/or unusable.

bachback 13y ago
I think you misunderstood what I was saying. I was referring to the fact that the core Bitcoin dev, basically the guy in charge of the network, joined the board of one company in Silicon Valley. If I have a competing business, what do you think his preferences are going to be? So if this continues there will be a fork, so that devs of the protocol are prevented from selling out. I think the core bitcoin devs are really going in a very wrong direction with their affiliations.
- ashray 13y ago
  You are right. Bitcoins and bitcoin businesses in general have taken a very American twist. The entire 'bitcoin foundation' had turned into nothing more than a lobby group which is what Gavin happens to belong to. Large bitcoin businesses are dominate by Americans so far: Coinbase and Bitpay. Happy that Bitstamp isn't US owned but not sure for how long. It's basically a repeat of what happened with the Internet. No one is stopping other regions from taking their own slice of the pie. It just appears that Americans are quicker on the innovation front and seem to understand where future value may lie and thus take appropriate risks.
  - dingaling 13y ago
    > It just appears that Americans are quicker on the innovation front The two biggest Bitcoin exchanges by far, outside China, are Mt Gox ( Japan ) and Bitstamp ( Slovenia ). Coinbase is a little later to the game...

kolev 13y ago

To me personally, Bitcoin is dead already. It's turned from a nice idea to a speculation tool. Get Wall Street involved and it will become worse than USD! I won't even mention the fact that China owns over 70% of the market! The whole thing starts to stink badly!