Bitcoin and The Hard Fork

A Bitcoin Hard Fork that creates 2 healthy but incompatible bitcoin networks from the original blockchain would be devastating.

Soft Fork. Somebody writes an update to Bitcoin’s code. You can use it, or the old one and both will be perpetually compatible with each other.

Hard Fork. This is where the new software update is incompatible with current software. Thereby a new Bitcoin network is created and if you don’t update your software, you won’t be able to use the new network. You need to chose a side. In the case of BitcoinXT the hard fork would happen on New Years 2015. If a hard fork occurs with XT on New Years (it requires 75% acceptance to happen) 2 networks will be created original Bitcoin and BitcoinXT.

When news of BitcoinXT hit the Bitcoin mainstream, it was understandably criticized and very few people adopted it. Still now, almost no one is interested in it. Mainly because even if it were technologically superior, which hasn’t been proven, it would create 2 bitcoin networks. 1 network using the new code and >75% popular support. Another network using the old code and a highly vocal <25% who would call themselves the original Bitcoin. Surely at that point outsiders wouldn’t see much more value in a Bitcoin than a BitcoinXT, Litecoin, Peercoin, Dash or anything else.

Bip100, a more popular Hard Fork, would create a new network on Dec 11 2015.

Bitcoin is king because it was first, not because it is best. You muddle the definition of first, you kill Bitcoin.

But that doesn’t mean a hard fork is impossible, it just needs to be done with brutal care. Either you bring absolutely everyone onboard (impossible), or kill the old network somehow when you split. . .Look at it this way. Suppose I create a robot that looks just like me. I also discover a way to convert my mind into digital software (I tried this last week). If I make a copy of my mind and put it into the robot you’d basically see Remi and a robot copy of Remi. Right? 2 entities. No question about the robot being just a copycat….BUT! Suppose in the process of transferring my mind into the robot, I die. You’d be more likely to believe that the “real” Remi had lived on. Similarly the “real” Bitcoin must always be clear. If/when Hard Forks occur, nothing can be left behind. If there is a remaining network of enthusiasts running the original code, thats it, Bitcoin as the dominant crypto is over.

Does CNBC really know Bitcoin? Here are 11 myths.

http://www.cnbc.com/id/101298888

OK, I’ll bite this list in the mainstream looks to be worth my time. Some of its good, some of its total crap. These are CNBC’s top 11 Bitcoin myths. Absent from the list, but in my mind also relevant: hackers can get into your wallet and steal your BTC- definitely a myth.

1)Bitcoin is Huge.
CNBC says its in fact quite small- market cap of 10 billion or so. They’re absolutely right. Huge growth, and hence the attention, but a long way to go to rival a gov currency. Although, like good little corporate shills, they’ve compared it to the US money supply of 800 billion. HA! That figure is total garbage and disregards one of the factors driving Bitcoin’s growth. There is way way more money in the US money supply, they are ignoring all the issued credit. A bank or the ‘Federal’ reserve issues credit and it gets passed around, circulated and used in ever way that dollar bills are used. There are unknown trillions out there in the actual US money supply. Why is it unknown? Because the gov stopped tracking it. That’s right, the US gov doesn’t even know how much money is in their total supply- F’n crazy right?! Canada’s is currently around 1.7 trillion, but we have 50 billion in paper bills printed by the government.

2)Bitcoin enables drugs and terrorism.
Of course it does! Its a currency. All currencies enable illegal activity. They claim its too volatile to be useful. This is frankly stupid and I’m tired of hearing it repeated. You can purchase and use BTC in a matter of seconds. Sure Bitcoin’s value is volatile, but it doesn’t have massive swings in a matter of seconds. Also, the silk road drug operation was back in business faster than you could shake a stick- go tell them its not useful, they’ll laugh at you from behind piles of drug money.

3)Bitcoin is a currency,
Yes it is. Like any other it gets its value from the people who will trade something for it. The comparison to credit cards is just strange. Credit cards issue new funds out of thin air to make the transaction, and cost a small fortune to its users. BTC has a fixed supply and no one can issue more like they do at VISA.

4)Bitcoin has never been more volatile than now.
Sure, that is a myth.

5)Chinese citizens can’t buy bitcoins
Does anyone actually think that, man I am so out of the mainstream maybe this myth is prevalent. If you can name something people can’t buy somewhere in the world I’d be shocked. Anybody buying this myth is in some sort of fog….Snowmen in Ecuador maybe?. . .

6) Bitcoin is not a store of value
The double negatives are hurting my head now. I think they’re saying it is a store of value right? I agree. Buy one now, sell it later, it stored your value.

7) Bitcoin is untraceable
 This one is tricky, especially for those trying to lie to everyone. Movements of BTC are highly traceable, what isn’t traceable is who owns each of the wallets. But, if you can manage to prove who owns a wallet by where they’ve sent and received BTC- you’ve got the owner traced entirely. This is what makes Bitcoin so great. Big public wallets will always be easy to keep track of the ownership, but small personal accounts will be easy to hide. . . Also, look up the deep web dummies (sorry they’re not dummies, they know all about it are doing the usual mainstream omission of important facts to paint a cozy corporate picture). Deep web is how Wikileaks and international spies stay anonymous on the internet. Yes its is very possible, the whole big brother thing is smoke and mirrors folks. Meant to instill fear of an omnipotent gov that does not exist.

8) Losing anonymity will render bitcoin useless
Please see #7, its is anonymous and will stay that way for small users.

9) It’s a Ponzi scheme
I’m not going to bother, because I don’t actually care enough, but I’d love to see how many times this ‘news’ outlet has called it a ponzi scheme or a tulip mania up until this point. Their first attacks failed, they are regrouping and changing the tune.

10) Bitcoin is “ready for prime time”
The technology is absolutely ready, and volatility is not an issue as stated in #2. Also, Overstock.com is accepting BTC in 2014- sounds fairly big time to me. . .

11) Something better will kill Bitcoin
Yep, I agree this is a myth. Hard to envision how anything will overtake Bitcoin in the p2p revolution.

Nick denBoer on The Remi Review

Duke Buzzy on The Remi Review

1st Thanks to Duke for being a good sport! Almost no context remains from what he actually told Remi in interview, a trust was certainly betrayed. Also thanks to Jojo for letting us freeze her half to death. Thanks to Zach Donaldson, for shooting the only footage that survived 6 months in the Mess of Wires Studio (Zach can be seen sometimes in reflecting glass on left side). Also thanks to Chris Wunderlich for interview, not an interview, original concept. More Remi Review Interviews, short and rude, coming soon!!!

Beef Recall

Disruption to the food supply means great profitability…Is it worrying that anyone working for a corporation is legally bound to shareholders to chase profits? The most powerful people in society are legally bound to make profits, and those profits are attainable by disrupting the flow of food. Anyone else seeing a problem here yet?

I’m a coward

You can too! Change doesn’t require just hero’s and loud mouths. Revolution can come from quiet, reserved people as well- even cowards. Another good example of cowardice- stealing ideas. I took this idea of multi-tier dissent from Huffington Post or somewhere, not even sure. They are second tier and were talking about the flak the first tier gets. My addition to this concept of course is the third tier, the viewing gallery. The place where we can laugh, point and get angry without sparking too much ire from the establishment.

Geoengineering: Dumping Iron in the Ocean

Dumping iron in the ocean to save the environment. Its about as logical as saving the economy by bailing out the banks that have destroyed it. Or shooting yourself in the foot to train for a marathon.

http://www.huffingtonpost.com/2012/10/19/pacific-ocean-iron-dumping-geoengineering_n_1986517.html

Conservative Campaign Scandal

Conservatives buy their way out of buying the 2006 election.
http://www.huffingtonpost.ca/2011/11/10/election-spending-conservative-party-canada_n_1086475.html

CPC gets $47 million a year in public money.
http://en.wikipedia.org/wiki/Federal_political_financing_in_Canada

Robocall scandal. Or you could just google it, plenty of good reading out there.
http://www.huffingtonpost.ca/jim-harris/robocalls-scandal_b_1305397.html

National Post “So called scandal”
http://news.nationalpost.com/2012/03/06/conservatives-drop-appeal-of-in-and-out-ruling/

Toronto Sun “So called case”
http://www.torontosun.com/2011/11/10/tories-make-deal-in-campaign-overspending-case

In defense of what i’ve said here, not mentioned. The papers both used ‘so called’ to refer to the phrase “in and out” often used in reference to this crime not to the validity of the crime itself. But use of the phrases “so called scandal” and “so call case” don’t just undermine the naming of the crime, they undermine the crime itself. Especially as read by the average Newspaper reader who often skims an article to get the general idea. The planting of certain phrases is integral to modern day journalism gone propaganda in the mainstream.

Also not mentioned is the NDP’s $344k fine in 2010 for illegal campaign funding practices. Again, completely un-exceptable! Difference is, the NDP didn’t win. They’re also not changing our laws or dismantling our democracy. For now.

Harper Spends 1 Billion on Missile Drones

Peacekeeping everyone into total submission. Harper plans to put robots with weapons into the sky. Does it matter to you that someone stole the election here and is now arming the sky above us. Re-writing our laws. Permitting our resources to be had internationally for next to nothing. Come on people, Wake Up! We’ve lost our country! A dark future awaits us if we don’t restore democracy in Canada and around the world.

Harper government intends to spend $1 billion on armed drones for Canadian military

The Conservative government approved last month the issuing of a request to aerospace firms to provide details about the types of drones now available. In its request to the industry, the government pointed out the need for the unmanned aircraft to operate in the Arctic. The aircraft should also be able to carry precision-guided munitions, the government said.
http://www.ottawacitizen.com/news/Canadian+miltary+intends+spend+billion+armed+drones/7048045/story.html

Blackwater trained Canadian troops without permission, Canadian troops and police were trained for two years by the international security contractor formerly known as Blackwater without the permission of the U.S. State Department.
The revelation is contained in U.S. federal court records, unsealed in North Carolina as part of a $7.5 million settlement of criminal charges against the company now called Academi LLC.
“The Harper government has had a standing contract with the company since 2008.”
It’s paid millions of dollars going back to 2006 for the specialized training, given to special forces troops and some police officers.
http://www.cbc.ca/news/world/story/2012/08/08/canadian-troops-blackwater.html

The Remi Review Episode 23 – Fallacies

Most people have not had monetary theory properly explained to them and simply don’t know there is a problem of total corruption and tyranny. Many more people hear the truth, but refuse to believe it- out of fear and social pressure. This episode is about none of these people…This is about those who’ve heard it, understand it, but don’t want to decry the corruption. It requires a touch of mental gymnastics, a fallacy- an error in reasoning. Also review bottled water, Reuters and Girls Dig Musicians!