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Re:Bitcoin Foundation Launches to ‘Standardize, Protect and ... by volts on Thursday September 27, 2012 @05:55PM (#4583129)
I think an encrypted currency base managed only by computers and the market is fairer than a system run by a few men. Also I like privacy.
Re:Bitcoin Foundation Launches to ‘Standardize, Protect and ... by wmf on Thursday September 27, 2012 @06:14PM (#4583200)
I think it could be fairer or it could be a way to get stuck with a broken monetary policy forever.
Re:Bitcoin Foundation Launches to ‘Standardize, Protect and ... by TazeTSchnitzel on Thursday September 27, 2012 @06:35PM (#4583283)
Bitcoin can easily be forked and changed though.
Re:Bitcoin Foundation Launches to ‘Standardize, Protect and ... by wmf on Thursday September 27, 2012 @07:13PM (#4583410)
I am not sure that is true. As small as the ecosystem is, I would not want to try to duplicate it.
Re:Bitcoin Foundation Launches to ‘Standardize, Protect and ... by doublec on Thursday September 27, 2012 @08:14PM (#4583636)
There are plenty of forks running already. There's "litecoin", a fork that changes the proof of work algorithm to scrypt in an attempt to make GPU's less useful for mining.

There's "PPCoin", a fork that adds "Proof of Stake" alongside "Proof of Work" in an attempt to reduce the energy consumption of the mining process.

There's others as well. Some bitcoin proponents consider these "scam" coins as they have limited use other than speculation, others consider them experiments in different approaches. But they do show that forking bitcoin is fairly easy.

Re:Bitcoin Foundation Launches to ‘Standardize, Protect and ... by TazeTSchnitzel on Friday September 28, 2012 @02:50AM (#4584535)
Don't forget Namecoin, repurposing the Bitcoin block chain for storing DNS records!
Re:Bitcoin Foundation Launches to ‘Standardize, Protect and ... by barmstrong on Thursday September 27, 2012 @07:30PM (#4583470)
In a very literal sense it can be forked: https://github.com/bitcoin/bitcoin

You wouldn't need to try and duplicate an ecosystem. People with nodes on the network would "vote with their CPU power" to support the version they liked the best - so the best one would naturally get the most support.

Re:Bitcoin Foundation Launches to ‘Standardize, Protect and ... by wmf on Thursday September 27, 2012 @08:08PM (#4583598)
the best one would naturally get the most support

I don't think so. A "better" Bitcoin fork that has no MtGox, no BitInstant, no BitPay, no blockexplorer, etc. would probably have very low adoption.

Re:Bitcoin Foundation Launches to ‘Standardize, Protect and ... by mkramlich on Thursday September 27, 2012 @11:08PM (#4584115)
agree and disagree. if a fork is demonstrably, significantly better, then adoption will grow and eventually, in general, the better will win. this is how evolution works.
Re:Bitcoin Foundation Launches to ‘Standardize, Protect and ... by gizmo686 on Thursday September 27, 2012 @08:12PM (#4583628)
No, the most popular version will get the most support. You still have the problem that a forked chain stops being compatible, so if a node recieves coins in the new chain after the fork, the old chain won't acknowledge it. This is a big practicle barrier to implementation.

You could harvest a large number of new chain coins before you go public, and offer an exchange service, but that would involve you owning alot of new-chain bitcoin, which would be a concern to people switing in.

Re:Bitcoin Foundation Launches to ‘Standardize, Protect and ... by javert on Thursday September 27, 2012 @10:12PM (#4583987)
The only monetary policy that isn't broken, is one that doesn't exist.
Re:Bitcoin Foundation Launches to ‘Standardize, Protect and ... by wmf on Thursday September 27, 2012 @10:34PM (#4584042)
I don't think that's possible. Even keeping the number of BTC fixed is a policy.
Re:Bitcoin Foundation Launches to ‘Standardize, Protect and ... by javert on Friday September 28, 2012 @04:15PM (#4587578)
True, but participation in bitcoin is voluntary, whereas participation in governmental monetary policy is not :)