Who's doing this to my internet?

Re:Who's doing this to my internet? by Frondo on Tuesday July 28, 2015 @10:29AM (#9961699)

People may also not like bitcoin because they want a democratic say in the design and operation of their currency. Bitcoin has economic features built into it that its users simply have no democratic redress to change, even if they wanted to. Power should be to the people, not some guy who likes deflation and baked that in years ago.

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Re:Who's doing this to my internet? by yc1010 on Tuesday July 28, 2015 @10:33AM (#9961732)

Yes because the average person has power over the central banks

Anyways it is sad being down-voted in technical forum by people who should better than most understand that bitcoin despite its faults is still a damned good online payment method especially when compared to existing alternatives.

It does everything the OP i replied to wants.

Anyways fuck this place, people use their votes as a way to not encourage conversation but as a punishment tool.

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Re:Who's doing this to my internet? by Frondo on Tuesday July 28, 2015 @10:37AM (#9961767)

I get to vote on the people who appoint the fed chief every so often. There is no mechanism, even theoretical, to put that democratic power in the hands of the citizen user of bitcoin.

Edit: Wow you changed your comment a lot in the edit!

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Re:Who's doing this to my internet? by yc1010 on Tuesday July 28, 2015 @05:33PM (#9964662)

Good, bitcoin is not going to replace central banks, what it is a great online payment system not a replacement for world banking.

Some of us have no issues trusting cold hard maths, cryptography and computer science behind bitcoin which give so much certainty and such clearly defined rules for how the system works. As compared to some central bankers who have no issues with whole countries going down the drain (Greece) due to their policies which often change based on politics.

There sure as hell is no chance that trillions of bitcoins will suddenly appear out of thin air Fed style.

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Re:Who's doing this to my internet? by mcv on Tuesday July 28, 2015 @10:43AM (#9961820)

I don't think it's true that you can't change how bitcoin works. I'm no expert, but as I understand it, if more than half the network agrees with you, you can change it.

I think the main problem with bitcoin is that it doesn't scale, because every transaction has to be approved by the entire network. More payments and a bigger network means the number of validations goes up quadratically.

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Re:Who's doing this to my internet? by Frondo on Tuesday July 28, 2015 @10:46AM (#9961837)

"change half the network" doesn't meet any definition of democratic access to power that I am familiar with.

People don't need to do a turn on a garbage collection route to vote on how their municipal garbage service is run.

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Re:Who's doing this to my internet? by maxtheman on Tuesday July 28, 2015 @01:32PM (#9963166)

"change half the network" is almost the textbook definition of democracy.

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Re:Who's doing this to my internet? by Frondo on Tuesday July 28, 2015 @03:32PM (#9963963)

Democratic access to power has in no other circumstances required knowledge of coding.

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Re:Who's doing this to my internet? by maxtheman on Tuesday July 28, 2015 @01:30PM (#9963152)

The federal reserve system was designed to be resilient against the democratic whims of the people; any minuscule control you have over the management of the US Dollar is a bug, not a feature.

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Re:Who's doing this to my internet? by Frondo on Tuesday July 28, 2015 @03:35PM (#9963977)

It is responsive to democratic actions even if it isn't directly under the peoples control. Bitcoin, your average citizen has no recourse, period.

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