2012/11/12 Melvin Carvalho <[email protected]> > > > On 12 November 2012 09:32, Daniel Pocock <[email protected]> wrote: > >> >> >> I'm just wondering if anybody has done any analysis of the suitability >> of Bitcoin for FreedomBox? >> > > Bitcoin is quite resource intensive, the block chain is large and growing, > so to set it up takes time. On a small plug computer this is quite a bit > of work and may be tricky (i dont know if you could renice it). Then you > need to open a few ports, and also you'll become a target for people > wanting to steal your wallet.dat (either from the web or your own house!). > If those hurdles can be overcome, there could be a good match. >
There are lightweight clients like Electrum or BitcoinSpinner. > > >> >> For example, Bitcoin provides a certain amount of anonymity, but not >> complete privacy. In other words, anybody can create an anonymous >> Bitcoin account, but anyone else can trace the movements of Bitcoins >> through that account. Does this lack of 100% privacy make it awkward >> for FreedomBox to include Bitcoin? >> > > The block chain is public, but you can have a new key for each > transaction. > Bitcoin is complementary to OpenTransaction. > > >> >> What Bitcoin does excel at is providing an alternative money supply. In >> previous eras of bank failure (e.g. over 9,000 US banks went pop in the >> 1930s) people reverted to gold and silver. Nowadays, so many of us are >> involved in businesses that rely on ecommerce and distant clients paying >> for virtual/intangible services. Most trade relies on electronic >> payment by bank transfer or credit card, not a physical meeting with >> cash. Iceland's banks went pop and it's been speculated that Greek >> banks will go the same way when they leave the Euro. It seems like >> fertile ground for a solution like Bitcoin deployed on a convenient >> platform like FreedomBox. >> > > There's over 200 alternative money supplies and more growing. One > possibility is to focus on one of them (bitcoin is probably the poster > child) another is to stitch many together in exchanges etc. > Most are proprietary and centralized (Linden $) so they can be taken down any time like e-gold. LETS seem very promising, but don't really take off. Bitcoin is not the poster child for no reason. -Anu
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