[Freedombox-discuss] FreedomBox and Bitcoin (and the petition)

[Rüdiger Koch]

2012/11/12 Melvin Carvalho <melvincarvalho at gmail.com>

>
>
> On 12 November 2012 09:32, Daniel Pocock <daniel at pocock.com.au> 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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