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Bitcoin Is Not Anonymous
An anonymous reader writes "Researchers from University College Dublin have conducted an analysis of anonymity on Bitcoin, and found it is not inherently anonymous, and that in many cases, users and their transactions can be identified. They use techniques such as context discovery and flow analysis to investigate and visualize an alleged theft of Bitcoins, which, at the time of the theft, had a market value of approximately half a million U.S. dollars."
Bitcoin in the new Twitter. No matter how many times you post about it, there's still only a dozen people who care.
That energy is actually put to a good use - it provides security for the block chain against double-spending attacks, by making them computationally infeasible. And it gives pretty good value for the money: as far as costs go for a payment-processing network, it's damned cheap compared to what Visa or Paypal charges.
Yes, early adopters come out well. That's true in any venture. But at the end of the day, that doesn't mean it won't be useful as a payment processing network. The amount that early adopters will get out of this utterly pales in comparison to what the big financial corporations are raping you for.
If you think THIS is a scam, read up more on fractional-reserve banking. The debt-driven US dollar is the biggest ponzi scheme ever.
This is exactly how all pyramid schemes work.
Bitcoin might as well be called amway-coin.
Do not look at laser with remaining good eye.