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Title: Would you run a client with a built-in "tax"? Post by: Ground Loop on July 23, 2010, 09:16:11 PM If you could download a Bitcoin client that computed hashes at twice your current rate, but sent 5 of every 50 bitcoins awarded to the software developer, would you run it?
Title: Re: Would you run a client with a built-in "tax"? Post by: FreeMoney on July 23, 2010, 10:53:29 PM If you could download a Bitcoin client that computed hashes at twice your current rate, but sent 5 of every 50 bitcoins awarded to the software developer, would you run it? Taxes aren't voluntary. Might be willing to pay a fee though. Title: Re: Would you run a client with a built-in "tax"? Post by: NewLibertyStandard on July 23, 2010, 11:23:20 PM If you could download a Bitcoin client that computed hashes at twice your current rate, but sent 5 of every 50 bitcoins awarded to the software developer, would you run it? No, I wouldn't. If I released a Bitcoin client that looked like it was hashing twice as many hashes, but actually wasn't, and also donated 5 bitcoins out of every block of received bitcoins, would you run it? If you have such code, just release it. It will strengthen the network and promote the adoption of a version of the client with other improvements besides your improvement. If you really did release code that doubles the hash speed, I'd be more than happy to donate at least 5 bitcoins to you. Actually, probably more than 5, but I'm not sure how many.Title: Re: Would you run a client with a built-in "tax"? Post by: knightmb on July 23, 2010, 11:39:07 PM If you could download a Bitcoin client that computed hashes at twice your current rate, but sent 5 of every 50 bitcoins awarded to the software developer, would you run it? The speed comes at a price, if you visit the developer area, there are several members who have released highly optimized/customized compiled binary for BitCoin client using the source that will get you that speed increase, but the application can crash randomly so you might not generate anything overnight if you aren't watching it 24/7Title: Re: Would you run a client with a built-in "tax"? Post by: Ground Loop on July 24, 2010, 01:17:31 AM Interesting replies.
I don't have such a client -- just to clear that up. What I'm getting at is this: If BTC were highly valued, and a very clever-but-selfish developer had an exceedingly fast client (say, someone gets CUDU running on all cylinders, or hand-crafts SSSE3 for i7), would they be better off retaining the program for their exclusive use (during inflation), or offering it for 'sale' by effectively charging a fee for every find. I suspected it would be more profitable to distribute it with a small fee, but the reception sounds a bit... less favorable. Title: Re: Would you run a client with a built-in "tax"? Post by: kiba on July 24, 2010, 02:14:26 AM Interesting replies. I don't have such a client -- just to clear that up. What I'm getting at is this: If BTC were highly valued, and a very clever-but-selfish developer had an exceedingly fast client (say, someone gets CUDU running on all cylinders, or hand-crafts SSSE3 for i7), would they be better off retaining the program for their exclusive use (during inflation), or offering it for 'sale' by effectively charging a fee for every find. I suspected it would be more profitable to distribute it with a small fee, but the reception sounds a bit... less favorable. The difficulty would just goes up and make it harder for you to generate bitcoins. Title: Re: Would you run a client with a built-in "tax"? Post by: SmokeTooMuch on July 24, 2010, 02:24:07 AM doubling the hashspeed would double the expected value for generated bitcoins in a certain time.
as long as: expected value - tax = higher than the expected value before doubling the hashspeed (without taxes), I guess I'd use it. Title: Re: Would you run a client with a built-in "tax"? Post by: knightmb on July 24, 2010, 03:50:21 AM Interesting replies. If he used it for personal use, then sure he could keep it to him/her self. But I think this being open source software, he couldn't legally do that.I don't have such a client -- just to clear that up. What I'm getting at is this: If BTC were highly valued, and a very clever-but-selfish developer had an exceedingly fast client (say, someone gets CUDU running on all cylinders, or hand-crafts SSSE3 for i7), would they be better off retaining the program for their exclusive use (during inflation), or offering it for 'sale' by effectively charging a fee for every find. I suspected it would be more profitable to distribute it with a small fee, but the reception sounds a bit... less favorable. There are a lot of gray areas about that would be beyond the scope of this topic I'm guessing. Title: Re: Would you run a client with a built-in "tax"? Post by: Bitcoiner on July 24, 2010, 03:49:47 PM Interesting replies. I don't have such a client -- just to clear that up. What I'm getting at is this: If BTC were highly valued, and a very clever-but-selfish developer had an exceedingly fast client (say, someone gets CUDU running on all cylinders, or hand-crafts SSSE3 for i7), would they be better off retaining the program for their exclusive use (during inflation), or offering it for 'sale' by effectively charging a fee for every find. I suspected it would be more profitable to distribute it with a small fee, but the reception sounds a bit... less favorable. The difficulty would just goes up and make it harder for you to generate bitcoins. But it would go up less if you were the one with the fast client and everyone else had "normal" clients. If you distributed such a fast client to everyone, then yes, the benefit would cancel out. Title: Re: Would you run a client with a built-in "tax"? Post by: knightmb on July 24, 2010, 05:01:24 PM Interesting replies. I don't have such a client -- just to clear that up. What I'm getting at is this: If BTC were highly valued, and a very clever-but-selfish developer had an exceedingly fast client (say, someone gets CUDU running on all cylinders, or hand-crafts SSSE3 for i7), would they be better off retaining the program for their exclusive use (during inflation), or offering it for 'sale' by effectively charging a fee for every find. I suspected it would be more profitable to distribute it with a small fee, but the reception sounds a bit... less favorable. The difficulty would just goes up and make it harder for you to generate bitcoins. But it would go up less if you were the one with the fast client and everyone else had "normal" clients. If you distributed such a fast client to everyone, then yes, the benefit would cancel out. |