We do not have a democracy and we certainly will never have it.
Satoshi Nakamoto designed the system in a way that the decisions are
made by the miners. He certainly thought this would enforce some kind
of democracy: Everybody could run a miner on his PC and setting up
some kind of dedicated high performance computer systems just for this
purpose should not pay out.
He was not aware of ASICs and the concentration of mining power in the
hands of a few people.
However, even if miners finally can decide what to do, there are
strong forcing for a consensus and for a conservative behaviour:
- miners who create a fork will sit alone on their chain.
- miners have to respect the technical constraints (bandwidth etc)
otherwise they are lost.
- Miners have to serve the community, otherwise the price of bitcoin
will fall and they will not make any profit (in fiat).
- Large miners depend on profits in fiat: they have expenses in
electricity, hardware cost, infrastructure, etc.
- Small miners can ignore these costs, so there is still some chance
for democracy. Be aware of your power!
The code developers do not have any power. Everybody can set up a fork
(as XT). But in order to succeed he has to achieve consensus.
To conclude: I like bitcoin very much. It is anarchy with a very
strong forcing for consensus. It now has survived for approximately 5
years. It is really interesting to see how this system will evolve
further under real world conditions. Bitcoin is in beta status and a big
experiment. I am looking forward into the future.
yup exactly,miners vote with their hashing power. Bitcoiners could vote with their funds too its just not directly built into the software. But there is no reason coinage voting couldnt exist. Yes, consensus. There's nothing wrong with that except that the actual quantity of people needed to get it is probably too small. We would have the same problem with coinage voting, but it would be better as there are always more and more people owning BTC, in total opposition to miners, who are fewer and fewer. Most of us bitcoiners should participate and also bring our opinion on the said topic. We have also created a poll question with this one. You can use your bitcoin signatures to vote for your chosen opinion here http://coin-vote.com/poll/55e8a33299baadff0a34acb7 |
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Looks like we have new nr1 on Songcoin rich list
Yeah.. blockexplorer seems to explore again. hopefully we get into the magic number and difficulty will go down a little  |
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Stressed man,I be stresssed!!
Time frame for this?
Planned to take action on sept, 10. They didn't tell how long it will occur but they are aiming 30 days of backlog transaction. Thanks. I did not really get to much disturbance the last time,so hopefully about the same this time. Fingers crossed. Yeah hopefully it will not do interruption regarding the confirmation  |
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You have to know that you can generate coin with POS using the wallet on a virtual machine and let it works h24.
So you can have a lot of coins without expensive hardware.
Yeah but you must have more coins to have more profit and also need to unlock your wallet to make it work. POS also somehow bring more buy's on the coin. |
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I have purchase a 2tb western digital on metrodeal but they do not accept bitcoin anymore  |
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I wonder if they have laws applying to pump and dumps. Ponzis are straightforward fraud. I don't see how they can nail people for pump and dumps in an unregulated market. You'd have to prove intent plus they gotta find them first.
Well Ponzi schemes are regulated and they can be prosecuted under those laws. I can understand why they need to do this. Ignorant Consumers need to be protected from these ruthless predators. A lot of the people falling for these scams, lose a lot of money. One of these victims might be one of your family members or a close friend. Let's name and shame them to protect our community. Yeah I think its time to make some move to protect the community. At least they are trying |
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Great..!! This such a wonderful. hopefully others will also consider to make a step |
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Guys I thinks you can share you opinion on the topic to this site http://coin-vote.com/ it uses bitcoin signatures for voting.  |
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Voting/poll for the Magi picture contest will open tonight! I will post the link here. Hi magic I would just like you to know about this voting platform. http://coin-vote.com/ hope it can help. if you need the communities opinion. It uses bitcoin signature. who knows in the future if magi will also be use in it. |
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I have been a miner since 2011 and I find the Mining and Technical discussion sections very informative. This is why I continue to visit this forum. You can't find the wealth of information that you can find here elsewhere.
As for the Bitcoin Discussion section, to be honest, I consider it to be mostly chit-chat and not to be taken seriously anymore these days. For technical reasons, I am against BIP101, so maybe I am don't feel the alleged censorship as others who are for this BIP might.
Mine was introduce by an employer. Since then i like to hangout in here. I didn't usually make a post. So i stay newbie after a year. As for the issue in resizing the blockchain. You can share you thoughts here http://coin-vote.com/poll/55e8a33299baadff0a34acb7 I think it is also relevant. |
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Most of the proposal are all subjective to much further discussion and test and all must agree with the one that is most reliable. This is somehow relevant on the discussion. http://coin-vote.com/poll/55e8a33299baadff0a34acb7 you can share your thoughts in there. cheers |
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Mine was given to me by a employer who also want me to learn bitcoin "I think that was feb 2014". I have first ask him to pay me in paypal and he did so. then he also give me a $10 worth of bitcoin. I don't know what to do with it that time. until I have found a service that exchange it for peso. Until now I have prepared bitcoin over another payment service. |
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There is also a Vote checking tool included on vote info. Where a user can also check and interact with the blockchain to check the validity of each vote |
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Voting/poll for the Magi picture contest will open tonight! I will post the link here. omg iam so excited, tonight on here i mean on this thread? so is that all of the participant eligible for voting/poll or you're going to eliminated other participant? i wish iam the one of them and chance to win The voting/poll will be on bitcoingarden. I'am working on it now!  You can also make the voting here http://coin-vote.com/ although it uses bitcoin |
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I'am using bitcoin-qt and multibit.
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Maybe invest it on software developments. like website, etc.... but you must first understand some ins and outs of it |
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Hi good day to all.. Has anyone tested magipay recently? Please let me know if you are still having troubles. |
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Did somebody tested the Magi standalone payment gateway yet? Think some feedback would be nice.
I think it will be a lot faster than 1 hour.
But we only know after trying this.
So if somebody did pls share some results!
The last time I tested (about 3 months ago) it was taking 3-6 minutes to get IPN message. And up to 10 min to get the coins confirmed in your address. Unfortunately there were some random issues with SSL or table locking or something else. Currently when I try to call a box I get "ERR_EMPTY_RESPONSE" ... Hope Joe will get back to us soon Thanks for you response. Yeah I'm also waiting for joe. Sometimes magid doesn't allow rpc command thats why the server make an empty response. but you can test it now. don't know if I have to update magid. |
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The Magi pay site looks very interesting. I've been thinking about trying to integrate this into the web application that I've been thinking about building. (Nobody hold their breath waiting for me to complete it please, I've a slight tendency to plan on things that I've troubles getting done) Just a couple of thoughts on clarification and potential enhancements that might be useful. It states that it takes an hour for the payment to be received by the merchant; is this so that the block chain can be confirmed? Is there a way for the merchant to be informed that the customer has started the payment process at the time they make payment so that they could perhaps be granted limited access to resources on good faith? Is there any type of arbitration or escrow type service planned for the customer perhaps so that web merchants that accept XMG through the merchant services can be trusted? (Maybe some customer feedback or other indicators that the merchants are legitimate?) Perhaps even requiring a certain amount in an escrow balance from the merchant would be enough to establish good faith on the part of the customer and not burden the merchant services (acting as a neutral third party) with this. Example: Lightplasher to offer a jar of blackberry preserves through his website at $5.00 USD or equivalent XMG. It would be nice to receive payment in XMG and not worry about how customer originated the payment (USD, Greek coins, using Paypal on Magi Pay, etc.). Once customer starts payment they are granted access to the special web customers only access page. After further inspection and reading reviews the customer decides that Lightplasher is far too esoteric to order blackberry preserves from and requests a refund through the merchant services. If the dispute arises prior to shipment the customer easily gets refunded through merchant services. Perhaps you all can see why I mine cryptocoins instead of working for clients or canning blackberries. (I should get 20 or 30 jars of blackberries this fall out of my backyard – any takers?)  Interesting points you have their. About the confirmation time. It only takes 5 minutes for the merchant to receive the payment. There are also a response on the mechant server when a customers has already made the payment. Nice thoughts with the escrow but I will wait for joe on what he thinks about it. About the multi platform payment. Somehow we can do it in the future. lots of things needs to be taken care of in terms of legality. |
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