Mondato 'Global Value Transfer Experts' - A Delaware company specializing in international value transfer and 'Specialists in mobile financial services' has published a newsletter (via email) on Bitcoin: Underground Remittances - From Hawala to Bitcoin 2012-06-20 http://www.mondato.com/en/articles/underground-remittances---from-hawala-to-bitcoinIn countries where remittances are illegal or strictly regulated, diaspora populations have devised innovative ways to send money home. We look at a few difficult-to-access countries to see how money makes its way in, and if these underground corridors might soon go mobile. Bitcoin: Disruptive Force, or Security Hazard? Bitcoin, a peer-to-peer digital currency, has the potential to be a truly disruptive technology in the mobile payments realm, particularly in emerging markets. But will security risks prevent it from garnering mainstream appeal? ... About Mondato: Mondato is an international value transfer portal. We offer a consumer search function to enable people to find options for money transfer (and eventually other forms of value transfer such as airtime and bill payment) that best suit their needs. Mondato is also a business-focused knowledge source for entrepreneurs, businesspeople, investors, analysts, and others who need to stay on top of the industry from the perspectives of mobile operators, banking and financial service providers, regulators, NGOs, and more. ... more: http://mondato.com/en/about_us |
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Then when Bitcoin becomes a threat the banks lobby the US govt who links Bitcoin to terrorism and seizes the gold which combined with the media reports causes Bitcoin to crash. +1 Bitcoin is a base value, which is backing only by how people value it. Like gold. ^this. Centralized backing is a point of attack and if when attacked, would probably result in a psychological kick in the nuts to Bitcoin. (perhaps not fatal, but possibly enough to set it back years/decades) Conversely - Bitcoin has bootstrapped itself just fine without it, so it seems it doesn't need any psychological trick like this to thrive. |
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n/m I understand now. It was stupid and confusing of the meme guy to call it a white paper.
It was also obnoxious,cynical & egotistical. Stupid, because the people who might have contributed to refining his ideas to evolve something actually worthwhile will have a natural gag reaction to the gall of this guy. When I floated the joke idea of a user defined currency backed by the value of the Mona Lisa, according to him, I "actually COULD release monacoins as a user currency, and you COULD drive their value to $750 million each" https://bitcointalk.org/index.php?topic=88107.msg976078#msg976078Now.. I'm not entirely sure there isn't some interesting way in which sub-currencies could be piggy-backed off the bitcoin chain - but at some point he's gone off into lala land, and if my examples of 'MonaCoins' and 'BattlestarGalacticaCoins' don't clue him to that - I suspect there's no hope for him. Ultimately I fear that if bitcoin is reasonably successful and results in a decent windfall for a large population of early adopters - then a scheme such as his could unfortunately get an irrational exhuberant pump from naive latecomers, and in the end cause a nasty blowback for bitcoin itself. |
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I hereby create a user currency 'MonaCoins' with the following properties ...
- Target value - The assessed value of the Mona Lisa, adjusted for inflation (currently about $750 Million USD)
- 'Only' 1000 of these coins will ever exist... I already own a few hundred.. so get in fast!
Of course, this *fabulous* offer is not without risk, because if the Mona Lisa is ever destroyed - MonaCoins will be worthless.
Don't worry though.. as the holder of several hundred billion dollars worth of monacoins, you can rest assured that I will be spending a small fortune on a private army to guard the real thing.
Coming soon.. my next coin: 'BattlestarGalacticaCoin' - tied to the theoretical cost of constructing a fully functional Battlestar Class Military spaceship (yes - with FTL drive!) - as assessed by a team of the best scientists,futurists and sci-fi geeks!
If you see no problem with driving the price of a few thousand competing mysterious internet entity's "OilCoin" or "GoldCoin" offerings to their target price despite them not even being in the oil or gold industry - you should have no qualms at all with my innovative Art-Backed and Future-Technology-Backed coins.
What could possibly go wrong!? These are sure to hit face-value faster than the 2011 bitcoin took to hit $100! Up Up Up baby!
 I'd just like to point out that you actually COULD release monacoins as a user currency, and you COULD drive their value to $750 million each. The only problem is that there wouldn't be much demand for them, so the protocol would never release more than a tiny fraction of one coin. I'm afraid you would not be able to hold hundreds of them unless you did something different than what I described in my paper. No no.. it's a user defined ticker right? I'm up front about about that.. it's defined as a curve to start at 0.0000001 of a % of actual value and ramp up in a strictly defined manner over time to the ultimate target of 100% of the Mona Lisa's value. All of my family and friends completely random investors/art appreciators are cool with this.. and as the current ticker target price is still 'only' around 1% of the ultimate value - What a bargain! you too can get in now for massive upside! Seriously though - what is to stop someone using a ticker curve that favours early adopters? Only the 'intelligence' of the marketplace seeing through that play? Ha! |
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1) Why aren't I filthy rich yet?
Sadly, because the money lies in continually attempting to overestimate the stupidity of the general public, whereas Bitcoin underestimates it. |
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Thanks for the explanation Krakonos.
I'm still unclear on whether the existing shares I've contributed really will increase in reward over time, or if it's just that in theory my 'luck' will get closer to the pink area in the end.
The upshot of this is.. over 5 days I've got 21% of what I expected :/
I have some other rigs pointed at btcguild and I'm getting the expected returns for my hashrates.
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Betabeat has always been nothing more than a news site regurgitator. They find something and copy it with a few changes.
Actually It's sometimes been the reverse. I don't recall offhand which article it was, but I remember noting how influential Adrianne Jeffries could be in that one of her stories was picked up as the primary source for various other articles. She used to be more in touch with what was going on in the Bitcoin community. |
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I seem to be getting an extremely low return for the current 400MH or so I'm throwing at eligius.
0.28BTC total over about 4 days (from mining calculator I expected about 0.25 per day)
I took a look at some graphs from other users at about the same MH, and they were getting more.
Below are my recent blocks and rewards.
Take line 2 for example - I don't understand why 3,515 shares * 0.00001919 gave me only 0.03085898 reward.
I calculate it should be about 0.067
Is this addressed in the FAQ somewhere? I'm not understanding what's going on.
19 minutes ago 4h 7m 8s 1,488 973,421 0.00005136 BTC 0.03168119 BTC 116 left …313B9AA65606EB1FE0279A0B4
about 4 hours ago 10h 13m 21s 3,515 2,605,474 0.00001919 BTC 0.03085898 BTC 81 left …3EFA7966240788E4FC27E21D0
about 14 hours ago 8h 57m 1s 3,106 2,419,985 0.00002066 BTC 0.02902374 BTC Confirmed …8DF80D12D7EDC632619FA2AE8
about 23 hours ago 6h 7m 55s 2,111 1,754,130 0.00002850 BTC 0.02735966 BTC Confirmed …F0DDCEC260A44E74B1C2A1BD2
about 1 day ago 4h 56m 47s 1,684 1,434,352 0.00003485 BTC 0.02622993 BTC Confirmed …0627353E0783620E6E965938D
about 1 day ago 9h 55m 23s 3,627 3,049,598 0.00001639 BTC 0.02531935 BTC Confirmed …D67A75AC6B630C32B693FBA8F
about 1 day ago 5h 19m 7s 1,861 1,623,054 0.00003080 BTC 0.02322007 BTC Confirmed …3705A0EC06C7114D541DD4197
about 2 days ago 1h 47m 47s 634 535,567 0.00009335 BTC 0.02210366 BTC Confirmed …90E9A48E8985CD4523E1AB9DC
about 2 days ago 3h 56m 50s 1,367 1,178,195 0.00004243 BTC 0.02171143 BTC Confirmed …B2EA25383DCD619C9ECA04480
about 2 days ago 29h 18m 36s 13,224 9,416,904 0.00000530 BTC 0.02087447 BTC Confirmed …3D4D1F3A970B33367A603511A
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I hereby create a user currency 'MonaCoins' with the following properties ...
- Target value - The assessed value of the Mona Lisa, adjusted for inflation (currently about $750 Million USD)
- 'Only' 1000 of these coins will ever exist... I already own a few hundred.. so get in fast!
Of course, this *fabulous* offer is not without risk, because if the Mona Lisa is ever destroyed - MonaCoins will be worthless.
Don't worry though.. as the holder of several hundred billion dollars worth of monacoins, you can rest assured that I will be spending a small fortune on a private army to guard the real thing.
Coming soon.. my next coin: 'BattlestarGalacticaCoin' - tied to the theoretical cost of constructing a fully functional Battlestar Class Military spaceship (yes - with FTL drive!) - as assessed by a team of the best scientists,futurists and sci-fi geeks!
If you see no problem with driving the price of a few thousand competing mysterious internet entity's "OilCoin" or "GoldCoin" offerings to their target price despite them not even being in the oil or gold industry - you should have no qualms at all with my innovative Art-Backed and Future-Technology-Backed coins.
What could possibly go wrong!? These are sure to hit face-value faster than the 2011 bitcoin took to hit $100! Up Up Up baby!
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Slides from xebicon 2012 (Dutch IT conference held in Maarssen 2012-06-05) Looks like a fairly basic intro to Bitcoin. |
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The Silk Road 2012-06-18 http://a-i-r.com/2012/06/the-silk-road/... After the funeral it came to light that Elliot had recently turned to buying his drugs online and having them shipped to his door. He had been using an online marketplace known as the Silk Road and a peer-to-peer digital currency service called Bitcoin. ... The currency used to purchase items on the Silk Road is known as bitcoins due to their resemblance to the bit torrent technology used in most online piracy. A user takes real currency and trades it online for bitcoins and then uses this non-currency to make transactions. ... If there is a lesson here for those of us on the front lines of addiction treatment it is this: to stay in the fight we need to be up to speed on the opposition’s newest tricks and tools. We need to understand who is selling drugs to our friends and families, how they are being disguised, and by what circuitous routes these drugs are being delivered. I am not a computer pirate/hacker/expert and this new shady world frightens me – but, forewarned is forearmed. ... |
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julz, I think it's safe to assume it wasn't aimed at you  eh.. I guess so. It just occurred to me that people may expect the OP comments to be kept reasonably neutral.. and save the opinion for response posts... but this one clearly irked me a bit! |
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Yes, creative indeed. Luke would show to those religious freaks that it's possible to believe in Bitcoin and Jesus at the same time. Just wait till they see the prayers embeded on the blockchain. They'll start to love Bitcoin in no time meh.. I'm happy for the religious freaks to misunderstand it and miss out on a slice of the new economy. In a world where money buys influence - this is a great way to help disenfranchise some of the nutbags. Luke-Jr is a disturbing anomaly  |
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-1
For my commentary.. or the betabeat meta-article... or the underlying 'meme' stuff + 'whitepaper'? |
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Adrianne Jeffries has decided the recent ramblings of one of the community's more prolific and self-important referral-spammers and persistent peddler of incomprehensible pipedreams (dacoinminster) is newsworthy/noteworthy. I don't agree.. but here it is. 'bitcoin whitepaper' !?? I'm all for people putting their imaginative nutbaggery 'out there' for community review - but really.. this is a bit obnoxious :/ |
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BitCoin: The Future of Money? Chris Southcott 2012-06-18 http://techgeek.com.au/2012/06/18/bitcoin-feature/... But, in the end, it’s just amazing to have a currency available that works globally. And I really think it could have potential, with more work to make it user friendly, to become huge. Hopefully, for the developers and owners of BitCoins, this is right. |
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