I am glad I got caught in traffic this morning. I was going to buy at 6.6. I got in at 6.18.

But I think there will be another dip this afternoon, then a correction up close to 8.

Dwolla does not usually post funding to MtGox until the end of the day.

And I am guessing that a lot of people were not taking the time to put money into their accounts on the Friday before labor day weekend.

I have a high level concept I am trying to figure out.

tl;dr

Create a program where multiple people can put their money into a single wallet unaccessible by anyone with criteria for when and where it will disperse payments.



tl part:
Distribution
I was thinking of several different scenarios. You can set the time of distribution, say once a week, month, year etc...or once it hits X amount, or you could have all of the people who donated vote on the distribution. You can set the vote to be 1-100% required to distribute with a threshold of sending the money back to the donors if there is no resolution by X day.

Consider a mixed group of people wanting to support cancer research. They donate to this cancer wallet and it is set up to activate either at 1000 BTC, with a vote of 66% for the location of where the 1000 BTC will be sent. If there is no resolution within two months, the BTC is sent back equally to the donors.

Or a neighborhood wants to build a park in an open lot so all of the neighbors put BTC into the park wallet. They come up with a few different ideas and companies and require a 51% acceptance for distribution. Once they get a vote of 51% then the money is sent. Otherwise it either has a date where the money is given back or it is kept there until there is agreement.

Or a club that has dues where the members get to vote on where the money goes.

The Program
This I am not too sure about. The hard part is having a wallet that is not accessible by anyone but the program. The person or server in control of the program could possibly be the weak link there. I do not want to rely on trust. There needs to be a lot of transparency and easy verification.

I could use some suggestions on this. Thanks.

I was wondering about this. Will we be able to buy and sell other currencies?

I am down about ~35%.

I got in in early July when it "came down" to $14.25.

Had I stayed in I would be down almost 50% but I have been jumping in and out based on watching things.

I have a target amount of BTC though and will do small trading until I reach that goal. It has gone up since I started so I am pleased.

Looking long term I know it will go up quite a bit in the long term.

Bitcoin at 50% inflation:
https://bitcointalk.org/index.php?topic=3105.0

Each node should not care whether the packet is coming from a wireless connection or a wire connection or even a connection through the Internet.

I think if each node was paid based on packets transferred then people would be encouraged to come up with easy/fast transfer of data.

I considered using Bitcoin to pay per packet but I think as the Bitcoin value increases and amount of packets passing through a network increases, you would have to come up with a way to raise and lower prices on your node and have the network automatically find the cheapest route. Maybe even having a setting on your browser to pay extra for increased speed if you want.

Except that Bitcoin is at a 50% inflation right now.

Gold is also a deflationary currency and yet its price is skyrocketing.

But if people were mining gold faster than people were buying it, it too would be losing value.

Do not expect major buying on a labor day holiday when all of the banks are closed and Dwolla is not sending money to people's accounts.

Even if it was a regular Monday, the money does not go in until 5PM EDT.

You have another day to wait for the week's trading to begin.

I had an idea for a distributed wireless Internet where each user is also an ISP.

You basically run your computer and allow relay of traffic over your wireless network. You get paid for the amount of packets that come through your network and you pay for using the network. This would encourage people to soup up their transceivers to get as much traffic to pass through their node. It would also give incentive to websites to provide content that would get a lot of traffic outside of advertising.

This would eliminate ISPs, government interference with ISPs, censorship, etc.

I bought 1,000,000 BTC throughout the day yesterday in anticipation of her buying 800,000 Bitcoins.

Has Maria put in her purchase yet?

I have some shopping I need to do this weekend so I might have to sell it all before the end of the day if she was lying.

Bitcoin has gotten back on track of dropping about a dollar a week which was shortly interrupted by the hype of the convention which turned out to be nothing.

The price will probably keep going down until there is enough interest to counter the 50% inflation.

I believe that when the mining reward goes to 25 in 2012 and inflation is cut in half then we will be able to maintain and slowly rise in price from there on with fluctuations.

But until then, it will continue to fall.

So where is the floor?

From the judgement of the users on this forum it should probably be in some Amish town in Indiana.

It is pretty much Ron Paul winning in 2012 or the United States will go Bust.

The question is, how will a United States filled with rioting and destruction affect Bitcoin?

If Ron Paul is elected he may be able to slow the destruction if it is not too late.

As for me, I have already started planning my escape. I have very little faith in my fellow Americans to make the right decision this time around.

Their track record is horrible.

They probably want it in Prague because of the prevalent sex trade..

http://www.rferl.org/content/article/1060878.html


sorry...I just could not help myself..

Yes, because everyone loves being moderated.

You belong in 1984.

They need to just go ahead and plan the conference for Vegas...or Chicago!

Stop Bitcoin?

The 8.5 wall fell! I am shocked!!!

 

Has MtGox frozen?