Thats worth a read, thanks for writing it up and posting online
Dont mind the trash talk FUD if you get any, there is alot of competition between various alt coins for credibility and the still small market share

http://en.wikipedia.org/wiki/Fear,_uncertainty_and_doubt

Is there some reason we need to be storing BC on Bittrex.  I setup an account there anyway.

I quadrupled my BC on recent lows and the staking time has doubled and its not done any staking since the start of the month.   Should I start it over again
(1.1.0.1)

I hope it keeps falling, I want to buy back some I sold sub 10k.      I was buying some gear when it was 20k and sold then so its already been good to have those coins back cheaper, glad if we can continue.
Main thing really is not price but if people continue to use the wallet and coin generally.  Speculation on exchanges should be just minor commentary ideally.   I hold BTC but if I send value somewhere or somebody its via BC or some fast clearance coin.

Anyway Im happy to keep buying, I dont go in for big sell or big buy unless I have to so I just gradually buy; I have no problems holding BC instead of BTC

GPU worked a year ago but it uses too much power, causes too much heat.  Its just the wrong tool, not that its now unable but its been surpassed by cheaper, more specialised gear. 
  If BTC rose to a million bucks each maybe gfx would be worth using ? (or probably not still)


GPU render the same frame sixty times a second with little difference, it happens to suit crypto hashing process very much better then a cpu because of that.

A cpu tries to cache repeated information and it forms hot lines for fast processing but ultimately it is not intended to do such repetitive tasks.  I believe in both cases they would be called pipelines but cpu instruction set is far more complex which shows up now in the coins done by home users, they tend be far more convoluted then bitcoin.   BTC has jumped to asic which is single minded to that task, where the alt coin devs have taken up x11 or x13 coins which use 13 hash codes to encrypt instead of the btc approach of massive difficulty levels

http://en.wikipedia.org/wiki/Graphics_pipeline
http://wiki.darkcoin.eu/wiki/X11
http://en.wikipedia.org/wiki/Specialization_(functional)

Ha thats why I liked this capped sig as I post past the limit every month anyway, I dont have to justify every single post as being valid or not since I make the min 1.6  posts a day by default as would many people.

I cant see theres much better out there except for those seriously posting into hundreds and then they are serious suspects for spam which casts a shadow 

Complexity can make a product more familiar to various parts of society.   Depends if the detail is required or ends up like lawyer speak, alot of trouble and confusion.   My experience recently of using btc was its slower, more expensive and fiddly then just transferring funds from my bank account via paypal which is instant and 2 mouse clicks as Ive already set it up


I was just setting up coinbase which has the wallet listed in Bits and I dont think its helping really.    I still get a long number with decimal point and comma, the BTC amount is actually simpler apart from the extra zeroes in there.
It might be all redundant if BTC value rises properly it will make the sat argument far more viable

The download link on the front page for the wallet doesnt seem to work.     What is the latest version now ?

BC or blackcoin has alot of development in it.   Theres not large amounts of new coins produced so the holders are not being undermined and the devs keep improving it.  Very simple to use, quick and basically no hassle.
  Its listed on a few big exchanges including mintpal and its graph has been on bitcoinwisdom a while.   I will be buying more as its not a new coin and really not hyped hence is very much a 'cheap' coin not peaking as many do on publicity.  A few times its fallen back in price and recovered and due to the more or less fixed amount of coins, future gains in price are once again likely but even without value gains I find it a practical usable coin to hold onto for 2014 and beyond

Thats exactly how it should be done.     I dont use the zeros, its only the silly exchanges which force people to look at it this way.
When can already describe 1 million sats, why is there need for other inventions like bits.     It should be entirely optional and maybe thats fine but nothing further is actually required now

Dollars are far more easy to alter.   Gold is a fundamental element, nobody here knows how stop its atomic properties being the same they have always been - to truly manipulate that market requires significant actions.  We can lie about dollars, it is not a fixed entity at all.   China can lie about its gold reserves or whatever, its really much harder for them to hide.  They are the worlds largest producer now, we can just take a photo from space of their mines if need be, etc.  
 
BTC value is contained in its structure, the failures we have seen have been in websites that revolve around it.   So again its superior to dollar, dollars themselves are flawed cotton notes with a promise written on it

That was within the USA borders.   This was not a fair law, the rich kept their gold outside the country.   Jewellery was allowed afaik.   Any physical possession can be seized, federal agencies do this to this day.  The NSA probably records this website and associated ip and so on

The only way tungsten helps fakes is when trust is involved in the seller.   So via ebay, it might be great way to fake.   If you refuse to buy coins and obviously tungstun can be detected there then bars require more examination but I think anyone spending 10k will have enough equipment to tell a fake tungsten bar from pure gold.    If nothing else, buy from a company you can sue not ebay, a proper jeweller or bar retailer should be actively looking

If I trust the seller or the shop and I make no check then its a good cover, it is a close weight but I believe they can tell fake bars when checked.  Spending 10k or more without doing any test I think would be a mistake and if less then use coins.
 If nothing else when central banks transfer gold bullion, they reforge what they receive.      Here is a vid on ultrasonic for bars, no acid or drilling - http://www.youtube.com/watch?v=5FvM_4B7Pkc

That seems correct but work has been done.     Cotton notes are not able to save or give energy either but they can convey work.   That work can be used in exchange for energy elsewhere and btc will do this also.


The second argument is btc work useful or not, its describing secure and unique hash codes.  The world has found some use for btc in security and so energy spent is useful and can be used in one place and then elsewhere the btc can be reused to pay for energy just like notes are.  
Im not saying btc has to be valued by all and Im not sure any energy company takes btc as direct payment, probably not but in effect btc is conveying energy or if you prefer, work


It does seem viable that places with excess energy will be connected to the internet more easily then they can transport large amounts of electricity ?   If that is the case, btc is being useful to convey work/energy usage ?

No we've discussed that, the weight or the dimensions will be wrong.   Using standard principle true for thousands of years.    The tungsten replacement is a maybe, it is a close weight but a very different metal in its make up.
This video makes the super simple test of sound or vibration and true enough it will catch fakes.  http://www.youtube.com/watch?v=boB4yyS-fDk
That is why I rate coins over bars not that Im burdened by such a choice

Srsly


For that amount of bounty you can probably phone some big guns on this.  Screw making yet another alt coin, people who know their stuff should be on this and probably not just this forum but an agency that can source/advertise relevant bodies

Holy smokes, thats like a dozen ad campaigns in one signature - deserves a medal mos def

There is a risk to saving, the only reason we might believe otherwise is government guarantees.     Everybody here accepts you can give (or lend) your money to someone and they fail to pay it back.    When you deposit cash at a bank, it feels alot safer.   They promise to always return the original amount no matter what.   They promise to give interest usually no matter what also.  
However a bank can fail, either totally or partially they can fail to return the original amount.     Everyone accepts this surely?    Some banks did lend to sub prime, a bank could just fail to keep good accounts, be corrupted or lose via theft.   It might not be their fault but a bank can lose your savings and maybe thats only a 1% risk but its real

When you put cash in a bank it is no longer pure cash.   As said, most banks are using fractional reserve.   There is risk in this and we are risking our cash to get interest.     Now to me this sounds mighty close to investment

Im not going to argue over a word like this, its pointless.  No doubt the FED backs the idea saving is antiquated, they certainly have done their best to make that true

http://www.youtube.com/watch?v=wM1DgihKHVI

I dont believe in import taxes, I think the 1930's law demonstrated that it hurts the internal economy by removing efficient sources of production from both business and people.   Trade balance is needed but any time they force an issue with taxes or laws, its on the wrong road imo and I think it ends badly.   Some countries can just make stuff cheaper, so let them and focus on more specialised industry.   This was the original intention behind wider higher education and then it got corrupted by gov debt funding, etc

Spotted this and figure its relevant.   All the jobs technology has destroyed, tech so bad!  http://t.co/SLb9XKxQpw

Lumpy distribution of newly created money is it.  Thats whats happening, those closest to the FED are the ones who benefit most.   The people to suffer most arent even in USA, they use dollars as their national currency and they dont even receive them till its grubby and used ten times already.  By then the money they get is worth far less then the FED bought its bonds with.  
Hate to say it but its kinda similar to Mugabe paying out his war pensions, the new money worked fine but if you were far down the line in the economic chain the cash worth was far less then half in that case


Cash is a promissory note.   It is a promise to deliver in future some worth.   That is what we use for money now, we used to exchange metal and the coin itself could be melted right.  WE dont do that and maybe its clever but we do have to exchange something.
If I promise to pay you and I dont, its a failed contract.   I know people can get away with it but as an economy, this would not make sense.   A saver or some kind of capital is required behind the money exchanged.  A bill is produced and a payer is required or the note to describe the transaction is no use, so its just allowing transmission of work.
  One day I work hard till tired or ill even and I dont use up all my work in favours, I save my labour to spend another day when I need it.  I think thats roughly how it works,  I rely on the job contract to pay me and utilities who service me then rely on me to pay them,  theres a chain there and Im saving one day to spend another.  Maybe its a really tight chain, I work for the utility company!
 Or maybe its super long chain and the promise is going to Zimbabwe and they send us back diamonds or who knows but its about paying and saving really?

I think comparative advantage is applicable to that one.   It might be expensive and pointless to some but some parts of the world have much lower electricity costs.  This can be seen in aluminium processing which favours local low electric costs but many parts of the world this business is not profitable afaik.

Bitcoin has the advantage of being highly transportable work so more then anything this rules applies.    It would make sense for those stuck with old bad equipment to maybe sell it in bulk to the low cost parts of the world.

Anyhow I think moores law will reduce electric cost over time until the network consumes no more then a LED readout on any device.  On average of course and I get that difficulty must keep rising and so people assume higher electric cost but I dont think its about electric it'll be about technology cost and in the end R&D and maybe silcon production will be the networks processing cost more then other factors

I find the choices kind of a joke there, Fascism is the only choice now in the face of adversity.    Thats funny but I guess it fits the paradigm of the day, only government can save you from capitalism

Of the two I would favour unconditional income as it comes closest to flat taxation.    Qatar has an income of 20,000 for every citizen because of their oil and gas.
It sounds wrong and your suggestion, ( high taxation) but that does not have to be true.  

Actually forced income for everyone could make the country richer.   Paying out money could create budget surplus, not impossible.    It might increase efficiency which is ironic but in comparison to the current 50% gov in GDP its possible that stating outright the interference and making everyone in the country equal in their benefits could definitely be a good thing and inspire greater productivity.
I dont think 20k per person is possible, even if it was of working age only or even 1 person per household.    I think maybe 6k per person is feasible, though obviously the gov is broke but in theory anything is possible with QE.
     As to high taxes, say 25% sales tax nationally would be best to encourage momentum and maximum business which is basically what the FED is constantly trying to do but with sales and negative income tax like this system I do think it is causing productivity increases and only taking from those with excess cash

So what this would do is replace the current welfare state setup where people are encouraged to report inability to work.  This is why a fixed income could be a good thing, its just a base line and an equality creator.
   You give the 9k to everyone and maybe the person with a bad back who sits watching TV takes that 9k and decides to help man the radio for Taxis as well.  Top up their income, of course they would as 9k is nothing much (its far less then current welfare cost I know) and they want more.  
  We always want more, even if I said give everyone 30k a year or 50k people would still want more, that is capitalism and consumerism and basic human motivation which we all recognise.    The good comes from enabling people to go achieve as much as possible.  Take the 9k and use it as seed money and dont look back, its not much but its a fortune compared to some paupers of the world.  
 It'd be a massive boom compared to the welfare, minimum wage, obamacare and the whole line of big gov spending taking over everyones budget, causing less to be done and with more laws as puppet strings for everyones actions

Rest assured that computers are still stupid.   What might be needed is increasing number of people who can utilise the power of a computer to save time or extrapolate intelligence as you say, but the computer itself is dumb.
   The competition is always for efficiency, if one man knows how to do your job by feeding a batch file to some mass produced silcon then the 'blame' lies with that one man who used the tool so well.  

Work does not make people rich, the production or the result of the labour is what makes it worthwhile, makes the money.  If I broke my back the whole year to create a harvest and it rained hailstones for two days and the whole crop is ruined then I got nothing but my job.  I aint got the money or the production but I got my job still and I sure aint happy about my stupid useless wasted time of a job.   Gov coming in to fix that with a bailout because its all a screwup does not change a thing, the job was no good
  The focus is on the result, its the food we need, the job does not matter.   Technology is not an enemy of anyone who wants who needs results

That might be true today but thats wrong in the grand scheme of things.   Saving is not waste, pure cash kept in a biscuit jar sure I guess its not wise but savings deposited with a insurance or savings company is a good thing that supports a community.  This is no longer cash then, it is investment
A country needs capital for investment, it cant always be about debt because where does the money come from to enable that debt.   At some point savings or unspent production must be directed towards investment, it cannot always be about spending every penny you've got.   But hey dont worry, the asians are obsessed with saving, its their problem

I agree about owning your own home and so on but that does require savings also, all debt is not a good idea or basis for an economy to operate on.  Leverage adds risk and timing failure possible.   In the end we see it ends up with government being forced to save consumers from themselves and because this is a democracy this has the country bending over backwards to serve people who failed to save, did not engage foresight in their actions or caution as to the consequences.

 In the end we are all poorer for not saving, for not being to access savings as a nation.  Externally this gap is being covered by foreigners but this brings danger of imbalance and compromised sovereign integrity also