The items I was thinking about was more so equipment for your character, not their in-game mounts/pets or whatever else they've got now. I agree that testing BTC via ponies would be a good idea.
I never played WOW. Does it have ingame carrots? Wow, they're even stackable. |
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Found my username  My computer said it would take 7 years to find your username? Would you be interested in finding a couple vanity addresses for me? Ohoh. You'd have to trust the guy pretty badly. |
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Hmm... just tried it and it seems to be spotty - can't get it to work properly...
What exactly do you mean by "spotty"? I noticed it only shows entries that are close to you (determined probably by ip address). I'll point the author here. |
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I was making no assumptions; I was under the impression that molecular was pondering a way to gift his friend a "pre-loaded" bitcoin address/privkey without being able to accidentally spend the coins himself. I was merely pointing out that there is a way to do this, albeit not with standard, unmodified client alone.
No, I was trying to make the point that we need removeprivkey as soon as we have dumpprivkey. (I know of vanitykeygen and will definitely use that next time I give a key to a friend) I'm all for freedom to import/export as people want.
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Exporting of a key has a problem, doesn't it: the key is still in the source wallet. There's no way to remove it, is there? Even if there is, it's easy to screw up and people will wonder where their money went.
I do not seet it as a problem, so what if I have the same private key in many wallets? Actually for me that is the case, because I store my wallets in many places on the internet. Encrypted of course. That's backup-copies. I have those, too. But say I give a privkey to a friend as birthday present. He imports it at some point and I still have it in my wallet. Now there are two active bitcoin clients showing the balance of that key. If one of the two spends the money, it will disappear from the other client, also. So my friend or I will wonder "where the hell my/his money went" |
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Bitcoin production is supposed to be about 7200 coins per day, which at $13.75/BTC is currently $99,000. So, right now, it takes about $100,000 a day in new money to keep the price of Bitcoins stable.
Why do you assume miners immediately cash in all their mined coins? Obviously they don't, but early adopters sell enough to make the effect roughly the same. Well, that still doesn't allow to deduct "it takes about $100,000 a day in new money to keep the price of Bitcoins stable." |
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The items I was thinking about was more so equipment for your character, not their in-game mounts/pets or whatever else they've got now. I agree that testing BTC via ponies would be a good idea.
I never played WOW. Does it have ingame carrots? |
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I know there are some people here that are VERY opposed to the current bank system. How do you feel about MtGox creating redeemable codes. Do you think the will become to bitcoins, what notes were to gold?
The money is subtracted from your account once you create the code (or note). The only entity that could do fractional banking here would be mtgox, and he can do that very well without any codes (the two balances of the users are purely virtual, we have no proof of either USD or BTC being held by mtgox in the same amount as the total balances. I'm not saying he isn't, just that we dont have proof) A good redeemable bill would be a bitbill ( http://bitbills.com), btw, because you can check the backing bitcoins' existance at any time. Search for easycoin by Atlas here in the forums for more ideas. |
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Bitcoin production is supposed to be about 7200 coins per day, which at $13.75/BTC is currently $99,000. So, right now, it takes about $100,000 a day in new money to keep the price of Bitcoins stable.
Why do you assume miners immediately cash in all their mined coins? |
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Finally, Blizzard could safely allow players into the game even after a 0 confirmation payment, since in the rare case of a double spend they can simply kick the player back out.
heh, now this I hadn't realized before. Image following scene: insanely smart geek wanders into starbucks, buys a coffe for 0.1 mBTC (starbucks accepts 0 confirmation payments), sits down and fiddles with his handheld. He manages to facilitate a double-spend of the 0.1 mBTC. Something beeps. Clerk from behind counter wanders to geek's table, takes geek's coffe and gives it to next customer, points to following sign: "How would you like us double-selling your coffee?" |
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Now let's compare that to buying a prepaid timecard in a physical supermarket. Pretend you're the CFO going to pitch the adoption of a timecard system.
Everyone knows what a timecard is. No one knows what a bitcoin is. See the difference? Timecard? Never heard of that. |
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Please pretend you're the Blizzard CFO and you're about to pitch to the board of directors and shareholders on how the company should accept this new internet currency. What would the Blizzard explanation be for people who want to use bitcoins?
How would I pitch it? As a marketing instrument. "There's a marketing opportunity that will reliably reach 100.000 geeks who are committed to using this new internet currency. They basically buy anything that can be bought with it. It will cost us a meager $10.000 to setup bitcoin payment and take us a week or two to do it. So this is low-cost, high potential reward. I think we should do it." I would _not_ explain to the board how bitcoins work or how they could be acquired. In order to successfully convince a merchant to accept bitcoin, it is not necessary to assume customers would go through the hassle of acquiring bitcoins specifically to buy something from that merchant (this excludes silkroad obviously). That is - quite frankly - highly unlikely as long as other payment options that are already used by the customer are offered. |
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You all had some education at some point. Did you skip out on critical thinking class? You think it's reasonable for bitcoins to reach $200,000 each in ten years?
Do you think it's reasonable for the earth to be spherical? Do you really think humans could survive travelling at speed greater than 30 kilometers per hour? Do you think it's reasonable for information to travel through air without a wire? I'm not saying it will happen, but man, if you see no possibility that it might, you seriously lack some imagination. Did your mother not tell you about having dreams? Or maybe hollywood? p(btc >= 200,000$) > p(btc == 0$), I would say |
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Here's a fun calculation: There are 166,000 tonnes of gold in the world (source: World Gold Council). Each tonne consists of 32,150 troy ounces for a total of 5,336,900,000 ounces. Divide that amount by the eventual total number of bitcoin (21,000,000) and you get 254 ounces of gold per bitcoin. With gold at a US dollar value of $1,600 that would equate to $406,400 per bitcoin. 32150 x 166000 = 5,336,900,000 oz / 21,000,000 = 254 oz per 1 BTC or 254 x $1,600 gold = $406,400 per BTC Do I think a bitcoin will eventually be worth $406, 400? I have no idea... What do you think? It might happen that bitcoin grabs quite a share from gold as globally accepted store of value, but at that time, I predict we won't be measuring it's value in $. We would generally measure value of stuff in BTC. So when will 1 BTC equal one BTC? |
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You should know that whenever you import a private key, you need to trust the one who gave it to you. There is no way around that, not even a patch that would make dumpprivkey remove a key by default. If you do not have the necessary level of trust in the person you're dealing with, you shouldn't be exchanging private keys, but using normal bitcoin transactions.
That said, a removeprivkey would be very useful, as a separate command (i believe i saw an implementation already somewhere). I don't think removing within dumpprivkey by default is safe - what if you intend to write it down on paper, but the computer crashes before you're able to do so? The correct procedure would be dumpprivkey to extract a key, and as soon as it is safe, issue removeprivkey.
Yes, +1 for removeprivkey as extra command. Because without it, how could I trust even myself to not spend the money if I'm not even able to remove the key!?! |
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dumpprivkey only exports, it does not modify your wallet at all.
Should dumpprivkey remove the key from the wallet, though? Not doing so can very easily lead to having the key in multiple wallets. This can even happen to people who are able to patch and compile bitcoin on windows. So please, let's discuss what we should do, because clearly, key import is a great feature many people want. Key export is also wanted by many, but dangerous to bitcoin credibility (I can see the posts: "my bitcoin just disappeared for no reason!! the sky is falling!") in it's current form. My suggestion is to either.. - put key export into separate patch and pull only importprivkey into default, or
or - make dumpprivkey remove the key from the wallet (maybe rename to "removeprivkey" or similar)
What to do? |
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The deflation is meaningless. Predictable inflation and predictable deflation just get priced in.
+1, and: cool glasses! |
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Hope you guy's like it.
jep, very nice. |
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This SHOULD be included in the default client. Reason being, it is incredibly useful for people who know how to use it, and not all of us know how to use linux or feel like spending hours on Windows attempting to compile the source with all of the dependencies.
Discluding a feature like this from anyone who doesn't know how to compile c code would be a terrible thing.
+1 more. This is a very important feature, whether it's exposed to end users or not. Actually, I might have changed my mind (partly) Exporting of a key has a problem, doesn't it: the key is still in the source wallet. There's no way to remove it, is there? Even if there is, it's easy to screw up and people will wonder where their money went. The importing of a privkey is the part that is important for users (bitbill, import key generated with external tool like vanitygen) and this part, luckyly, poses no problems (that I can see), does it? So how about splitting this and putting importprivkey in default, but not dumpprivkey? |
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