I can't wait for someone to write an application that allows group mining of bitcoins. I just can't wait one month to see 50 bitcoins.
I think that you missed the point of the blog article. Heh. I did write the article. But what do I know?  |
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I can't wait for someone to write an application that allows group mining of bitcoins. I just can't wait one month to see 50 bitcoins.
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Nice website! I'll add it to my blog bitcoinblogger.com |
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@mizerydearia, I think the quote button is easier to find then the reply one.
So, theoretical this is a first control system where <some goverment> can arrest satoshi and demand
that he hands over his key (or get it from his computer) and shut down the complete network?
Or is that not possible? How far would <some goverment> get?
A few rhetorical questions for satoshi: Can you resist waterboarding? Can you endure electric shock? All forms of torture? Lastly, are you Jack Bauer by any chance? Seriously. WRT the alert system, who cares? The most the key can do is temporarily disable six json-rpc commands until the site owners either add the -disablesafemode switch or upgrade. All nodes keep running and generating, the network stays up. If I'm not available, any script kiddie can figure out how to add two characters and make a new version that disables the alert system. It would be a temporary inconvenience only. So, theoretical this is a first control system where <some goverment> can arrest satoshi and demand
that he hands over his key (or get it from his computer) and shut down the complete network?
This is what makes me think the people objecting don't know what they're talking about. It can't "shut down the complete network". I admit I didn't know what I was talking about. Just trying to understand what you are doing. |
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@mizerydearia, I think the quote button is easier to find then the reply one.
So, theoretical this is a first control system where <some goverment> can arrest satoshi and demand
that he hands over his key (or get it from his computer) and shut down the complete network?
Or is that not possible? How far would <some goverment> get?
A few rhetorical questions for satoshi: Can you resist waterboarding? Can you endure electric shock? All forms of torture? Lastly, are you Jack Bauer by any chance? Seriously. |
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[Note: I only wanted to discuss the implications of MtGox. Mods, please delete/move to the MtGox thread if not deemed worthy]
I got to thinking: this is pretty much a bank. I can pay and receive balances from Mt Gox, and it never hits my wallet. Very cool! In fact, anyone could get into bitcoins now, and never have to download the software. Non-techies could simply deposit at MtGox and use their balances as their 'wallet'.
MtGox: I'd suggest a data output for all trades with timestamp, price and size. With this info, apps can be created for sites like biddingpond.com which give live exchange rates. Would also like to put the exchange rate on my own sites and blogs. The graphs on MtGox aren't all that, let someone else run with the idea.
Imagine someone writing a blog about bitcoins, and having a live ticker to the current value vs. USD.
I have asked bitcoinmarket.com to write an RSS feed so I am able to add it to my blog http://www.bitcoinblogger.com. He has one but it is using https and not http so I can't add to my blog. |
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I would be interested. Satoshi definitely needs to be there if it were to gather interest.
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Any way we can add www.bitcoinblogger.com to the list of bitcoin sites? I accept bitcoin donations for the moment for bitcoin journalism. Thx. |
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The only way to prove you own bitcoins is to publish the coins' private keys. Please do write the program! Hahaha!
It's all about the show. Cubic zirconia vs diamonds viewing at arm's distance? Same analogy. |
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Bitcoins are certainty a commodity. They are rare, and are valued at about $0.06.
This distinction between "money" "currency" and what not is all linguistic masturbation. All things are governed by supply, demand, and free trade exchange rates.
You have a right to your own opinions, but not your own facts. It is impossible, by definition, for bitcoins to be a commodity. A commodity requires a utility outside of the context of a medium of exchange or a store of value; beyond being simply a currency. Not for you, personally, but for someone. Historicly, gold and silver both have (and still do) have utility as jewlery. Presently, silver has industrial utilities, and gold would also if it wasn't valued so much more than other alternatives. Bitcoins can *never* have any utility beyond their use as a medium of exchange or a store of value; and a FRN or a Euro wouldn't even make decent toilet paper. I can take an iPhone, write a bling-bling application that will show how many bitcoins I own. I can then tie the iPhone to a rope necklace, wear it, and show off how many bitcoins I have. Holla! Jewelry of the future, baby!  |
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I'm sorry, but I didn't care for it. I makes a decent ad, which I imagine was the goal, but it will perpetuate the myth that bitcoins are comparable to gold. This is not so, and should not be repeated. The process may be an online comparable to mining for gold, but gold is hard money. Bitcoins are not hard money.
From "the man with the master plan" himself: It's the same situation as gold and gold mining. The marginal cost of gold mining tends to stay near the price of gold. Gold mining is a waste, but that waste is far less than the utility of having gold available as a medium of exchange. That's what I said. The video is misleading, and will perpetuate the 'good as gold' myth. This is not something that we want to support. It's only an analogy. I believe bitcoins will be better than gold!!! Wahoo!!! |
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I'm sorry, but I didn't care for it. I makes a decent ad, which I imagine was the goal, but it will perpetuate the myth that bitcoins are comparable to gold. This is not so, and should not be repeated. The process may be an online comparable to mining for gold, but gold is hard money. Bitcoins are not hard money.
From "the man with the master plan" himself: It's the same situation as gold and gold mining. The marginal cost of gold mining tends to stay near the price of gold. Gold mining is a waste, but that waste is far less than the utility of having gold available as a medium of exchange. |
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But can you artificially disrupt it? For instance, in the case of Zimbabwe they re-denominated their currency which is 'artificial'. I don't think this can be done with bitcoin.
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Sooooo, I decided to start a blog...I hope no one minds my self promotion. :-) http://www.bitcoinblogger.com/Intriguing: Disruptive Technology To Upend All Banks FOR IMMEDIATE RELEASE The latest word on the Internet is the "bitcoin", a new type of crypto-currency that has the potential to upend all banking systems around the world. What exactly is a bitcoin? According to its main website, bitcoin.org, it is a new type of currency based on a peer-to-peer (P2P) network, which means that there is no central authority to regulate it. Unlike the U.S. dollar, which is mostly regulated by federal banks, the P2P currency cannot be affected by the monetary policy of any government. It is impossible, by logical and mathematical design, that the price of the bitcoin could be artificially manipulated by human intervention. This mere fact gives bitcoin the potential to disrupt the entire banking industry. Many governments of different countries have had a role in manipulating their currency in an attempt to remain competitive. The United States, China, Zimbabwe, etc., have all influenced their respective monetary policies by using currency manipulation techniques. The U.S. Federal Reserve System (informally known as the "Fed") raises and lowers interests rates to spur or slow the economy. The Chinese have kept the value of the yuan artificially weak to boost Chinese exports. In addition, the country of Zimbabwe suffered massive hyperinflation by re-denominating and printing new currency. According to the Cato Institute the highest monthly inflation rate for Zimbabwe was a ghastly 79,600,000,000%! Suppose governments were not able to manipulate currency and everyone had a level playing field. The world could be more fair and economies would be based purely on supply and demand. Bitcoin offers this type of fairness. Since the recent Great Recession superpower countries have proposed instituting a global currency to replace all currencies. For example, one proposal was to take the top currencies and to find the average value. This is a somewhat good idea but the reality is that the politics required to implement such a concept is insurmountable. Instead, many bitcoin proponents would say that crypto-currency is the best idea, since it is based on a grass-roots approach instead of a top-down solution. It is a grass-roots approach because anyone with a computer and Internet connection can download the bitcoin software at www.bitcoin.org. Transactions are peer-to-peer so payments are made directly from one user to another. No middle man or bank is required. Thus, there are no merchant fees or transaction costs whatsoever. Clearly bitcoin is a different type of currency with traits that resembles the monetary characteristics of gold. Anytime any country's currency goes head-to-head with the U.S. dollar then that country gains respect. Bitcoin is growing in value and whenever bitcoin reaches parity with the U.S. dollar it will surely be a force to be reckon with. New bitcoin economies will rise and old banking companies must adapt or fail. If you found this article helpful please donate to the author at this bitcoin address: 1J3zMWdVppQ6nhmxvGoEqMZFUKyZhfbNb8 bitcoinblogger.com |
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in most casinos there is a printer in all the slot machines that print out what money you have left. there is a barcode on the piece of paper where u can put it into another slot machine or go to a casino teller and exchange it for cash. so I think such a concept is feasible since casinos already somewhat have such a system.
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