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Have you gotten a chance to publish a raw HOWTO from scratch?
(also, I'd be more keen to follow your tutorials if you did not use colors (particularly yellow)).
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In the next 2-5 years BTC will likely be higher than AAPL in $terms.
Even if BTCUSD remains at 14$...!
Because the upcoming major stock market crash will bring back AAPL to the teens (and I love the Apple brand, have nothing against them, but consumers will not have the $'s left in their purse or credit to affort those high margin Apple products).
Certainly your guess as to how AAPL will respond to lower consumer purchasing power is as good as any. But both Greenspan and Bernanke hold the stock market darling with no regard for base M0 monetary inflationary policy. The lesson Keynesians learned from '29-39 was that contraction of the money supply was both cause and effect of the stock market collapse. The Fed is now buying assets with printed money to prevent both. No, the stock market won't deflate, the Fed will just claim commodity supplies are decreasing, naturally increasing prices on tangible necessities. |
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Has anybody asked what happens if at some point you give out your 4-bit address to receive some BTC from a new friend and they give the BTC's to a complete stranger? It just doesn't sit well...  You mean if there is a mistake? The coins would be gone. I'm assuming Bitman misgrokked the concept, as I and many others did before the moment of ah ha zen. If the following were the ENTIRE block chain history, then the underlined prefix will have been and always will be their first bits: 1h8sjkl123456789 January 1h8sxx123456789 February 1h8abc123456789 March 1h7123123456789 April 1h8sww123456789 May 1z987asdf9isfhakls June |
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Another possibility:
1.1 - - 1.1
0.001 - - b.1
0.000001 - - b.b.1
0.000000001 - - b.b.b.1
1.00001 = 1.b.10
0.100099 = b.100.99
0.230001 = b.23.b.1 b.230.1
0.001100999 = b.1.1.999 b.1.100.999
0.999000000099 = b.999.b.b.99
0.464928532585 = b.464.928.532.585
The Hindu-Arabic numeral system is dead! Long live Obfuscation! You want to replace 1500 years of mathematical expressive excellence with what? |
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Assuming everyone is from America/UK, and that English is their main language, is kind of a douchebag thing to do, especially on an international forum for an international currency.
As a douchebag myself, I take offense to being compared to those from America/UK. |
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I've often seen people write 0.97 cents when they actually mean 97 cents / 0.97 dollars.
100 cents = 97 cents / 0.97 dollars (  thanks for correcting my yocto ) |
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Deepsea mining has to be 10x more costly than onshore extraction.
Mining difficulty is already priced in.
Price follows difficulty.
Thread successfully derailed.
Gold miners do not set the price of gold as much as the price of gold determines the profits of miners. Consumable energy (rather than spent energy) has a value equal to the value an organism sets for its life (infinite?). Only competition keeps oil prices down. Neither statement can be said about bitcoins. |
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no names exits for 4,5,7 or 8 places
0.1 deci 0.01 centi 0.001 milli 0.000001 micro (since 1960) 0.000000001 nano (since 1960) 0.000000000001 pico (since 1960) 0.000000000000001 femto (since 1964) 0.000000000000000001 atto (since 1964) 0.000000000000000000001 zepto (since 1991) 0.000000000000000000000001 yocto (since 1991) http://www.bipm.org/en/CGPM/db/19/4/xenta, wekta, vendeka, udeka... http://mrob.com/pub/math/ln-notes1-3.htmlEDIT: yoCto |
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0.000023BTC will become known as $23μ
We'll just write 23μ as no other currency will be so deflated. n$23 will refer to "new dollars" which won't even buy you lint. |
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kgo, pretty cool. What's your connection to this? Or you just happen to have a short dozen you want to sell?
How does this relate to bitcoin? Do you encrypt your wallet to yourself? I conventionally/symetrically encrypt the wallet, so I'm vulnerable to key loggers and of course during the few minutes while the wallet remains in use on my disk.
I had two or three spare cards around. They were the only thing was able to reliably sell on #bitcoin-otc. Since the cards come from Germany, shipping can get expensive. I decided to order a ten pack along with some readers and see if I could sell them all for bitcoins. You can use gpg to encrypt wallet backups. I do. But there are other methods that are just fine. But there's no direct integration with gpg. gpg is used more extensively on the #bitcoin-otc web of trust. If you're unfamiliar, it's a feedback system like Ebay, but based around gpg. It also lets you ensure that the person you're talking to is indeed the person with the good rating, since someone could log onto the channel with your name. I'm intimately familiar with PGP and OTC. Don't get me wrong, this sounds cool (though without integration now I wonder about the work flow/use case). My question is this: Currently I use GPG to symmetrically encrypt my wallet (gpg -ca wallet.dat). This requires me to create a passphrase as it is not encrypted with my public key. I delete the plaintext wallet.dat. When I want to use the wallet, I (gpg wallet.dat.asc). Then I can use the bitcoin client and when I'm done, I delete the wallet.dat file (perhaps I re-encrypt for backup). This work flow makes me vulnerable to (1) key logging attack and (2) malicious copy while the wallet.dat is on the disk in plaintext. Now, suppose instead, I use the smart card. Somehow I manage to securely place a copy of my private key on the smart card. Now, when I want to decrypt a wallet (encrypted to me as recipient using public key cryptography) I send the passphrase from my computer to the smart card. The smart card decrypts my wallet.dat and drops it in plain text on my disk. In both cases, I have exposed myself to the exact same two attack vectors. No? |
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To run Firstbits, you need a complete copy of the block chain. Most nodes will not have a full copy in the future, so you'd have to rely on a central service.
The miners as always would require the entire block chain to discover the public key corresponding to the 'first bits' but the sender does not. The sender only signs a transaction to an address, he does not verify that the receiving address is valid nor that anyone has the corresponding private key. Firstbits seems broken right now:
Firstbits.com happens to also be a web service by the same name. But the concept is decentralized. It is a deterministic FACT derived from the chronological appearance of addresses in the block chain. |
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It makes more sense to color the units or medium, not the number.
In China: 1 Yuan (元) = 10 Jiao (角) = 100 Fen (分)
In Britain (<1971): 1 pound (£) = 20 shillings = 240 pence
Spanish silver dollar (peso): 1 = 8 pieces of eight
Bitcoin: 1 btc = 1000000 µbtc
If you enter 0.5 bitcents - the entry interface is silver - but the scale of the transaction displayed at confirmation is blue for 5 millicoins. It's up to UI designers to make it all neat and intuitive (no trivial feat) - but at least if there was a general consensus on colours/names/recognisable icons.. this sort of thing could be a useful clarification aid and error checker. I'm not sold on the colors. What problem are you trying to solve? Are you asserting that people can't handle decimals but they can handle large integers? If that is the case, then just deal in µbtc or satoshis exclusively. We as a society seem capable of discussing $100 trillion USD without the need for colors. |
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As far as indicators/alerts for bitcoin trading, I was thinking volume spikes on the 1 min time frame and some other basic stuff like Standard Deviation, avg volatility,along with some other over bought/oversold stuff....
I'm thinking an interface like mtgoxlive in which I can just click buy and sell orders along the price axis on either side of the bid/ask divide. I want a 'clear all' button. I want to set how many units per click. I want to see my buys and sells explode as they are matched on the market. I want to see my average past sell price and my average past buy prices. I want to see my rate of gains in both currencies over time (on the same chart). A single click could execute a function of a series of buys and sells in 1% doubling increments or set a bouncing window/path. |
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Monetary inflation is an efficient but very specific type of tax, namely a tax on long term savings, not immediate consumption.
I believe that common health services (such as inoculation against contagious diseases) can be most efficiently provided and most beneficial under a monopoly. I prefer to live in a society where a minimal level of education can be expected - particularly if I rely on my peers to vote wisely. It is my experience that crime is minimal (or at least less apparent) in countries with greater welfare/taxes. I am not sure what law would mean without a regional monopoly. These are services for which I happily pay a monopoly: health, education, law. For when others benefit from these services, I benefit two-fold.
You're getting the cause and effect mixed up. Most countries have as much socialism as they can afford. What cause/effect -- That a country first prioritizes services and then attempts to afford them with taxes? You may be right. It may be impossible to find an example country that does not waste money in economically irrational but populist adventures (Singapore?). But my assertion is that some countries attempt to pay for both their rational and populist services (N. Europe) while others such as the United States pass the bill on to the future/collapse. |
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I'm only worried that when 10 000 dollars and euros buy a troy ounce of gold, the miners won't be able to afford to keep the network lit. Otherwise, I'm shorting euros with bitcoin.
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I was trying to explain what day trading was to a 10 year old girl. When I suggested she could do it, she said it looked boring. That got me thinking. It could be made 'game like'.
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1 btc = 1 barrel crude = 3 oz ag = 0.1 oz au = 1000 usd, 25 December 2011
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It makes more sense to color the units or medium, not the number.
In China: 1 Yuan (元) = 10 Jiao (角) = 100 Fen (分)
In Britain (<1971): 1 pound (£) = 20 shillings = 240 pence
Spanish silver dollar (peso): 1 = 8 pieces of eight
Bitcoin: 1 btc = 1000000 µbtc
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As long as http://blockexplorer.com/q/decimaltarget divided by the number of addresses with a balance is greater than one, it will be more profitable to generate a block than attack the key space. 17248274092338559882155796390905381469049315669915374897.332224 > 1 |
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Perhaps my reference to anti-socialist Europe haters implied that the northern European country I referred to was in fact socialist. You'd be hard pressed to find a socialist country by your definition anywhere in Europe.
In fact the Scandinavian countries are among the most free production markets in the world. Low corporate taxes, few barriers to entry and trade, just as easy to fire as to hire. The point I meant to make is that the citizens are highly taxed to pay for their high level of social services, rather than an inflation of the money supply.
Inflation due to money printing is just another tax, so If I am understanding you correctly, you are merely making a claim that one form of tax is more efficient than another form of tax while making no claim as to whether said services should be provided by the state. Taxes transfer wealth involuntarily, which is to say they are all a form of legally-sanctioned theft. In the long run, it is in society's best interest for theft to be an INEFFICIENT as possible, which would make it easier to eliminate. If the relevant issue is (as it should be) the moste efficient way to provide Essesential Services, then it should be obvious that a monopoly would not be and is not optimal. The State is a monopoly. This fact means that very poor incentives exist for the State to provide maximum value. Monetary inflation is an efficient but very specific type of tax, namely a tax on long term savings, not immediate consumption. I believe that common health services (such as inoculation against contagious diseases) can be most efficiently provided and most beneficial under a monopoly. I prefer to live in a society where a minimal level of education can be expected - particularly if I rely on my peers to vote wisely. It is my experience that crime is minimal (or at least less apparent) in countries with greater welfare/taxes. I am not sure what law would mean without a regional monopoly. These are services for which I happily pay a monopoly: health, education, law. For when others benefit from these services, I benefit two-fold. |
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