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Do features have to be implemented in the official Bitcoin client to be eligible for the bounty, or can they be in a standalone application?
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Yes, it runs in the system tray. It should run on Linux (Mono), but I've only tested on Windows XP/Vista/7.
I've been fixing bugs and adding features, but I plan on writing up some better documentation soon, and taking screenshots.
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Detecting display type based on amount would be easy, but I am storing the value as decimal base units no matter what is entered for ease of interoperability with Bitcoin's JSON-RPC. This is a bug. Could you be more clear? If you're saying that Bitcoin expects a decimal number of Bitcoins, not base units, then I misspoke. I convert to Bitcoins (not base units) to send via JSON-RPC. If you're saying that storing base units in a 64 bit integer internally is a bug, how so? In that case, I will perform a string replacement of hex characters to tonal, on input and output. |
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It is not a question of why. This feature can easily be implemented. So it is just a matter of time before it is there. After that the market will decide the relative value of bitcoins with different ages.
Note that old physical coins also have a collectors value. Bitcoin differs from old physical coins in:
1. that it does not have a weight in metal. Note that the coinage is only a certificate of authenticity. Note that all atoms of a metal are quantum mechanically completely identical.
2. that it is not subject to legal tender laws
3. they do not wear out. I meant why would older Bitcoins be more valuable as a currency? It makes no sense at all. If two denominations of 50 BTC are not worth the same as each other, it's a huge strike against Bitcoin as a currency. |
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blocks will be produced at a constant rate of 1 every 10 minutes. Bitcoins are actually represented by these blocks. Right now the software does not allow people to decide which bitcoin one wants to spend. I believe that there are already a number of reasons identified on this forum why that feature would be useful. Bitcoins have a date of creation, and are therefore not all identical.
As soon as this feature is added to the bitcoin client this will allow people to trade bitcoins of a different age at a different price. In other words the geometric series: 50, 25, 12.5 BTC etc will no longer be "enforced". Bitcoins, or more clearly, bitcoin blocks with different ages will then be traded at their relative market value. So the relative value of blocks may then become a smooth function w.r.t. age.
Why? This would work against Bitcoin by violating one of the fundamental properties of money, that each unit is worth the same as any other (fungibility). |
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There's other stuff in wallets, including preferences, address book entries for payees, and account information. bitkeys format won't be suitable for wallet backup if it loses all this.
That other stuff doesn't necessarily need to be in the same file or format as the private keys. I can see a use for exporting address book and account information, and I think those could be in a similar (CSV) format. I don't see much of a use for exporting settings, though it could be exported as well (INI format?). |
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BlueMatt helped me out over IRC and I wanted to thank him publicly. My disk array is restored and I have recovered the data.
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Visa, Mastercard, and Paypal all deal in U.S. dollars, which are controlled by the Treasury and Federal Reserve bank. Based on our government's debt, and the method by which they choose to "help" the economy (inflation), the dollar is heading for a crash. I don't have any doubt that the current course is unsustainable. When the inevitable happens, who's going to accept fancy pieces of paper for real goods? Not me, but I'll take Bitcoin instead.
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Mahkul, would you mind updating the OP with information on successful converts? Perhaps a link to an online spreadsheet that lists business information along with the name and Bitcoin address of the individual who contacted them? This would make it easier to determine when each person that has pledged needs to send off a bounty payment.
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Since you are already factoring out libraries, I would suggest doing so with the formatting code too, possibly adding an abstract function to autodetect display type based on amount.
I don't use Windows/Mono, so I can't check for sure, but I suspect the TBC rendering code has a few bugs... It seems to just convert amount to hexadecimal and stick TBC on the end. If so, this is missing the tonal point (1 TBC = 10000 (65536) Satoshis), and neglecting the fact that tonal has different digits than hexadecimal. If .NET has a Unicode-compatible tr(anslate) function, you could map "9abcdef" to "".
Interesting concept with the ScientificSatoshis
Detecting display type based on amount would be easy, but I am storing the value as decimal base units no matter what is entered for ease of interoperability with Bitcoin's JSON-RPC. You're right though, I should divide the decimal amount by 65536 before converting to hex, correct? For some reason I'm having trouble wrapping my head around that, though the math seems to work. I'm not sure about displaying actual tonal characters, I think I will keep it displaying their hexadecimal equivalents instead. Are there even any fonts which include tonal 9-f? I've been working on payment queuing and syncing wallet(s) with removable devices and plan on updating git and releasing another version soon. |
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Yep, contacted GeoHot and the FSF. I have a huge contact list and have known a lot of people with leverage. I also plan to introduce Bitcoin to a really good hacker that even you would recognize. He specializes in security, though.  Assange?  |
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There's nothing inherently capitalist about money, or Bitcoin. I rarely understand anarcho-socialists (or as they call themselves, anarchists), but we still share a common enemy - the state - even if they consider themselves in a position to criticize agreements between two parties as exploitative when both parties are happy with the arrangement.
You, like many other capitalists, do not realize that the employer, renter, and lender (who charges interest), are also states. Then you and I do not share the same definition of a state, that of an entity with a monopoly on the use of force in a given geographical area. How do you define a state? |
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* To recharge/withdraw money, linking paypal to a bank account is actually easier than jumping hoops with MtGox, Liberty Reserver and other equally hard-to-use intermediaries. (Coinpal/Coincard did a great job in this regard).
Couldn't agree with you more, getting funds in and out of the bitcoin economy is a pretty daunting task and I think this really holds it back from taking off. I believe one of the coming features on MtGox is automated ACH transfers, but don't quote me on that. edit... Quote Jed instead: Everything will still work the same as always for the time being. But expect a lot of positive changes after he takes over including:
Automatic (and free) funding from Euro accounts.
Automatic ACH deposit and withdrawal.
Margin trading.
Interface redesign.
Lifting the $1000 a day withdrawal limit. |
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There are many definitions of fiat. The very same Wikipedia article has one of the definitions as:
* money without intrinsic value.
Bitcoin fills into this definition.
No money has intrinsic value. A gold coin is worth at least the "intrinsic value" of the gold content, but that gold does not have an intrinsic value, it is determined by the market. If all money is fiat, why bother using that term in reference to Bitcoin, as if implying that some other money is not fiat. If some money is fiat, then how do you defend a definition other than "authoritative decree"? |
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I'll pledge another 5 per shop and 2.5 per organization. Drew from Anarchy in Your Head recently switched to a funding based release schedule. Every time $40 in donations accumulates, a comic is released. I emailed him about Bitcoin and he added a MyBitcoin payment link to his page, which counts toward the comic fund. I'm not sure if this would count as a payment or donation, and I can't prove it was me, so this is a freebie.  |
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More relating to Bitcoin not being a fiat currency... Fiat money is money that has value only because of government regulation or law. The term derives from the Latin fiat, meaning "let it be done", as such money is established by government decree. Where fiat money is used as currency, the term fiat currency is used. Definition of FIAT 1: a command or act of will that creates something without or as if without further effort 2: an authoritative determination : dictate <a fiat of conscience> 3: an authoritative or arbitrary order : decree <government by fiat> |
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Bitcoin is similiar to gold in almost every way, so it should be compared to mining & called mining.
Is it called differently? The forum section is called "mining". The programs are miners, etc. But anyway, bitcoin is very far from gold. A lump of gold conducts electricity very well, does not corrode, is a good catalyst and you can make w nice shiny ring out of it. Bitcoin is neither. Bitcoin is absolutely non-physical. Face it: bitcoin is fiat. But Bitcoin is not an ordinary fiat. Bitcoin is decentralized. This is the only truly novel feature of Bitcoin because finite supply is non-novel, there are a lot of finite supply tokens (e.g, collectors coins). Bitcoin is not fiat. One could only think so based on a misunderstanding of the word fiat. Bitcoin did not become valuable when Satoshi said "LET THERE BE BITCOIN". Bitcoin becomes valuable when people say "hmm... this is pretty neat, I'd accept this as payment" or "I'll buy some of this". Fiat currency becomes valuable because the government demands it to be so. If I participate in a debt based transaction in the United States, am taken to court and lose, the government will force me to pay restitution in U.S. dollars. Consider the early days of gold as currency. Why would a farmer accept gold as payment? He can't buy things with it, unless other people accept it as well. Would you say that gold was only valuable "by fiat"? No, because nobody forced anybody else to accept gold, it was voluntary. |
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Ok, I'm available, but I have to get the machine booted first. For some reason I was having problems booting from USB, but I'll try that again. Failing that, I'll have to install a CDRom drive.
If anyone is interested in doing this today, I'm online on Freenode, you can PM me, or reply in this thread.
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People being afraid of BTC, for what reason?
Because they don't want to give away their "real" money? Some will think "hey, if anyone can generate these 'Bitcoins' it can't be real money!". Anyone can generate Bitcoin within the limits of the system. There is no limit on the amount or quality of money that the federal reserve or any other central bank can create. |
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These two problems will solve themselves. As oil prices rise, the incentive to use alternative methods will increase. Less oil will be burned due to higher prices, and the impact that oil has on global warming will be greatly reduced.
I think part of the worry is that too much damage has been done, and the other (of mine, anyway) is that states will fight to keep energy prices cheap until the day they die, causing a prolonging of the damage. By no means do I support anything other than market solutions to the potential problem of AGW. However, states have a perverse incentive to keep their citizens fat and happy, even if that means an even harder crash down the line. |
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