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The most likely result would not be a directed and focused assault against bitcoin, but controls against currency flight. Limits on how much you can move out of your country. In that bill someone is one sentence that makes the law apply to bitcoin, even though a movement into bitcoin is not a movement geographically.
And that might be done by Executive Order.
Gresham's Law, bad money drives out good, is always followed by a second phase in which good money drives out bad.
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If they adopt Bitcoin and provide a wallet service in countries where having your own computer is uncommon, they could gain revenue. They would potentially become the equivalent of a bank.
Yes, they could charge a fee from their current offices for changing bitcoin received into local currency. The primary communications vehicle for movement of bitcoin, though would be the smart phone. As of the end of 2012, there were as many phones in the world as there were people, and about a quarter of them were smartphones. The problem that WU would have is that for them to act as the "Receiving End" the sender would have to send bitcoin to WU. And why would anyone want to do that? Otherwise, WU could offer a service which consisted of being an exchange agent for anyone walking in off the street with bitcoins on their phone. But anyone could do that - the first that comes to my mind would be the 'check cashing' stores. |
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DID it strike you AS odd that they shot the guy through the mouth?  Not at all. At least they sort of hit what they were aiming at. |
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Good morning everybody,
I'm getting ready to order my new LTC mining set up. But I'd like to put together a clean long lasting build that will keep my equipment safe and working at optimum capacity.
I want to reach the maximum GPU mining efficiency by providing optimum cooling and opting for the larget GPU/(MB+CPU+other) ratio for the highest Hash/W......
Do you have any suggestions for possible improvements?
Looking forward to your feedback on this little project.
I think if you removed every other card in the GPU arrays, cooling would be possible. An attempt to direct air flow into this packed double array would require a shroud around the entire thing. The distance between the GPU cards is insufficient for good airflow, air is required to make a 90 degree turn from the card's fan to exit the rack. 90 degree turn is difficult for any air mass, but for distances of 1/16 to 1/4 inch, laminar flow generates additional frictional losses. Maybe this is a bit technical, but the sum is put them further apart... |
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<Separate problem from priors>
I had 2 7970 running fine, added #3. Now I see one card at right about 1/2 production, like 298 Mhash, the other 2 cards at 550-600 Mhash.
So what would cause a card to half run?
PS is 1200 Thermaltake, and voltages look fine.
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...It forces the people using it to act as if it is a closed system, if they hoard it when times are good, just like you said, the system begins to devalue. because what gives it it's value is the movement of economical transactions in the system, over spend and the rate of movement falls. If people do not have money to spend the system begins to stagnate pushing back progress forcing people to save. but if they push too far they end up back in square one... the limit and division of it create this really amazing dynamic... you have to be within a sustainable level, not too little not too much. it forces people to spend at the same time it forces people to save it, it creates a self regulating system.  !!!! Amazing! It is so crazy that it causes equal wealth distribution because of it's design, different areas of the world will be at different levels of equilibrium, spain is down now, so they save, reduced prices there increase investment,... over stimulation in China and the system forces people to spend their money on areas that have fallen into spain's position to get lower priced goods, etc. What's not taken into account in this is a very, very important factor called the "velocity of money". If a bitcoin is held back ("Hoarded") it doesn't create any velocity, some number of transactions occur and depending on the requisite demand, the price of a bitcoin goes up or down. Suppose 3/4 of all bitcoins were hoarded - the demand could still be satisfied, price would simply go up or the velocity would go up. Obviously, if all transactions take 20 minutes to clear, this places an upward limit on velocity. |
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I mean the country would be willing to take TAXES in: gold, silver, btc and their "old currency" THIS IS GOOD: It would only be an ADDITIONAL official currency.
What does it take to make a currency an "official" currency? Would be enough if small state xy officially proclaims that it will optionally accept BTC for tax and other payments at a rate equivalent of 0.001USD/BTC? You could use Bitcoin as an additional currency but then people would be less likely to be used day to day which pretty much defeats asking a small country to make Bitcoin it's official currency. The only way you could do it is to have everything on Bitcoin Island dynamically priced so that all your goods prices vary from minute to minute. This assumes that the local currency is stable, but in many places that isn't true. Cash registers at checkouts in many countries already recoimpute prices on the spot. It's necessary where the local currency is devaluing rapidly. Unfortunate, but true. |
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Outsourcing professional paper wallets would be a fantastic idea I have wanted to inspire. It can be done securely using a two-factor system. Here is how it would work.
Suppose I engaged a professional printer who could do the whole thing other than prove they didn't keep the private keys (which is impossible). Instead, I would have them create the second factor of a two-factor system.
It would sort of work like this. I write a program to generate a bunch of random string passphrases and their corresponding "intermediate codes". The printing company would use the same or similar program to take those intermediate codes and generate the encrypted private keys and the bitcoin addresses. They would do all of the printing. Those paper wallets would be perfectly usable, except that I only have the passphrases.
They deliver the paper wallets to me. I overprint the passphrases on them, such as with an inkjet printer. I don't know the encrypted private key because the printing company has already covered it with a scratchoff.
Once done this way, the only way the users of these paper wallets could be stolen from is if both that company and I were to have colluded to share the key material with one another. ....
IT's not even necessary for you to be involved if the keys are split into two parts, the first is printed by one printer, that is sealed, then the 2nd is printed by another printer, and that is sealed. This does have some issues in creating two QR codes that have to be combined into one, but that is really easy software. Read QR1, Read QR2, concatenate strings. ... ****** 1DkvYc somewhere on the note and the stub.Note that can be a randomly generated graphic, it does not have to be a text string. |
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Doing my part to expand the bitcoin infrastructure, I've been working with a young bright student living in Zimbabwe on getting some sort of system set up there.
As a test I successfully sent him bitcoins; now the question is...what can someone in Zimbabwe currently do with a bunch a bitcoins? Are there any products that he could purchase online with bitcoins that might prove useful? I was thinking maybe cell phone minutes or something but I really would like some ideas from the community as to how we get him to obtain something useful with his coins.
If we can figure this out, I believe I can really get this thing off the ground there.
One proven business model is micro loans, where he would evaluate and loan to people trying to get a small business going. These would typically be 100-500 USD. He could present the business plans on the internet on a website, then people could fund directly those they thought were deserving. Your guy would take a percentage either on the making of the loan or on it's payoff. Lot of details, but most have been worked out in micro finance operations previously. Where this is different than previous models is that with those, you sent your money to "an organization" which then purports to feed its end clients. Here it would just be crowd sourcing. |
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Of course taxes can be onerous, even tyrannical. But as long as people have a say in how their tax money is spent, taxes are a good idea. Something like a highway would not be built without it. As evidence, the first highway system were the Roman roads. The trade and connections they brought led to a massive increase in the standard of living and helped usher in the Pax Romana.
A private road network would require tolls at whatever rate the owner can extract. It could also require that you be a certain religion, or any other criteria. It would also not go far. In a society without government, power would be extremely localized and no one could oversee a project over hundreds of miles. .....
Actually, widespread networks and computers, coupled with micropayments, at least technically is enabling for numerous prior "government functions" to be taken over by the private sector. The reason is that economically, what you state as the advantage of funding through taxation is actually only funding through a method that collects small amounts from everyone. And it is impractical to place someone in a toll booth position to collect 1/10 cent every time someone uses a section of a public road, because the costs of the toll booth operators would be in excess of the monies collected. Hence, taxes for supposed social goods. |
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Actually, it does work that way. Reference 'virial theorum'. I need say no more. The hot air of which you spoke, ROSE UP. It did not impart it's energy to the earth or the water, but even were that the case, in turn those reservoirs over time would release their excess energy, as dictated by the upper stratospheric radiative balance. Heat in and out from the sphere. Still, the virial theorum rules.
Well you're right it would eventually be radiated as with all heat, but do we exactly care what happens to the heat once its been created? Its still elec -> ke -> heat. No, it would be elec -> 1/2 ke + 1/2 pe And then you have arguably some secondary effect (or not) on the entire planet's radiative balance at the top of the stratosphere, that having moved up and having a slightly larger surface area for those effects. The point remains, you can't just redefine work and claim all is entropy. The definition of thermodynamic work is as it is. Deal with it. |
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"And like every good American, I don't like what I don't understand!"
*close tab*
"Billions are going to be lost on this nonsense". Well now. That would mean that billions were GAINED by someone else on this nonsense. Hmm... |
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The neckbeard morons at the Bitcoin Foundation and the shady venture capitalists controlling it have spent the last year trying to fit Bitcoin into this system, in the hopes that they can cash out once Bitcoin is totally controlled and the price in USD skyrockets.
Controlling it how? Are they running a mining pool? No. They are the Illuminati. Set against us. The Inebriati. |
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By that logic there is no "work", only "heat". And that's simply not true. The useful work performed here is in moving heat from one place to another through convection. This is not complicated.
Next we'll be arguing that there's no useful work in the entire universe, only heat....
In the use of a fan, electrical energy is converted to work which is very quickly and consistently turned to heat. Why do you think a fan makes a room hotter? Because it is converted electricity to heat. -anyway, this is fans. In electronics there is zero work as the cycle happens so fast. Apart from the tiny portion of energy required to 'start' the cycle, all the conversion is from electricity to heat. Again, in case I was not clear. By your logic the Saturn V "did no work". But there is a more profound error you make, which is in asserting that a fan, in moving heat from one place to another, "does no work". That's wrong, of course it does work. In fact, that's the very definition of work in a thermodynamic sense. I replied to this conversation because it seemed interesting, but if you continue to stand on ignorance, this will get dull quickly. What I was trying to point out is there is a difference between temporary and permanent work. Compare lifting a weight on a ratchet and our fan. While lifting the weight, work is done and stored in PE. When you stop putting in work, it stays and there is a clear and stored outcome of the work. With the fan, as soon as we stop the fan, everything has returned to pre-fan conditions. The air is a fluid so regardless of how you move it, it will still settle to a [now hotter] equilibrium and your work was converted entirely to heat. In the case of your rocket, it clearly did permanent work as maybe 5% of the energy consumed is stored as PE above the earth. The rest was consumed as heat. Well, since you want to look at the rocket in that fashion, I also, will use your method. By way of the virial theorum, the additional heat I added to the atmosphere by way of my fan has caused the gas envelope of the planet to become hotter, and thus it has expanded - admittedly, quite slightly. We can show that of this expansion, 50% is a potential energy increase, and 50% is a kinetic energy increase. When you look at it in more detail it doesn't work that way. The air will give up its 'additional' heat by convection and interfluid diffusivity to EVERYTHING else, to the point the 'gas envelope' is unchanged. Actually, it does work that way. Reference 'virial theorum'. I need say no more. The hot air of which you spoke, ROSE UP. It did not impart it's energy to the earth or the water, but even were that the case, in turn those reservoirs over time would release their excess energy, as dictated by the upper stratospheric radiative balance. Heat in and out from the sphere. Still, the virial theorum rules. |
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Anyway, let me say this. It wouldn't have bothered me one bit to have offed the Boston bunglers. Would not have lost one second of sleep over that. Maybe would have lost some sleep wondering if they had buddies that were coming after me.
Isn't that eye for an eye? What about innocent until proven guilty and a fair trial? Let me clarify, I envisioned the scenario as one where they had raised guns pointed my way, or other deadly force. No absolutely not should anyone hope for other than an arrest and trial. Apologies for being unclear... |
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By that logic there is no "work", only "heat". And that's simply not true. The useful work performed here is in moving heat from one place to another through convection. This is not complicated.
Next we'll be arguing that there's no useful work in the entire universe, only heat....
In the use of a fan, electrical energy is converted to work which is very quickly and consistently turned to heat. Why do you think a fan makes a room hotter? Because it is converted electricity to heat. -anyway, this is fans. In electronics there is zero work as the cycle happens so fast. Apart from the tiny portion of energy required to 'start' the cycle, all the conversion is from electricity to heat. Again, in case I was not clear. By your logic the Saturn V "did no work". But there is a more profound error you make, which is in asserting that a fan, in moving heat from one place to another, "does no work". That's wrong, of course it does work. In fact, that's the very definition of work in a thermodynamic sense. I replied to this conversation because it seemed interesting, but if you continue to stand on ignorance, this will get dull quickly. What I was trying to point out is there is a difference between temporary and permanent work. Compare lifting a weight on a ratchet and our fan. While lifting the weight, work is done and stored in PE. When you stop putting in work, it stays and there is a clear and stored outcome of the work. With the fan, as soon as we stop the fan, everything has returned to pre-fan conditions. The air is a fluid so regardless of how you move it, it will still settle to a [now hotter] equilibrium and your work was converted entirely to heat. In the case of your rocket, it clearly did permanent work as maybe 5% of the energy consumed is stored as PE above the earth. The rest was consumed as heat. Well, since you want to look at the rocket in that fashion, I also, will use your method. By way of the virial theorum, the additional heat I added to the atmosphere by way of my fan has caused the gas envelope of the planet to become hotter, and thus it has expanded - admittedly, quite slightly. We can show that of this expansion, 50% is a potential energy increase, and 50% is a kinetic energy increase. You would like, it would seem, to have dictatorial control of the definition of "work". But neither in engineering or physics is that plausible. It is quite strictly defined. |
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....
So ... SSD and bandwidth grow slower than bitcoin transactions? Or quicker?
To all those people talking about pruning or any such optimizations: what we are considering here is growth rate not file size so please stop talking about pruning. My arguement is that the blockchain will grow faster than bandwidth / storage, making the P2P model invalid.
Only people with valid arguements about growth should continue to post in this thread.
Well, transactions grow with usage. You could presume that transactions ramp up in identical fashion to paypal over similar numbers of years. Or presume that they ramp up to "all humans on earth" and some fraction of their transaction volume. Let's take the latter case, as it is the limit, that after that volume is reached, then current transaction volume is limited by population size. But storage capacity, processing speed and networks will continue to grow by compounding, ie, by an exponential factor. You can argue that might be a weak or a strong exponential. Thus in the relative long term, storage certainly does outpace transaction growth. Could there be a momentary hiccup or two as a result of sudden surge in usage? Yeah, but so what. |
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...
More like, "killing people fucks you up, and if it doesn't, you might already be fucked up," but yeah, something like that.
Sure, but let's add to that "lots of stuff might fuck you up, and you might not already be fucked up." Then we've got all the ingredients for something.... Anyway, let me say this. It wouldn't have bothered me one bit to have offed the Boston bunglers. Would not have lost one second of sleep over that. Maybe would have lost some sleep wondering if they had buddies that were coming after me. |
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Even if you take out everyone's money who just wants to make a profit (that's all of us to some degree right?), there will be those who want to make this work for ideological reasons.
The more I hear about incidents like Bitcoin being laughed off the Colbert Report and the Canadian government simply shutting down businesses accepting Bitcoin I get that anger I had....
That, my friend, would be a mistake. Publicity is publicity whether positive or negative and increases awareness. Publicity turned to the end goal of propaganda is when the publicity is memes correlated with some sort of 'hot button emotional issue". For example, bitcoin == kiddie porn. Single cases of that sort of nonsense would be random; continued repetition over years would be a purposeful effort to destroy bitcoin. There are parallels with the efforts to ban firearms, in numerous respects. |
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But I seek the Great Bitcoin, and possibly the Greatest Bitcoin the Most Holy.
The one that is the sum of two prime numbers, each of which is the sum of two cubes.
O Greatest of Mysteries!
What is your value?
<<< Yes I just made this up and yes it's a joke and yes you can take it seriously and hey, dude, like, the chase is on now, and let the rumor fly, that it may be found, and great treasure awaits>>>
Pythagoras didn't want his followers repeating transcendental numbers in public. He held numbers in extremely high regard. He believed they ruled the world. Hmm... No doubt he'd be greatly offended by my joking about prime numbers being the sum of two cubes. x^3 + y^3 = (x+y)(x^2-xy+y^2) |
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