how do you disrupt the banksters while having a cozy relationship with the fed?

i have nothing against mtgox.  i think more active exchanges would be good.  i think multiple active exchanges, a p2p option, and a large amount of face to face (including retail) exchange would be optimal.

just get your posts and time logged, then enjoy the rest of the board.  more productive to enter into a discussion about noob policy as a valued member and possibly work with the community and admins to find a more satisfactory policy, than to bite your nose off to spite your face and change nothing.

i think there are definitely things people have a good position to grip against, but making a couple bucks on shipping isn't really one of them.

you need a micronation that isn't in contention with any other jurisdiction as to its sovereignty.

i wish you luck in your endeavor.  oh, and say hi to kim dotcom for me when you end up on the same cell block.

evoorhees, after 2 seconds thinking about after reading your post, yes, money supply would be the more accurate figure to use.  i would think though, that total global money supply would be best, not just physical money.


ok, i haven't come across any information that said said that can be done.


i would agree.  already waiting for it to sync is a minor annoyance.

i know there is just slightly less than 21,000,000 bitcoins that can ever be issued, but since we don't have an exceedingly accurate number for the global economy equivalent, i'm just using 21m. 

so max number of bitcoins (21,000,000), divided by smallest unit of each bitcoin (.00000001) gives us the max bitcoin units (2.1 × 10¹⁵).

wikipedia gives a 2010 est global economy of 74 trillion (USD equivalent), which we divide by the max number of the smallest unit of bitcoins to find the current value of the smallest unit of bitcoin today, if all bitcoins were in circulation and representing the full global economy.

74,000,000,000,000/(21,000,000/.00000001)=0.0352380952

so just under 4 cents per .00000001 bitcoin, or $3,523,809.52 USD per BTC

with currency markets and exchange offering fractions of a cent precision, is bitcoin capable of becoming a global currency?  yes, i know it would be a good problem to have, but that really isn't much of an answer to a potential technical issue.

disclaimer: i may have screwed the math up as i threw this together pretty quick.  any necessary revisions are very welcome.

this isn't the one i was looking for, but it does the job:

https://www.youtube.com/watch?v=P39gP4QnXxE

i know you can hook up to 100 (that's what was quoted) using multiple USB hubs attached to 1 USB port, but i haven't seen anything about daisy chaining them.

in some asian countries, pro video gamers are treated like rock stars.

what your missing is that china doesn't have the same IP laws as other jurisdictions, like the US for instance.

regardless of what you get, even if its bitcoin or apple pie, or even if you get nothing (as has been stated) in return for the IP, you are still accountable to the laws of the country you live in.  do you think you could stand on the corner selling copies of DVD's and software install discs you made on your computer just because you only accept bitcoin for them?

ARRRR!

thanks guys, i think i have a handle on it.

no, the ability to send no fee transactions isn't incredibly important to me at this point, but a correct understanding of whats going on is.  i didn't realize there were two versions of the official client, nor that in one of them fees were forced.

i have been liking the looks of armory, but only have 2GB ram on my laptop where i've been doing most of my bitcoining, and read in the dev thread that it doesn't play well with less than 4GB of RAM.  i'll install it on my desktop and play around.

many thanks for helping me understand whats going on.

thanks stephen, any additional clarity you can offer would be appreciated.

kluge, that is my main point of confusion.  i could not override the transaction fee at all, it just wouldn't send without including it.

i can't agree with this.  the vast majority of fiat currency exists only on accounting ledgers, as nothing more than information, yet its theft is treated the same as physical currency.

further, bitcoin hasn't technically been classified from a legal standpoint, and if i were a betting man i'd put a sizable wager down that when and if it reaches the point government agencies do make an official classification, it will be classified as a monetary instrument or derivative of one kind or another, not as the equivalent of a scanned image.  they can try to impose regulation on monetary instruments, but can less effectively try to regulate simple information.

i have no idea what logic your using to conclude that ownership of digital information is transferred when you store that information outside of your physical computer.  the entire cloud boom is based on the exact opposite tenant.  are you of the opinion that dropbox owns all my photos that i transferred from my computer to their storage service?  do you believe that mtgox owns the BTC users have deposited there?  i don't imagine any cloud storage service would last long that tried telling its users it owned their stored information.

your basic and fundamental lack of understanding about what your trying to spark a discussion on, prevent any productive discussion, because you are offering nothing of value to discuss.

ARRRRRRR!!!

yeah, my wife looks at me funny when i slip into my peg leg, but she's a noob and doesn't understand the intricacies of high finance.

yes, sorry about that.  i know its not much money, just trying to figure it out.


thanks for the link.  definitely helped a lot.  do you have one that is more specific in estimating?  like roughly x small transactions or in wallet less than x amount of time?

the .15 was 2 transactions in to my wallet.  they were only there for a day or two, but had tons of verifications.

how is the transaction fee calculated?

using Bitcoin version 0.5.2, just playing around to get as familiar as possible.  had .15 BTC and was trying to send all of it to another address.  kept telling me that i didn't have enough including the .005 transaction fee.

peeked in the settings, optional transaction fee include was set to 0.0000000 BTC, tried again, same thing.

so i dropped the amount and it sent successfully, but included a transaction fee of .005 BTC.

where am i going wrong?

only if you wear an eye patch while you make the transaction, and say, "arrrrrr" after its sent.