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I am discussing the future too.. and I gave you best guess estimation of effect of the block reward being reduced from 0.1 to 0 BTC.
Suggestion: check how block reward is reduced so that it asymptotically approach 0 over time. Than maybe post something along the lines of "Before thinking that I am smarter than 10 000 smartest people on the planet I will do more research next time".
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yep it will require not world's top 10000000 most powerfull computers to attack some bitcoin transactions but world's top 999900 most powerful computers. Yapity yap, that must be a disaster....
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m8, the reward was effectively reduced almost in half a week ago (again)... so what?
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add 1-2 zeroes to those numbers, this would give you the ballpark idea.... though people are kind of busy with bitcoin mining and do not care about passwords much....
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Nice idea, but I wouldn't want to go anywhere near Facebook, and I'm not a scammer.  +1 +1 OP, is your surname Zimmerman i.e. Mr. "anyone who is not on facebook is a scammer". I have a better recipe for you: "do not use paypal". |
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We've warned everyone here about dangers of doing biz with those people and there was plenty of time to get money out. Pay attention to such warnings next time. I am sorry, though, that this did not help you.
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just a blog, not sure how notable... http://blog.ezyang.com/2011/06/the-cryptography-of-bitcoin/together with a comment by yours truly... > “all of these primitives are hard-coded into the Bitcoin protocol” However: if blockNumber > X use_new_hardcoded_primitives() else use_old_hardcoded_primitives() Here goes your “hard coded” argument. |
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Whats wrong with hoarding bitcoins?
Nothing. What's wrong with those who think that saving money is bad? |
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shouldn't it be only new (first seen) transactions?
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bump for awesomeness  (a screensaver would be cool too) +1 and make is that it can be scaled fullscreen and persistently placed in background a-la wallpaper |
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Lazy bum... stop complaining, take your pick and go back into the pit....  |
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He surely used USD GBP and EUR. Would you stop using those as well?
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It is not quite valid to compare maximum amount of bitcoins with annual turnover of paypal. Also considering that bitcoin is not only currency but also a store of value, arguably, your math gets even more irrelevant.
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not as much as I would like... next time when I buy 200-300 of these babes, I'll push for some more serious discount, though.
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Carrots! We need to use carrots as money! |
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Using mt gox price data rounded to the nearest dollar starting at 6 April, the best exponential (c + E^(b x)) fit to the data is: 0.0195987 + E^(0.0399244 x) Giving this --  X axis is 1 for April 6, 2 for April 7, etc. The dots are the rounded data points. Exponential growth is unlikely to continue occurring forever, but that equation reaches $100 at about day 115 (July 30), and $1000 at about day 173 (September 26). Unlikely though.  this is fine first post, beats hands down "bitcoin is doomed because of deflation" kind Thank You. |
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Why not get two safe deposit boxes at different institutions than? One for the data and one for the password. The security game is risk assessment. You draw a list of risks. Than you come up with controls which mitigate those risks. That's it. Maybe you need more redundancy. Than 4 safe deposit boxes it is, 2 for password, 2 for data. Your mileage may vary.
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You want to know how much reserve they really need? Simple! Get a typical mortgage quote. The amount of upfront fees in most cases is exactly what they need as reserve. Typically it would be 1kŁ per 100-200kŁ mortgage. Considering that mortgagee typically pays the fees upfront they do create everything out of thin air.
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 I suppose this rig is a work in progress |
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one more picture :-) |
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