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watching this thread and interested to know progress, thanks
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-it's complicated complicated is relative, this is a complicated world. I am not sure that this is a disadvantage, you could just as well say bitcoin won't take off because it is complicated. -it is far removed from simple mutual credit which many of them don't really understand. The plan would be to make the frontend as simple as possible, and follow as many Mutual Credit precedents as possible -these groups prefer to operate in plain sight, than to use encryption I agree, which is why identification of users is an important factor. Encryption of the block chain etc. is part of bitcoin security and doesn't have anything to do with whether transactions are transparent or not. -they have no resources for accounting systems Indeed. This could be a problem, but my thoughts are that these systems will be build for bitcoin in due course. I am still undecided whether there really is a point in trying to do this. There are other systems, that may well work (I have still yet to review them). My main motivation is to leverage the popularity of bitcoin to drive adoption of a Complementary Currency, my secondary is that bitcoin is going to have a huge amount of technical and other solutions to make digital currency more usable (e.g coincards, POS machines etc.) I will have a look at your site when I get a chance. Thanks for your input. |
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Hi Can anyone help explain what these chart movements mean:  I gather that a green line means that the market is being pushed up and red down. I have marked two places on the chart to help clarify things: 1. Someone makes a big sell order, the order cannot be filled at the spot price so the seller pushes the market lower as he sells at lower prices. How does this work? In the case shown above, did the seller put a sell order in to sell at every price above $6.61 and was able to sell at all the higher prices and stop at 6.61? 2. How come the price immediately goes back up to 6.95? Has someone added an order in between the last sell? any help appreciated |
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@Denicen
That's a brilliant idea, actually, but it isn't me. Wish it were. This email did not go out to more than 70-80 people and its appearance here is a (slightly) embarrassing coincidence. If I were seriously spamming for that purpose I sure wouldn't be here on the forum, explaining myself.
Where are you from? You can PM me if you want to keep it private. I am the OP and I am interested if 'one of your friends and family' is also one of my friends. |
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I think a number of these credit unions will be created over the next year, primarily enabling venture capital to go to new bitcoin startups. If trust can be earned by members then these resource pools will be wildly successful.
And that's why I bought BitcoinCreditUnion.com... happy to sell it for the right amount of Btc =)
And what exactly is "the right amount of btc" to you  ? Probably like 50 Bitcoins. I'd like to hold it a while but I'm cash-poor and needing-groceries-rich! 50 x $7.20 = $360 dude, you are an ass. there is a guy on this forum raising capital for his company, the whole of which (including the domain name) he has valued at $490. you really think that domain is worth 360 dollars? I certainly don't. build something with it or give it to the dude for a nominal fee. I hate cybersquatters. |
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so you are valuing bitcointournament at .25 BTC x 300 = 75btc = $7.39 x 75 = ~$554 that seems believable how much work has been done? what kind of timeframe before you start public beta? Is the developer full time or is he doing this in his spare time? cheers and good luck |
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I really think you should have shorter term loans than the minimum 3 months. I would like to make a test loan like above of .1 btc but wouldn't like to wait three months to see how it worked out. these are fast times man! |
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I am also giving all of my current Bitcoin stash away, so ask if you would like a few I'll send them to your purse while supplies last. Interesting times, no? .wendel ok, I didn't see that line. I am coming around to the argument that this is an extremely infantile pump & dump. I still don't think spamming a few hundred thousand emails will make any difference to the bitcoin price - and thankfully so. I searched for the forum handle 'wendel' but found nothing. any ideas who this might be? |
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... there is no obvious sales pitch or scam It may be a "pump-and-dump". The perpetrator buys some bitcoins, then spams the internet with bitcoin-promotion in the hope of making the price rise before selling out. seems ... unlikely. how could it possibly have any noticeable impact on bitcoin prices? |
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Who would have thought that Jason Calacanis's sensational, over the top form of journalism would be one of the best forms of exposure this project has ever seen
that's how the internet works, no matter how many well-argued scholarly articles appear it'll always be the linkbait with titles like [ DO NOT POST SESC LINKS ]'ARE YOU READY FOR THE BITCOIN ARMAGGEDON?'[/url] that will get all the traffic. you clicked on that link right? see |
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edit: this ended up being a case of over enthusiasm rather than spam A friend of mine received an email this morning. I am not sure how the spammer got his email, and it is only the fact that I happened to mention bitcoin to him that he sent this on to me. It is impossible to scrape emails from gmail right? I am worried I have been hacked. Anyway the text of the email: From: ---------------------------------- Sent: Monday, May 16, 2011 3:47 PM To: ----------------------------- Subject: Bitcoin Dear friends and family, If you've spoken to me in the last 6 months, you probably know that I have been more than a little obsessed with a new form of money called "Bitcoin". After the recent surge in press attention and an almost 1000% increase in apparent market value of 1 Bitcoin to the US dollar (1 Bitcoin at the time of writing is trading for $7.80 USD), I thought it might be time to share some resources broadly explaining what Bitcoin is, and why it MAY be an incredibly important economic development. To get started, I first of all recommend that everyone watch the video on the front page of this site: -> http://www.weusecoins.com/ This video explains what Bitcoin is, and I will further summarize: - It is a PURELY digital currency, with no representation in the physical sense (bills, gold, etc). - It is peer-to-peer, meaning a financial institution middleman is NOT required for transactions. - It is nearly free to make any sized transaction. - It is NOT issued by a central authority or managed by a central bank. - It cannot be infinitely issued; there is a fixed number of Bitcoins and they are rare by design. - It doesn't know national borders, so can be used more or less anywhere. - Transactions can be made extremely private with little effort. - The entire source of the whole system is open, meaning it can be reviewed and scrutinized by ANYONE. If it all seems very "unreal" or hard to correlate with real value, then perhaps the following is worth noting: "On August 15, 1971, the United States unilaterally terminated convertibility of the dollar to gold. As a result, "the Bretton Woods system officially ended and the dollar became fully 'fiat currency,' backed by nothing but the promise of the federal government." This action, referred to as the Nixon shock, created the situation in which the United States dollar became the sole backing of currencies and a reserve currency for the member states." -> ( see: https://secure.wikimedia.org/wikipedia/en/wiki/Bretton_Woods_System ) In other words, Dollars and indeed, Euros, are backed by nothing other than a faith or belief that they are worth something... And surprisingly, this seems to be enough to keep the whole system moving! This subject was also highlighted on a recent episode of This American Life called "The Invention of Money", which I highly recommend checking out: -> http://www.thisamericanlife.org/radio-archives/episode/423/the-invention-of-money I'm writing this not because I expect you to run out and buy Bitcoins; it's much too early in the game for me to recommend something like that. The value fluctuates every day and there is not a lot which can be purchased with them at present. However, I do recommend that you keep your eye on what is going on here, because I believe that it represents a major sea change in the role of money in our society: The future may indeed be decentralized, no longer attached to any private or government functionary, and more absolutely controlled by the individual holder. Bitcoin itself may not be what succeeds, but SOMETHING like this, I truly believe, will. And this has really big implications for just about everything. More specific and technical details on Bitcoin are available here: -> https://secure.wikimedia.org/wikipedia/en/wiki/Bitcoin If you would like a few FREE Bitcents go here (you will need a wallet -- get a temporary one here: www.instawallet.org ): -> http://freebitcoins.appspot.com/ If you want to play with Bitcoin more seriously, considering downloading the desktop software, available at the bottom of this page (again, FREE): -> http://www.weusecoins.com/ If you like, watch an interview with two of the current developers of the project (jump to 7:20 to skip some mostly unrelated nonsense). This interview also involves everything from government implications to some of Bitcoin's potential use in South African businesses: -> http://www.youtube.com/watch?v=TwNfBgwbqng The Bitcoin forum is a great place to ask the general Bitcoin community anything that you might think of: -> http://bitcointalk.org Where I can, I am making myself available as a public resource for Bitcoin-related inquiries and information. Feel free to use me in that capacity, to answer any questions that you may have (I don't know everything so your questions also help me further understand Bitcoin through research and community outreach). I am also giving all of my current Bitcoin stash away, so ask if you would like a few I'll send them to your purse while supplies last. Interesting times, no? .wendel The thing is. This doesn't fit into the usual style of spam emails - there is no obvious sales pitch or scam, it's just someone who is interested in bitcoin trying to spread the word. Please please please if you are doing this please stop. I cannot image a worse way to promote bitcoin. You think the average person is going to have a positive view of bitcoin when there only reference to it is that it is associated with 'buy viagra, clialis etc.' 'take my money' & 'buy pirate software' emails? Bad idea. |
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Hey you should make a promo post in /r/ technology.
done. let's go people! keep it moving |
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I actually just found out about Bitcoins last night on reddit, and after reading about it obsessively for a few hours, decided I wanted to get involved. I really like the ideology, and really hope things go well (excited/curious/afraid of what governmental reaction will be). Got my first GPU up and mining already too (this is my first post) (excuse my language but) you motherfucking fast motherfucker I've still not got round to setting up a GPU miner. |
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ha, another interesting feature of bitcoin  |
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I am a moderator over at the bitcoin subreddit (obligatory shout out) and I have been keeping an eye on the amount of readers it has for a while now, because it was close to 1000. Anyway, haven't been over there in a while (since this forum is where it's happening) and I looked back and it is now 1,230. So I decided to have a look at the stats and they are quite impressive. I thought you might be interested to see:  |
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I am 90% certain that Calcanis purchased ~100k of them a week or two before his show, and is now trying to promote the crap out of them for a quick profit.
Well, apparently he popped up on the forums the other day, so he is doing hell of a performance if his real aim is pump & dump. I get the impression he is really excited about the project. Note that this does not mean he is doing exactly what you say anyway. |
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I think it is by far better to cure some diseases than to create a free money system, but why not go for both? Agreed. Which is why I spent a lot of time thinking about this. Apart from the answers above which are valid, I would add that even if it were possible to compute something beneficial (proteome folding etc.) while keeping the same level of security, you would still be left with the following problem: currencies that are based on a commodity that has an independent value (or an intrinsic value) are more volatile because the price may fluctuate based on the demand for this commodity. A good example is silver, it was once used as the de facto world currency - just look at the name of money in various languages: French: 'argent', Irish 'airgead' etc. - but it would be a bad idea to use it as a currency now because industrial demand, which has been rising for silver in recent years due to usage in high-end technology and medicine, fluctuates over time. The central bank has less ability (minimal at the best of times) to control inflation etc. In the bitcoin situation, what if you decided find find a cure for cancer? What if cancer were cured? What would you do then? Replace the 'project' arbitrarily? Who would decide, and how would you keep them impartial? How would this affect the bitcoin market? I've just thought of another example that I can't figure out. Why not just find large primes? You certainly wouldn't run out of work so it will certainly last a while, and you would think that it would be relatively demand-neutral. Any thoughts? |
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@topic
Bitcoins blockchain stuff is only necessary because it doesn't have a central authority.
You might want to change the p2p aspect to just connect to the central issuing server, which will create new blocks when new transactions come in.
This will give lower transaction times and lower (nonexistent) mining costs and full control over inflation, with no overtaking from others possible.
On the downside, you are probably a little more vulnerable against ddos attacks.
You can also keep the p2p aspect, but then you practically loose protection against double spending.
This is a serious point. Just to simplify what I think is your core question (correct me if I am wrong): Why use bitcoin if there is a central issuing authority? Surely you could just use one of the proprietary systems that are out there, which are non-p2p and do exactly what you want?Two reasons come to mind straight away: 1. CC/LETS systems have been debated and discussed by useless hippy types since time immemorial. They have rarely managed to get their ideas implemented for various reasons, but probably the biggest is end-user cynicism. Most people are incredibly skeptical of these systems; they have a very hard time imagining that they would work. And along came bitcoin and proved that a digital currency could and does work. This is like gold dust for those of us who are advocating CC/LETS systems. 2. There is a huge amount of development in the bitcoin community. If this proposed CompCoin was to share a similar codebase, many of the more useful projects could be incorporated fairly easily into it. Complementary Currencies fill a need that bitcoin does not, and I believe that a CompCoin system could go hand-in-hand with adoption of bitcoin, as they provide different benefits. If a group of enthusiasts from the bitcoin community were to get involved we could create a codebase/template for setting up complementary/local currencies, that could be tailored to local conditions, it could help the development of bitcoin throughout the world, and help local communities build their economies without the need for government grants/funding. |
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