the work is invented in purpose and could be avoided. The work is invented on purpose... Key word is PURPOSE rather then "for the lulz". The "invented" work is also known as cryptography and its purpose is to stop anyone from printing infinite coins as well as to ensure the system is unadulterated by fakes. Its bad enough when the government is printing infiniate money, give that power to every citizen and you got a worthless "currency". Can you come up with a way to ensure every living person only has 1 wallet? (answer: no... unless you are the government and institute some strict biometrics) |
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they can create him another 200 coins.
aaaaaand right here. This is the point where the Ignore button comes into play. You want to just create currency whenever someone decides they want to be part of the economy? Do you have any idea what that does to the economy? Go read up on Zimbabwe. A prime example of a country trying to money-print its troubles away. The Soviet Union, same thing. They kept printing rubles after rubles after rubles, till people were wheeling carts full of bills to the store to buy a loaf of bread. The 'create as needed' method has been proven to NOT WORK. Currency has to be backed by SOMETHING. With fiat, it's backed by governments, by reserves of precious commodities in vaults somewhere, etc. With bitcoin, it's backed by the network, the blockchain, the work that the entire bitcoin using community contributes to the health and promotion of the bitcoin economy. Every time I send 0.10 bitcoins to bitmillions.com, i attach a miner's fee (generally 0.005 for small stuff, 0.01-0.05 for bigger more important transactions), contributing to the network and to the blockchain, keeping the wheels of cryptoindustry greased. That's what backs bitcoin. The common effort of every bitcoin user to sustain and nourish the blockchain. Well, those examples are not exactly the same because they created an infinite amount of fiat money. the 200 in his example was an exact 1/existing pop. As long as they actually DESTROY currency to match citizen count as well as create then you end up with a system less stupid then pretty much every fiat currency in the world right now where they just print money whenever they feel like. That being said 'less stupid then current fiat system" is not the same as "smart" The biggest issue is with the idea this could be applied to bitcoins, ever. Bitcoins are not printed by a government who mandates their use; rather bitcoins are are a cryptocurrency based on cryptography that has to be manufactured. You can't just "create" more currency per wallet created in bitcoin. And even if you could it would be insane due to fraud (single user creates a million wallets) |
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There's always Bulgaria. They don't have a government right now. You could go waltz right in there and declare it the Fiscal Republic of Bitcoinistan.
I will need protection for that... any mercenary companies around accepting bitcoins... Actually joking aside, are there any mercenary companies who accept bitcoins? Yes there is, however i couldn't give you a name due to security reasons. But yes there is a large amount of security related companies that accept BTC. This is probably very good for bitcoin |
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Another newbie here:
LchPH2hZwNWtw9yHGrSkhfCrtyMeCJesVc
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Ok, I want to ask a question, suppose you and 99 other men are living in a different planet, until now you trade things.
Suddenly you come with the idea it will be easier to use money instead of trading, everybody agree with you.
You all decide to create 1000 coins, now you want to share the coins between all of you. how many coins each one will get and why?
Now suppose that the coins you decided to use had to be manufactured in an expensive process to prevent counterfeiting. When this became known 95 of the 100 people involved decided to not bother. As time passed more and more of them joined in and worked hard to create more and more coins. Now some guy in the 20 who never bothered working for it decides it would be more fair if he gets a cut out of the work everyone else did "just because". First of all, I have never said people should give their coins after they had them, I said that originally it should be equal share. This is not the case here, the work is invented in purpose and could be avoided. In any case lets say that only 5 people willing to participate.the 1000 coins should be distributed between the 5 people that wanted to participate, each gets 200 coins. How will they decide the value of each coin? I think they will have to experiment with it until it's stabilized. later comes another one that wants to join, they can create him another 200 coins. This fundamentally cannot ever be bitcoin, bitcoin is not designed that way. However I had myself imagined something similar as an improvement to the existing fiat system of many countries. As long as it is tied up legally to be near impossible to change (tied up legally so the ratio cannot be changed without 95% of eligble voters voting yes on it... not 95% of people who make it to the polls... so you first have to convince everyone to go out and vote... the 2012 US election had slightly under 50% turnout amongst eligible voters according to my math from data taken from census). That is, new currency is created OR destroyed by the government until total currency matches 1000$/citizen alive. If population expands government supplements taxes with printing. If population contracts government must spend some of tax money to destroy money. With a built in cap to only change 10% a year. The difficulty of changing it will protect it from moronic temporary politicians who don't understand you can't muck about with currency with impunity. And I don't think this can ever be an alternative currency. You need to know exactly how many people are involved and if the issuing body isn't the government then who gets the new coins? every wallet? if that was the case then many people will create a million wallets for the free money. |
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There's always Bulgaria. They don't have a government right now. You could go waltz right in there and declare it the Fiscal Republic of Bitcoinistan.
I will need protection for that... any mercenary companies around accepting bitcoins... Actually joking aside, are there any mercenary companies who accept bitcoins? |
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@debianlinux: thanks @snapsunny:  |
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What about North Korea? They're decidedly anti-western. Well except for their leader's private entertainment, but otherwise? Decidedly anti-western.
They are one of the most insane countries in the world. Sane =! Anti western. If countries were sane we wouldn't need an alternative currency to save us from irresponsible politicians the globe over printing money like mad or otherwise hamfistedly manipulating the currency. And I doubt it will last since countries the world over have a history of cracking down on alternative currencies |
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Name a country where this isn't common (ugh, double negatives!)
I really hope there is one, or we're truly screwed  If not, let's invent one. We'll call it Acirema My parents emigrated to america a mere 10 years ago and its already going down the drain. I have been desperately looking somewhere to emigrate and can't find one sane nation on this globe. |
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https://en.bitcoin.it/wiki/Litecoin#CriticismThis seems to have some very harsh things to say about litecoin. Are not most of those criticisms applicable also to bitcoin (to varying degrees)? Should I bother getting into litecoin in addition to bitcoin? Is there any chance of an eventually unified wallet containing both coin types?
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- Blockchain.info being raided for mixing service, logs sized I thought bitcoin was a distributed p2p network exactly to prevent such a thing If any first-world government decides to flex their legal muscles to shut down exchanges, that will kill off the adoption rate and at the very least cause bitcoin usage to stagnate.
This seems like its just a matter of time considering they have cracked down on any alternative currency in the past. What can bitcoin do to survive in such a state? That's an issue that affects more than just Bitcoin But I agree. It's more so, people allowing their governments full control over every aspect of their lives that the first-worlders can just say "Bitcoin supports terrorism" and anyone without half their brain functioning (not uncommon in Murica) would destroy any BTC they had and preach the message to their peers. Name a country where this isn't common (ugh, double negatives!) |
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I think I am getting the same issue. My card can produce 300MH/s but is very loud doing so.
With careful configuration of -f or -s I can lower it. If I leave it on (a stable) 50MH/s before going to sleep I wake up in the morning it has somehow dropped down to 2MH/s
However, I am getting it with BTC Guild
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If you think you have a better way than Bitcoin, by all means, start your own coin and see how many people are willing to adopt it. I for one, would not. But don't let that stop you!
This is a very good argument. Bitcoin is not backed up by any government or body. its a crypto currency which people just decided to use on their own and not the first one. It would be easy enough to create your own crypto currency called sovietcoin (or sharingcoing) which you distribute equally amongst all people. Go ahead and do so Also: Bitcoin (unlike the hypothetical sovietcoin) was specifically designed to protect against governments run by people with the opinion of the OP. It is designed such that there is no issuing body that can start redistributing it or printing money willy nilly. Its the only reason anyone uses it in the first place |
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Ok, I want to ask a question, suppose you and 99 other men are living in a different planet, until now you trade things.
Suddenly you come with the idea it will be easier to use money instead of trading, everybody agree with you.
You all decide to create 1000 coins, now you want to share the coins between all of you. how many coins each one will get and why?
Now suppose that the coins you decided to use had to be manufactured in an expensive process to prevent counterfeiting. When this became known 95 of the 100 people involved decided to not bother. As time passed more and more of them joined in and worked hard to create more and more coins. Now some guy in the 20 who never bothered working for it decides it would be more fair if he gets a cut out of the work everyone else did "just because". |
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Should I be afraid that giving my address to those sites will result in my wallet being stolen?
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I want to limit the noise from GPU mining which means limiting the GPU usage.
GUI miner built in limitations do not work properly. I set the -s flag carefully to lower it to ~50MH/s and a few hours later I come back and its down to 2MH/s
Is there a good way to cap GPU usage?
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Using GUIMiner I was getting the error code "no json object could be decoded" and couldn't find any info about it. I eventually figured it out, its what you get when you inputted username/password is wrong (at least, when using BTC Guild; which incidentally wants you to input worker id and password not your general id and password).
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